Rea Distribution Limited - Accounts to registrar (filleted) - small 18.2
Rea Distribution Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Rea Distribution Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2018 |
| Rea Distribution Limited (Registered number: NI015148) |
| Contents of the Financial Statements |
| for the year ended 31 August 2018 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 3 |
| Rea Distribution Limited (Registered number: NI015148) |
| Balance Sheet |
| 31 August 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Prepayments and accrued income |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their 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. |
| Rea Distribution Limited (Registered number: NI015148) |
| Balance Sheet - continued |
| 31 August 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Rea Distribution Limited (Registered number: NI015148) |
| Notes to the Financial Statements |
| for the year ended 31 August 2018 |
| 1. | Statutory information |
| Rea Distribution Limited is a |
| company's registered number and registered office address are as below: |
| Registered number: | NI015148 |
| Registered office: | 62-82 Greystone Road |
| Antrim |
| Co. Antrim |
| BT41 2QN |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable, loans form banks |
| and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| 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. |
| Rea Distribution Limited (Registered number: NI015148) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2018 |
| 2. | Accounting policies - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid |
| investments that are readily convertible to a known amount of cash and are subject to an insignificant |
| risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the |
| ordinary course of business. |
| Trade debtors are recognised initially at the transaction price. They are subsequently measured at |
| amortised cost using the effective interest method, less provision for impairment, A provision for the |
| impairment of trade debtors is established when there is objective evidence that the company will not |
| be able to collect all amounts due according to the original terms of the receivables. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary |
| course of business from suppliers. Accounts payable are classified as current liabilities if the company |
| does not have an unconditional right, at the end of the reporting period, to defer settlement of the |
| creditor for at least twelve months after the reporting date. If there is an unconditional right to defer |
| settlement for at least twelve months after the reporting date, they are presented as non-current |
| liabilities. |
| Trade creditors are recognised initially at the transaction price and subsequently measured at |
| amortised cost using the effective interest method. |
| Borrowings |
| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing |
| borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net |
| of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and |
| Loss Account over the period of the relevant borrowing. |
| Interest expense is recognised on the basis of the effective interest method and is included in interest |
| payable and similar charges |
| Borrowings are classified as current liabilities unless the company has an unconditional right to defer |
| settlement of the liability for at least twelve months after the reporting date. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Rea Distribution Limited (Registered number: NI015148) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2018 |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 September 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 August 2018 |
| Depreciation |
| At 1 September 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 August 2018 |
| Net book value |
| At 31 August 2018 |
| At 31 August 2017 |
| 5. | Debtors: amounts falling due within one year |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Bad debt provision | - | (1,944 | ) |
| Tax |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Pensions payable | 2,038 | 587 |
| VAT | 25,872 | 46,671 |
| Other creditors |
| Directors' current accounts | 278 | 4,861 |
| Accruals and deferred income |
| 7. | Creditors: amounts falling due after more than one year |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Rea Distribution Limited (Registered number: NI015148) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2018 |
| 8. | Secured debts |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | 344,894 | 198,937 |
| The hire purchase creditors are secured against the asset on which the hire purchase agreement is |
| taken out on. |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |