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REGISTERED NUMBER: 02491315 (England and Wales)
















Ravenworth Limited

Unaudited Financial Statements

for the Year Ended 31st July 2023






Ravenworth Limited (Registered number: 02491315)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ravenworth Limited

Company Information
for the Year Ended 31st July 2023







Directors: Mr D M Webb
Mr O T Webb





Registered office: 5a-5c Barking Business Centre
25 Thames Road
Barking
Essex
IG11 0JP





Registered number: 02491315 (England and Wales)





Accountants: Playfair Partnerships Limited
4 Post Office Walk
Hertford
Hertfordshire
SG14 1DL

Ravenworth Limited (Registered number: 02491315)

Statement of Financial Position
31st July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 78,444 125,633

Current assets
Debtors 5 2,119,538 2,503,771
Cash at bank 334,561 63,914
2,454,099 2,567,685
Creditors
Amounts falling due within one year 6 842,301 1,394,061
Net current assets 1,611,798 1,173,624
Total assets less current liabilities 1,690,242 1,299,257

Creditors
Amounts falling due after more than one
year

7

-

(65,699

)

Provisions for liabilities (19,232 ) (23,565 )
Net assets 1,671,010 1,209,993

Capital and reserves
Called up share capital 22 22
Capital redemption reserve 84 84
Retained earnings 1,670,904 1,209,887
1,671,010 1,209,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ravenworth Limited (Registered number: 02491315)

Statement of Financial Position - continued
31st July 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th April 2024 and were signed on its behalf by:





Mr O T Webb - Director


Ravenworth Limited (Registered number: 02491315)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. Statutory information

Ravenworth Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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 rendering of services.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold land and buildings - Over the life of the lease
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Ravenworth Limited (Registered number: 02491315)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. All other leases are classified as operating leases.

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives.

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
At each reporting date, property, plant and equipment are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in profit or loss.

3. Employees and directors

The average number of employees during the year was 23 (2022 - 23 ) .

Ravenworth Limited (Registered number: 02491315)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

4. Tangible fixed assets
Leasehold Fixtures
land and Plant and and
buildings machinery fittings
£    £    £   
Cost
At 1st August 2022 4,746 373,227 24,362
Additions - 1,532 -
At 31st July 2023 4,746 374,759 24,362
Depreciation
At 1st August 2022 4,746 348,276 19,362
Charge for year - 10,185 2,045
At 31st July 2023 4,746 358,461 21,407
Net book value
At 31st July 2023 - 16,298 2,955
At 31st July 2022 - 24,951 5,000

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1st August 2022 263,784 20,766 686,885
Additions - 1,972 3,504
At 31st July 2023 263,784 22,738 690,389
Depreciation
At 1st August 2022 170,461 18,407 561,252
Charge for year 36,284 2,179 50,693
At 31st July 2023 206,745 20,586 611,945
Net book value
At 31st July 2023 57,039 2,152 78,444
At 31st July 2022 93,323 2,359 125,633

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 1,062,174 668,191
Other debtors 1,057,364 1,835,580
2,119,538 2,503,771

Ravenworth Limited (Registered number: 02491315)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 56,698 75,600
Hire purchase contracts (see note 8) 8,999 10,785
Trade creditors 358,315 719,087
Amounts owed to group undertakings 265,000 350,347
Taxation and social security 123,228 113,366
Other creditors 30,061 124,876
842,301 1,394,061

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 56,700
Hire purchase contracts (see note 8) - 8,999
- 65,699

8. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 8,999 10,785
Between one and five years - 8,999
8,999 19,784

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 8,999 19,784

Hire purchase debts are secured over the specific assets that were purchased using the finance.

10. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. Ultimate controlling party

Ravenworth Group Limited is the immediate parent company and Ravenworth Holdings Limited is ultimate parent company . The registered office for both companies is Unit 5a-5c Thames Road, Barking, England, IG11 0JP.