Rame VS Limited 11803821 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is management consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 11803821 2022-03-01 2023-02-28 11803821 2023-02-28 11803821 core:CurrentFinancialInstruments 2023-02-28 11803821 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11803821 core:FurnitureFittings 2023-02-28 11803821 core:MotorVehicles 2023-02-28 11803821 core:OfficeEquipment 2023-02-28 11803821 core:PlantMachinery 2023-02-28 11803821 bus:SmallEntities 2022-03-01 2023-02-28 11803821 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11803821 bus:FullAccounts 2022-03-01 2023-02-28 11803821 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11803821 bus:RegisteredOffice 2022-03-01 2023-02-28 11803821 bus:Director1 2022-03-01 2023-02-28 11803821 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11803821 core:ComputerEquipment 2022-03-01 2023-02-28 11803821 core:FurnitureFittings 2022-03-01 2023-02-28 11803821 core:MotorVehicles 2022-03-01 2023-02-28 11803821 core:OfficeEquipment 2022-03-01 2023-02-28 11803821 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 11803821 core:PlantMachinery 2022-03-01 2023-02-28 11803821 countries:EnglandWales 2022-03-01 2023-02-28 11803821 2022-02-28 11803821 core:FurnitureFittings 2022-02-28 11803821 core:MotorVehicles 2022-02-28 11803821 core:OfficeEquipment 2022-02-28 11803821 core:PlantMachinery 2022-02-28 11803821 2021-03-01 2022-02-28 11803821 2022-02-28 11803821 core:CurrentFinancialInstruments 2022-02-28 11803821 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11803821 core:FurnitureFittings 2022-02-28 11803821 core:MotorVehicles 2022-02-28 11803821 core:OfficeEquipment 2022-02-28 11803821 core:PlantMachinery 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 11803821

Rame VS Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Rame VS Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Rame VS Limited

(Registration number: 11803821)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

55,414

85,407

Current assets

 

Debtors

5

31,279

67,906

Cash at bank and in hand

 

69,063

100,077

 

100,342

167,983

Creditors: Amounts falling due within one year

6

(91,415)

(97,310)

Net current assets

 

8,927

70,673

Total assets less current liabilities

 

64,341

156,080

Provisions for liabilities

14,504

(15,489)

Net assets

 

78,845

140,591

Capital and reserves

 

Called up share capital

1

1

Retained earnings

78,844

140,590

Shareholders' funds

 

78,845

140,591

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 November 2023
 


R Wilding
Director

 

Rame VS Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
505 Worle Parkway
Worle
Weston-super-Mare
BS22 6WA
England

These financial statements were authorised for issue by the director on 3 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Rame VS Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Fixtures and fittings

25% straight line

Other capital asset

50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Rame VS Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Rame VS Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 March 2022

417

4,516

7,011

81,521

At 28 February 2023

417

4,516

7,011

81,521

Depreciation

At 1 March 2022

312

3,916

3,830

-

Charge for the year

104

600

2,143

27,146

At 28 February 2023

416

4,516

5,973

27,146

Carrying amount

At 28 February 2023

1

-

1,038

54,375

At 28 February 2022

105

600

3,181

81,521

Total
£

Cost or valuation

At 1 March 2022

93,465

At 28 February 2023

93,465

Depreciation

At 1 March 2022

8,058

Charge for the year

29,993

At 28 February 2023

38,051

Carrying amount

At 28 February 2023

55,414

At 28 February 2022

85,407

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

12,436

11,217

Amounts owed by related parties

18,700

55,320

Other debtors

 

143

1,369

   

31,279

67,906

 

Rame VS Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

3,936

6,325

Trade creditors

 

59,285

80,521

Taxation and social security

 

26,099

9,024

Accruals and deferred income

 

1,548

1,440

Other creditors

 

547

-

 

91,415

97,310

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

3,936

6,325