Company Registration No. 03484563 (England and Wales)
RASA LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
RASA LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
RASA LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
252,533
252,533
Tangible assets
2
81,097
91,499
333,630
344,032
Current assets
Stocks
15,978
15,440
Debtors
123,005
140,168
Cash at bank and in hand
537
536
139,520
156,144
Creditors: amounts falling due within one year
(174,332)
(145,743)
Net current (liabilities)/assets
(34,812)
10,401
Total assets less current liabilities
298,818
354,433
Capital and reserves
Called up share capital
3
202
202
Share premium account
199,900
199,900
Profit and loss account
98,716
154,331
Shareholders' funds
298,818
354,433
For the financial year ended 31 December 2014 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 29 September 2015
Mr S Sreedharan
Director
Company Registration No. 03484563
RASA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
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 April 2008).
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
Goodwill
Goodwill is recognised as an asset and is not amortised, but is reviewed for impairment at least annually. Any impairment is recognised immediately in the income statement.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% on cost
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
Fully depreciated
1.6
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
RASA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2014
344,804
396,303
741,107
Additions
-
4,281
4,281
At 31 December 2014
344,804
400,584
745,388
Depreciation
At 1 January 2014
92,271
304,804
397,075
Charge for the year
-
14,683
14,683
At 31 December 2014
92,271
319,487
411,758
Net book value
At 31 December 2014
252,533
81,097
333,630
At 31 December 2013
252,533
91,499
344,032
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
101 Ordinary of £1 each
101
101
101 Ordinary class B of £1 each
101
101
202
202
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