Reed Residential Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06281646 (England and Wales)

REED RESIDENTIAL LIMITED

Unaudited Financial Statements

For The Year Ended 31 August 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Reed

Mrs H A Reed

REGISTERED OFFICE:

431-435 London Road

Westcliff on Sea

Essex

SS0 7HU

REGISTERED NUMBER:

06281646 (England and Wales)

FIXED ASSETS

Tangible assets

4

24,848

14,180

CURRENT ASSETS

Debtors

5

62,188

65,870

Cash at bank and in hand

32,149

12,180

94,337

78,050

CREDITORS

Amounts falling due within one year

6

110,553

79,341

NET CURRENT LIABILITIES

(16,216

)

(1,291

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,632

12,889

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,532

12,789

SHAREHOLDERS' FUNDS

8,632

12,889

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 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 Board of Directors on 31 May 2018 and were signed on its behalf by:

A Reed - Director

1.	STATUTORY INFORMATION

Reed Residential 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

In the opinion of the directors, it remains appropriate to continue to adopt the going concern basis of accounting.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions

about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates

and underlying assumptions are based on historical experience and other factors that are considered to be

relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or

past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and

other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against

future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date

that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Trade and other receivables

Trade and other receivables are measured at transaction price less any impairment unless the arrangement

constitutes a financing transaction in which case the transaction is measured at the present value of the future

receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are

subsequently measured at mortised cost using effective interest method less any impairment.

Trade and other payables

Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing

transaction in which case the transaction is measured at present value of future payments discounted at prevailing

market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs.

They are subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2016

21,070

32,459

7,663

18,721

79,913

Additions

-

13,930

-

804

14,734

At 31 August 2017

21,070

46,389

7,663

19,525

94,647

DEPRECIATION

At 1 September 2016

21,070

26,661

639

17,363

65,733

Charge for year

-

2,094

1,405

567

4,066

At 31 August 2017

21,070

28,755

2,044

17,930

69,799

NET BOOK VALUE

At 31 August 2017

-

17,634

5,619

1,595

24,848

At 31 August 2016

-

5,798

7,024

1,358

14,180

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

372

13,477

Amounts owed by group undertakings

53,402

38,026

Other debtors

4,530

6,262

Directors' current accounts

-

651

Prepayments and accrued income

3,884

7,454

62,188

65,870

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

44,999

15,069

Taxation and social security

40,737

44,252

Other creditors

24,817

20,020

110,553

79,341

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Reed.

8.	FIRST YEAR ADOPTION

This is the first year that Reed Residential Limited has prepared its results under FRS 102. The last financial

statements prepared under previous UK GAAP were for the year ended 31st August 2016. The date of transition

to FRS 102 was 1st September 2016.

No transition differences have been identified on transition from previous UK GAAP to FRS 102. As such, no

transition tables are presented showing the differences between the financial statements as presented under

previous GAAP and as presented under FRS 102.