Registered number
04913622
RAE Computing Limited
Filleted Accounts
31 March 2024
RAE Computing Limited
Registered number: 04913622
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 48,140 59,017
Current assets
Debtors 4 20,547 11,450
Cash at bank and in hand 6,572 24,474
27,119 35,924
Creditors: amounts falling due within one year 5 (36,827) (37,365)
Net current liabilities (9,708) (1,441)
Total assets less current liabilities 38,432 57,576
Creditors: amounts falling due after more than one year 6 (39,960) (46,968)
Net (liabilities)/assets (1,528) 10,608
Capital and reserves
Called up share capital 2 2
Profit and loss account (1,530) 10,606
Shareholder's funds (1,528) 10,608
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.
Mr R Eyres
Director
Approved by the board on 11 October 2024
RAE Computing Limited
Notes to the Accounts
for the year ended 31 March 2024
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:
Fixtures and fittings 25% reducing balance
Office equipment 25% reducing balance
Computer equipment 25% 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £
Cost
At 1 April 2023 20,340 13,200 106,332 139,872
Additions - - 4,510 4,510
At 31 March 2024 20,340 13,200 110,842 144,382
Depreciation
At 1 April 2023 12,506 7,083 61,266 80,855
Charge for the year 1,966 1,537 11,884 15,387
At 31 March 2024 14,472 8,620 73,150 96,242
Net book value
At 31 March 2024 5,868 4,580 37,692 48,140
At 31 March 2023 7,834 6,117 45,066 59,017
4 Debtors 2024 2023
£ £
Trade debtors 7,337 10,009
Other debtors 13,210 1,441
20,547 11,450
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,044 3,652
Trade creditors 6,977 10,134
Taxation and social security costs 22,806 21,108
Other creditors - 2,471
36,827 37,365
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 39,960 46,968
7 Other information
RAE Computing Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 132 Regus
Salts Mill Road
Saltaire
Shipley
BD17 7TD
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