RAK Investments Ltd. 03992700 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is management consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 03992700 2022-11-01 2023-10-31 03992700 2023-10-31 03992700 core:CurrentFinancialInstruments 2023-10-31 03992700 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 03992700 core:OfficeEquipment 2023-10-31 03992700 bus:SmallEntities 2022-11-01 2023-10-31 03992700 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 03992700 bus:FilletedAccounts 2022-11-01 2023-10-31 03992700 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 03992700 bus:RegisteredOffice 2022-11-01 2023-10-31 03992700 bus:CompanySecretary1 2022-11-01 2023-10-31 03992700 bus:Director1 2022-11-01 2023-10-31 03992700 bus:Director2 2022-11-01 2023-10-31 03992700 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03992700 bus:Agent1 2022-11-01 2023-10-31 03992700 core:ComputerEquipment 2022-11-01 2023-10-31 03992700 core:OfficeEquipment 2022-11-01 2023-10-31 03992700 countries:EnglandWales 2022-11-01 2023-10-31 03992700 2022-10-31 03992700 core:OfficeEquipment 2022-10-31 03992700 2021-11-01 2022-10-31 03992700 2022-10-31 03992700 core:CurrentFinancialInstruments 2022-10-31 03992700 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 03992700 core:OfficeEquipment 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 03992700

RAK Investments Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

RAK Investments Ltd.

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 7

 

RAK Investments Ltd.

Company Information

Directors

S H Gomer

Mrs H K Gomer

Company secretary

Miss N H Gomer

Registered office

49 De Vere Gardens
London
W8 5AW

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RAK Investments Ltd.
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RAK Investments Ltd. for the year ended 31 October 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of RAK Investments Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of RAK Investments Ltd. and state those matters that we have agreed to state to the Board of Directors of RAK Investments Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RAK Investments Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RAK Investments Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RAK Investments Ltd.. You consider that RAK Investments Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of RAK Investments 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 accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

31 July 2024

 

RAK Investments Ltd.

(Registration number: 03992700)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

148

197

Current assets

 

Debtors

5

16,933

20,044

Cash at bank and in hand

 

39,959

55,740

 

56,892

75,784

Creditors: Amounts falling due within one year

6

(57,449)

(46,333)

Net current (liabilities)/assets

 

(557)

29,451

Net (liabilities)/assets

 

(409)

29,648

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(509)

29,548

Shareholders' (deficit)/funds

 

(409)

29,648

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

S H Gomer
Director

   
     
 

RAK Investments Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
49 De Vere Gardens
London
W8 5AW
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

RAK Investments Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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.

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


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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on reducing balance

 

RAK Investments Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

RAK Investments Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Computer
equipment
£

Total
£

Cost or valuation

At 1 November 2022

5,017

5,017

At 31 October 2023

5,017

5,017

Depreciation

At 1 November 2022

4,820

4,820

Charge for the year

49

49

At 31 October 2023

4,869

4,869

Carrying amount

At 31 October 2023

148

148

At 31 October 2022

197

197

5

Debtors

Current

2023
£

2022
£

Other debtors

16,933

20,044

 

16,933

20,044

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

1,092

Accruals and deferred income

1,980

1,890

Other creditors

55,469

43,351

57,449

46,333