Reformation Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 02435840

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		40,243		34,650

			40,243		34,650
CURRENT ASSETS
Stocks	5	404,225		360,444
Debtors	6	300,373		451,990
Cash at bank and in hand		40,044		16

		744,642		812,450
Creditors: Amounts Falling Due Within One Year	7	(605,188 )		(690,793 )

NET CURRENT ASSETS (LIABILITIES)			139,454		121,657

TOTAL ASSETS LESS CURRENT LIABILITIES			179,697		156,307

Creditors: Amounts Falling Due After More Than One Year	8		(14,409 )		(13,386 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(5,456 )		(6,166 )

NET ASSETS			159,832		136,755

CAPITAL AND RESERVES
Called up share capital	10		256,100		256,100
Share premium account			159,015		159,015
Profit and Loss Account			(255,283 )		(278,360 )

SHAREHOLDERS' FUNDS			159,832		136,755

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Reformation Limited

Balance Sheet (continued)

As At 30 June 2025

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr E T Sloane

Director

22 June 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Reformation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02435840 . The registered office is Unit C, 1 Lancaster Park Newborough Rod, Needwood, Burton On Trent, Staffordshire, DE13 9PD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Straight line
Motor Vehicles	20% Straight line and 33% Reducing balance
Fixtures & Fittings	15% Straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Reformation Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 July 2024	55,202	25,740	13,596	94,538
Additions	-	18,871	-	18,871

As at 30 June 2025	55,202	44,611	13,596	113,409

Depreciation
As at 1 July 2024	40,802	9,340	9,746	59,888
Provided during the period	4,000	7,733	1,545	13,278

As at 30 June 2025	44,802	17,073	11,291	73,166

Net Book Value
As at 30 June 2025	10,400	27,538	2,305	40,243

As at 1 July 2024	14,400	16,400	3,850	34,650

5. Stocks

	2025	2024
	£	£
Stock	404,225	360,444

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	300,373	451,990

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Reformation Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	8,940	5,314
Trade creditors	175,013	189,126
Bank loans and overdrafts	27,425	24,706
Other loans	2,361	58,332
Other creditors	40,498	106,114
Taxation and social security	350,951	307,201

	605,188	690,793

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	14,409	5,757
Bank loans	-	7,629

	14,409	13,386

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	8,940	5,314
Later than one year and not later than five years	14,409	5,757

	23,349	11,071

	23,349	11,071

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	256,100	256,100

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	43,355	26,000
Later than one year and not later than five years	138,710	52,065
Later than five years	130,000	-

	312,065	78,065

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Reformation Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 July 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 June 2025
	£	£	£	£	£
Mr Edward Sloane	268,488	1,470	137,411	-	132,547

The above loan is unsecured, interest free and repayable on demand. The above loan has been repaid in full within 9 months of the balance sheet date.

13. Related Party Transactions

Sloane Global Trading Limited

A company in which E Sloane, G Sloane and T Wright are directors.

Amount due to related pary at the balance sheet date £25,451 (2024: £90,659).

Sloane Property Developments Limited

A company in which E Sloane is a director.

Amount due from related party at the balance sheet date £126,771 (2024: £131,141).

14. Ultimate Controlling Party

The company's ultimate controlling party is E Sloane by virtue of his ownership of 89% of the issued share capital in the company.

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