Registered number
09337898
Ram & Family Trading Ltd
Filleted Accounts
31 December 2023
Ram & Family Trading Ltd
Registered number: 09337898
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 397,831 403,543
Current assets
Stocks 155,485 95,485
Debtors 4 9,182 9,513
Cash at bank and in hand 1,395 2,080
166,062 107,078
Creditors: amounts falling due within one year 5 (438,168) (347,914)
Net current liabilities (272,106) (240,836)
Total assets less current liabilities 125,725 162,707
Creditors: amounts falling due after more than one year 6 (202,421) (228,946)
Provisions for liabilities (18) (24)
Net liabilities (76,714) (66,263)
Capital and reserves
Called up share capital 50 50
Profit and loss account (76,764) (66,313)
Shareholder's funds (76,714) (66,263)
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 member has 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.
Rupinder Singh
Director
Approved by the board on 25 September 2024
Ram & Family Trading Ltd
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.
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:
Plant and machinery 25% reducing balance
Building 4% straight line
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 426,200 950 427,150
At 31 December 2023 426,200 950 427,150
Depreciation
At 1 January 2023 22,752 855 23,607
Charge for the year 5,688 24 5,712
At 31 December 2023 28,440 879 29,319
Net book value
At 31 December 2023 397,760 71 397,831
At 31 December 2022 403,448 95 403,543
4 Debtors 2023 2022
£ £
Other debtors 9,182 9,513
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 29,227 25,420
Trade creditors 272,099 164,106
Other taxes and social security costs 4,419 6,586
Other creditors 132,423 151,802
438,168 347,914
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 202,421 228,946
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 113,476 132,863
Secured bank loans 205,815 218,533
The Bank loan is secured over freehold property held by the company and over fixed and floating charges over the company's assets.
8 Controlling party
The company is under the control of its director, Mr Rupinder Singh by virtue of his shareholding in the issued share capital of the company.
9 Other information
Ram & Family Trading Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1B, First Floor
142 Johnson Street
Southall
Middlesex
UB2 5FD
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