Realacre Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07874198 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Realacre Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Clifton David Dudley

Malcolm Edge

Thomas Gerard Myerscough

REGISTERED OFFICE:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

REGISTERED NUMBER:

07874198 (England and Wales)

ACCOUNTANTS:

Thompson Jones Business Solutions Limited

2 Heap Bridge

Bury

Lancashire

BL9 7HR

CURRENT ASSETS

Stocks

5

1,508,870

1,550,432

Debtors

6

27

828

Cash at bank

620

570

1,509,517

1,551,830

CREDITORS

Amounts falling due within one year

7

(222,150

)

(82,365

)

NET CURRENT ASSETS

1,287,367

1,469,465

TOTAL ASSETS LESS CURRENT LIABILITIES

1,287,367

1,469,465

CREDITORS

Amounts falling due after more than one year

8

(1,327,154

)

(1,382,668

)

NET (LIABILITIES)/ASSETS

(39,787

)

86,797

CAPITAL AND RESERVES

Called up share capital

9

150

150

Retained earnings

(39,937

)

86,647

SHAREHOLDERS' FUNDS

(39,787

)

86,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2024 and were signed on its behalf by:

Malcolm Edge - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

The principal place of business is:

Height Barn Farm

Harwood Road

Tottington

Bury

Lancashire

BL8 3PR

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention.

REVENUE RECOGNITION

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

It is probable that future economic benefits will flow to the entity;

and Specific criteria have been met for each of the company's activities.

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

GOING CONCERN BASIS OF ACCOUNTING

The Directors confirm that, after due consideration they have a reasonable expectation that the Company has adequate resources to continue in business for at least 12 months from the date of signing the financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5.

STOCKS

2023

2022

£

£

Stocks

1,508,870

1,550,432

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

27

828

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

222,150

82,365

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

1,327,154

1,382,668

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

150

Ordinary

£1

150

150