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REGISTERED NUMBER: 10214511 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Raynestorm Ltd

Raynestorm Ltd (Registered number: 10214511)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Raynestorm Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A V Kimitri
R D Freeman





REGISTERED OFFICE: C/o 16-18 South Parade
Weston-Super-Mare
North Somerset
BS23 1JN





REGISTERED NUMBER: 10214511 (England and Wales)





ACCOUNTANTS: DGL Accountancy Services Limited
Chartered Certified Accountants
35 Hen Parc Avenue
Upper Killay
Swansea
SA2 7HA

Raynestorm Ltd (Registered number: 10214511)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1
Tangible assets 5 17,216 9,560
17,216 9,561

CURRENT ASSETS
Stocks 263,961 271,996
Debtors 6 723,786 686,989
Cash at bank and in hand 79,634 27,943
1,067,381 986,928
CREDITORS
Amounts falling due within one year 7 248,173 359,751
NET CURRENT ASSETS 819,208 627,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,424

636,738

CREDITORS
Amounts falling due after more than
one year

8

500,685

503,431
NET ASSETS 335,739 133,307

CAPITAL AND RESERVES
Called up share capital 15,420 15,420
Share premium 10 430,180 430,180
Retained earnings 10 (109,861 ) (312,293 )
335,739 133,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Raynestorm Ltd (Registered number: 10214511)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





A V Kimitri - Director


Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Raynestorm Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five 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.
Leasehold improvements - not provided
Plant and machinery - 25% on reducing balance
Computer equipment - 25% 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 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.


Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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
The financial statements have been prepared on the going concern basis, the validity of which depends on the continued support of the company's directors, investors and other creditors. In the initial periods of trading substantial costs were incurred in developing new products. The business has seen an increase in sales in subsequent periods of trading.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 4,000
AMORTISATION
At 1 July 2022 3,999
Charge for year 1
At 30 June 2023 4,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 1

Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Leasehold Plant and Computer
improvements machinery equipment Totals
£    £    £    £   
COST
At 1 July 2022 4,627 1,457 6,713 12,797
Additions - - 8,888 8,888
At 30 June 2023 4,627 1,457 15,601 21,685
DEPRECIATION
At 1 July 2022 - 919 2,318 3,237
Charge for year - 134 1,098 1,232
At 30 June 2023 - 1,053 3,416 4,469
NET BOOK VALUE
At 30 June 2023 4,627 404 12,185 17,216
At 30 June 2022 4,627 538 4,395 9,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 358,481 278,099
Other debtors 365,305 408,890
723,786 686,989

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 4,248 7,107
Trade creditors 92,588 136,293
Taxation and social security 145,438 89,543
Other creditors 5,899 126,808
248,173 359,751

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 25,685 28,431
Other creditors 475,000 475,000
500,685 503,431

Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Other creditors - 121,361

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2022 (312,293 ) 430,180 117,887
Profit for the year 202,432 202,432
At 30 June 2023 (109,861 ) 430,180 320,319

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A V Kimitri.

12. OTHER DEBTORS

Other debtors includes the sum of £334,615 in respect of an ongoing legal dispute with a supplier. The directors are confident that this balance will be fully recovered.