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REGISTERED NUMBER: 07452636 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

RUNWALES LTD

RUNWALES LTD (REGISTERED NUMBER: 07452636)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RUNWALES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: C J Yorke





REGISTERED OFFICE: 13 Trinity Square
Llandudno
CONWY
LL30 2RB





REGISTERED NUMBER: 07452636 (England and Wales)





ACCOUNTANTS: Williams Denton Cyf
Chartered Certified Accountants
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

RUNWALES LTD (REGISTERED NUMBER: 07452636)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 61,173 39,664
61,173 39,664

CURRENT ASSETS
Stocks 500 500
Debtors 103,673 66,519
Cash at bank 14,287 2,799
118,460 69,818
CREDITORS
Amounts falling due within one year 51,519 43,030
NET CURRENT ASSETS 66,941 26,788
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,114

66,452

CREDITORS
Amounts falling due after more than one
year

(41,965

)

(23,255

)

PROVISIONS FOR LIABILITIES (7,536 ) (7,536 )
NET ASSETS 78,613 35,661

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 78,513 35,561
78,613 35,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RUNWALES LTD (REGISTERED NUMBER: 07452636)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





C J Yorke - Director


RUNWALES LTD (REGISTERED NUMBER: 07452636)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

Runwales 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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RUNWALES LTD (REGISTERED NUMBER: 07452636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 28 February 2024 2,977
AMORTISATION
At 1 March 2023
and 28 February 2024 2,977
NET BOOK VALUE

At 28 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 87,841
Additions 34,499
At 28 February 2024 122,340
DEPRECIATION
At 1 March 2023 48,177
Charge for year 12,990
At 28 February 2024 61,167
NET BOOK VALUE
At 28 February 2024 61,173
At 28 February 2023 39,664

RUNWALES LTD (REGISTERED NUMBER: 07452636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2024 and 28 February 2023:

2024 2023
£    £   
C J Yorke
Balance outstanding at start of year 64,317 32,649
Amounts advanced 135,066 31,668
Amounts repaid (96,120 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,263 64,317