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Company registration number: 11390431
Ralston Bros Limited
Unaudited financial statements
31 March 2024
Ralston Bros Limited
Contents
Statement of financial position
Notes to the financial statements
Ralston Bros Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 1,017,532 1,017,532
Debtors 5 633 417
Cash at bank and in hand 10,134 33,302
_______ _______
1,028,299 1,051,251
Creditors: amounts falling due
within one year 6 ( 320,409) ( 353,698)
_______ _______
Net current assets 707,890 697,553
_______ _______
Total assets less current liabilities 707,890 697,553
Creditors: amounts falling due
after more than one year 7 ( 636,930) ( 652,715)
_______ _______
Net assets 70,960 44,838
_______ _______
Capital and reserves
Called up share capital 8 102 102
Profit and loss account 70,858 44,736
_______ _______
Shareholders funds 70,960 44,838
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Mr C B Ralston
Director
Company registration number: 11390431
Ralston Bros Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and the business address is 21 Brindley Road, Dodwells Bridge Industrial Estate, Hinckley, Leicestershire, LE10 3BY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity and have been rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Debtors
2024 2023
£ £
Other debtors 633 417
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 15,785 15,447
Trade creditors - 20
Amounts owed to group undertakings and undertakings in which the company has a participating interest 292,900 327,900
Corporation tax 9,708 8,411
Other creditors 2,016 1,920
_______ _______
320,409 353,698
_______ _______
Included within creditors is a bank loan totalling £15,785 (2023: £15,447). This is secured on property that is being held for sale by the company.
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loan 636,930 652,715
_______ _______
Included within creditors is a bank loan totalling £636,930 (2023: £652,715).This is secured on property that is being held for sale by the company.
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 102 102 102 102
_______ _______ _______ _______