Registration number:
for the Period from 24 January 2020 to
Within Reach (South West) Limited
(Registration number: 12423833)
Balance Sheet as at 30 April 2021
Note |
30 April 2021 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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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 liabilities |
( |
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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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Deferred tax liabilities |
(4,521) |
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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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Revaluation reserve |
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Profit and loss account |
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Total equity |
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For the financial period ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Company secretary and director
Within Reach (South West) Limited
Notes to the Unaudited Financial Statements for the Period from 24 January 2020 to 30 April 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Maxet House
22 Lansdown Industrial Estate
Gloucester Road
Cheltenham
GL51 8PL
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's current forecasts and projections, together with the facilities available to the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. This statement is made subject to all of the potential implications of the current COVID-19 outbreak on the company’s trade, employees, customers, suppliers and the wider economy, as these are difficult to evaluate. Actual results could therefore be significantly different from the current forecasts and projections.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable in respect of the investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Within Reach (South West) Limited
Notes to the Unaudited Financial Statements for the Period from 24 January 2020 to 30 April 2021
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Within Reach (South West) Limited
Notes to the Unaudited Financial Statements for the Period from 24 January 2020 to 30 April 2021
Financial instruments
Classification
Recognition and measurement
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
£ |
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Additions |
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Fair value adjustments |
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At 30 April 2021 |
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At 30 April 2021 the investment property was valued by the director on an open market basis.
There has been no valuation of investment property by an independent valuer.
Within Reach (South West) Limited
Notes to the Unaudited Financial Statements for the Period from 24 January 2020 to 30 April 2021
Investments |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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Additions |
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At 30 April 2021 |
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Carrying amount |
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At 30 April 2021 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
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Subsidiary undertakings |
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C/O Hazlewoods Llp Windsor House, Bayshill Road, Cheltenham, United Kingdom, GL50 3AT England and Wales |
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Subsidiary undertakings |
Within Reach Services Limited The principal activity of Within Reach Services Limited is |
Debtors |
Note |
30 April 2021 |
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Amounts owed by related parties |
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Within Reach (South West) Limited
Notes to the Unaudited Financial Statements for the Period from 24 January 2020 to 30 April 2021
Creditors |
Note |
30 April 2021 |
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Due within one year |
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Loans and borrowings |
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Amounts due to related parties |
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Accrued expenses |
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Note |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Note |
2021 |
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Current loans and borrowings |
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Other borrowings |
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2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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The bank borrowings are secured on the investment property.
Related party transactions |
Summary of transactions with other related parties
At 30 April 2021 the company owed £11,900 to the directors. No interest was charged on this balance and there are no fixed repayment terms.
At 30 April 2021 the company was owed £31,033 by Within Reach Services Limited, its wholly owned subsidiary. No interest was charged on this balance and there are no fixed repayment terms.