AR Reay Limited - Accounts to registrar (filleted) - small 18.2
AR Reay Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AR Reay Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2020 |
| AR Reay Limited (Registered number: 01449401) |
| Contents of the Financial Statements |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| AR Reay Limited |
| Company Information |
| for the year ended 31 March 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 28 Eaton Avenue |
| Matrix Office Park |
| Buckshaw Village |
| Chorley |
| Lancashire |
| PR7 7NA |
| AR Reay Limited (Registered number: 01449401) |
| Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| AR Reay Limited (Registered number: 01449401) |
| Balance Sheet - continued |
| 31 March 2020 |
| 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 |
| AR Reay Limited (Registered number: 01449401) |
| Notes to the Financial Statements |
| for the year ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| AR Reay Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1. |
| 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 | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Financial instruments |
| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments, bank balances and any group borrowings, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, loans and any group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| AR Reay Limited (Registered number: 01449401) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Work-in-progress |
| 6. | DEBTORS |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| VAT refund due | 755 | 1,090 |
| AR Reay Limited (Registered number: 01449401) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 6. | DEBTORS - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Directors' loan accounts | 30,000 | 30,000 |
| Accruals and deferred income |
| The directors' loan is unsecured and interest free. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other Loans | 230,000 | - |
| Directors' loan account | 164,576 | 399,944 |
| The other loans are secured on the assets of the company and is repayable in full by 2035 although there are no fixed annual repayments. Interest is payable at 1% over Barclays Bank base rate on this loan. |
| The directors' loan is unsecured and interest free. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Other loans | 230,000 | - |
| The other loans are secured on the property held by the company. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 1,150 | 1,150 |
| AR Reay Limited (Registered number: 01449401) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 11. | RELATED PARTY DISCLOSURES |
| In the director's opinion the company is ultimately controlled by Mr AR Reay, director, who owns 100% of the ordinary shares of the ultimate holding company, Food Wastes and By-Products Limited, which is registered in England and Wales. |