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REGISTERED NUMBER: 07182687 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RACK-N-STAK LIMITED

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RACK-N-STAK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D Tyrer
D Walters
Mrs A Tyrer Beardsworth





REGISTERED OFFICE: 9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND





REGISTERED NUMBER: 07182687 (England and Wales)





ACCOUNTANTS: Turner Accountants
Chartered Accountants
9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258,799 275,120

CURRENT ASSETS
Stocks 104,354 81,452
Debtors 5 280,765 255,484
Cash at bank 101,372 81,263
486,491 418,199
CREDITORS
Amounts falling due within one year 6 379,538 393,017
NET CURRENT ASSETS 106,953 25,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,752

300,302

CREDITORS
Amounts falling due after more than one
year

7

(38,889

)

(39,552

)

PROVISIONS FOR LIABILITIES (48,091 ) (50,955 )
NET ASSETS 278,772 209,795

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 278,672 209,695
SHAREHOLDERS' FUNDS 278,772 209,795

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

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

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





D Tyrer - Director


RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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


1. STATUTORY INFORMATION

Rack-N-Stak 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.

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.

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 - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 8,963 285,708 19,056
Additions - 88,690 -
Disposals - (77,669 ) -
At 31 March 2023 8,963 296,729 19,056
DEPRECIATION
At 1 April 2022 8,963 118,380 18,280
Charge for year - 40,560 389
Eliminated on disposal - (19,075 ) -
At 31 March 2023 8,963 139,865 18,669
NET BOOK VALUE
At 31 March 2023 - 156,864 387
At 31 March 2022 - 167,328 776

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 239,918 23,364 577,009
Additions 45,689 1,466 135,845
Disposals (27,996 ) (440 ) (106,105 )
At 31 March 2023 257,611 24,390 606,749
DEPRECIATION
At 1 April 2022 138,284 17,982 301,889
Charge for year 49,762 2,531 93,242
Eliminated on disposal (27,996 ) (110 ) (47,181 )
At 31 March 2023 160,050 20,403 347,950
NET BOOK VALUE
At 31 March 2023 97,561 3,987 258,799
At 31 March 2022 101,634 5,382 275,120

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 231,118
Additions 26,668
Disposals (27,996 )
Transfer to ownership (118,978 )
At 31 March 2023 110,812
DEPRECIATION
At 1 April 2022 129,484
Charge for year 22,163
Eliminated on disposal (27,996 )
Transfer to ownership (84,660 )
At 31 March 2023 38,991
NET BOOK VALUE
At 31 March 2023 71,821
At 31 March 2022 101,634

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 276,226 251,439
Other debtors 4,539 4,045
280,765 255,484

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,386 32,946
Trade creditors 225,633 235,018
Taxation and social security 67,010 87,463
Other creditors 72,509 37,590
379,538 393,017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 38,889 39,552

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 53,275 72,498

The National Westminster Bank plc. has a debenture with the company that places a fixed charge over the company's current and future fixed assets and a floating charge over its' current assets.

9. OTHER FINANCIAL COMMITMENTS

The company's financial commitment in regard to property totalled £53,275 (2022 - £72,499) as at the year end.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Tyrer.