Registered number
04354544
Ratherheath Lane Ltd
Unaudited Filleted Accounts
For the Year Ended
29 February 2024
Ratherheath Lane Ltd
Registered number: 04354544
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,443 11,904
Current assets
Stocks 12,000 -
Debtors 4 2,384 2,138
Cash at bank and in hand 85,234 90,851
99,618 92,989
Creditors: amounts falling due within one year 5 (102,908) (75,236)
Net current (liabilities)/assets (3,290) 17,753
Total assets less current liabilities 6,153 29,657
Provisions for liabilities (1,794) (2,262)
Net assets 4,359 27,395
Capital and reserves
Called up share capital 4 4
Profit and loss account 4,355 27,391
Shareholders' funds 4,359 27,395
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.
D J Wilson
Director
Approved by the board on 12 November 2024
Ratherheath Lane Ltd
Notes to the Accounts
for the year ended 29 February 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).
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.
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 15% reducing balance
Tools and equipment 10% reducing balance
Office equipment over 3 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 14,207 31,828 46,035
Additions 579 - 579
At 29 February 2024 14,786 31,828 46,614
Depreciation
At 1 March 2023 12,373 21,758 34,131
Charge for the year 523 2,517 3,040
At 29 February 2024 12,896 24,275 37,171
Net book value
At 29 February 2024 1,890 7,553 9,443
At 28 February 2023 1,834 10,070 11,904
4 Debtors 2024 2023
£ £
Other debtors 2,384 2,138
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,612 -
Corporation tax 7,144 11,573
Other creditors 94,152 63,663
102,908 75,236
6 Other information
Ratherheath Lane Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Chain House
Bonningate
Kendal
Cumbria
LA8 8JU
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