Registered number
06700773
ASK (RANY) LIMITED
Filleted Accounts
30 November 2023
ASK (RANY) LIMITED
Registered number: 06700773
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 149,949 61,600
Tangible assets 4 3,055,891 2,730,731
3,205,840 2,792,331
Current assets
Stocks 303,260 331,927
Debtors 5 37,231 33,690
Cash at bank and in hand 118,092 83,364
458,583 448,981
Creditors: amounts falling due within one year 6 (426,509) (404,063)
Net current assets 32,074 44,918
Total assets less current liabilities 3,237,914 2,837,249
Creditors: amounts falling due after more than one year 7 (2,440,148) (2,246,261)
Net assets 797,766 590,988
Capital and reserves
Called up share capital 2 2
Profit and loss account 797,764 590,986
Shareholders' funds 797,766 590,988
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.
S Arulanantham
Director
Approved by the board on 29 August 2024
ASK (RANY) LIMITED
Notes to the Accounts
for the year ended 30 November 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:
Intangible Assets 10% Straight line
Plant and machinery and Fixtures & Fittings 15% Straight line
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 13 14
3 Intangible fixed assets £
Cost
At 1 December 2022 77,000
Additions 90,549
At 30 November 2023 167,549
Amortisation
At 1 December 2022 15,400
Provided during the year 2,200
At 30 November 2023 17,600
Net book value
At 30 November 2023 149,949
At 30 November 2022 61,600
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 2,705,736 49,189 2,754,925
Additions 329,733 3,300 333,033
At 30 November 2023 3,035,469 52,489 3,087,958
Depreciation
At 1 December 2022 - 24,194 24,194
Charge for the year - 7,873 7,873
At 30 November 2023 - 32,067 32,067
Net book value
At 30 November 2023 3,035,469 20,422 3,055,891
At 30 November 2022 2,705,736 24,995 2,730,731
5 Debtors 2023 2022
£ £
Other debtors 37,231 33,690
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 97,820 99,194
Trade creditors 175,443 186,053
Corporation tax 131,169 106,875
Other taxes and social security costs 21,656 11,503
Other creditors 421 438
426,509 404,063
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,769,488 1,623,856
Shareholder Loan 670,660 622,405
2,440,148 2,246,261
8 Other information
ASK (RANY) LIMITED is a private company limited by shares and incorporated in England.
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