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REGISTERED NUMBER: 02698056 (England and Wales)








RAMSAC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

RAMSAC LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: S A Cooper
R P V May
D J May-Jones
P J Tooke





SECRETARY: S A Cooper





REGISTERED OFFICE: Compton House
The Guildway Campus
Old Portsmouth Road
Guildford
Surrey
GU3 1LR





REGISTERED NUMBER: 02698056 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

BALANCE SHEET
30 April 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - 6,846
Tangible assets 5 583,128 662,138
583,128 668,984

CURRENT ASSETS
Stocks 3,799 -
Debtors 6 838,022 830,765
Cash at bank 1,102,213 626,364
1,944,034 1,457,129
CREDITORS
Amounts falling due within one year 7 (1,257,219 ) (1,144,473 )
NET CURRENT ASSETS 686,815 312,656
TOTAL ASSETS LESS CURRENT LIABILITIES 1,269,943 981,640

CREDITORS
Amounts falling due after more than one year 8 (155,008 ) (24,475 )

PROVISIONS FOR LIABILITIES 10 (63,094 ) (50,000 )
NET ASSETS 1,051,841 907,165

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,051,741 907,065
SHAREHOLDERS' FUNDS 1,051,841 907,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

BALANCE SHEET - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




R P V May - Director



S A Cooper - Director


RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

ramsac Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Intangible assets are amortised evenly over its estimated useful life of 5 years.

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leasehold property10% on cost
Fixtures and fittings20% on cost
Computer equipment33.33% on cost

On disposal the difference between net proceeds and the carrying amount of the item sold is recognised in the income statement and is included in administrative expenses.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method. The company does not have any financial non-basic instruments.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised in the financial statements for all expected cash outflows arising in respect of lease dilapidations.

Provisions for lease dilapidations are provided for when the company has a contractual obligation under the agreed lease term to return the premises to its original order. The provision is based on previous experience and is apportioned on the square footage of the premises and the current state of repair. The expected costs are charged to the profit and loss account as the directors' expect the costs to arise.

Operating lease commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account over the lease term. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

Rentals receivable under operating leases are recognised on the income statement on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 108 (2023 - 97 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 May 2023
and 30 April 2024 216,606
AMORTISATION
At 1 May 2023 209,760
Charge for year 6,846
At 30 April 2024 216,606
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 6,846

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
COST
At 1 May 2023 495,860 127,334 145,225 768,419
Additions - - 38,439 38,439
Disposals - - (25,750 ) (25,750 )
At 30 April 2024 495,860 127,334 157,914 781,108
DEPRECIATION
At 1 May 2023 4,290 13,447 88,544 106,281
Charge for year 49,586 23,599 43,725 116,910
Eliminated on disposal - - (25,211 ) (25,211 )
At 30 April 2024 53,876 37,046 107,058 197,980
NET BOOK VALUE
At 30 April 2024 441,984 90,288 50,856 583,128
At 30 April 2023 491,570 113,887 56,681 662,138

6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 380,535 366,544
Other debtors 350,687 357,421
731,222 723,965

Amounts falling due after more than one year:
Other debtors 106,800 106,800

Aggregate amounts 838,022 830,765

Last year, included within other debtors falling due within one year was a deferred tax asset of £67,925 which arose due to an asset arising on taxable trading losses exceeding timing differences and related liabilities. The deferred tax asset was fully utilised this year and is a liability at the year end. See provisions for liabilities note for further information.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 619,924 654,896
Taxation and social security 451,215 271,764
Other creditors 186,080 217,813
1,257,219 1,144,473

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Other creditors 155,008 24,475

Other creditors of £155,008 (2023: £24,475) relates to the rent free period which will be released as a lease expense after more than one year.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 247,417 200,014
Between one and five years 652,962 722,601
900,379 922,615

The company has entered into a salary sacrifice scheme for electric cars. The minimum lease payments under this scheme have been included within the note above. The minimum lease receipts due from employees under this scheme fall due as follows:



Non-cancellable operating
leases
2024 2023
£ £

Within one year 71,688 -
Between one and five years 140,781 -
212,469 -

RAMSAC LIMITED (REGISTERED NUMBER: 02698056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


10. PROVISIONS FOR LIABILITIES



Deferred tax

Lease
dilapidations


Total
£££
Balance at 1 May 2023(67,925 )50,000 (17,925)
Increase in provisions during the period- 12,500 12,500
Amounts charged against the provision during the
period

93,094


-


93,094
Decrease in provisions during the period (24,575)- (24,575)
Balance at 30 April 202459462,500 63,094

The deferred tax asset of £67,925 was included within other debtors last year. This was made up of short term timing differences and capital allowances of £114,507 offset by £182,432 of taxable losses. In 2024, the deferred tax liability of £594 is made up of short term timing differences and capital allowances of £89,932 offset by £89,338 of taxable losses.

Lease dilapidations relates to the provision for future costs expected to be incurred when the lease term comes to an end under the contractual obligation to return the premises to its original order. The provision is expected to be utilised by 2033 when the lease is due to terminate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000,000 Ordinary 0.0001 100 100

12. POST BALANCE SHEET EVENTS

The company has entered into a salary sacrifice scheme for electric cars. The operating lease payments and respective receipts from employees under this scheme since the balance sheet date fall due as follows:



Non-cancellable
operating leases
£
Within one year13,674
Between one and five years41,024
54,698


13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R P V May.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RAMSAC LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ramsac Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that ramsac Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ramsac Limited. You consider that ramsac Limited 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 financial statements of ramsac Limited. 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.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtains access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


31 July 2024