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REGISTERED NUMBER: SC196889 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ravenscragg Limited

Ravenscragg Limited (Registered number: SC196889)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ravenscragg Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr G Wilson
Mr M C Simpson
Mr A G Wilson





REGISTERED OFFICE: Unit 2, Deemouth Centre
South Esplanade East
Aberdeen
AB11 9PB





REGISTERED NUMBER: SC196889 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Ravenscragg Limited (Registered number: SC196889)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 126,820 144,785
Investment property 5 701,533 524,852
828,353 669,637

CURRENT ASSETS
Debtors 6 530,605 498,481
Cash at bank and in hand 200,384 331,030
730,989 829,511
CREDITORS
Amounts falling due within one year 7 252,439 243,423
NET CURRENT ASSETS 478,550 586,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,306,903

1,255,725

PROVISIONS FOR LIABILITIES 31,342 27,509
NET ASSETS 1,275,561 1,228,216

CAPITAL AND RESERVES
Called up share capital 153 153
Retained earnings 1,275,408 1,228,063
SHAREHOLDERS' FUNDS 1,275,561 1,228,216

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Ravenscragg Limited (Registered number: SC196889)

Balance Sheet - continued
31 March 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 13 August 2024 and were signed on its behalf by:





Mr G Wilson - Director


Ravenscragg Limited (Registered number: SC196889)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ravenscragg Limited is a private company, limited by shares , registered in Scotland. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
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.

Ravenscragg Limited (Registered number: SC196889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 66,717 165,023 231,740
Additions 14,022 - 14,022
Disposals (44,365 ) - (44,365 )
At 31 March 2024 36,374 165,023 201,397
DEPRECIATION
At 1 April 2023 65,691 21,264 86,955
Charge for year 3,035 28,752 31,787
Eliminated on disposal (44,165 ) - (44,165 )
At 31 March 2024 24,561 50,016 74,577
NET BOOK VALUE
At 31 March 2024 11,813 115,007 126,820
At 31 March 2023 1,026 143,759 144,785

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 524,852
Additions 176,681
At 31 March 2024 701,533
NET BOOK VALUE
At 31 March 2024 701,533
At 31 March 2023 524,852

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 454,288 485,987
Other debtors 76,317 12,494
530,605 498,481

Ravenscragg Limited (Registered number: SC196889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 97,844 106,441
Taxation and social security 83,727 117,694
Other creditors 70,868 19,288
252,439 243,423

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr G Wilson
Balance outstanding at start of year (215 ) (26,077 )
Amounts advanced 116,213 132,412
Amounts repaid (116,159 ) (106,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (161 ) (215 )

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Wilson.