Company No: 08822202 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Investments	3	502,122		502,122
		502,122		502,122
Current assets
Debtors	4	116,290		44,930
Cash at bank and in hand		169,664		99,883
		285,954		144,813
Creditors: amounts falling due within one year	5	( 642,584)		( 630,554)
Net current liabilities		(356,630)		(485,741)
Total assets less current liabilities		145,492		16,381
Net assets		145,492		16,381
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		145,392		16,281
Total shareholders' funds		145,492		16,381

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of REPI Limited (registered number: 08822202) were approved and authorised for issue by the Director on 11 September 2023. They were signed on its behalf by:

R T Hadwin Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

REPI Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stratton House Back Lane, Stoney Stratton, Shepton Mallet, BA4 6EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Fixed asset investments

	Investments in associates		Total
	£		£
Carrying value before impairment
At 01 January 2022	502,122		502,122
At 31 December 2022	502,122		502,122
Provisions for impairment
At 01 January 2022	0		0
At 31 December 2022	0		0
Carrying value at 31 December 2022	502,122		502,122
Carrying value at 31 December 2021	502,122		502,122

4. Debtors

	2022		2021
	£		£
Amounts owed by associates	116,290		44,930

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Amounts owed to director	613,421		613,421
Accruals	1,200		1,200
Corporation tax	27,963		15,933
	642,584		630,554

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.10 each	100		100

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2022		2021
	£		£
Amounts owed by associated companies	116,290		44,930

The loan is interest-free and has no fixed date for repayment.

Transactions with the entity's director

	2022		2021
	£		£
Amounts owed to director	613,421		613,421

The loan is interest-free and has no fixed date for repayment.