Accounts filed on 31-07-2020

Accounts filed on 31-07-2020

REACH INTERNET LIMITED - Company Information

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Registered number: 06974831
REACH INTERNET LTD
ACCOUNTS
FOR THE YEAR ENDED 31/07/2020
Prepared By:
RAGAVAN AND CO LTD
Chartered Certified Accountants
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
REACH INTERNET LTD
ACCOUNTS
FOR THE YEAR ENDED 31/07/2020
DIRECTORS
HARMOHAN PAL SOOD
REGISTERED OFFICE
QUAY HOUSE
The Waterfront, Level Street
Brierley Hill
West Midlands
DY5 1XD
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06974831
BANKERS
HSBC
ACCOUNTANTS
RAGAVAN AND CO LTD
Chartered Certified Accountants
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
REACH INTERNET LTD
ACCOUNTS
FOR THEYEARENDED31/07/2020
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
REACH INTERNET LTD
BALANCE SHEET AT 31/07/2020
20202019
Notes££
FIXED ASSETS
Tangible assets326,12635,543
CURRENT ASSETS
Debtors4848,484690,207
Cash at bank and in hand88,01615,498
936,500705,705
CREDITORS: Amounts falling due within one year5236,912139,605
NET CURRENT ASSETS699,588566,100
TOTAL ASSETS LESS CURRENT LIABILITIES725,714601,643
CREDITORS: Amounts falling due after more than one year637,110-
NET ASSETS688,604601,643
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account688,504601,543
SHAREHOLDERS' FUNDS688,604601,643
For the year ending 31/07/2020 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 30/04/2021 and signed on their behalf by
.............................
HARMOHAN PAL SOOD
Director
REACH INTERNET LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2020
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinerystraight line 10%
Commercial Vehiclesstraight line 10%
1c. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1d. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
2. EMPLOYEES
20202019
No.No.
Average number of employees86
REACH INTERNET LTD
3. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesTotal
£££
Cost
At 01/08/201957,52136,64594,166
At 31/07/202057,52136,64594,166
Depreciation
At 01/08/201937,93720,68658,623
For the year5,7523,6659,417
At 31/07/202043,68924,35168,040
Net Book Amounts
At 31/07/202013,83212,29426,126
At 31/07/201919,58415,95935,543
4. DEBTORS 20202019
££
Amounts falling due within one year
Trade debtors443,996552,271
Loans to other companies401,338133,200
Prepayments3,1503,150
Directors current account-1,586
848,484690,207
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20202019
££
UK corporation tax91,74148,011
VAT21,32025,613
PAYE control260612
Directors current account60,417-
Trade creditors57,07461,429
Other creditors1,3001,440
Accruals4,8002,500
236,912139,605
REACH INTERNET LTD
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20202019
££
Loans >1yr37,110-
37,110-
7. SHARE CAPITAL 20202019
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100