Reflex Sales and Marketing Limited - Accounts

Reflex Sales and Marketing Limited - Accounts

REFLEX SALES AND MARKETING LIMITED - Company Information

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Registered Number: 07207209
England and Wales

 

 

 

REFLEX SALES AND MARKETING LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2019

End date: 30 September 2020

Reflex Sales and Marketing Limited
Contents Page
For the year ended 30 September 2020
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 September 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Hawthorn Accountancy Solutions Limited
30 September 2020



....................................................
Hawthorn Accountancy Solutions Limited
Sandringham House
1-3 Cemetery Road
Bridgend
CF31 1LY
08 June 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 174,025    152,400 
Investments 87    1 
174,112    152,401 
Current assets      
Stocks 1,889,320    1,674,925 
Debtors 726,649    352,904 
2,615,969    2,027,829 
Creditors: amount falling due within one year (1,428,247)   (1,010,462)
Net current assets 1,187,722    1,017,367 
 
Total assets less current liabilities 1,361,834    1,169,768 
Creditors: amount falling due after more than one year (339,626)   (249,750)
Net assets 1,022,208    920,018 
 

Capital and reserves 		     
Called up share capital 550,100    550,100 
Profit and loss account 472,108    369,918 
Shareholders funds 1,022,208    920,018 
 


For the year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 June 2021 and were signed on its behalf by:


--------------------------------
Leighton Samuel
Director
2
General Information
Reflex Sales and Marketing Limited is a private company, limited by shares,registered in England and Wales,registration number 07207209,registration address Unit B10 Cheapside, Bridgend Industrial Estate, Bridgend, CF31 3UN

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 10% Straight Line
Plant and Machinery 20% Straight Line
Fixtures and Fittings 15% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
2.

Average number of employees

Average number of employees during the year was 36 (2019 : 36).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2019 11,250    11,250 
Additions -    - 
Disposals -    - 
At 30 September 2020 11,250    11,250 
Amortisation
At 01 October 2019 11,250    11,250 
Charge for year -    - 
On disposals -    - 
At 30 September 2020 11,250    11,250 
Net book values
At 30 September 2020 -    - 
At 30 September 2019 -    - 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 October 2019 146,415    192,989    -    201,131    540,535 
Additions -    3,977    38,655    15,623    58,255 
Disposals -    -    -    -    - 
At 30 September 2020 146,415    196,966    38,655    216,754    598,790 
Depreciation
At 01 October 2019 16,947    175,211    -    195,978    388,136 
Charge for year 14,642    11,142    7,284    3,561    36,629 
On disposals -    -    -    -    - 
At 30 September 2020 31,589    186,353    7,284    199,539    424,765 
Net book values
Closing balance as at 30 September 2020 114,826    10,613    31,371    17,215    174,025 
Opening balance as at 01 October 2019 129,469    17,778    -    5,153    152,400 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 October 2019 1    1 
Additions 86    86 
Disposals -    - 
At 30 September 2020 87    87 

3