Abbreviated Company Accounts - REAGALMAC LIMITED

NI018847 REAGALMAC LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true NI018847 2014-01-01 2014-12-31 NI018847 2014-12-31 NI018847 2013-12-31 NI018847 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 NI018847 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number NI018847

REAGALMAC LIMITED

Abbreviated Accounts

31 December 2014

REAGALMAC LIMITED Registered Number NI018847

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Current assets
Stocks		4,304,806	4,614,435
Debtors		607,265	607,265
Cash at bank and in hand		66,940	40,519
		4,979,011	5,262,219
Creditors: amounts falling due within one year	2	(6,776,554)	(7,010,348)
Net current assets (liabilities)		(1,797,543)	(1,748,129)
Total assets less current liabilities		(1,797,543)	(1,748,129)
Total net assets (liabilities)		(1,797,543)	(1,748,129)
Capital and reserves
Called up share capital	3	10,002	10,002
Profit and loss account		(1,807,545)	(1,758,131)
Shareholders' funds		(1,797,543)	(1,748,129)

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 September 2015

And signed on their behalf by:
Martin Rea, Director

REAGALMAC LIMITED Registered Number NI018847

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers

Other accounting policies
Exemption from preparing a cash flow statement
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement

Work in progress
Work in progress is stated at the lower of cost and net realisable value. Cost is defined as the aggregate cost of raw material, direct labour and the attributable proportion of direct production overheads based on a normal level of activity. Net realisable value is based on normal selling price, less further costs expected to be incurred to completion and disposal.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2Creditors

	2014 £	2013 £
Secured Debts	6,261,938	6,604,277

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
10,002 Ordinary shares of £1 each	10,002	10,002