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REGISTERED NUMBER: 10214511 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Raynestorm Ltd

Raynestorm Ltd (Registered number: 10214511)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Raynestorm Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A V Kimitri
R D Freeman
J H Ward





REGISTERED OFFICE: C/o 16-18 South Parade
Weston-Super-Mare
North Somerset
BS23 1JN





REGISTERED NUMBER: 10214511 (England and Wales)





ACCOUNTANTS: DGL Accountancy Services Limited
Chartered Certified Accountants
35 Hen Parc Avenue
Upper Killay
Swansea
SA2 7HA

Raynestorm Ltd (Registered number: 10214511)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,626 17,216
Investments 6 80 -
37,706 17,216

CURRENT ASSETS
Stocks 327,829 263,961
Debtors 7 281,628 723,786
Cash at bank and in hand 267,455 79,634
876,912 1,067,381
CREDITORS
Amounts falling due within one year 8 230,546 248,173
NET CURRENT ASSETS 646,366 819,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,072

836,424

CREDITORS
Amounts falling due after more than
one year

9

521,557

500,685
NET ASSETS 162,515 335,739

Raynestorm Ltd (Registered number: 10214511)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 15,420 15,420
Share premium 11 430,180 430,180
Retained earnings 11 (283,085 ) (109,861 )
162,515 335,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





A V Kimitri - Director


Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Raynestorm Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, was amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - not provided
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on the going concern basis, the validity of which depends on the continued support of the company's directors, investors and other creditors. In the initial periods of trading substantial costs were incurred in developing new products. The business has seen an increase in sales in subsequent periods of trading.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 4,000
AMORTISATION
At 1 July 2023
and 30 June 2024 4,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor Computer
improvements machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 4,627 1,457 - 15,601 21,685
Additions - 1,666 23,000 3,549 28,215
At 30 June 2024 4,627 3,123 23,000 19,150 49,900
DEPRECIATION
At 1 July 2023 - 1,053 - 3,416 4,469
Charge for year - 518 3,354 3,933 7,805
At 30 June 2024 - 1,571 3,354 7,349 12,274
NET BOOK VALUE
At 30 June 2024 4,627 1,552 19,646 11,801 37,626
At 30 June 2023 4,627 404 - 12,185 17,216

The net book value of tangible fixed assets held under hire purchase at 30 June 2024 was £19,646. The depreciation provided on these assets was £3,354.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 80
NET BOOK VALUE
At 30 June 2024 80
At 30 June 2023 80

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 257,203 358,481
Other debtors 24,425 365,305
281,628 723,786

Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 4,255 4,248
Hire purchase contracts 5,831 -
Trade creditors 137,378 92,588
Taxation and social security 68,747 145,438
Other creditors 14,335 5,899
230,546 248,173

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 21,443 25,685
Hire purchase contracts 20,114 -
Other creditors 480,000 475,000
521,557 500,685

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 25,945 -
Other creditors 9,389 -
35,334 -

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2023 (109,861 ) 430,180 320,319
Deficit for the year (173,224 ) (173,224 )
At 30 June 2024 (283,085 ) 430,180 147,095

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A V Kimitri.

Raynestorm Ltd (Registered number: 10214511)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

13. OTHER DEBTORS

Other debtors as at 30 June 2023 included the sum of £334,615 in respect of an ongoing legal dispute with a supplier. The directors are not confident that this balance will be recovered, and the full amount has been written off in the financial statements for the year ended 30 June 2024.