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Registered number: 12337395
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Reeves Group Holdings Limited
Financial statements
Information for filing with the registrar
31 December 2022
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Reeves Group Holdings Limited
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Balance sheet
As at 31 December 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Shareholder's (deficit) / funds
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1
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Reeves Group Holdings Limited
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Balance sheet (continued)
As at 31 December 2022
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 July 2023.
Company registered number: 12337395
The notes on pages 3 to 5 form part of these financial statements.
2
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Reeves Group Holdings Limited
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Notes to the financial statements
For the Year Ended 31 December 2022
The Company is a private limited company, which is incorporate in Engalnd and Wales (company number:
12337395). The address of the registered office is Park View House Front Street, Benton, Newcastle upon
Tyne, NE7 7TZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life
The estimated useful lives range as follows:
Investments in subsidiaries are measured at cost less accumulated impairment.
Basic financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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The average monthly number of employees, including directors, during the year was 1 (2021 - 1).
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3
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Reeves Group Holdings Limited
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Notes to the financial statements
For the Year Ended 31 December 2022
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Investments in subsidiary companies
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4
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Reeves Group Holdings Limited
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Notes to the financial statements
For the Year Ended 31 December 2022
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Related party transactions
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During the year, the company used a loan account to record amounts due to and from Reeves Independent Limited. At the year end, the balance owed by the company to Reeves Independent Limited was £1,591,960 (2021 - £359,263). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year, the company used a loan account to record amounts due to and from Reeves Independent (Acquisitions) Limited. At the year end, the balance owed by the company to Reeves Independent (Acquisitions) Limited was £100 (2021 - £100). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year, the company used a loan account to record amounts due to and from Reeves Business Services Limited. At the year end, the balance owed by the company to Reeves Business Services Limited was £100 (2021 - £51). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year, the company used a loan account to record amounts due to and from Reeves Investment Services Limited. At the year end, the balance owed by the company to Reeves Investment Services Limited was £100 (2021 - £100). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
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5
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