RAM_237_LIMITED - Accounts


Company registration number SC611325 (Scotland)
RAM 237 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
RAM 237 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
RAM 237 LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,977
3,542
Investment property
4
449,303
306,844
Investments
5
9,994
7,300
466,274
317,686
Current assets
Debtors
6
1,600
350
Cash at bank and in hand
105,216
69,333
106,816
69,683
Creditors: amounts falling due within one year
7
(179,972)
(380,531)
Net current liabilities
(73,156)
(310,848)
Net assets
393,118
6,838
Capital and reserves
Called up share capital
8
4
4
Profit and loss reserves
393,114
6,834
Total equity
393,118
6,838

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr D J Dolan
Director
Company Registration No. SC611325
RAM 237 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Ram 237 Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 2, Huntershill Way, Bishopbriggs, Glasgow, United Kingdom, G64 1XP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The company has net liabilities of £8,132. The directors have a reasonable expectation that the company will continue in operational existence and meet their liabilities and obligations for the foreseeable future.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

RAM 237 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
RAM 237 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 July 2022
5,650
Additions
4,980
At 30 June 2023
10,630
Depreciation and impairment
At 1 July 2022
2,108
Depreciation charged in the year
1,545
At 30 June 2023
3,653
Carrying amount
At 30 June 2023
6,977
At 30 June 2022
3,542
4
Investment property
2023
£
Fair value
At 1 July 2022
306,844
Additions
142,459
At 30 June 2023
449,303

The fair value of the investment properties have been arrived at on the basis of valuations carried out at 30 June 2023 by the directors.

5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
9,994
7,300
RAM 237 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Other
£
Cost or valuation
At 1 July 2022
7,300
Additions
2,694
At 30 June 2023
9,994
Carrying amount
At 30 June 2023
9,994
At 30 June 2022
7,300
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,600
350
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,326
-
0
Taxation and social security
-
0
1,476
Other creditors
178,646
379,055
179,972
380,531
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
B Ordinary shares of £1 each
1
1
1
1
C Ordinary shares of £1 each
1
1
1
1
4
4
4
4
RAM 237 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
9
Related party transactions
2023
2022
Amounts due to related parties
£
£
Other related parties
176,246
375,000

The loans are unsecured, interest free and have no fixed repayment terms.

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