Registered number
00465206
RAMER LIMITED
Filleted Accounts
31 December 2023
RAMER LIMITED
Registered number: 00465206
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 991 822
Tangible assets 4 147,171 161,530
148,162 162,352
Current assets
Stocks 308,859 218,951
Debtors 5 119,718 202,253
Cash at bank and in hand 105,180 118,578
533,757 539,782
Creditors: amounts falling due within one year 6 (298,893) (324,165)
Net current assets 234,864 215,617
Total assets less current liabilities 383,026 377,969
Creditors: amounts falling due after more than one year 7 (98,029) (107,414)
Provisions for liabilities (28,696) (28,696)
Net assets 256,301 241,859
Capital and reserves
Called up share capital 30,000 30,000
Capital redemption 30,000 30,000
Revaluation reserve 9 48,663 48,663
Profit and loss account 147,638 133,196
Shareholders' funds 256,301 241,859
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A Lloyd Smith
Director
Approved by the board on 18 July 2024
RAMER LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor 25% reducing balance
Buildings 5 % straight line
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 20
3 Intangible fixed assets £
Development costs
Cost
At 1 January 2023 45,748
Additions 698
At 31 December 2023 46,446
Amortisation
At 1 January 2023 44,926
Provided during the year 529
At 31 December 2023 45,455
Net book value
At 31 December 2023 991
At 31 December 2022 822
Development costs are being written off in equal annual instalments over its estimated economic life of 6.6 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 82,851 880,028 21,240 984,119
Additions - 11,421 - 11,421
At 31 December 2023 82,851 891,449 21,240 995,540
Depreciation
At 1 January 2023 81,320 731,977 9,292 822,589
Charge for the year 1,531 21,586 2,663 25,780
At 31 December 2023 82,851 753,563 11,955 848,369
Net book value
At 31 December 2023 - 137,886 9,285 147,171
At 31 December 2022 1,531 148,051 11,948 161,530
5 Debtors 2023 2022
£ £
Trade debtors 99,443 191,349
Other debtors 20,275 10,904
119,718 202,253
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 49,205 80,221
Obligations under finance lease and hire purchase contracts 76 7,280
Trade creditors 187,976 181,317
Taxation and social security costs 42,659 30,120
Other creditors 18,977 25,227
298,893 324,165
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 98,029 107,414
8 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than one year 98,029 128,293
Secured bank loans 98,029 118,052
The bank loan is secured on property owned by the director and a former director of the company.
9 Revaluation reserve 2023 2022
£ £
At 1 January 2023 48,663 48,663
At 31 December 2023 48,663 48,663
10 Related party transactions
During the year, the company paid rent for a property owned jointly by the director and a former director of the company.
11 Controlling party
The company is under the control of the director
12 Other information
RAMER LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Heath Park Industrial Estate
Devonshire Road
Honiton
Devon
EX14 1SD
RAMER LIMITED 00465206 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 P A Lloyd Smith No description of principal activity 00465206 2022-01-01 2022-12-31 00465206 core:WithinOneYear 2022-12-31 00465206 core:AfterOneYear 2022-12-31 00465206 core:ShareCapital 2022-12-31 00465206 core:OtherReservesSubtotal 2022-12-31 00465206 core:RetainedEarningsAccumulatedLosses 2022-12-31 00465206 core:RevaluationReserve 2021-12-31 00465206 2023-01-01 2023-12-31 00465206 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00465206 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00465206 bus:Director40 2023-01-01 2023-12-31 00465206 1 2023-01-01 2023-12-31 00465206 2 2023-01-01 2023-12-31 00465206 core:Goodwill 2023-01-01 2023-12-31 00465206 core:LandBuildings 2023-01-01 2023-12-31 00465206 core:PlantMachinery 2023-01-01 2023-12-31 00465206 core:Vehicles 2023-01-01 2023-12-31 00465206 countries:England 2023-01-01 2023-12-31 00465206 bus:FRS102 2023-01-01 2023-12-31 00465206 bus:FilletedAccounts 2023-01-01 2023-12-31 00465206 2023-12-31 00465206 core:WithinOneYear 2023-12-31 00465206 core:AfterOneYear 2023-12-31 00465206 core:ShareCapital 2023-12-31 00465206 core:OtherReservesSubtotal 2023-12-31 00465206 core:RetainedEarningsAccumulatedLosses 2023-12-31 00465206 core:Goodwill 2023-12-31 00465206 core:LandBuildings 2023-12-31 00465206 core:PlantMachinery 2023-12-31 00465206 core:Vehicles 2023-12-31 00465206 core:RevaluationReserve 2023-12-31 00465206 2022-12-31 00465206 core:Goodwill 2022-12-31 00465206 core:LandBuildings 2022-12-31 00465206 core:PlantMachinery 2022-12-31 00465206 core:Vehicles 2022-12-31 00465206 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure