BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was to carry on the business of operating a convenience store. 9 August 2024 0 0 NI604541 2023-12-31 NI604541 2022-12-31 NI604541 2021-12-31 NI604541 2023-01-01 2023-12-31 NI604541 2022-01-01 2022-12-31 NI604541 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI604541 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI604541 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI604541 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI604541 uk-core:ShareCapital 2023-12-31 NI604541 uk-core:ShareCapital 2022-12-31 NI604541 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI604541 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI604541 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI604541 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI604541 uk-bus:FRS102 2023-01-01 2023-12-31 NI604541 uk-core:Goodwill 2023-01-01 2023-12-31 NI604541 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI604541 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI604541 uk-core:Goodwill 2022-12-31 NI604541 uk-core:Goodwill 2023-12-31 NI604541 uk-core:CurrentFinancialInstruments 2023-12-31 NI604541 uk-core:CurrentFinancialInstruments 2022-12-31 NI604541 uk-core:WithinOneYear 2023-12-31 NI604541 uk-core:WithinOneYear 2022-12-31 NI604541 uk-core:WithinOneYear 2023-12-31 NI604541 uk-core:WithinOneYear 2022-12-31 NI604541 uk-core:AfterOneYear 2023-12-31 NI604541 uk-core:AfterOneYear 2022-12-31 NI604541 uk-core:BetweenOneTwoYears 2023-12-31 NI604541 uk-core:BetweenOneTwoYears 2022-12-31 NI604541 uk-core:BetweenTwoFiveYears 2023-12-31 NI604541 uk-core:BetweenTwoFiveYears 2022-12-31 NI604541 2023-01-01 2023-12-31 NI604541 uk-bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 NI604541 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI604541
 
 
Ranfern Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Ranfern Limited
Company Registration Number: NI604541
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
 
Intangible assets 5 437,500 487,500
 
Tangible assets 6 351,387 293,651
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Fixed Assets 788,887 781,151
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Current Assets
 
Stocks 7 257,672 227,770
 
Debtors 8 116,483 100,781
 
Cash and cash equivalents 220,244 349,465
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594,399 678,016
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Creditors: amounts falling due within one year 9 (788,129) (764,285)
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Net Current Liabilities (193,730) (86,269)
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Total Assets less Current Liabilities 595,157 694,882
 
Creditors:
 
amounts falling due after more than one year 10 (138,152) (293,046)
 
 
Deferred Income 11 (137,500) (167,500)
───────── ─────────
Net Assets 319,505 234,336
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Capital and Reserves
 
Called up share capital 100 100
 
Retained earnings 319,405 234,236
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Equity attributable to owners of the company 319,505 234,336
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 9 August 2024 and signed on its behalf by
           
           
________________________________          
David Martin          
Director          
           



Ranfern Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Ranfern Limited is a company limited by shares incorporated in Northern Ireland. registration number NI604541.The registered office is c/o Centra Holywood, 101-103 High Street, Holywood, Co.Down BT18 9AG.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from the sale of goods is recognised when all the following conditions are satisfied:
- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the Company; and
- the costs incurred or to be incurred in respect of the transition can be measured reliably.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 10% StraightLine
  Computer Equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Deferred Income
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
   
3. Going concern
 
The directors of Ranfern Limited believe that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, Ranfern Limited continues to adopt the going concern basis in preparation of its financial statements.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 74, (2022 65).
       
5. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 January 2023 500,000 500,000
  ───────── ─────────
 
At 31 December 2023 500,000 500,000
  ───────── ─────────
Amortisation
At 1 January 2023 12,500 12,500
Charge for financial year 50,000 50,000
  ───────── ─────────
At 31 December 2023 62,500 62,500
  ───────── ─────────
Net book value
At 31 December 2023 437,500 437,500
  ═════════ ═════════
At 31 December 2022 487,500 487,500
  ═════════ ═════════
         
6. Tangible assets
  Fixtures, Computer Equipment Total
  fittings and    
  equipment    
  £ £ £
Cost
At 1 January 2023 745,652 10,252 755,904
Additions 126,166 4,431 130,597
  ───────── ───────── ─────────
At 31 December 2023 871,818 14,683 886,501
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 456,553 5,700 462,253
Charge for the financial year 71,142 1,719 72,861
  ───────── ───────── ─────────
At 31 December 2023 527,695 7,419 535,114
  ───────── ───────── ─────────
Net book value
At 31 December 2023 344,123 7,264 351,387
  ═════════ ═════════ ═════════
At 31 December 2022 289,099 4,552 293,651
  ═════════ ═════════ ═════════
       
7. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 257,672 227,770
  ═════════ ═════════
       
8. Debtors 2023 2022
  £ £
 
Amounts owed by related parties 85,469 69,956
Other debtors 1,791 3,922
Prepayments and accrued income 29,223 26,903
  ───────── ─────────
  116,483 100,781
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 26,680 21,139
Trade creditors 453,136 476,799
Taxation 121,191 111,310
Directors' current accounts 3,312 6,411
Other creditors 20,522 14,271
Accruals 163,288 134,355
  ───────── ─────────
  788,129 764,285
  ═════════ ═════════
 
Musgrave Retail Partners NI Limited have secured the assets of Ranfern Ltd by way of both a fixed charge and debenture.

The banks loans are secured by way of both a fixed and floating charge.
       
10. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 27,039 37,490
Other Creditors 111,113 255,556
  ───────── ─────────
  138,152 293,046
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 26,680 21,139
Repayable between one and two years 27,039 29,932
Repayable between two and five years - 7,558
  ───────── ─────────
  53,719 58,629
  ═════════ ═════════
 
       
11. GRANTS 2023 2022
  £ £
 
Capital grants received and receivable
At 1 January 2023 167,500 197,500
Written off (30,000) (30,000)
  ───────── ─────────
 
At 31 December 2023 137,500 167,500
  ═════════ ═════════
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
13. Share Capital
 
Alloted, called up and fully paid
 
  2023 2022
  £ £
 
Ordinary Shares 100 100
  ═════════ ═════════