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Registered number: 12041662
Ragson Construction Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
Chartax Associates & Co
103 B Island Business Centre
18-36 Wellington Street
Woolwich
London
SE18 6PF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12041662
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,200 2,399
1,200 2,399
CURRENT ASSETS
Debtors 5 17,685 18,406
Cash at bank and in hand 1,425 225
19,110 18,631
Creditors: Amounts Falling Due Within One Year 6 (23,636 ) (15,228 )
NET CURRENT ASSETS (LIABILITIES) (4,526 ) 3,403
TOTAL ASSETS LESS CURRENT LIABILITIES (3,326 ) 5,802
Creditors: Amounts Falling Due After More Than One Year 7 (9,524 ) (13,801 )
NET LIABILITIES (12,850 ) (7,999 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (12,851 ) (8,000 )
SHAREHOLDERS' FUNDS (12,850) (7,999)
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Prabin Rai
Director
20 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ragson Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12041662 . The registered office is 430 Rochester Way, London, SE9 6LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The balance sheet is in net deficit. The accounts are prepared on going concern basis as the directors and shareholders
will continue to provide financial supports.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
Fixtures & Fittings 20% Straight line
Computer Equipment 20% Straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 4)
5 4
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2022 1,000 4,000 998 5,998
As at 30 June 2023 1,000 4,000 998 5,998
Depreciation
As at 1 July 2022 600 2,400 599 3,599
Provided during the period 200 800 199 1,199
As at 30 June 2023 800 3,200 798 4,798
Net Book Value
As at 30 June 2023 200 800 200 1,200
As at 1 July 2022 400 1,600 399 2,399
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 17,185 17,906
Other debtors-Advances 500 500
17,685 18,406
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,416 1,840
Bank loans and overdrafts 4,398 4,028
Corporation tax 2,609 1,880
Other taxes and social security 6,835 2,223
Net wages 3,328 3,393
Pension Payable 130 104
Accruals and deferred income 1,920 1,760
23,636 15,228
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,524 13,801
Page 4
Page 5
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5