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Unaudited Financial Statements for the Year Ended 30 November 2019 |
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REEFWOOD LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 November 2019 |
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for |
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REEFWOOD LIMITED |
REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Contents of the Financial Statements |
for the year ended 30 November 2019 |
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Page |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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REEFWOOD LIMITED |
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Company Information |
for the year ended 30 November 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Reefwood Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Reefwood Limited for the year ended 30 November 2019 which comprise the |
Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the |
company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Reefwood Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reefwood Limited and state those matters that we have agreed to state to the Board of Directors of Reefwood Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reefwood Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Reefwood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Reefwood Limited. You consider that Reefwood Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Reefwood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
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REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Balance Sheet |
30 November 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Balance Sheet - continued |
30 November 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Notes to the Financial Statements |
for the year ended 30 November 2019 |
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1. | STATUTORY INFORMATION |
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Reefwood Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax, recognised when |
services have been rendered. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of |
financial assets and liabilities like trade and other debtors, loans from banks and other third parties. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each |
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an |
impairment loss is recognised in the income statement. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference |
between an asset's carrying amount and the present value of estimated cash flows discounted at the |
asset's original effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the |
difference between an asset's carrying amount and the best estimate, which is an approximation, of |
the amount the company would receive for the assets if it were to be sold at the reporting date. |
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Financial assets and liabilities are offset and the net amount reported in the balance sheet when there |
is an enforceable right to set off the recognised amounts and there is an intention to settle on a net |
basis or to realise the asset and settle the liability simultaneously. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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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. |
REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2018 |
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Additions |
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At 30 November 2019 |
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DEPRECIATION |
At 1 December 2018 |
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Charge for year |
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At 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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REEFWOOD LIMITED (REGISTERED NUMBER: 02392750) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2019 |
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8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 523 | 1,054 |
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Deferred |
tax |
£ |
Balance at 1 December 2018 |
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Accelerated capital allowances | (531 | ) |
Balance at 30 November 2019 |
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9. | LEASING AGREEMENTS |
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At the year end the company was committed to making operating lease payments totalling £307,208 |
(2018: £343,708). |