REACH INTERNET LIMITED - Accounts

REACH INTERNET LIMITED - Accounts

REACH INTERNET LIMITED - Company Information

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Registered Number: 06974831
England and Wales

 

 

 

REACH INTERNET LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2020

End date: 31 July 2021

REACH INTERNET LIMITED
Contents Page
For the year ended 31 July 2021
Report to the directors on the preparation of the unaudited statutory accounts of REACH INTERNET LIMITED for the year ended 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of REACH INTERNET LIMITED for the year ended 31 July 2021 which comprise of 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 company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of REACH INTERNET LIMITED, as a body, in accordance with the terms of our engagement letter dated 08 November 2011 Our work has been undertaken solely to prepare for your approval the accounts of REACH INTERNET LIMITED and state those matters that we have agreed to state to the Board of Directors of REACH INTERNET LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than REACH INTERNET LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that REACH INTERNET LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of REACH INTERNET LIMITED. You consider that REACH INTERNET LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of REACH INTERNET LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 July 2021



....................................................
RAGAVAN AND CO LTD
CHARTERED CERTIFIED ACCOUNTANTS
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
29 April 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 16,709    26,126 
16,709    26,126 
Current assets      
Debtors 845,478    848,484 
Cash at bank and in hand 15,597    88,016 
861,075    936,500 
Creditors: amount falling due within one year (120,002)   (236,912)
Net current assets 741,073    699,588 
 
Total assets less current liabilities 757,782    725,714 
Creditors: amount falling due after more than one year (77,110)   (37,110)
Net assets 680,672    688,604 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 680,572    688,504 
Shareholder's funds 680,672    688,604 
 


For the year ended 31 July 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's 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 director on 29 April 2022 and were signed by:


--------------------------------
HARMOHAN PAL SOOD
Director
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General Information
REACH INTERNET LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06974831, registration address QUAY HOUSE THE WATERFRONT, LEVEL STREET , BRIERLEY HILL, WEST MIDLANDS, DY5 1XD

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.
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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
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:
Plant and Machinery 10% Straight Line
Motor Vehicles 10% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2020 : 8).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 August 2020 57,520    36,645    94,165 
Additions -    -    - 
Disposals -    -    - 
At 31 July 2021 57,520    36,645    94,165 
Depreciation
At 01 August 2020 43,688    24,351    68,039 
Charge for year 5,752    3,665    9,417 
On disposals -    -    - 
At 31 July 2021 49,440    28,016    77,456 
Net book values
Closing balance as at 31 July 2021 8,080    8,629    16,709 
Opening balance as at 01 August 2020 13,832    12,294    26,126 


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