Company Registration No. 12394678 (England and Wales)
Raycast Technologies Ltd.
Unaudited accounts
for the year ended 31 January 2022
Raycast Technologies Ltd.
Unaudited accounts
Contents
Raycast Technologies Ltd.
Company Information
for the year ended 31 January 2022
Directors
Thomas Paul Mann
Petr Nikolaev
Secretary
Oakwood Corporate Secretary Limited
Company Number
12394678 (England and Wales)
Registered Office
3rd Floor
1 Ashley Road
Altrincham
Cheshire
WA14 2DT
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Raycast Technologies Ltd.
Statement of financial position
as at 31 January 2022
Tangible assets
56,646
22,000
Cash at bank and in hand
203,762
71,624
Creditors: amounts falling due within one year
(2,206,758)
(589,719)
Net current liabilities
(1,973,529)
(518,095)
Net liabilities
(1,916,883)
(496,095)
Profit and loss account
(1,916,883)
(496,095)
Shareholders' funds
(1,916,883)
(496,095)
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by
Thomas Paul Mann
Director
Company Registration No. 12394678
Raycast Technologies Ltd.
Notes to the Accounts
for the year ended 31 January 2022
Raycast Technologies Ltd. is a private company, limited by shares, registered in England and Wales, registration number 12394678. The registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
4 years straight line
Computer equipment
3 years straight line
Research and development tax credit
During the financial year, Raycast Technologies Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2021
2,968
24,502
27,470
Additions
2,794
44,715
47,509
At 31 January 2022
5,762
69,217
74,979
At 1 February 2021
570
4,900
5,470
Charge for the year
948
11,915
12,863
At 31 January 2022
1,518
16,815
18,333
At 31 January 2022
4,244
52,402
56,646
At 31 January 2021
2,398
19,602
22,000
Raycast Technologies Ltd.
Notes to the Accounts
for the year ended 31 January 2022
5
Debtors: amounts falling due within one year
2022
2021
Accrued income and prepayments
29,467
-
6
Creditors: amounts falling due within one year
2022
2021
Amounts owed to group undertakings and other participating interests
2,201,259
588,505
Raycast Technologies Limited is 100% owned by Raycast Technologies Inc. At the year end, Raycast Technologies Limited owed its parent £2,201,259. The amount owed is interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 6 (2021: 5).