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REGISTERED NUMBER: 10252291 (England and Wales)









RAND ASSETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAND ASSETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Ms L Kodurand
Miss J Kodurand
C H Kodurand





REGISTERED OFFICE: 118-120 Cathedral Road
Cardiff
CF11 9LQ





REGISTERED NUMBER: 10252291 (England and Wales)






RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 50,000
Tangible assets 5 1,403,218 1,421,631
Investments 6 145,738 143,765
1,588,956 1,615,396

CURRENT ASSETS
Stocks 500 500
Debtors 7 691 10,081
Cash at bank and in hand 328,312 338,914
329,503 349,495
CREDITORS
Amounts falling due within one year 8 2,101,927 2,116,939
NET CURRENT LIABILITIES (1,772,424 ) (1,767,444 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(183,468

)

(152,048

)

CREDITORS
Amounts falling due after more than one
year

9

21,140

32,683
NET LIABILITIES (204,608 ) (184,731 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (204,708 ) (184,831 )
SHAREHOLDERS' FUNDS (204,608 ) (184,731 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





C H Kodurand - Director


RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Rand Assets 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate id revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Useful economic lives of tangible assets - The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the tangible fixed assets and accounting policies in note 1 for the useful economic lives of each class of asset.

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Accomodation income:
Turnover is recognised at the fair value of accomodation recieved or receivable in the normal course of business. Accomodation income is recognised in the period which it relates to.

Food and drink:
Turnover is recognised when all benefits of ownership are transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Freehold Property1% Straight line
Computer Equipment33% Reducing Balance
Plant & Machinery15% Reducing Balance
Fixtures & Fittings15% Reducing Balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and estimated selling price less cost to sell after making due allowance for obsolete and slow moving items.

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

Fixed asset investments
Fixed asset investments are shown at market value and cost where applicable.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 100,000
AMORTISATION
At 1 July 2022 50,000
Charge for year 10,000
At 30 June 2023 60,000
NET BOOK VALUE
At 30 June 2023 40,000
At 30 June 2022 50,000

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,350,230 4,218 248,535 266 1,603,249
Additions - - 11,373 - 11,373
At 30 June 2023 1,350,230 4,218 259,908 266 1,614,622
DEPRECIATION
At 1 July 2022 52,511 2,348 126,529 230 181,618
Charge for year 10,502 280 18,992 12 29,786
At 30 June 2023 63,013 2,628 145,521 242 211,404
NET BOOK VALUE
At 30 June 2023 1,287,217 1,590 114,387 24 1,403,218
At 30 June 2022 1,297,719 1,870 122,006 36 1,421,631

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022 143,765
Additions 12,638
Disposals (16,046 )
Reversal of impairments 5,381
At 30 June 2023 145,738
NET BOOK VALUE
At 30 June 2023 145,738
At 30 June 2022 143,765

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 419 419
Other debtors 272 9,662
691 10,081

RAND ASSETS LIMITED (REGISTERED NUMBER: 10252291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,244 15,756
Taxation and social security 29,253 37,046
Other creditors 2,066,430 2,064,137
2,101,927 2,116,939

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 21,140 32,683

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 July 2022 (184,831 )
Deficit for the year (19,877 )
At 30 June 2023 (204,708 )

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 June 2023 the company owed the directors £2,050,332 (2022: £2,050,356) which is included within the creditors amounts falling due within one year.

The balance is interest free and repayable on demand.