AR Reay Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01449401 (England and Wales)

AR Reay Limited

Unaudited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

AR Reay

SECRETARY:

Mrs J Reay

REGISTERED OFFICE:

Edenlea

Culgaith

Penrith

Cumbria

CA10 1QE

REGISTERED NUMBER:

01449401 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Tangible assets

4

446

594

CURRENT ASSETS

Stocks

5

318,463

314,131

Debtors

6

255,209

256,071

Cash at bank

553

-

574,225

570,202

CREDITORS

Amounts falling due within one year

7

42,077

47,066

NET CURRENT ASSETS

532,148

523,136

TOTAL ASSETS LESS CURRENT LIABILITIES

532,594

523,730

CREDITORS

Amounts falling due after more than one year

8

393,964

374,198

NET ASSETS

138,630

149,532

CAPITAL AND RESERVES

Called up share capital

10

1,150

1,150

Retained earnings

137,480

148,382

SHAREHOLDERS' FUNDS

138,630

149,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 November 2018 and were signed by:

AR Reay - Director

1.	STATUTORY INFORMATION

AR Reay 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 (£) and the amounts in the

financial statements have been rounded to the nearest £1.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions

of the instrument. Basic financial assets, which include debtors, prepayments, bank balances and any

group borrowings, are initially measured at transaction price and are subsequently carried at cost

unless the arrangement indicates otherwise and then the asset is measured at the present value of the

future receipts discounted at a market rate of interest. Basic financial liabilities, which include

creditors, accruals, loans and any group borrowings, are initially recognised at transaction price and

are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is

measured at the present value of the future obligations discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

7,750

6,246

13,996

DEPRECIATION

At 1 April 2017

7,330

6,072

13,402

Charge for year

105

43

148

At 31 March 2018

7,435

6,115

13,550

NET BOOK VALUE

At 31 March 2018

315

131

446

At 31 March 2017

420

174

594

5.

STOCKS

2018

2017

£

£

Work-in-progress

318,463

314,131

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

2,282

2,528

VAT refund due

1,607

2,223

Other debtors

90

90

3,979

4,841

2018

2017

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

251,230

251,230

Aggregate amounts

255,209

256,071

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

4,098

Trade creditors

9,877

10,768

Directors' loan accounts

30,000

30,000

Accruals and deferred income

2,200

2,200

42,077

47,066

The directors' loan is unsecured and interest free.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Directors' loan account

393,964

374,198

The directors' loan is unsecured and interest free.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

4,098

The bank overdraft is secured on the assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,150

Ordinary

£1

1,150

1,150

11.	RELATED PARTY DISCLOSURES

In the director's opinion the company is ultimately controlled by Mr AR & Mrs J Reay who own 100% of

the ordinary shares of the ultimate holding company, Food Wastes and By-Products Limited, which is

registered in England and Wales.