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Registered number: 13526190










RAYS OF LIGHT 786 LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
RAYS OF LIGHT 786 LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RAYS OF LIGHT 786 LTD
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rays of Light 786 Ltd for the year ended 31 July 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Rays of Light 786 Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Rays of Light 786 Ltd and state those matters that we have agreed to state to her in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rays of Light 786 Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Rays of Light 786 Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Rays of Light 786 Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Rays of Light 786 Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







Shipleys Tax Planning
 

30 July 2024
Page 1

 
RAYS OF LIGHT 786 LTD
REGISTERED NUMBER: 13526190

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,477
4,546

  
3,477
4,546

Current assets
  

Stocks
 5 
7,200
7,200

Debtors: amounts falling due after more than one year
 6 
6,200
-

Debtors: amounts falling due within one year
 6 
765
589

Cash at bank and in hand
 7 
8,109
3,369

  
22,274
11,158

Creditors: amounts falling due within one year
 8 
(11,761)
(10,622)

Net current assets
  
 
 
10,513
 
 
536

Total assets less current liabilities
  
13,990
5,082

  

Net assets
  
13,990
5,082


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
13,989
5,081

  
13,990
5,082


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.



Page 2

 
RAYS OF LIGHT 786 LTD
REGISTERED NUMBER: 13526190

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023




Aqsa Tariq
Director

The notes on pages 6 to 10 form part of these financial statements.

Page 3

 
RAYS OF LIGHT 786 LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2022
1
5,081
5,082


Comprehensive income for the year

Profit for the year

-
10,908
10,908


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
10,908
10,908


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,000)
(2,000)


Total transactions with owners
-
(2,000)
(2,000)


At 31 July 2023
1
13,989
13,990


The notes on pages 6 to 10 form part of these financial statements.

Page 4

 
RAYS OF LIGHT 786 LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
5,081
5,081


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
5,081
5,081


Contributions by and distributions to owners

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 31 July 2022
1
5,081
5,082


The notes on pages 6 to 10 form part of these financial statements.

Page 5

 
RAYS OF LIGHT 786 LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Rays of Light 786 Ltd is a company domiciled in England and Wales, registration number 13526190.  The registered office is 44 Southfield Square, Bradford, BD8 7SL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
RAYS OF LIGHT 786 LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
RAYS OF LIGHT 786 LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

2023
2022
£
£

Wages and salaries
4,761
9,039

4,761
9,039


The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Administration
1
1


4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
5,016
799
5,815



At 31 July 2023

5,016
799
5,815



Depreciation


At 1 August 2022
1,003
266
1,269


Charge for the year on owned assets
803
266
1,069



At 31 July 2023

1,806
532
2,338



Net book value



At 31 July 2023
3,210
267
3,477



At 31 July 2022
4,013
533
4,546

Page 8

 
RAYS OF LIGHT 786 LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
7,200
7,200

7,200
7,200


Page 9

 
RAYS OF LIGHT 786 LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
6,200
-

6,200
-


2023
2022
£
£

Due within one year

Trade debtors
765
589

765
589



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8,109
3,369

8,109
3,369



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
2,545
-

Other creditors
7,116
9,122

Accruals and deferred income
2,100
1,500

11,761
10,622



Page 10