Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-3052020-12-01falseNo description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12158393 2020-12-01 2021-11-30 12158393 2019-08-15 2020-11-30 12158393 2021-11-30 12158393 2020-11-30 12158393 c:Director1 2020-12-01 2021-11-30 12158393 d:FurnitureFittings 2020-12-01 2021-11-30 12158393 d:OtherPropertyPlantEquipment 2020-12-01 2021-11-30 12158393 d:OtherPropertyPlantEquipment 2021-11-30 12158393 d:OtherPropertyPlantEquipment 2020-11-30 12158393 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 12158393 d:FreeholdInvestmentProperty 2021-11-30 12158393 d:FreeholdInvestmentProperty 2020-11-30 12158393 d:CurrentFinancialInstruments 2021-11-30 12158393 d:CurrentFinancialInstruments 2020-11-30 12158393 d:Non-currentFinancialInstruments 2021-11-30 12158393 d:Non-currentFinancialInstruments 2020-11-30 12158393 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 12158393 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 12158393 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 12158393 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 12158393 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-11-30 12158393 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 12158393 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-11-30 12158393 d:ShareCapital 2021-11-30 12158393 d:ShareCapital 2020-11-30 12158393 d:RetainedEarningsAccumulatedLosses 2021-11-30 12158393 d:RetainedEarningsAccumulatedLosses 2020-11-30 12158393 c:OrdinaryShareClass1 2020-12-01 2021-11-30 12158393 c:OrdinaryShareClass1 2021-11-30 12158393 c:OrdinaryShareClass1 2020-11-30 12158393 c:OrdinaryShareClass2 2020-12-01 2021-11-30 12158393 c:OrdinaryShareClass2 2021-11-30 12158393 c:OrdinaryShareClass2 2020-11-30 12158393 c:OrdinaryShareClass3 2020-12-01 2021-11-30 12158393 c:OrdinaryShareClass3 2021-11-30 12158393 c:OrdinaryShareClass3 2020-11-30 12158393 c:FRS102 2020-12-01 2021-11-30 12158393 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 12158393 c:FullAccounts 2020-12-01 2021-11-30 12158393 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 12158393 2 2020-12-01 2021-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 12158393









RAKCKB LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
RAKCKB LIMITED
REGISTERED NUMBER: 12158393

BALANCE SHEET
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,320
2,909

Investment property
 5 
299,453
299,453

  
302,773
302,362

Current assets
  

Stocks
  
3,912
1,591

Debtors: amounts falling due within one year
 6 
5,351
2,139

Cash at bank
  
10,538
46,653

  
19,801
50,383

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(185,867)
(172,916)

Net current liabilities
  
 
 
(166,066)
 
 
(122,533)

Creditors: amounts falling due after more than one year
 8 
(158,777)
(197,441)

  

Net liabilities
  
(22,070)
(17,612)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(22,170)
(17,712)

  
(22,070)
(17,612)


Page 1

 
RAKCKB LIMITED
REGISTERED NUMBER: 12158393

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 August 2022.






Mr R M Barnes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

RAKCKB Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 6 High Street, Ely, Cambs, United Kingdom, CB7 4JU. The Company is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has been affected by restrictions imposed by the UK Government in response to the COVID-19 pandemic. The result of this is that the Company’s premises have closed and the Company has temporarily had to suspend its operations, in addition to this the Company was forced to dispose of stock that went out of date. This has resulted in a significant loss of income for the Company. The loss of income and cashflow has been partially offset by the furloughing of the workforce under the government’s furlough scheme. In addition the Company has additional finance available to it in the form of loans under the government scheme. 
 
The director considers that the resources available to the Company will be sufficient for it to be able to continue as a going concern during the restrictions and once the restrictions are lifted. However, there is a high level of uncertainty about how long the restrictions will last and the level of demand once the restrictions have ended which could affect this assessment. The financial statements do not contain any adjustments that would be required if the Company were not able to continue as a going concern.
The Company is only able to trade with the continuing support of the director, who has indicated that this support will not be withdrawn. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support.

Page 3

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Page 6

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2020 - 5).


4.


Tangible fixed assets





Other fixed assets

£



Cost


At 1 December 2020
3,355


Additions
1,333



At 30 November 2021

4,688



Depreciation


At 1 December 2020
446


Charge for the year on owned assets
922



At 30 November 2021

1,368



Net book value



At 30 November 2021
3,320


5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2020
299,453



At 30 November 2021
299,453

The 2021 valuations were made by the directors of the Company, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
£


Historic cost
299,453

Page 7

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

6.


Debtors

2021
2020
£
£


Trade debtors
598
606

Other debtors
3,327
230

Prepayments
1,426
1,303

5,351
2,139



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
19,171
14,678

Other taxation and social security
3,617
1,691

Other creditors
160,574
154,698

Accruals
2,505
1,849

185,867
172,916



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
158,777
197,441


Page 8

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

9.


Loans


Analysis of the maturity of loans is given below:


As at 30 November 2020
£

Amounts falling due within one year

Bank loans
19,171

Amounts falling due 1-2 years

Bank loans
19,171

Amounts falling due 2-5 years

Bank loans
51,684

Amounts falling due after more than 5 years

Bank loans
87,921

177,947



10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



85 (2020 - 85) Ordinary A shares of £1.00 each
85
85
10 (2020 - 10) Ordinary B shares of £1.00 each
10
10
5 (2020 - 5) Ordinary C shares of £1.00 each
5
5

100

100


Page 9

 
RAKCKB LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to fund and amounted to £355 Contributions totalling £91 were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

During the year the Company operated loans with the shareholders of the Company. The amount payable to the shareholders of the Company at the year end was £15,610 (2020 - £15,212) These loans are interest free and repayable on demand.
During the year the Company operated loans with the director of the Company. The amount payable to the director of the Company at the year end was £144,754 (2020 - £139,287)  These loans are interest free and repayable on demand.


Page 10