Randalls Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07343063 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

for

RANDALLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr M R Duff

Mrs H M Duff

Registered office:

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

Registered number:

07343063 (England and Wales)

Accountants:

NRB

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

4,007

5,009

CURRENT ASSETS

Stocks

167,023

212,578

Debtors

5

75,233

36,436

242,256

249,014

CREDITORS

Amounts falling due within one year

6

151,348

165,395

NET CURRENT ASSETS

90,908

83,619

TOTAL ASSETS LESS CURRENT LIABILITIES

94,915

88,628

CREDITORS

Amounts falling due after more than one year

7

38,333

48,333

NET ASSETS

56,582

40,295

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

56,482

40,195

SHAREHOLDERS' FUNDS

56,582

40,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:

Mr M R Duff - Director

1.	STATUTORY INFORMATION

Randalls 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.

Turnover

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

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

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 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.

Hire purchase and leasing commitments

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 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2021

and 31 August 2022

58,313

DEPRECIATION

At 1 September 2021

53,304

Charge for year

1,002

At 31 August 2022

54,306

NET BOOK VALUE

At 31 August 2022

4,007

At 31 August 2021

5,009

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Other debtors

75,233

36,436

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

29,357

28,105

Trade creditors

35,002

50,002

Taxation and social security

57,566

40,555

Other creditors

29,423

46,733

151,348

165,395

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans

38,333

48,333

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021:

31.8.22

31.8.21

£

£

Mr M R Duff

Balance outstanding at start of year

16,332

-

Amounts advanced

56,980

16,332

Amounts repaid

(18,183

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

55,129

16,332

Interest has been charged on the overdrawn directors loan