Reliatec Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06551073 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

Reliatec Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M Davies

SECRETARY:

R M Davies

REGISTERED OFFICE:

21 Gold Tops

Newport

South Wales

NP20 4PG

REGISTERED NUMBER:

06551073 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Tangible assets

4

139,271

140,771

Investments

5

2

2

139,273

140,773

CURRENT ASSETS

Debtors

6

3,304

3,791

Cash at bank and in hand

2,368

1,505

5,672

5,296

CREDITORS

Amounts falling due within one year

7

30,663

28,586

NET CURRENT LIABILITIES

(24,991

)

(23,290

)

TOTAL ASSETS LESS CURRENT LIABILITIES

114,282

117,483

CREDITORS

Amounts falling due after more than one year

8

60,127

67,864

NET ASSETS

54,155

49,619

CAPITAL AND RESERVES

Called up share capital

10

4

4

Retained earnings

54,151

49,615

SHAREHOLDERS' FUNDS

54,155

49,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 October 2017 and were signed by:

R M Davies - Director

1.	STATUTORY INFORMATION

Reliatec Holdings Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

The financial statements have been prepared on the going concern basis as the directors believe that

the company will be able to obtain sufficient funding to secure the continued financing of the

company's activities for the foreseeable future.

The significant accounting policies applied in the presentation of these financial statements are set out

below. These policies have been consistently applied to all periods presented unless otherwise stated.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 February 2016

and 31 January 2017

151,271

DEPRECIATION

At 1 February 2016

10,500

Charge for year

1,500

At 31 January 2017

12,000

NET BOOK VALUE

At 31 January 2017

139,271

At 31 January 2016

140,771

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2016

and 31 January 2017

2

NET BOOK VALUE

At 31 January 2017

2

At 31 January 2016

2

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Reliatec Limited

Registered office:

Nature of business: Sales and service of medical equipment

%

Class of shares:

holding

Ordinary shares

100.00

31.1.17

31.1.16

£

£

Aggregate capital and reserves

91,853

93,410

Profit for the year

3,443

16,124

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

3,304

3,304

Other debtors

-

487

3,304

3,791

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans and overdrafts

10,595

10,595

Amounts owed to group undertakings

16,802

14,802

Taxation and social security

1,566

1,539

Other creditors

1,700

1,650

30,663

28,586

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans

60,127

67,864

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Bank loans

70,722

78,459

The bank loan is secured by fixed and floating charges over the undertaking and all property and

assets present and future including goodwill, book debts, uncalled capital and buildings.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.17

31.1.16

value:

£

£

4

Ordinary shares

£1

4

4

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2016 - £13,250) were paid to the directors .

During the period, the company charged storage charges to the value of £12,000 (2016 £12,000) to

Reliatec Limited, the subsidiary of Reliatec Holdings Limited. Reliatec Ltd also paid dividends of

£5,000 (2015 £13,250) to Reliatec Holdings Ltd during the period.

At the year end, the company owed £16,802 (2016 £14,802) to Reliatec Limited.

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting

Standard 102 (FRS 102). As a result of the transition to Financial Reporting Standard 102 there have

been no changes to the opening balance sheet as at 1 February 2015 or the closing balance sheet as at

31 January 2016.