IRIS Accounts Production v23.3.0.418 SC369403 director 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3694032022-02-28SC3694032023-02-28SC3694032022-03-012023-02-28SC3694032020-12-31SC3694032021-01-012022-02-28SC3694032022-02-28SC369403ns16:Scotland2022-03-012023-02-28SC369403ns15:PoundSterling2022-03-012023-02-28SC369403ns11:Director12022-03-012023-02-28SC369403ns11:PrivateLimitedCompanyLtd2022-03-012023-02-28SC369403ns11:SmallEntities2022-03-012023-02-28SC369403ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-28SC369403ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-28SC369403ns11:FullAccounts2022-03-012023-02-28SC369403ns11:RegisteredOffice2022-03-012023-02-28SC369403ns6:CurrentFinancialInstruments2023-02-28SC369403ns6:CurrentFinancialInstruments2022-02-28SC369403ns6:ShareCapital2023-02-28SC369403ns6:ShareCapital2022-02-28SC369403ns6:RetainedEarningsAccumulatedLosses2023-02-28SC369403ns6:RetainedEarningsAccumulatedLosses2022-02-28SC369403ns6:PlantMachinery2022-03-012023-02-28SC369403ns6:PlantMachinery2022-02-28SC369403ns6:PlantMachinery2023-02-28SC369403ns6:PlantMachinery2022-02-28SC369403ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-28SC369403ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28
REGISTERED NUMBER: SC369403 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

RAIRDESIGN LIMITED

RAIRDESIGN LIMITED (REGISTERED NUMBER: SC369403)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAIRDESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: A R C Smith





REGISTERED OFFICE: Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC369403 (Scotland)





ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

RAIRDESIGN LIMITED (REGISTERED NUMBER: SC369403)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 840 2,344

CURRENT ASSETS
Stocks - 150
Debtors 5 3,377 3,660
Cash at bank 835 14,540
4,212 18,350
CREDITORS
Amounts falling due within one year 6 6,949 20,062
NET CURRENT LIABILITIES (2,737 ) (1,712 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,897

)

632

PROVISIONS FOR LIABILITIES 160 445
NET (LIABILITIES)/ASSETS (2,057 ) 187

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (2,059 ) 185
SHAREHOLDERS' FUNDS (2,057 ) 187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RAIRDESIGN LIMITED (REGISTERED NUMBER: SC369403)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 20 October 2023 and were signed by:





A R C Smith - Director


RAIRDESIGN LIMITED (REGISTERED NUMBER: SC369403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Rairdesign Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The companies liabilities exceeded it's assets by £2,057 at 28 February 2023 (PY 2022: assets exceeded liabilities by £187). The company is thus dependent on the continued financial support of it's creditors. The director is confident of this continuing support and of the company's long term trading prospects and, on this basis, considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents invoiced sales of services as adjusted for the appropriate vat flat rate percentage.

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 etc - 33% on a straight line basis and 25% on a reducing balance basis

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

RAIRDESIGN LIMITED (REGISTERED NUMBER: SC369403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 17,076
Additions 282
At 28 February 2023 17,358
DEPRECIATION
At 1 March 2022 14,732
Charge for year 1,786
At 28 February 2023 16,518
NET BOOK VALUE
At 28 February 2023 840
At 28 February 2022 2,344

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,117 2,312
Other debtors 260 1,348
3,377 3,660

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 3,336 15,633
Other creditors 3,613 4,429
6,949 20,062