Rea Capital Group Ltd
Rea Capital Group Ltd
Registered number: 09731771
Unaudited Financial Statements
For The Year Ended
31 March 2023
Rea Capital Group Ltd
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
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| Company Information | 1 |
| Accountant's Report | 2 |
| Balance Sheet | 3—4 |
| Notes to the Financial Statements | 5—7 |
Rea Capital Group Ltd
Company Information
For The Year Ended
31 March 2023
Company Information
| Directors |
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| Company Number |
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| Registered Office | Hanover Buildings |
| 11-13 Hanover Street | |
| Liverpool | |
| Merseyside | |
| L1 3DN | |
| Accountants |
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| Chartered Accountants | |
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| 11-13 Hanover Street | |
| Liverpool | |
| Merseyside | |
| L1 3DN | |
Rea Capital Group Ltd
Accountant's Report
For The Year Ended
31 March 2023
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of
Rea Capital Group Ltd
For The Year Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
Rea Capital Group Ltd
For The Year Ended 31 March 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of
Rea Capital Group Ltd
, as a body, in accordance with the terms of our engagement letter dated 17 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of
Rea Capital Group Ltd
and state those matters that we have agreed to state to the directors of
Rea Capital Group Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Rea Capital Group Ltd
and its directors, as a body, for our work or for this report.
It is your duty to ensure that
Rea Capital Group Ltd
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 or loss of
Rea Capital Group Ltd
. You consider that
Rea Capital Group Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of
Rea Capital Group Ltd
. 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 financial statements.
| Signed |
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Chartered Accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Rea Capital Group Ltd
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
09731771
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 31 March 2023 | 31 March 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 41,141 | 10,493 | |||
Rea Capital Group Ltd
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
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Director
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The notes on pages 5 to 7 form part of these financial statements.
Rea Capital Group Ltd
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Rea Capital Group Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09731771
. The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These 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'.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures and fittings |
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| Computer equipment |
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2.4.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
Rea Capital Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Tangible Assets
| Fixtures and fittings | Computer equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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5.
Debtors
| 31 March 2023 | 31 March 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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6.
Creditors: Amounts Falling Due Within One Year
| 31 March 2023 | 31 March 2022 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2023 | 31 March 2022 | ||
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| £ | £ | ||
| Bank loans |
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The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
Rea Capital Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
| 31 March 2023 | 31 March 2022 | ||
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| £ | £ | ||
| Bank loans |
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9.
Related Party Transactions
The following related party transactions were undertaken during the year:
Dividends were paid to the directors totalling £42,000 (2022 : £42,000)
The aggregate remuneration paid to key management personnel for the year was £18,200 (202: £17,680).
At 31st March 2023 the company owed to its directors £14,798 (2022 : £592)
This loan is unsecured and interest free.
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.