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Company Registration No. 13066547 (England and Wales)
RACO VENTURES LTD Unaudited accounts for the year ended 31 December 2023
RACO VENTURES LTD Unaudited accounts Contents
Page
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RACO VENTURES LTD Company Information for the year ended 31 December 2023
Directors
Madhavi Sabharwal Naresh Sabharwal
Company Number
13066547 (England and Wales)
Registered Office
146 BROADWAY DIDCOT OX11 8SH ENGLAND
Accountants
Edmil Accountants UK Ltd 146 Broadway Didcot Oxfordshire OX11 8SH
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RACO VENTURES LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
232,417 
237,160 
Current assets
Cash at bank and in hand
42,698 
32,155 
Creditors: amounts falling due within one year
(169,851)
(175,997)
Net current liabilities
(127,153)
(143,842)
Total assets less current liabilities
105,264 
93,318 
Creditors: amounts falling due after more than one year
(147,983)
(158,062)
Net liabilities
(42,719)
(64,744)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(43,719)
(65,744)
Shareholders' funds
(42,719)
(64,744)
For the year ending 31 December 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 27 June 2024 and were signed on its behalf by
Naresh Sabharwal Director Company Registration No. 13066547
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RACO VENTURES LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
RACO VENTURES LTD is a private company, limited by shares, registered in England and Wales, registration number 13066547. The registered office is 146 BROADWAY, DIDCOT, OX11 8SH, 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.
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:
Land & buildings
2% Reducing Balance Basis
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 January 2023
242,000 
At 31 December 2023
242,000 
Depreciation
At 1 January 2023
4,840 
Charge for the year
4,743 
At 31 December 2023
9,583 
Net book value
At 31 December 2023
232,417 
At 31 December 2022
237,160 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
18,815 
19,648 
Amounts owed to group undertakings and other participating interests
- 
1,450 
Other creditors
1,495 
- 
Loans from directors
149,541 
154,899 
169,851 
175,997 
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RACO VENTURES LTD Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
147,983 
158,062 
At year end the company owed the sum of £166,798 to the bank in the form of Mortgage. However, as part of this amount,£147,983 was in the form of capital and £ 18,815 in the form of interest.
7
Transactions with related parties
At year end, the company owed the sum of £149,541 to the Directors. (FY:2022:£154,899)
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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