Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Reynolds Limited
Contents
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5 ) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Reynolds Limited
for the Year Ended 29 February 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reynolds Limited for the year ended 29 February 2016 set out on pages from the company's accounting records and from information and explanations you have given us.
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 at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Reynolds Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Reynolds Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reynolds Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Reynolds Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Reynolds Limited. You consider that Reynolds Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Reynolds 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 accounts.
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Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY
10 November 2016
Reynolds Limited
(Registration number: 00461520)
Abbreviated Balance Sheet at 29 February 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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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 |
( |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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N A Reynolds
Director
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M N Reynolds
Director
2
Reynolds Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued
Accounting policies |
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis.
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Freehold property |
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Leasehold property |
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Fixtures & fittings |
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Motor vehicles |
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Investment properties
Stock
Deferred tax
Hire purchase and leasing
Reynolds Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued
Financial instruments
Pensions
Fixed assets |
Tangible assets
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Total
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Cost |
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At 1 March 2015 |
4,314,761 |
4,314,761 |
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Additions |
236,886 |
236,886 |
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Disposals |
(382,473) |
(382,473) |
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At 29 February 2016 |
4,169,174 |
4,169,174 |
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Depreciation |
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At 1 March 2015 |
778,892 |
778,892 |
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Charge for the year |
76,924 |
76,924 |
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Eliminated on disposals |
(97,185) |
(97,185) |
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At 29 February 2016 |
758,631 |
758,631 |
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Net book value |
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At 29 February 2016 |
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At 28 February 2015 |
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Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2016
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2015
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Amounts falling due within one year |
95,738 |
99,841 |
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Amounts falling due after more than one year |
348,151 |
433,217 |
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Total secured creditors |
443,889 |
533,058 |
Reynolds Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Related party transactions |
Directors' advances and credits |
2016 |
2016 |
2015 |
2015 |
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D J Reynolds |
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J B Reynolds |
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91 |
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S J Reynolds |
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21 |
18 |
N A Reynolds |
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