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Registered Number: 10809110
England and Wales

 

 

 

RAVENSGATE RAMSGATE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 30 August 2021

End date: 28 August 2022
Director G E C Gadd
Registered Number 10809110
Registered Office 56-58 King Street
Ramsgate
Kent
CT11 8NY
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 28 August 2022.
Directors
The directors who served the company throughout the period were as follows:
G E C Gadd (from 08/06/2017)
R Bell (from 08/06/2017 to 10/12/2021)
K Case (from 08/06/2017 to 20/07/2023)
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
G E C Gadd
Director

Date approved: 14 February 2024
2
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 13,924    29,781 
13,924    29,781 
Current assets      
Stocks 4 4,880    7,225 
Debtors 5 481    6,580 
Cash at bank and in hand 8,402    35,496 
13,763    49,301 
Creditors: amount falling due within one year 6 (26,420)   (35,944)
Net current liabilities (12,657)   13,357 
 
Total assets less current liabilities 1,267    43,138 
Creditors: amount falling due after more than one year 7 (16,187)   (18,983)
Net liabilities (14,920)   24,155 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (15,020)   24,055 
Shareholder's funds (14,920)   24,155 
 


For the period ended 28 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 February 2024 and were signed on its behalf by:


-------------------------------
G E C Gadd
Director
3
General Information
Ravensgate Ramsgate Limited is a private company, limited by shares, registered in England and Wales, registration number 10809110, registration address 56-58 King Street, Ramsgate, Kent, CT11 8NY.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Improvements to property 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
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.
2.

Average number of employees

Average number of employees during the period was 5 (2021 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £
At 30 August 2021 14,159    18,846    188    9,506    42,699 
Additions 604    2,264        2,868 
Disposals (8,360)   (10,408)       (18,768)
At 28 August 2022 6,403    10,702    188    9,506    26,799 
Depreciation
At 30 August 2021 3,838    5,336    77    3,667    12,918 
Charge for period   1,559    17    876    2,452 
On disposals (1,254)   (1,241)       (2,495)
At 28 August 2022 2,584    5,654    94    4,543    12,875 
Net book values
Closing balance as at 28 August 2022 3,819    5,048    94    4,963    13,924 
Opening balance as at 30 August 2021 10,321    13,510    111    5,839    29,781 


4.

Stocks

2022
£
  2021
£
Stocks 4,880    7,225 
4,880    7,225 

5.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 347    100 
Other Debtors 134    6,480 
481    6,580 

6.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 16,078    18,060 
Bank Loans & Overdrafts 4,766    4,766 
Corporation Tax   42 
PAYE & Social Security 424    1,037 
Other Creditors 4,440    12,039 
VAT 712   
26,420    35,944 

7.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 16,187    18,983 
16,187    18,983 

4