Raptor Grafix Limited - Accounts

Raptor Grafix Limited - Accounts

RAPTOR GRAFIX LIMITED - Company Information

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Registered Number: 08475860
England and Wales

 

 

 

RAPTOR GRAFIX LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2020

End date: 30 April 2021

Raptor Grafix Limited
Contents Page
For the year ended 30 April 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
SRB Accountancy Limited
30 April 2021



....................................................
SRB Accountancy Limited
Compton Offices
King Edward Street
Ashbourne
Derbyshire
DE6 1BW
29 January 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 35,288    13,850 
35,288    13,850 
Current assets      
Stocks 1,500    1,500 
Debtors: amounts falling due within one year 19,150    8,552 
Cash at bank and in hand 30,545    8,652 
51,195    18,704 
Creditors: amount falling due within one year (69,732)   (34,590)
Net current liabilities (18,537)   (15,886)
 
Total assets less current liabilities 16,751    (2,036)
Creditors: amount falling due after more than one year (16,962)   (6,189)
Provisions for liabilities (717)   (69)
Net liabilities (928)   (8,294)
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account (929)   (8,295)
Shareholder's funds (928)   (8,294)
 


For the year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 January 2022 and were signed by:


--------------------------------
Mr J W Howson
Director
2
General Information
Raptor Grafix Limited is a private company, limited by shares, registered in England and Wales, registration number 08475860, registration address Compton Offices, King Edward Street, Ashbourne, Derbyshire, DE6 1BW

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2020 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 May 2020 12,749    26,297    2    556    39,604 
Additions -    24,670    -    358    25,028 
Disposals -    -    -    -    - 
At 30 April 2021 12,749    50,967    2    914    64,632 
Depreciation
At 01 May 2020 10,374    14,921    -    459    25,754 
Charge for year 594    2,844    -    152    3,590 
On disposals -    -    -    -    - 
At 30 April 2021 10,968    17,765    -    611    29,344 
Net book values
Closing balance as at 30 April 2021 1,781    33,202    2    303    35,288 
Opening balance as at 01 May 2020 2,375    11,376    2    97    13,850 


4.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2021
£		   2020
£
1 Ordinary share of £1.00 each 1    1 
1    1 

3