REGISTERED NUMBER: 08044252 (England and Wales)

Les Reed Clearance Services Ltd

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

L J Reed

REGISTERED OFFICE:

8 James Street

Sheerness

Kent

ME12 2QE

REGISTERED NUMBER:

08044252 (England and Wales)

ACCOUNTANTS:

BK Plus Limited

Chartered Certified Accountants

1 High Street

Sheerness

Kent

ME12 1NY

FIXED ASSETS

Tangible assets

4

71,231

76,392

CURRENT ASSETS

Debtors

5

17,980

10,130

CREDITORS

Amounts falling due within one year

6

84,033

58,073

NET CURRENT LIABILITIES

(66,053

)

(47,943

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,178

28,449

CREDITORS

Amounts falling due after more than one year

7

28,075

35,961

NET LIABILITIES

(22,897

)

(7,512

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(22,899

)

(7,514

)

SHAREHOLDERS' FUNDS

(22,897

)

(7,512

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2026 and were signed by:

L J Reed - Director

1.	STATUTORY INFORMATION

Les Reed Clearance Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements - going concern

When preparing the financial statements, the director has assessed whether there are significant doubts about the company's ability to continue as a going concern, particularly as there are net current liabilities. There are no material uncertainties of which the director is aware in making his assessment.

Other creditors include £25,046 owed to the director. He has indicated that repayment will only be sought when cash flow and profitability allow. Therefore, the director considers that the company has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, he is satisfied that the company has adequate resources to continue to operate for the foreseeable future and he continues to adopt the going concern basis for preparing these financial statements.

Income recognition

Income represents the fair value of consideration received or receivable derived from the provision of services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on reducing balance

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

48,350

DEPRECIATION

At 1 April 2024

27,771

Charge for year

5,145

At 31 March 2025

32,916

NET BOOK VALUE

At 31 March 2025

15,434

At 31 March 2024

20,579

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

17,280

3,307

Other debtors

700

6,823

17,980

10,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

16,075

8,034

Hire purchase contracts and finance leases

4,917

5,715

Trade creditors

4,624

3,467

Taxation and social security

30,254

15,321

Other creditors

28,163

25,536

84,033

58,073

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

17,132

21,146

Hire purchase contracts and finance leases

10,943

14,815

28,075

35,961

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

-

5,181

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts and finance leases

15,860

20,530

Hire purchase agreements are secured against the relevant assets.