Rayward Installations Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08409886 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Rayward Installations Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

J C Rayward

Secretary:

N Rayward

Registered office:

7 Bell Yard

London

WC2A 2JR

Registered number:

08409886 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Tangible assets

4

3,988

2,539

Current assets

Stocks

6,000

5,200

Debtors

5

205,733

102,712

211,733

107,912

Creditors

Amounts falling due within one year

6

183,372

57,729

Net current assets

28,361

50,183

Total assets less current liabilities

32,349

52,722

Creditors

Amounts falling due after more than one year

7

22,714

32,387

Net assets

9,635

20,335

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9,535

20,235

Shareholders' funds

9,635

20,335

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2023 and were signed by:

J C Rayward - Director

1.	Statutory information

Rayward Installations Ltd 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.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

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

4.	Tangible fixed assets

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 April 2022

7,962

-

2,108

10,070

Additions

-

2,708

-

2,708

At 31 March 2023

7,962

2,708

2,108

12,778

Depreciation

At 1 April 2022

5,825

-

1,706

7,531

Charge for year

534

542

183

1,259

At 31 March 2023

6,359

542

1,889

8,790

Net book value

At 31 March 2023

1,603

2,166

219

3,988

At 31 March 2022

2,137

-

402

2,539

5.

Debtors: amounts falling due within one year

31/3/23

31/3/22

£

£

Trade debtors

168,883

83,017

Other debtors

36,850

19,695

205,733

102,712

6.

Creditors: amounts falling due within one year

31/3/23

31/3/22

£

£

Bank loans and overdrafts

54,695

40,982

Trade creditors

114,021

-

Taxation and social security

4,517

11,591

Other creditors

10,139

5,156

183,372

57,729

7.

Creditors: amounts falling due after more than one year

31/3/23

31/3/22

£

£

Bank loans

22,714

32,387

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/23

31/3/22

value:

£

£

95

Ordinary shares

£1

95

95

5

Ordinary A shares

£1

5

5

100

100

9.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

31/3/23

31/3/22

£

£

J C Rayward

Balance outstanding at start of year

15,755

50,571

Amounts advanced

12,963

1,359

Amounts repaid

(8,552

)

(36,175

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,166

15,755

Loans to the director are interest-free and repayable on demand. During the year there was an advance of £8,463 on 1 February 2023. The maximum outstanding balances during the year was £21,859.