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REGISTERED NUMBER: 09112947 (England and Wales)














Ray Turner Energy Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Ray Turner Energy Limited (Registered number: 09112947)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Ray Turner Energy Limited

Company Information
for the Year Ended 31 July 2024







Director: Mr J H Turner





Registered office: Bank House
Broad street
Spalding
Lincolnshire
PE11 1TB





Business address: Barr Farm
Main Road
Deeping St Nicholas
Spalding
Lincolnshire
PE11 3HA





Registered number: 09112947 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Ray Turner Energy Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ray Turner Energy Limited for the year ended 31 July 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ray Turner Energy Limited in accordance with the terms of our engagement letter dated 6 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Ray Turner Energy Limited and state those matters that we have agreed to state to the director of Ray Turner Energy Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ray Turner Energy Limited and its director for our work or for this report.

It is your duty to ensure that Ray Turner Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ray Turner Energy Limited. You consider that Ray Turner Energy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ray Turner Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


15 January 2025

Ray Turner Energy Limited (Registered number: 09112947)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 867,150 912,789

Current assets
Stocks 6 86,700 36,402
Debtors 7 181,078 163,807
267,778 200,209
Creditors
Amounts falling due within one year 8 466,744 265,615
Net current liabilities (198,966 ) (65,406 )
Total assets less current liabilities 668,184 847,383

Creditors
Amounts falling due after more than one
year

9

984,224

1,064,300
Net liabilities (316,040 ) (216,917 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (316,140 ) (217,017 )
Shareholders' funds (316,040 ) (216,917 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Ray Turner Energy Limited (Registered number: 09112947)

Statement of Financial Position - continued
31 July 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 January 2025 and were signed by:





Mr J H Turner - Director


Ray Turner Energy Limited (Registered number: 09112947)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

Ray Turner Energy Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
At the end of the accounting period, the total liabilities of the company exceeded the total assets by £316,140 (2023: £217,017). The accounts have been prepared under the going concern basis, which assumes the continued support of the company's parent company and the company's bankers as well as its directors.

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

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 - 5% on reducing balance
Fixtures and fittings - 5% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Ray Turner Energy Limited (Registered number: 09112947)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. Employees and directors

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

5. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 August 2023
and 31 July 2024 1,346,512 154 1,346,666
Depreciation
At 1 August 2023 433,723 154 433,877
Charge for year 45,639 - 45,639
At 31 July 2024 479,362 154 479,516
Net book value
At 31 July 2024 867,150 - 867,150
At 31 July 2023 912,789 - 912,789

6. Stocks
2024 2023
£    £   
Stocks 86,700 36,402

Ray Turner Energy Limited (Registered number: 09112947)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 5,811 27,678
Amounts owed by group undertakings 50 50
VAT account 1,635 -
Deferred tax asset 43,465 43,465
Prepayments 130,117 92,614
181,078 163,807

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 122,010 107,903
Trade creditors 139,360 13,860
Amounts owed to group undertakings 185,845 120,990
Social security and other taxes 638 538
Pension creditor 160 87
VAT account - 6,018
Other creditors - 21
Accruals and deferred income 18,731 16,198
466,744 265,615

Included within creditors due within one year are bank loans and hire purchase contracts. These are secured on the company's assets.

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 77,784 73,139
Bank loans - 2-5 years 240,945 231,855
Bank loans 665,495 759,306
984,224 1,064,300

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 665,495 759,306

Included within creditors due more than one year are bank loans and hire purchase contracts. These are secured on the company's assets.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

Ray Turner Energy Limited (Registered number: 09112947)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


11. Related party disclosures

The company was under the control of the directors throughout the current and previous year .

During the year the company provided and received interest free short term finance from Spalding Pallets Limited, a company in which one of the directors has an interest. At the year end, the balance owed to Spalding Pallets Limited was £185,845 (2023 - £120,990).

One of the directors has given a personal guarantee over the company's total bank borrowings which at 31st July 2024 totalled £1,057,362 (2023 - £1,113,806).

Spalding Pallets Limited has provided an additional guarantee over the company's bank loan supported by a debenture. The balance on the bank loan was £1,037,551 at 31st July 2024.