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Registered Number: 04778955
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 May 2024

for

RAINE DESIGN LIMITED

Chartered Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Raine Design Limited for the year ended 31 May 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Raine Design Limited for the year ended 31 May 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Raine Design Limited, as a body, in accordance with the terms of our engagement letter dated 29 February 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Raine Design Limited and state those matters that we have agreed to state to the Board of Directors of Raine Design Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raine Design Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Raine Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Raine Design Limited. You consider that Raine Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Raine Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements for the year ended 31 May 2024.




....................................................

KWSR & CO LTD

136 Merton High Street
London
SW19 1BA
25 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 206    258 
206    258 
Current assets      
Stocks 500    1,100 
Cash at bank and in hand 547    522 
1,047    1,622 
Creditors: amount falling due within one year (64,690)   (56,533)
Net current assets (63,643)   (54,911)
 
Total assets less current liabilities (63,437)   (54,653)
Net assets (63,437)   (54,653)
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account (63,438)   (54,654)
Shareholders' funds (63,437)   (54,653)
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 25 September 2024 and were signed by:


-------------------------------
Lorraine Turner
Director
2
General Information
Raine Design Limited is a private company, limited by shares, registered in England and Wales, registration number 04778955, registration address 88, Pendle Road, London, SW16 6RY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance 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) and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 June 2023 4,441    4,441 
Additions  
Disposals  
At 31 May 2024 4,441    4,441 
Depreciation
At 01 June 2023 4,183    4,183 
Charge for year 52    52 
On disposals  
At 31 May 2024 4,235    4,235 
Net book values
Closing balance as at 31 May 2024 206    206 
Opening balance as at 01 June 2023 258    258 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

5.

Going concern

The balance sheet is overdrawn by £63,437 and the Directors' Current Account is in credit balance of £64,690. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future and  does not expect to recover the loan from the company at the moment.
3