Registered number
07444043
Ransome Memorials Limited
Filleted Accounts
31 December 2024
Ransome Memorials Limited
Registered number: 07444043
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 16,500 19,250
Tangible assets 4 16,925 2,482
33,425 21,732
Current assets
Stocks 2,500 2,500
Debtors 5 39,651 23,381
Cash at bank and in hand 50,532 79,478
92,683 105,359
Creditors: amounts falling due within one year 6 (113,127) (98,812)
Net current (liabilities)/assets (20,444) 6,547
Total assets less current liabilities 12,981 28,279
Creditors: amounts falling due after more than one year 7 (8,987) (13,185)
Net assets 3,994 15,094
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,993 15,093
Shareholder's funds 3,994 15,094
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
C Ransome D Ransome
Director
Approved by the board on 31 January 2025
Ransome Memorials Limited
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 55,000
At 31 December 2024 55,000
Amortisation
At 1 January 2024 35,750
Provided during the year 2,750
At 31 December 2024 38,500
Net book value
At 31 December 2024 16,500
At 31 December 2023 19,250
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 26,344 15,971 22,625 64,940
Additions - 1,358 18,990 20,348
At 31 December 2024 26,344 17,329 41,615 85,288
Depreciation
At 1 January 2024 25,859 13,974 22,625 62,458
Charge for the year 165 990 4,750 5,905
At 31 December 2024 26,024 14,964 27,375 68,363
Net book value
At 31 December 2024 320 2,365 14,240 16,925
At 31 December 2023 485 1,997 - 2,482
5 Debtors 2024 2023
£ £
Trade debtors 32,044 15,774
Other debtors 7,607 7,607
39,651 23,381
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,520 10,596
Taxation and social security costs 14,621 23,621
Other creditors 87,986 64,595
113,127 98,812
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,987 13,185
8 Controlling party
The company is controlled by the director.
9 Other information
Ransome Memorials Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 17
Bridgend Works
Bridgend
Stonehouse
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