REGISTERED NUMBER: |
Ravenworth Limited |
Unaudited Financial Statements |
for the Year Ended 31st July 2023 |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Capital redemption reserve |
Retained earnings |
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 |
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 |
Ravenworth Limited (Registered number: 02491315) |
Notes to the Financial Statements |
for the Year Ended 31st July 2023 |
1. | Statutory information |
Ravenworth Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Leasehold land and buildings | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
Additions |
At 31st July 2023 |
Depreciation |
At 1st August 2022 |
Charge for year |
At 31st July 2023 |
Net book value |
At 31st July 2023 |
At 31st July 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1st August 2022 |
Additions |
At 31st July 2023 |
Depreciation |
At 1st August 2022 |
Charge for year |
At 31st July 2023 |
Net book value |
At 31st July 2023 |
At 31st July 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
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 |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
8. | Leasing agreements |
Minimum lease payments under hire purchase fall due as follows: |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
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. |