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Registered Number: 13110658
England and Wales

 

 

 

RAYS GOLD LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Mr Nouman Ahmed Wraich
Registered Number 13110658
Registered Office 170 Clayhall Avenue
ILFORD
IG5 0LE
Accountants Accountax Advisors Limited
55 Polesworth Road
Dagenham
RM9 6AH
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Cash at bank and in hand 3,477    270 
Creditors: amount falling due within one year 3 (5,236)   (3,468)
Net current assets (1,759)   (3,198)
 
Total assets less current liabilities (1,759)   (3,198)
Net assets (1,759)   (3,198)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (1,760)   (3,199)
Shareholders' funds (1,759)   (3,198)
 


For the year ended 31 January 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 financial statements were approved by the director on 30 October 2024 and were signed by:


-------------------------------
Mr Nouman Ahmed Wraich
Director
2
General Information
RAYS GOLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13110658, registration address 170 Clayhall Avenue, ILFORD, IG5 0LE.

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 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.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


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

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 3,530    1,700 
Accrued Expenses 800    800 
Directors' Current Accounts   968 
Director: Mr Nouman Ahmed Wraich 906   
5,236    3,468 

3