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REGISTERED NUMBER: 01464118 (England and Wales)


















RAXSTAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






RAXSTAR LIMITED (REGISTERED NUMBER: 01464118)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAXSTAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: B Roach
P C Roach





REGISTERED OFFICE: 29 Bradfield Avenue
BRIDGEND
Bridgend
CF31 4HL





REGISTERED NUMBER: 01464118 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

RAXSTAR LIMITED (REGISTERED NUMBER: 01464118)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 62,603 52,413

CURRENT ASSETS
Stocks 9,495 10,381
Debtors 5 21,788 64,378
Cash at bank 484,526 499,065
515,809 573,824
CREDITORS
Amounts falling due within one year 6 (112,280 ) (187,248 )
NET CURRENT ASSETS 403,529 386,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,132

438,989

PROVISIONS FOR LIABILITIES (15,650 ) (13,103 )
NET ASSETS 450,482 425,886

CAPITAL AND RESERVES
Called up share capital 7 40 40
Retained earnings 450,442 425,846
SHAREHOLDERS' FUNDS 450,482 425,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:



P C Roach - Director


RAXSTAR LIMITED (REGISTERED NUMBER: 01464118)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Raxstar 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover represents net amounts invoiced in respect of services provided as scrap metal merchants during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

RAXSTAR LIMITED (REGISTERED NUMBER: 01464118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2022 211,517 25,055 236,572
Additions - 51,290 51,290
Disposals - (25,055 ) (25,055 )
At 31 January 2023 211,517 51,290 262,807
DEPRECIATION
At 1 February 2022 170,379 13,780 184,159
Charge for year 24,696 8,052 32,748
Eliminated on disposal - (16,703 ) (16,703 )
At 31 January 2023 195,075 5,129 200,204
NET BOOK VALUE
At 31 January 2023 16,442 46,161 62,603
At 31 January 2022 41,138 11,275 52,413

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,406 38,452
Directors' current account - 454
Prepayments and accrued income 13,382 25,472
21,788 64,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 43,305 66,103
Corporation tax 28,110 83,087
Social security and other taxes 164 333
VAT 5,509 2,859
Other creditors 26,000 26,122
Directors' current account 6,114 6,268
Accrued expenses 3,078 2,476
112,280 187,248

RAXSTAR LIMITED (REGISTERED NUMBER: 01464118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
32 Ordinary £1 32 32
8 A Ordinary £1 8 8
40 40