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Registered number: 12537490
RAW COMMERCE GROUP LIMITED
Financial Statements
For The Year Ended 31 March 2024
Virgate Accounts Ltd
1st Floor Olympus House
Quedgeley
Gloucester
GL2 4NF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12537490
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,547 22,027
17,547 22,027
CURRENT ASSETS
Debtors 5 66,827 100
Cash at bank and in hand 75 -
66,902 100
Creditors: Amounts Falling Due Within One Year 6 (85,619 ) (22,400 )
NET CURRENT ASSETS (LIABILITIES) (18,717 ) (22,300 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,170 ) (273 )
NET LIABILITIES (1,170 ) (273 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (1,270 ) (373 )
SHAREHOLDERS' FUNDS (1,170) (273)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Gillatt
Director
07/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
RAW COMMERCE GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12537490 . The registered office is 1st Floor Olympus House, Quedgeley, Gloucester, GL2 4NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 22,400
As at 31 March 2024 22,400
Amortisation
As at 1 April 2023 373
Provided during the period 4,480
As at 31 March 2024 4,853
Net Book Value
As at 31 March 2024 17,547
As at 1 April 2023 22,027
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,824 -
Prepayments and accrued income 61,287 -
Amounts owed by group undertakings 1,716 100
66,827 100
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 67,988 14,400
Other creditors 8,000 8,000
Amounts owed to group undertakings 9,631 -
85,619 22,400
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Ultimate Controlling Party
The company's ultimate controlling party is Raw International Limited by virtue of its ownership of 100% of the issued share capital in the company.
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