Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falsefalse62022-06-01No description of principal activity6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07580960 2022-06-01 2023-05-31 07580960 2021-06-01 2022-05-31 07580960 2023-05-31 07580960 2022-05-31 07580960 c:Director1 2022-06-01 2023-05-31 07580960 d:PlantMachinery 2022-06-01 2023-05-31 07580960 d:PlantMachinery 2023-05-31 07580960 d:PlantMachinery 2022-05-31 07580960 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07580960 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 07580960 d:MotorVehicles 2022-06-01 2023-05-31 07580960 d:MotorVehicles 2023-05-31 07580960 d:MotorVehicles 2022-05-31 07580960 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07580960 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 07580960 d:OfficeEquipment 2022-06-01 2023-05-31 07580960 d:OfficeEquipment 2023-05-31 07580960 d:OfficeEquipment 2022-05-31 07580960 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07580960 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 07580960 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07580960 d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 07580960 d:Goodwill 2022-06-01 2023-05-31 07580960 d:Goodwill 2023-05-31 07580960 d:Goodwill 2022-05-31 07580960 d:CurrentFinancialInstruments 2023-05-31 07580960 d:CurrentFinancialInstruments 2022-05-31 07580960 d:Non-currentFinancialInstruments 2023-05-31 07580960 d:Non-currentFinancialInstruments 2022-05-31 07580960 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07580960 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 07580960 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07580960 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 07580960 d:ShareCapital 2023-05-31 07580960 d:ShareCapital 2022-05-31 07580960 d:RetainedEarningsAccumulatedLosses 2023-05-31 07580960 d:RetainedEarningsAccumulatedLosses 2022-05-31 07580960 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 07580960 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-05-31 07580960 c:OrdinaryShareClass1 2022-06-01 2023-05-31 07580960 c:OrdinaryShareClass1 2023-05-31 07580960 c:OrdinaryShareClass1 2022-05-31 07580960 c:FRS102 2022-06-01 2023-05-31 07580960 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07580960 c:FullAccounts 2022-06-01 2023-05-31 07580960 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07580960 d:WithinOneYear 2023-05-31 07580960 d:WithinOneYear 2022-05-31 07580960 d:BetweenOneFiveYears 2023-05-31 07580960 d:BetweenOneFiveYears 2022-05-31 07580960 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 07580960 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 07580960 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 07580960 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 07580960 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-31 07580960 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-05-31 07580960 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 07580960 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-31 07580960 d:LeasedAssetsHeldAsLessee 2023-05-31 07580960 d:LeasedAssetsHeldAsLessee 2022-05-31 07580960 d:Goodwill d:OwnedIntangibleAssets 2022-06-01 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07580960














RANSLEY HAY LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2023

 
RANSLEY HAY LTD
REGISTERED NUMBER:07580960

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note

Fixed assets
  

Intangible assets
 4 
40,000
45,000

Tangible assets
 5 
225,000
235,598

  
265,000
280,598

Current assets
  

Stocks
  
200,000
200,000

Debtors: amounts falling due within one year
 6 
1,202,750
1,094,285

Cash at bank and in hand
 7 
4,897
5,359

  
1,407,647
1,299,644

Creditors: amounts falling due within one year
 8 
(801,663)
(899,506)

Net current assets
  
 
 
605,984
 
 
400,138

Total assets less current liabilities
  
870,984
680,736

Creditors: amounts falling due after more than one year
 9 
(737,313)
(620,667)

Provisions for liabilities
  

Deferred tax
 11 
(15,816)
-

Net assets
  
£117,855
£60,069


Capital and reserves
  

Called up share capital 
 12 
2
2

Profit and loss account
  
117,853
60,067

  
£117,855
£60,069


Page 1

 
RANSLEY HAY LTD
REGISTERED NUMBER:07580960

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 November 2023.




