Registered number
13755524
RANAIN LTD
Filleted Accounts
31 May 2023
RANAIN LTD
Registered number: 13755524
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 120,944 -
Current assets
Stocks 5,200 -
Cash at bank and in hand 45,372 -
50,572 -
Creditors: amounts falling due within one year 4 (28,417) -
Net current assets 22,155 -
Total assets less current liabilities 143,099 -
Creditors: amounts falling due after more than one year 5 (168,272) -
Net liabilities (25,173) -
Capital and reserves
Called up share capital 100 -
Profit and loss account (25,273) -
Shareholders' funds (25,173) -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MOHAMED AMIN PATEL
Director
Approved by the board on 25 September 2023
RANAIN LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 135,945
At 31 May 2023 135,945
Depreciation
Charge for the year 15,001
At 31 May 2023 15,001
Net book value
At 31 May 2023 120,944
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 28,417 -
5 Creditors: amounts falling due after one year 2023 2022
£ £
Directors Loans 168,272 -
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
MOHAMED AMIN PATEL - 128,172 - 128,172
MUHAMMAD DILDAR KHAN - 28,300 - 28,300
- 156,472 - 156,472
7 Controlling party
The company is fully owned by the 2 directors.
8 Other information
RANAIN LTD is a private company limited by shares and incorporated in England. Its registered office is:
31-33 ZETLAND STREET
HUDDERSFIELD
HD1 2RA
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