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REGISTERED NUMBER: 07182687 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RACK-N-STAK LIMITED

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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


RACK-N-STAK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D Tyrer
D Walters
Mrs A Tyrer Beardsworth





REGISTERED OFFICE: 9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND





REGISTERED NUMBER: 07182687 (England and Wales)





ACCOUNTANTS: Streets Turner Limited
Chartered Accountants
9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 275,716 258,799

CURRENT ASSETS
Stocks 160,666 104,354
Debtors 5 324,308 280,765
Cash at bank 137,009 101,372
621,983 486,491
CREDITORS
Amounts falling due within one year 6 530,419 379,538
NET CURRENT ASSETS 91,564 106,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,280

365,752

CREDITORS
Amounts falling due after more than one
year

7

(24,503

)

(38,889

)

PROVISIONS FOR LIABILITIES (51,501 ) (48,091 )
NET ASSETS 291,276 278,772

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 291,176 278,672
SHAREHOLDERS' FUNDS 291,276 278,772

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.

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

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 16 September 2024 and were signed on its behalf by:





D Tyrer - Director


RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Rack-N-Stak Limited is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 8,963 296,729 19,056
Additions - 142,282 267
Disposals - (62,049 ) -
At 31 March 2024 8,963 376,962 19,323
DEPRECIATION
At 1 April 2023 8,963 139,865 18,669
Charge for year - 50,353 237
Eliminated on disposal - (24,877 ) -
At 31 March 2024 8,963 165,341 18,906
NET BOOK VALUE
At 31 March 2024 - 211,621 417
At 31 March 2023 - 156,864 387

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 257,611 24,390 606,749
Additions - 958 143,507
Disposals - - (62,049 )
At 31 March 2024 257,611 25,348 688,207
DEPRECIATION
At 1 April 2023 160,050 20,403 347,950
Charge for year 36,490 2,338 89,418
Eliminated on disposal - - (24,877 )
At 31 March 2024 196,540 22,741 412,491
NET BOOK VALUE
At 31 March 2024 61,071 2,607 275,716
At 31 March 2023 97,561 3,987 258,799

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 110,812
DEPRECIATION
At 1 April 2023 38,991
Charge for year 22,163
At 31 March 2024 61,154
NET BOOK VALUE
At 31 March 2024 49,658
At 31 March 2023 71,821

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 317,523 276,226
Other debtors 6,785 4,539
324,308 280,765

RACK-N-STAK LIMITED (REGISTERED NUMBER: 07182687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 14,386 14,386
Trade creditors 351,757 225,633
Taxation and social security 53,865 67,010
Other creditors 110,411 72,509
530,419 379,538

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 24,503 38,889

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 38,889 53,275

The National Westminster Bank plc. has a debenture with the company that places a fixed charge over the company's current and future fixed assets and a floating charge over its' current assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
64 Ordinary A £1 64 64
36 Ordinary B £1 36 36
100 100

10. OTHER FINANCIAL COMMITMENTS

The company's financial commitment in regard to property totalled £38,889 (2023 - £53,275) as at the year end.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Tyrer.