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REGISTERED NUMBER: 01609509 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Raxel Storage Systems Limited

Raxel Storage Systems Limited (Registered number: 01609509)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Raxel Storage Systems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M V Daniele





SECRETARY: Mrs L Fahy





REGISTERED OFFICE: Unit 4 Ruston Road
Alma Park Industrial Estate
Grantham
Lincolnshire
NG31 9SW





REGISTERED NUMBER: 01609509 (England and Wales)





ACCOUNTANTS: Xeinadin
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ

Raxel Storage Systems Limited (Registered number: 01609509)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,160 3,240
Tangible assets 5 116,100 103,633
118,260 106,873

CURRENT ASSETS
Debtors 6 801,023 989,830
Cash at bank 909,805 795,368
1,710,828 1,785,198
CREDITORS
Amounts falling due within one year 7 430,694 648,022
NET CURRENT ASSETS 1,280,134 1,137,176
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,398,394

1,244,049

CREDITORS
Amounts falling due after more than one year 8 (48,883 ) (18,041 )

PROVISIONS FOR LIABILITIES (19,805 ) (9,410 )

ACCRUALS AND DEFERRED INCOME (3,124 ) (3,905 )
NET ASSETS 1,326,582 1,212,693

Raxel Storage Systems Limited (Registered number: 01609509)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 72 72
Retained earnings 1,326,410 1,212,521
SHAREHOLDERS' FUNDS 1,326,582 1,212,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 May 2024 and were signed by:





M V Daniele - Director


Raxel Storage Systems Limited (Registered number: 01609509)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Raxel Storage Systems 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Raxel Storage Systems Limited (Registered number: 01609509)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Government grants
Deferred grants relating to capital expenditure have been released to the profit and loss account to match the depreciation charge of the assets they relate to.

Grants related to profit and loss expenditure are recognised as income over the period necessary to match them with the related costs, for which they are intended to compensate, on a systematic basis.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

Raxel Storage Systems Limited (Registered number: 01609509)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 5,400
AMORTISATION
At 1 February 2023 2,160
Charge for year 1,080
At 31 January 2024 3,240
NET BOOK VALUE
At 31 January 2024 2,160
At 31 January 2023 3,240

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 58,980 29,465 217,034 305,479
Additions 1,256 - 83,529 84,785
Disposals - - (99,230 ) (99,230 )
At 31 January 2024 60,236 29,465 201,333 291,034
DEPRECIATION
At 1 February 2023 56,826 17,980 127,040 201,846
Charge for year 1,699 2,921 19,426 24,046
Eliminated on disposal - - (50,958 ) (50,958 )
At 31 January 2024 58,525 20,901 95,508 174,934
NET BOOK VALUE
At 31 January 2024 1,711 8,564 105,825 116,100
At 31 January 2023 2,154 11,485 89,994 103,633

Raxel Storage Systems Limited (Registered number: 01609509)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 284,402 536,087
Amounts owed by group undertakings 476,374 416,250
Other debtors 40,247 37,493
801,023 989,830

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 29,322 21,487
Trade creditors 177,404 231,968
Taxation and social security 85,897 134,187
Other creditors 138,071 260,380
430,694 648,022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 48,883 18,041

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 78,205 39,528

The obligations under hire purchase contracts are secured on the assets to which they relate.

The bank loan outstanding in the parent company Pocket Warehouse Holdings Limited is secured by a debenture over the assets of Raxel Storage Systems Limited

10. OTHER FINANCIAL COMMITMENTS

At the year end the company had a future financial commitments of £42,856 (2023: £14,850).