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Company Registration No. 02948299 (England and Wales)
R.A.K. Fasteners Limited Unaudited accounts for the year ended 31 July 2023
R.A.K. Fasteners Limited Unaudited accounts Contents
Page
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R.A.K. Fasteners Limited Company Information for the year ended 31 July 2023
Directors
Keith Thomas Neal Paul James Grainger
Secretary
Keith Thomas Neal
Company Number
02948299 (England and Wales)
Registered Office
R A K Fasteners Limited 15 Croxstalls Road Walsall West Midlands WS3 2XU England
Accountants
KJP Bookkeeping Services 24 Red Lion Lane Norton Canes Cannock Staffordshire WS11 9QP
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R.A.K. Fasteners Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,609 
1,947 
Current assets
Inventories
1,250 
1,250 
Debtors
147,777 
133,597 
Cash at bank and in hand
48,873 
35,963 
197,900 
170,810 
Creditors: amounts falling due within one year
(141,850)
(141,476)
Net current assets
56,050 
29,334 
Total assets less current liabilities
57,659 
31,281 
Provisions for liabilities
Deferred tax
(136)
(163)
Net assets
57,523 
31,118 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
57,423 
31,018 
Shareholders' funds
57,523 
31,118 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by
Keith Thomas Neal Director Company Registration No. 02948299
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R.A.K. Fasteners Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
R.A.K. Fasteners Limited is a private company, limited by shares, registered in England and Wales, registration number 02948299. The registered office is R A K Fasteners Limited, 15 Croxstalls Road, Walsall, West Midlands, WS3 2XU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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R.A.K. Fasteners Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
15,356 
9,869 
3,375 
28,600 
At 31 July 2023
15,356 
9,869 
3,375 
28,600 
Depreciation
At 1 August 2022
13,863 
9,415 
3,375 
26,653 
Charge for the year
224 
114 
- 
338 
At 31 July 2023
14,087 
9,529 
3,375 
26,991 
Net book value
At 31 July 2023
1,269 
340 
- 
1,609 
At 31 July 2022
1,493 
454 
- 
1,947 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
140,560 
131,351 
Amounts due from group undertakings etc.
6,999 
- 
Accrued income and prepayments
218 
2,246 
147,777 
133,597 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
59,795 
84,711 
Amounts owed to group undertakings and other participating interests
- 
3,373 
Taxes and social security
40,658 
29,942 
Loans from directors
174 
174 
Accruals
41,223 
23,276 
141,850 
141,476 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Controlling party
The controlling party is Specthread Limited by virtue of its 100% shareholding in the company. The registered office of Specthread Limited is the same as that of the company.
9
Average number of employees
During the year the average number of employees was 12 (2022: 12).
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