Registered number
00780968
R.J.Raven Limited
Report and Accounts
31 December 2023
R.J.Raven Limited
Registered number: 00780968
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be that of Fuel Retailing
Directors
The following persons served as directors during the year:
Mrs D Raven
Mr G Raven
Mrs V Raven (Non-Executive)
Mrs L Read (Non Executive)
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 9 August 2024 and signed on its behalf.
Mr G Raven
Director
R.J.Raven Limited
Report to the directors on the preparation of the unaudited statutory accounts of R.J.Raven Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R.J.Raven Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
CALM Retail Accounting Ltd
Chartered Certified Accountants
Low Cottage
10 Low Cross
Whittlesey
Peterborough
PE7 1HW
9 August 2024
R.J.Raven Limited
Registered number: 00780968
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,744,110 457,434
Investments 4 78,664 70,361
1,822,774 527,795
Current assets
Stocks 193,460 187,660
Debtors 5 229,158 317,806
Cash at bank and in hand 501,699 770,909
924,317 1,276,375
Creditors: amounts falling due within one year 6 (916,603) (1,076,050)
Net current assets 7,714 200,325
Total assets less current liabilities 1,830,488 728,120
Creditors: amounts falling due after more than one year 7 (487,797) (367,756)
Provisions for liabilities (67,734) (40,422)
Net assets 1,274,957 319,942
Capital and reserves
Called up share capital 2,730 1,200
Share premium 928,470 -
Revaluation reserve 9 - 112,435
Profit and loss account 343,757 206,307
Shareholders' funds 1,274,957 319,942
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Raven
Director
Approved by the board on 9 August 2024
R.J.Raven Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 10 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 26 26
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 677,408 883,546 42,173 1,603,127
Additions 1,244,354 134,882 - 1,379,236
Disposals (230,000) - - (230,000)
At 31 December 2023 1,691,762 1,018,428 42,173 2,752,363
Depreciation
At 1 January 2023 453,049 658,831 33,813 1,145,693
Charge for the year 48,160 42,312 2,088 92,560
On disposals (230,000) - - (230,000)
At 31 December 2023 271,209 701,143 35,901 1,008,253
Net book value
At 31 December 2023 1,420,553 317,285 6,272 1,744,110
At 31 December 2022 224,359 224,715 8,360 457,434
4 Investments
Other
investments
£
Cost
At 1 January 2023 70,361
Additions 4,200
Revaluation 4,103
At 31 December 2023 78,664
5 Debtors 2023 2022
£ £
Trade debtors 157,485 259,702
Other debtors 71,673 58,104
229,158 317,806
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 79,139 61,685
Trade creditors 444,733 567,781
Taxation and social security costs 103,816 170,868
Other creditors 288,915 275,716
916,603 1,076,050
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 487,797 367,756
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 465,576 367,756
The Loans are secured on the property that the Business owns and occupies.
9 Revaluation reserve 2023 2022
£ £
At 1 January 2023 112,435 112,435
Loss on revaluation of land and buildings (112,435) -
At 31 December 2023 - 112,435
# Related party transactions
Land owned by a Director has been sold to the company in exchange for Shares and a Cash consideration
11 Other information
R.J.Raven Limited is a private company limited by shares and incorporated in England. Its registered office is:
Midway Garage
91 London Road
Abridge, Romford
Essex
RM4 1XL
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