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Registration number: 11783763

Ramac Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Ramac Limited

(Registration number: 11783763)

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

13,931

10,198

Current assets

 

Debtors

4

19,153

223,517

Cash at bank and in hand

 

429,729

118,379

 

448,882

341,896

Creditors: Amounts falling due within one year

5

(59,970)

(12,770)

Net current assets

 

388,912

329,126

Net assets

 

402,843

339,324

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

402,743

339,224

Shareholders' funds

 

402,843

339,324

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 1 July 2024
 

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

Mr Alexander Rothman
Director

 

Ramac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

Accounting policies

Statutory information

Ramac Limited is a private company, limited by shares, domiciled in England and Wales, company number 11783763. The registered office is at 10 Whirlow Park Road, Sheffield, S11 9NP.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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 over their estimated useful lives, as follows:

 

Ramac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

1

Accounting policies (continued)

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Ramac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

3

Tangible assets

Office equipment
£

Cost

At 1 February 2023

22,091

Additions

11,581

At 31 January 2024

33,672

Depreciation

At 1 February 2023

11,893

Charge for the year

7,848

At 31 January 2024

19,741

Carrying amount

At 31 January 2024

13,931

At 31 January 2023

10,198

4

Debtors

2024
£

2023
£

Trade debtors

18,130

17,985

Amounts due from related undertakings

-

189,000

Other debtors

1,023

16,532

19,153

223,517

 

Ramac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Creditors

2024
£

2023
£

Due within one year

Amounts owed to related undertakings

40,000

-

Taxation and social security

17,540

10,730

Accruals and deferred income

2,430

2,040

59,970

12,770

6

Related party transactions

Other debtors includes an amount of £23 (2023 - £13,532) in relation to A Rothman's director's loan account, this loan is interest free.