Reid & Wright Ltd Filleted accounts for Companies House (small and micro)

2 false false false false false false false false false true false false false false false false No description of principal activity 2021-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09617433 2021-07-01 2022-06-30 09617433 2022-06-30 09617433 2020-07-01 2021-06-30 09617433 2021-06-30 09617433 bus:Director1 2021-07-01 2022-06-30 09617433 bus:Director2 2021-07-01 2022-06-30 09617433 core:WithinOneYear 2022-06-30 09617433 core:WithinOneYear 2021-06-30 09617433 core:ShareCapital 2022-06-30 09617433 core:ShareCapital 2021-06-30 09617433 core:RetainedEarningsAccumulatedLosses 2022-06-30 09617433 core:RetainedEarningsAccumulatedLosses 2021-06-30 09617433 bus:SmallEntities 2021-07-01 2022-06-30 09617433 bus:AuditExemptWithAccountantsReport 2021-07-01 2022-06-30 09617433 bus:AbridgedAccounts 2021-07-01 2022-06-30 09617433 bus:SmallCompaniesRegimeForAccounts 2021-07-01 2022-06-30 09617433 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30

COMPANY REGISTRATION NUMBER: 09617433

Reid & Wright Ltd

Filleted Unaudited Abridged Financial Statements

30 June 2022

Reid & Wright Ltd

Abridged Financial Statements

Year ended 30 June 2022

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Reid & Wright Ltd

Abridged Statement of Financial Position

30 June 2022

	2022	2021
Note	£	£

Current assets

Stocks	500	640
Cash at bank and in hand	7,080	13,509
	-------	--------
	7,580	14,149

Creditors: amounts falling due within one year	17,125	12,932
	--------	--------
Net current (liabilities)/assets	( 9,545)	1,217
	-------	-------
Total assets less current liabilities	( 9,545)	1,217
	-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 9,645)	1,117
	-------	-------
Shareholders (deficit)/funds	( 9,545)	1,217
	-------	-------

These abridged 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 ;

- 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 .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 June 2022 in accordance with Section 444(2A) of the Companies Act 2006.

Reid & Wright Ltd

Abridged Statement of Financial Position (continued)

30 June 2022

These abridged financial statements were approved by the board of directors and authorised for issue on 15 March 2023 , and are signed on behalf of the board by:

Mrs S Wright	Mrs N Reid
Director	Director

Company registration number: 09617433

Reid & Wright Ltd

Notes to the Abridged Financial Statements

Year ended 30 June 2022

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

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

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

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 (2021: 2 ).

5. Directors' advances, credits and guarantees

At the year end the the company owed the directors £13,452 (2021: £11,212) in non-interest bearing loans.

6. Related party transactions

During the year the company paid Mrs S Wright nil (2021: £2,000) & Mrs N Reid nil (2021: £2,000) in dividends.