___________________________
Mr PJ Ransley
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Ransley Hay Ltd is a private company, limited by shares, incorporated in England and Wales. The registered number is 07580960. The registered office of the company is Golden Wood Farm, Brisley Lane, Ruckinge, Ashford, Kent.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RANSLEY HAY LTD
 

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

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
RANSLEY HAY LTD
 

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

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
RANSLEY HAY LTD
 

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

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
RANSLEY HAY LTD
 

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

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
RANSLEY HAY LTD
 

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

2.Accounting policies (continued)

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Intangible assets




Goodwill



Cost


At 1 June 2022
100,000



At 31 May 2023

100,000



Amortisation


At 1 June 2022
55,000


Charge for the year on owned assets
5,000



At 31 May 2023

60,000



Net book value



At 31 May 2023
£40,000



At 31 May 2022
£45,000



Page 8

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total



Cost or valuation


At 1 June 2022
499,196
178,984
1,679
679,859


Additions
36,336
-
-
36,336



At 31 May 2023

535,532
178,984
1,679
716,195



Depreciation


At 1 June 2022
339,181
104,112
968
444,261


Charge for the year on owned assets
20,802
8,600
176
29,578


Charge for the year on financed assets
7,244
10,112
-
17,356



At 31 May 2023

367,227
122,824
1,144
491,195



Net book value



At 31 May 2023
£168,305
£56,160
£535
£225,000



At 31 May 2022
£160,015
£74,872
£711
£235,598

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022



Plant and machinery
41,034
30,778

Motor vehicles
17,690
40,462

£58,724
£71,240

Page 9

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Debtors

2023
2022


Trade debtors
986,644
825,124

Other debtors
24,290
154,791

Prepayments and accrued income
19,497
24,300

Tax recoverable
172,319
60,069

Deferred taxation
-
30,001

£1,202,750
£1,094,285



7.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
4,897
5,359

Less: bank overdrafts
(61,797)
-

£(56,900)
£5,359


Page 10

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

8.


Creditors: Amounts falling due within one year

2023
2022

Bank overdrafts
61,797
-

Bank and other loans
133,491
435,884

Trade creditors
162,527
135,022

Corporation tax
7,975
7,975

Other taxation and social security
10,958
8,557

Obligations under finance lease and hire purchase contracts
28,774
26,408

Other creditors
368,546
260,340

Accruals and deferred income
27,595
25,320

£801,663
£899,506


The following liabilities were secured:

2023
2022



Bank overdrafts, bank and other loans
195,288
59,884

Net obligations under finance leases and hire purchase contracts
28,774
26,408

Other creditors
354,258
258,465

578,320
344,757

Details of security provided:

Bank overdrafts, bank loans, other loans and other creditors are secured by way of a fixed and floating charge over all property and undertakings of the company. Hire purchase liabilities are secured on the assets to which they relate.

Page 11

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022

Bank and other loans
716,959
587,594

Net obligations under finance leases and hire purchase contracts
20,354
33,073

£737,313
£620,667


The following liabilities were secured:

2023
2022



Bank and other loans
716,959
493,594

Net obligations under finance leases and hire purchase contracts
20,354
33,073

737,313
526,667

Details of security provided:

Bank and other loans are secured by way of a fixed and floating charge over all property and undertakings of the company. Hire purchase liabilities are secured on the assets to which they relate.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022


Repayable by instalments
612,092
354,008




10.


Financial instruments

2023
2022

Financial assets


Financial assets measured at fair value through profit or loss
£4,897
£5,359




Financial assets measured at fair value through profit or loss comprise bank and cash balances.


11.


Deferred taxation

Page 12

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
 
11.Deferred taxation (continued)




2023





At beginning of year
30,001


Charged to profit or loss
(45,817)



At end of year
£(15,816)

The deferred taxation balance is made up as follows:

2023
2022


Accelerated capital allowances
49,243
51,445

Tax losses carried forward
(33,427)
(81,446)

£(15,816)
£30,001


12.


Share capital

2023
2022
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
£2
£2



13.


Prior year adjustment

The prior year adjustment has arisen due to the mis-statement of loans, loan interest and the tax impact of the adjustments. The effect of the adjustments are as follows:
 

Profit as previously reported for the year ended 31 May 2022
61,367

Corrections to loan interest
(166,217)

Adjustments to taxation
59,727

Restated profit / (loss) for the year ended 31 May 2022
(45,123)




Profit and loss reserve at 1 June 2022 as previously stated
234,703

Restatement to loan interest and inpact to tax of the adustment at 01 June 2021
(68,146)

Restatement to the profit and loss accounts for the year ended 31 May 2022 as stated above
(106,490)

Restated profit and loss reserve at 1 June 2022
60,067 





14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,118 (2022 - £3,002).  Contributions totalling £283 (2022 - £361) were payable to the fund at the balance sheet date and are included in creditors.

Page 13

 
RANSLEY HAY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

15.


Commitments under operating leases

At 31 May 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022


Not later than 1 year
5,720
-

Later than 1 year and not later than 5 years
11,440
-

£17,160
£-

Page 14