Company registration number 07129462 (England and Wales)
RALLY COLLECTION UK LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
RALLY COLLECTION UK LTD
COMPANY INFORMATION
Director
Mr G Thomas
Secretary
Mr G Thomas
Company number
07129462
Registered office
Hillview Cottage
36 Main Road- Hutton
Nr Weston Super mare
North Somerset
United Kingdom
BS24 9SP
Accountants
Koshal Associates (Chartered Accountants)
Gautam House
1 - 3 Shenley Avenue
Ruislip Manor
Middlesex
United Kingdom
HA4 6BP
RALLY COLLECTION UK LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
RALLY COLLECTION UK LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 May 2023.

Principal activities

The principal activity of the company continued to be that of

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr G Thomas
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr G Thomas
Director
14 November 2023
RALLY COLLECTION UK LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RALLY COLLECTION UK LTD FOR THE YEAR ENDED 31 MAY 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rally Collection UK Ltd for the year ended 31 May 2023 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

It is your duty to ensure that Rally Collection UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rally Collection UK Ltd. You consider that Rally Collection UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rally Collection UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Koshal Associates (Chartered Accountants)
14 November 2023
Chartered Accountants
Gautam House
1 - 3 Shenley Avenue
Ruislip Manor
Middlesex
United Kingdom
HA4 6BP
RALLY COLLECTION UK LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
2023
2022
£
£
Turnover
12,572
12,067
Cost of sales
(123)
(27,834)
Gross profit/(loss)
12,449
(15,767)
Administrative expenses
(8,675)
(7,914)
Profit/(loss) before taxation
3,774
(23,681)
Tax on profit/(loss)
-
0
-
0
Profit/(loss) for the financial year
3,774
(23,681)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

RALLY COLLECTION UK LTD
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 4 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
98,498
94,063
Cash at bank and in hand
3,306
3,173
101,804
97,236
Creditors: amounts falling due within one year
3
(16,284)
(15,490)
Net current assets
85,520
81,746
Creditors: amounts falling due after more than one year
4
(45,455)
(45,455)
Net assets
40,065
36,291
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
40,064
36,290
Total equity
40,065
36,291

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 14 November 2023
Mr G Thomas
Director
Company registration number 07129462 (England and Wales)
RALLY COLLECTION UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
1
Accounting policies
Company information

Rally Collection UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Hillview Cottage, 36 Main Road- Hutton, Nr Weston Super mare, North Somerset, United Kingdom, BS24 9SP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

 

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
502
(272)
Other creditors
15,782
15,762
16,284
15,490
RALLY COLLECTION UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
4
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
45,455
45,455
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