Registered number
10122481
Raytrade UK Limited
Filleted Accounts
31 March 2024
Raytrade UK Limited
Registered number: 10122481
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,138 14,639
Current assets
Stocks 728,927 1,761,816
Debtors 5 794,429 220,726
Cash at bank and in hand 13,322 33,772
1,536,678 2,016,314
Creditors: amounts falling due within one year 6 (1,471,868) (1,914,629)
Net current assets 64,810 101,685
Total assets less current liabilities 67,948 116,324
Provisions for liabilities - (3,660)
Net assets 67,948 112,664
Capital and reserves
Called up share capital 150 150
Profit and loss account 67,798 112,514
Shareholders' funds 67,948 112,664
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J A Nicholson
Director
Approved by the board on 8 October 2024
Raytrade UK 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).
Going Concern
The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realiseable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 20% - 30.3% straight line
Motor Vehicles 20% 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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
including directors 6 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 21,988
At 31 March 2024 21,988
Amortisation
At 1 April 2023 21,988
At 31 March 2024 21,988
Net book value
At 31 March 2024 -
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 77,723 28,270 105,993
At 31 March 2024 77,723 28,270 105,993
Depreciation
At 1 April 2023 63,084 28,270 91,354
Charge for the year 11,501 - 11,501
At 31 March 2024 74,585 28,270 102,855
Net book value
At 31 March 2024 3,138 - 3,138
At 31 March 2023 14,639 - 14,639
5 Debtors 2024 2023
£ £
Trade debtors 793,959 217,691
Other debtors 470 3,035
794,429 220,726
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 138,731 284,959
Trade creditors 86,732 262,736
Taxation and social security costs 148,281 70,000
Other creditors 1,098,124 1,296,934
1,471,868 1,914,629
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 65,874 162,500
The bank loan is secured against the stock held by the company.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 32,132
9 Related party transactions
The company operates from a premises owned by a director. Rent of £16,750 (2023: £19,500) was charged for the year.

The shareholders and directors have loaned the company unsecured funds to provide working capital. The loans bear interest at 0.1% above the HSBC bank base rate. The loans are repayable at a time which can be determined by the company. At the year end the company owed £1,089,632 (2023: £1,262,259).
10 Other information
Raytrade UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Woodcott House
Upper Woodcott
Whitchurch
Hampshire
RG28 7PY
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