IRIS Accounts Production v24.2.0.383 01642089 Board of Directors 1.1.23 31.12.23 31.12.23 16.9.24 false true false false true false Auditors Opinion Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh016420892022-12-31016420892023-12-31016420892023-01-012023-12-31016420892021-12-31016420892022-01-012022-12-31016420892022-12-3101642089ns15:EnglandWales2023-01-012023-12-3101642089ns14:PoundSterling2023-01-012023-12-3101642089ns10:Director12023-01-012023-12-3101642089ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101642089ns10:SmallEntities2023-01-012023-12-3101642089ns10:Audited2023-01-012023-12-3101642089ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101642089ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101642089ns10:FullAccounts2023-01-012023-12-3101642089ns10:OrdinaryShareClass12023-01-012023-12-3101642089ns10:OrdinaryShareClass22023-01-012023-12-3101642089ns10:Director22023-01-012023-12-3101642089ns10:CompanySecretary12023-01-012023-12-3101642089ns10:RegisteredOffice2023-01-012023-12-3101642089ns5:CurrentFinancialInstruments2023-12-3101642089ns5:CurrentFinancialInstruments2022-12-3101642089ns5:Non-currentFinancialInstruments2023-12-3101642089ns5:Non-currentFinancialInstruments2022-12-3101642089ns5:ShareCapital2023-12-3101642089ns5:ShareCapital2022-12-3101642089ns5:SharePremium2023-12-3101642089ns5:SharePremium2022-12-3101642089ns5:RetainedEarningsAccumulatedLosses2023-12-3101642089ns5:RetainedEarningsAccumulatedLosses2022-12-3101642089ns5:PlantMachinery2023-01-012023-12-3101642089ns5:PlantMachinery2022-12-3101642089ns5:PlantMachinery2023-12-3101642089ns5:PlantMachinery2022-12-3101642089ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101642089ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101642089ns5:WithinOneYear2023-12-3101642089ns5:WithinOneYear2022-12-3101642089ns5:BetweenOneFiveYears2023-12-3101642089ns5:BetweenOneFiveYears2022-12-3101642089ns5:AllPeriods2023-12-3101642089ns5:AllPeriods2022-12-3101642089ns5:Secured2023-12-3101642089ns5:Secured2022-12-3101642089ns10:OrdinaryShareClass12023-12-3101642089ns10:OrdinaryShareClass22023-12-31
REGISTERED NUMBER: 01642089 (England and Wales)











RAM Universal Limited

Financial Statements

for the Year Ended 31 December 2023






RAM Universal Limited (Registered number: 01642089)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAM Universal Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R L James
R A James





SECRETARY: Mrs W M A James





REGISTERED OFFICE: Unit 20 Cottage Lane
Industrial Estate
Broughton Astley
Leicester
Leicestershire
LE9 6TU





REGISTERED NUMBER: 01642089 (England and Wales)





AUDITORS: Haines Watts Tamworth Limited
Chartered Accountants and Statutory Auditors
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

RAM Universal Limited (Registered number: 01642089)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,161 99,205

CURRENT ASSETS
Stocks 604,631 582,373
Debtors 5 1,346,342 1,761,690
Cash at bank and in hand 1,374,367 479,498
3,325,340 2,823,561
CREDITORS
Amounts falling due within one year 6 1,072,647 1,045,455
NET CURRENT ASSETS 2,252,693 1,778,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,563,854

1,877,311

CREDITORS
Amounts falling due after more than one year 7 (18,334 ) (28,333 )

PROVISIONS FOR LIABILITIES (77,790 ) (24,801 )
NET ASSETS 2,467,730 1,824,177

CAPITAL AND RESERVES
Called up share capital 10 30,222 30,222
Share premium 20,973 20,973
Retained earnings 2,416,535 1,772,982
SHAREHOLDERS' FUNDS 2,467,730 1,824,177

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 Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





R L James - Director


RAM Universal Limited (Registered number: 01642089)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

RAM Universal 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. Budgets and cash flow projections compiled indicate that the company has sufficient reserves to continue to trade and the directors believe that support afforded, careful cashflow considerations, is sufficient upon which to adopt the going concern basis.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Stock provisions. Management perform an ongoing review of stock items on a line by line basis and judgement is used to identify those which are deemed to be slow moving or redundant. These items are then written down in full.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

RAM Universal Limited (Registered number: 01642089)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

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.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and Straight line over the life of the lease

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

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans to or from related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the Income Statement.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

RAM Universal Limited (Registered number: 01642089)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 405,547
Additions 246,811
At 31 December 2023 652,358
DEPRECIATION
At 1 January 2023 306,342
Charge for year 34,855
At 31 December 2023 341,197
NET BOOK VALUE
At 31 December 2023 311,161
At 31 December 2022 99,205

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,095,168 1,686,691
Other debtors 251,174 74,999
1,346,342 1,761,690

RAM Universal Limited (Registered number: 01642089)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,754
Trade creditors 712,871 846,399
Taxation and social security 315,488 172,500
Other creditors 34,288 15,802
1,072,647 1,045,455

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,334 28,333

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 52,695 53,083
Between one and five years 10,534 44,618
63,229 97,701

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 754
Bank loans 28,334 38,333
28,334 39,087

The company has a factoring agreement which is secured by a fixed and floating charge over all assets of the company, both current and future. The factoring company also require the personal indemnity of the directors. Bank loans and overdrafts are also secured by way of a charge over the company assets should the overdraft facility be used.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
27,200 Ordinary A £1 27,200 27,200
3,022 Ordinary B £1 3,022 3,022
30,222 30,222

RAM Universal Limited (Registered number: 01642089)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Butler BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Tamworth Limited

12. RELATED PARTY DISCLOSURES

At the balance sheet date the Company had loans of £10,917 (2022 - £10,068) owing to Directors. These loans are non-interest bearing and are repayable, in full, on demand.

13. CONTROL

The company is not under the influence of any one controlling party.