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
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
RACO VENTURES LTD
Statement of financial position
as at 31 December 2023
Tangible assets
232,417
237,160
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)
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
RACO VENTURES LTD
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
At 31 December 2023
242,000
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
Loans from directors
149,541
154,899
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).