Reid & Wright Ltd Filleted accounts for Companies House (small and micro)
Reid & Wright Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
09617433
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Abridged Financial Statements |
Year ended 30 June 2021
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
Current assets
Stocks |
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Debtors |
– |
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Cash at bank and in hand |
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-------- |
-------- |
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Creditors: amounts falling due within one year |
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-------- |
-------- |
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Net current assets |
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------- |
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Total assets less current liabilities |
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------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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------- |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
31 March 2022
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
09617433
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Notes to the Abridged Financial Statements |
Year ended 30 June 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Emlyn Road, London, United Kingdom, W12 9TD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Stocks
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2020:
2
).
5.
Directors' advances, credits and guarantees
At the year end the the company owed the directors £11,212 (2020: £8,532) in non-interest bearing loans.
6.
Related party transactions
During the year the company paid
Mrs S Wright
£2,000 (2020: nil) & Mrs N Reid
£2,000 (2020: nil) in dividends.