Rex Trade Associates Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06185306 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Rex Trade Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S K M Williams

A M Williams

Mrs H A Williams

SECRETARY:

Miss L Sheppard

REGISTERED OFFICE:

54 St. Marys Lane

Upminster

Essex

RM14 2QT

REGISTERED NUMBER:

06185306 (England and Wales)

FIXED ASSETS

Investments

4

400

200

CURRENT ASSETS

Debtors

5

6,148,665

6,386,184

Cash at bank

281,867

468,435

6,430,532

6,854,619

CREDITORS

Amounts falling due within one year

6

1,992,982

4,596,001

NET CURRENT ASSETS

4,437,550

2,258,618

TOTAL ASSETS LESS CURRENT LIABILITIES

4,437,950

2,258,818

CAPITAL AND RESERVES

Called up share capital

7

1,123,160

1,123,160

Retained earnings

3,314,790

1,135,658

SHAREHOLDERS' FUNDS

4,437,950

2,258,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by:

S K M Williams - Director

1.	STATUTORY INFORMATION

Rex Trade Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors consider the budgeted income, expenditure and cash flows to be sufficient with the level of reserves for the company to be able to continue as a going concern.

The directors have assessed to the best of their abilities the current and potential future impact of the COVID-19 pandemic, to ensure that the company can maintain it's day to day activities. The directors will take whatever measures they consider to be required during this time to enable the company to continue its operations.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Cash and cash equivalents

These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or less.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

200

Additions

200

At 31 March 2023

400

NET BOOK VALUE

At 31 March 2023

400

At 31 March 2022

200

5.

DEBTORS

31.3.23

31.3.22

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

3,211,410

4,161,510

Amounts owed by participating interests

246,991

226,218

Other debtors

2,690,264

1,993,456

6,148,665

6,381,184

Amounts falling due after more than one year:

Other debtors

-

5,000

Aggregate amounts

6,148,665

6,386,184

The amount owed by group undertakings is secured against the assets of the undertaking concerned.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

24

-

Amounts owed to group undertakings

1,200,100

-

Taxation and social security

397,395

663

Other creditors

395,463

4,595,338

1,992,982

4,596,001

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

1,123,160

Ordinary

£1

1,123,160

1,123,160