REEF AGENCY LIMITED


Directors	THOMAS, Doug
	THOMAS, Lisa


Company Secretary	THOMAS, Lisa


Registered Address	1 Gemini Court
	42a Throwley Way,
	Sutton
	SM1 4AF


Registered Number	07522271 (England and Wales)

Statement of Financial Position
28 February 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		25		33
Investment property	4		815,000		851,530
			815,025		851,563
Current assets
Debtors	5	1,748		1,654
Cash at bank and on hand		9,951		38,893
		11,699		40,547
Creditors amounts falling due within one year	6	(6,553)		(5,729)
Net current assets (liabilities)			5,146		34,818
Total assets less current liabilities			820,171		886,381
Creditors amounts falling due after one year	7		(298,130)		(336,422)
Provisions for liabilities	8		(65,661)		(74,307)
Net assets			456,380		475,652
Capital and reserves
Called up share capital			100		100
Revaluation reserve			279,905		316,767
Profit and loss account			176,375		158,785
Shareholders' funds	9		456,380		475,652

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 October 2026, and are signed on its behalf by:

THOMAS, Doug
Director
Registered Company No. 07522271

REEF AGENCY LIMITED

Notes to the Financial Statements
for the year ended 28 February 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents the value of rental income due under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	25

	Investment property
	Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognized in profit or loss.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 March 25	989	989
At 28 February 26	989	989
Depreciation and impairment
At 01 March 25	956	956
Charge for year	8	8
At 28 February 26	964	964
Net book value
At 28 February 26	25	25
At 28 February 25	33	33

4.	Investment property
	The investment properties are included at open market value and these are deemed by the directors at 28 February 2026 to be represented by the value as disclosed.


		£
	Fair value at 01 March 25	851,530
	Additions	8,966
	Fair value adjustments	(45,496)
	At 28 February 26	815,000

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Prepayments and accrued income	1,748	1,654
Total	1,748	1,654

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	1,108	-
Taxation and social security	4,291	4,055
Accrued liabilities and deferred income	1,154	1,674
Total	6,553	5,729

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	298,130	336,422
Total	298,130	336,422

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	65,661	74,307
Total	65,661	74,307

9.	Revaluation reserve


		£
	Reserve at 01 March 25	316,767
	Revaluations of plant, property and equipment	(45,496)
	Deferred Tax on Revaluations	8,634
	At 28 February 26	279,905