Company Registration No. 08700410 (England and Wales)
REMEXX LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
REMEXX LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
REMEXX LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,519
-
Tangible assets
2
55,435
62,238
56,954
62,238
Current assets
Stocks
19,335
10,098
Debtors
24,653
55,220
Cash at bank and in hand
19,133
29,025
63,121
94,343
Creditors: amounts falling due within one year
3
(56,708)
(76,375)
Net current assets
6,413
17,968
Total assets less current liabilities
63,367
80,206
Creditors: amounts falling due after more than one year
4
(18,932)
(26,520)
Provisions for liabilities
(608)
(940)
43,827
52,746
Capital and reserves
Called up share capital
5
100
100
Revaluation reserve
43,497
48,900
Profit and loss account
230
3,746
Shareholders' funds
43,827
52,746
REMEXX LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 January 2016
Mr D Sussex
Mr P Clark
Director
Director
Company Registration No. 08700410
REMEXX LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company is reliant upon the support of its bankers. The financial statements have been prepared on a going concern basis on the assumption that this financial support will continue to be made available to the company. The directors have no reason to believe that such financial support will not continue for the foreseeable future.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Website
The website is written off in equal annual instalments over its estimated useful economic life.
is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
33% reducing balance and 15% reducing balance
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
REMEXX LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost or valuation
At 1 January 2015
-
62,790
62,790
Additions
2,025
-
2,025
At 31 December 2015
2,025
62,790
64,815
Depreciation
At 1 January 2015
-
552
552
Charge for the period
506
6,803
7,309
At 31 December 2015
506
7,355
7,861
Net book value
At 31 December 2015
1,519
55,435
56,954
At 31 December 2014
-
62,238
62,238
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £2,358 (2014 - £2,358).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £1,572 (2014 - £3,930).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
REMEXX LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 5 -
6
Related party relationships and transactions
Loans from directors
The following directors
made
interest free loans
to the company
during the year. The movement
s
on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr P Clark - Director Loan
-
24,463
-
-
6,369
18,094
Mr D Sussex - Director Loan
-
24,463
-
-
6,369
18,094
48,926
-
-
12,738
36,188
The directors have provided personal guarantees in respect of the company's bank loan.