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(1) General Information
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| REEM PROPERTY LIMITED is a private company limited by shares, domiciled and incorporated in England and Wales. Its registered office is Petronne House, 31 Church Street, Dagenham RM10 9UR. |
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(2) Statement of compliance
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| These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies regime. |
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Basis of Preparation
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| The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Revenue recognition
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| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Sale of goods
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| Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them. |
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Borrowing costs
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| All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method. |
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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | | | Motor Cars | |
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(4) Critical accounting judgements and key sources of estimation uncertainty
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No judgement
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| No significant judgements or estimates have been made in preparation of these financial statements. |
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(5) Turnover
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| The revenue from company's operations comprise: |
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| | | 2025 | | 2024 | | £ | | £ | | | Sales | 108,241 | | 91,455 | | | | | | | | | | 108,241 | | 91,455 |
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(6) Operating profit
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| Operating profit for the year from continuing operations has been arrived after charging: | | 2025 | | 2024 | | £ | | £ | | | | | | | | | | | Director's remuneration | 9,000 | | 9,000 | | | | | | | | | | | | | | 9,000 | | 9,000 | |
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(7) Employees
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| During the year, the average number of employees including director was 0 (2024 : 0). |
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The above numbers are averages for the year and calculated on a full-time equivalent basis. The aggregate payroll costs of the above were: | | | 2025 | | 2024 | | £ | | £ | | | Wages and salaries | 9,000 | | 9,000 | | | | | | | | | | 9,000 | | 9,000 | |
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(8) Interest payable and similar charges
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| | | | 2025 | | 2024 | | £ | | £ | | | Interest on bank loans and overdrafts | 37,864 | | 26,309 | | 37,864 | | 26,309 | |
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(9) Tangible fixed assets
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| Land and Buildings | Plant and Machinery | Totals | | £ | £ | £ | | Cost | | | | | As at 01 October 2024 | 913,847 | 2,995 | 916,842 | | Additions | 209,009 | - | 209,009 | | As at 30 September 2025 | 1,122,856 | 2,995 | 1,125,851 | | Depreciation | | | | | As at 30 September 2025 | - | - | - | | Net book value | | | | | As at 30 September 2025 | 1,122,855 | 2,995 | 1,125,851 | | As at 30 September 2024 | 913,847 | 2,995 | 916,842 |
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(10) Debtors
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Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | | | | | Other debtors | 11,800 | | 10,838 | | | | | | 11,800 | | 10,838 |
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(11) Cash and cash equivalents
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| | | 2025 | | 2024 | | £ | | £ | | | Bank balance | 13,988 | | 15,142 | | | | | | 13,988 | | 15,142 |
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(12) Creditors: Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | Trade creditors | 190 | | - | | | | | | | | | | | | | | Other creditors | 33,299 | | 532,056 | | | | | | 33,489 | | 532,056 |
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(13) Creditors: Amounts falling due after more than one year
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| | | 2025 | | 2024 | | £ | | £ | | | Bank loans and overdrafts | 529,758 | | 538,810 | | | | | | Other creditors | 672,002 | | - | | 1,201,760 | | 538,810 |
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(14) Share capital and reserves
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| | Alloted, called up and fully paid: | 2025 | | 2024 | | £ | | £ | | | 1 (2024 : 1) Ordinary Shares of £ 1 each | 1 | | 1 | | 1 | | 1 | | | Ordinary shares hold equal voting rights. | | | Retained earnings | | | 2025 | | | | £ | | At 1 October 2024 | | | (128,045) | | Profit of the year | | | 44,933 | | Dividends paid | | | (500) | | At 30 September 2025 | | | (83,612) | |
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