Registered number
09375342
Rachael Enterprise Limited
Unaudited Filleted Accounts
31 January 2024
Rachael Enterprise Limited
Registered number: 09375342
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,565 44,456
Current assets
Stocks - 225
Debtors 4 2,210 2,210
Cash at bank and in hand 92,686 122,320
94,896 124,755
Creditors: amounts falling due within one year 5 (54,569) (63,190)
Net current assets 40,327 61,565
Net assets 75,892 106,021
Capital and reserves
Called up share capital 100 100
Profit and loss account 75,792 105,921
Shareholder's funds 75,892 106,021
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 her 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.
Ms H Gong
Director
Approved by the board on 15 October 2024
Rachael Enterprise Limited
Notes to the Accounts
for the year ended 31 January 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).
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:
Shop improvement 20% reducing balance
Plant and machinery 20% 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 12
3 Tangible fixed assets
Plant and machinery etc Shop improvement Total
£ £ £
Cost
At 1 February 2023 94,391 6,335 100,726
At 31 January 2024 94,391 6,335 100,726
Depreciation
At 1 February 2023 53,989 2,281 56,270
Charge for the year 8,080 811 8,891
At 31 January 2024 62,069 3,092 65,161
Net book value
At 31 January 2024 32,322 3,243 35,565
At 31 January 2023 40,402 4,054 44,456
4 Debtors 2024 2023
£ £
Other debtors 2,210 2,210
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,000 10,000
Taxation and social security costs - 3,137
Other creditors 44,569 50,053
54,569 63,190
6 Controlling party
The company was under the control of the director, Ms H Gong by virtue of her shareholdings in the company.
7 Other information
Rachael Enterprise Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
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