Ravens of Ingatestone Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04109890

Unaudited Financial Statements

For The Period 1st February 2016 to 31st March 2017

for

Ravens of Ingatestone Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G Hyland

Mrs J Evans

Mr J Evans

REGISTERED OFFICE:

Alpha 6

Masterlord Office Village

Ransomes Europark, West Road

Ipswich

Suffolk

IP3 9SX

REGISTERED NUMBER:

04109890

ACCOUNTANTS:

Aston Shaw Accountants

Alpha 6, Masterlord Office

West Road

Ransomes Europark

Ipswich

Suffolk

IP3 9SX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

66,031

58,153

66,031

58,153

CURRENT ASSETS

Stocks

6

14,039

13,371

Debtors

7

177,795

35,608

Cash at bank

27,389

63,376

219,223

112,355

CREDITORS

Amounts falling due within one year

8

101,726

59,794

NET CURRENT ASSETS

117,497

52,561

TOTAL ASSETS LESS CURRENT LIABILITIES

183,528

110,714

CREDITORS

Amounts falling due after more than one year

9

(4,876

)

-

PROVISIONS FOR LIABILITIES

(3,392

)

(10,581

)

NET ASSETS

175,260

100,133

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

175,257

100,130

SHAREHOLDERS' FUNDS

175,260

100,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21st December 2017 and were signed on its behalf by:

Mrs G Hyland - Director

1.	STATUTORY INFORMATION

Ravens of Ingatestone Limited is a private company, limited by shares , registered in Not

specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% 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 period comprises current and deferred tax. Tax is recognised in the Income

Statement, 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease

term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Going concern

These financial statements have been prepared on the going concern basis. The Directors consider

this basis to be appropriate but have not assessed a period in excess of 12 months from the date

of approving the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 38 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st February 2016

and 31st March 2017

6,500

AMORTISATION

At 1st February 2016

and 31st March 2017

6,500

NET BOOK VALUE

At 31st March 2017

-

At 31st January 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1st February 2016

10,169

27,698

123,013

Additions

-

-

250

At 31st March 2017

10,169

27,698

123,263

DEPRECIATION

At 1st February 2016

10,169

-

108,626

Charge for period

-

-

3,659

Eliminated on disposal

-

-

-

At 31st March 2017

10,169

-

112,285

NET BOOK VALUE

At 31st March 2017

-

27,698

10,978

At 31st January 2016

-

27,698

14,387

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st February 2016

28,354

15,100

730

205,064

Additions

13,159

11,500

-

24,909

Disposals

-

(15,100

)

-

(15,100

)

At 31st March 2017

41,513

11,500

730

214,873

DEPRECIATION

At 1st February 2016

17,307

10,152

657

146,911

Charge for period

6,051

2,300

73

12,083

Eliminated on disposal

-

(10,152

)

-

(10,152

)

At 31st March 2017

23,358

2,300

730

148,842

NET BOOK VALUE

At 31st March 2017

18,155

9,200

-

66,031

At 31st January 2016

11,047

4,948

73

58,153

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st February 2016

15,100

Additions

11,500

Disposals

(15,100

)

At 31st March 2017

11,500

DEPRECIATION

At 1st February 2016

3,020

Charge for period

2,300

At 31st March 2017

5,320

NET BOOK VALUE

At 31st March 2017

6,180

At 31st January 2016

12,080

6.

STOCKS

31/3/17

31/1/16

£

£

Stocks

14,039

13,371

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/1/16

£

£

Trade debtors

17,918

23,379

Directors' loan accounts

151,007

2,569

VAT

8,870

9,660

177,795

35,608

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/1/16

£

£

Bank loans and overdrafts

-

2,859

Hire purchase contracts

2,524

(1

)

Trade creditors

42,233

28,711

Tax

17,488

18,351

Social security and other taxes

3,361

1,480

Credit Card

9,287

4,820

Directors' loan accounts

23,081

-

Accrued expenses

3,752

3,574

101,726

59,794

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/17

31/1/16

£

£

Hire purchase contracts

4,876

-

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party in this year and preceding year was the director, Mrs G Hyland, by

way of her shareholding.