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REGISTERED NUMBER: 07637078 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

RAIGINS LTD

RAIGINS LTD (REGISTERED NUMBER: 07637078)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAIGINS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: C A P Kinslow





REGISTERED OFFICE: Unit 20 Riverside
Sir Thomas Longley Road
Medway City Estate
Rochester
Kent
ME2 4DP





REGISTERED NUMBER: 07637078 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
2 The Links
HERNE BAY
Kent
CT6 7GQ

RAIGINS LTD (REGISTERED NUMBER: 07637078)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 154,208 72,234
Tangible assets 6 89,742 59,404
Investments 7 - 100
243,950 131,738

CURRENT ASSETS
Stocks 85,994 31,611
Debtors 8 637,891 625,374
Cash at bank and in hand 447,304 38,680
1,171,189 695,665
CREDITORS
Amounts falling due within one year 9 726,172 491,447
NET CURRENT ASSETS 445,017 204,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,967

335,956

CREDITORS
Amounts falling due after more than one
year

10

(244,454

)

(15,279

)

PROVISIONS FOR LIABILITIES (22,436 ) (11,287 )
NET ASSETS 422,077 309,390

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 421,677 308,990
SHAREHOLDERS' FUNDS 422,077 309,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RAIGINS LTD (REGISTERED NUMBER: 07637078)

BALANCE SHEET - continued
31ST MAY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th August 2024 and were signed by:





C A P Kinslow - Director


RAIGINS LTD (REGISTERED NUMBER: 07637078)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Raigins Ltd 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Raigins Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on a straight line basis
Fixtures and fittings - 20% on a straight line basis
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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


RAIGINS LTD (REGISTERED NUMBER: 07637078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The Director has considered the current trading position of the company and, as a result of continued growth and finances to support this, the accounts are prepared on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 295 (2023 - 203 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023 80,260
Additions 100,000
At 31st May 2024 180,260
AMORTISATION
At 1st June 2023 8,026
Charge for year 18,026
At 31st May 2024 26,052
NET BOOK VALUE
At 31st May 2024 154,208
At 31st May 2023 72,234

RAIGINS LTD (REGISTERED NUMBER: 07637078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2023 501 2,623 95,719 3,889 102,732
Additions 47,673 - 12,500 - 60,173
Disposals - - (10,688 ) - (10,688 )
At 31st May 2024 48,174 2,623 97,531 3,889 152,217
DEPRECIATION
At 1st June 2023 180 887 40,325 1,936 43,328
Charge for year 7,516 347 15,471 489 23,823
Eliminated on disposal - - (4,676 ) - (4,676 )
At 31st May 2024 7,696 1,234 51,120 2,425 62,475
NET BOOK VALUE
At 31st May 2024 40,478 1,389 46,411 1,464 89,742
At 31st May 2023 321 1,736 55,394 1,953 59,404

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st June 2023 100
Disposals (100 )
At 31st May 2024 -
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 100

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 489,334 548,214
Other debtors 148,557 77,160
637,891 625,374

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 92,223 7,057
Hire purchase contracts 2,875 -
Trade creditors 90,475 81,256
Amounts owed to group undertakings - 13,554
Taxation and social security 336,030 232,463
Other creditors 204,569 157,117
726,172 491,447

RAIGINS LTD (REGISTERED NUMBER: 07637078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 234,678 15,279
Hire purchase contracts 9,776 -
244,454 15,279

11. SECURED DEBTS

HSBC Invoice Finance UK hold a registered fixed and floating charge. The floating charge covers all the property or undertaking of the company.

HSBC UK Bank Plc holds a registered charge over the legal assignment of contract monies.

HSBC UK Bank PLC holds a registered fixed and floating charge. The floating charge covers all the property or undertaking of the company.