Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr A S White 10/02/2003 Mrs A L White 10/02/2003 11 September 2024 The principal activity of the Company during the financial year was that of the design and manufacture of engineering equipment. 04659910 2024-03-31 04659910 bus:Director1 2024-03-31 04659910 bus:Director2 2024-03-31 04659910 2023-03-31 04659910 core:CurrentFinancialInstruments 2024-03-31 04659910 core:CurrentFinancialInstruments 2023-03-31 04659910 core:ShareCapital 2024-03-31 04659910 core:ShareCapital 2023-03-31 04659910 core:RetainedEarningsAccumulatedLosses 2024-03-31 04659910 core:RetainedEarningsAccumulatedLosses 2023-03-31 04659910 core:LeaseholdImprovements 2023-03-31 04659910 core:PlantMachinery 2023-03-31 04659910 core:OfficeEquipment 2023-03-31 04659910 core:LeaseholdImprovements 2024-03-31 04659910 core:PlantMachinery 2024-03-31 04659910 core:OfficeEquipment 2024-03-31 04659910 bus:OrdinaryShareClass1 2024-03-31 04659910 bus:OrdinaryShareClass2 2024-03-31 04659910 bus:OrdinaryShareClass3 2024-03-31 04659910 bus:OrdinaryShareClass4 2024-03-31 04659910 2023-04-01 2024-03-31 04659910 bus:FilletedAccounts 2023-04-01 2024-03-31 04659910 bus:SmallEntities 2023-04-01 2024-03-31 04659910 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04659910 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04659910 bus:Director1 2023-04-01 2024-03-31 04659910 bus:Director2 2023-04-01 2024-03-31 04659910 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 04659910 core:PlantMachinery 2023-04-01 2024-03-31 04659910 core:OfficeEquipment 2023-04-01 2024-03-31 04659910 2022-04-01 2023-03-31 04659910 core:LeaseholdImprovements 2023-04-01 2024-03-31 04659910 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04659910 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04659910 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 04659910 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 04659910 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 04659910 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 04659910 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 04659910 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04659910 (England and Wales)

RACAW LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

RACAW LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

RACAW LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
RACAW LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr A S White
Mrs A L White
SECRETARY Mr A S White
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 04659910 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
RACAW LIMITED

BALANCE SHEET

As at 31 March 2024
RACAW LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 23,729 28,962
23,729 28,962
Current assets
Stocks 51,854 45,556
Debtors 4 96,985 160,698
Cash at bank and in hand 129,857 94,944
278,696 301,198
Creditors: amounts falling due within one year 5 ( 136,581) ( 161,137)
Net current assets 142,115 140,061
Total assets less current liabilities 165,844 169,023
Provision for liabilities ( 5,358) ( 6,513)
Net assets 160,486 162,510
Capital and reserves
Called-up share capital 6 400 400
Profit and loss account 160,086 162,110
Total shareholders' funds 160,486 162,510

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Racaw Limited (registered number: 04659910) were approved and authorised for issue by the Board of Directors on 11 September 2024. They were signed on its behalf by:

Mr A S White
Director
RACAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
RACAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Racaw Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are
impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

The company holds the following financial instruments:
• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic. The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to
another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 April 2023 26,231 57,449 43,027 126,707
At 31 March 2024 26,231 57,449 43,027 126,707
Accumulated depreciation
At 01 April 2023 22,607 39,082 36,056 97,745
Charge for the financial year 735 2,755 1,743 5,233
At 31 March 2024 23,342 41,837 37,799 102,978
Net book value
At 31 March 2024 2,889 15,612 5,228 23,729
At 31 March 2023 3,624 18,367 6,971 28,962

4. Debtors

2024 2023
£ £
Trade debtors 89,516 154,290
Other debtors 7,469 6,408
96,985 160,698

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,526 21,216
Taxation and social security 35,487 27,935
Other creditors 90,568 111,986
136,581 161,137

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
100 Ordinary C shares of £ 1.00 each 100 100
400 400