REGISTERED NUMBER: 02011595 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
FOR |
RAYSUL HOLDINGS LIMITED |
REGISTERED NUMBER: 02011595 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
FOR |
RAYSUL HOLDINGS LIMITED |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Consolidated Statement of Comprehensive Income | 9 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 13 |
Company Statement of Changes in Equity | 14 |
Consolidated Cash Flow Statement | 15 |
Notes to the Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Financial Statements | 18 |
RAYSUL HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Medina House |
2 Station Avenue |
Bridlington |
East Yorkshire |
YO16 4LZ |
BANKERS: | Lloyds Bank |
1 St Nicholas Street |
Scarborough |
North Yorkshire |
YO11 2YY |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
GROUP STRATEGIC REPORT |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
The directors present their strategic report of the company and the group for the period 1 April 2023 to 30 September 2024. |
REVIEW OF BUSINESS |
During the period, the directors have continued to review their trading activities and have been selective when tendering, both with the nature of work but also with the creditworthiness of potential customers. |
The group holds a 50% interest in a property investment company. The associate company saw rental income and expenditure stabilise.The pre-tax profit from its associate is £275,435 (2023 : £185,076 excluding property revaluation). |
The group holds loans denominated in foreign currency and has seen foreign exchange gains on these loans of £34,416 (2023 loss : £29,122). |
Due to careful cost management the group is pleased to report a pre-tax profit of £485,474, (2023 : £401,242) during a period which saw bad debts totalling £57,519 (2023 : £58,710). Shareholders' funds at 31 March 2024 totalled £5,140,821 (2023 : £4,774,051). |
PRINCIPAL RISKS AND UNCERTAINTIES |
Key uncertainties regarding the group revolve around the extent that the group is affected by potential changes in the economic climate and its impact on the construction industry. The directors are positive about the recent improvement within the industry and intend to mitigate the group's risk by: |
- striving to maintain high quality and standards to engender loyalty across their customer base; |
- continual working towards efficient production to allow for competitive tendering; |
- expansion of existing customer base. |
The group has loans denominated in foreign currency and is therefore exposed to exchange rate movements. |
FUTURE DEVELOPMENTS |
The directors are to continue with their existing policies and are encouraged by the improving economic climate and feel they are in a good position as they enter the next financial year. |
ON BEHALF OF THE BOARD: |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
The directors present their report with the financial statements of the company and the group for the period 1 April 2023 to 30 September 2024. |
PRINCIPAL ACTIVITIES |
The principal activities of the group in the period under review were those of tarmacadam laying and groundworks. The group also has a direct and indirect interest in investment properties. |
DIVIDENDS |
No dividends will be distributed for the period ended 30 September 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report. |
FINANCIAL INSTRUMENTS |
The group's principal financial instruments comprise bank balances and loans, trade creditors, trade debtors, loans to the group and invoice financing. The main purpose of these instruments is to finance the group's operations. |
The group has been granted loans denominated in foreign currency and is therefore exposed to currency risk. The directors do not consider that currency risk has a material impact on the group. The group's approach to managing other risks applicable to the financial instruments is shown below. |
With regard to the bank balances, the liquidity risk is managed through the use of invoice financing of trade debtors at variable rates of interest. |
In respect of the bank loan and other loans, interest is variable based on bank base rates and paid monthly together with the capital element of the loan repayment. The group manages the liquidity risk by ensuring there are sufficient funds to meet its payment terms. |
Trade debtors are managed through the monitoring of credit risk of the individual customer and the use of credit protection insurance, where applicable. |
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet payments as they fall due. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RAYSUL HOLDINGS LIMITED |
Opinion |
We have audited the financial statements of Raysul Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for qualified opinion |
We have been unable to obtain sufficient audit evidence in respect of the recoverability and the value of an element of the work in progress due to the length of time this balance has been held and the costings provided. The work in progress which we refer to has been reduced by £570K in the year. This amount has been invoiced during the year leaving a remaining long term balance as at 30 September 2024 of £1.3M. |
We have also been unable to obtain sufficient audit evidence on £155K of the retentions due to the long term nature of these balances held as at 30 September 2024. |
Consequently, we were unable to determine whether any adjustment to these amounts were necessary. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RAYSUL HOLDINGS LIMITED |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RAYSUL HOLDINGS LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The extent to which the audit was considered capable of detecting irregularities, including fraud |
Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. |
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. |
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: |
- | obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the company operates in, including whether the group is complying with those legal and regulatory frameworks; |
- | inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; |
- | discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. |
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with relevant tax authorities and evaluating advice received from third party advisors. |
The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety, data protection and employment laws. We performed audit procedures to inquire of management whether the group is in compliance with these laws. This work included evaluating correspondence with third party consultants. |
The audit engagement team identified the risk of management override of controls and the risk of fraud in revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to; |
- | testing material journal entries throughout the year and evaluating their business rationale; |
- | reviewing key controls and account reconciliations; |
- | testing material bank transactions for business rationale; |
- | on a sample basis, reviewing authorisation procedures of business expenditure, including review of supporting documentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RAYSUL HOLDINGS LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
& Statutory Auditors |
Medina House |
2 Station Avenue |
Bridlington |
East Yorkshire |
YO16 4LZ |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONSOLIDATED |
STATEMENT OF COMPREHENSIVE |
INCOME |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
Notes | £ | £ |
TURNOVER |
Group and share of associates | 19,286,141 | 13,122,189 |
Less: |
Share of associates' turnover | (338,295 | ) | (225,728 | ) |
GROUP TURNOVER | 18,947,846 | 12,896,461 |
Cost of sales | 16,060,524 | 11,120,683 |
GROSS PROFIT | 2,887,322 | 1,775,778 |
Administrative expenses | 2,607,022 | 1,745,886 |
280,300 | 29,892 |
Other operating income | 23,400 | 15,600 |
GROUP OPERATING PROFIT | 4 | 303,700 | 45,492 |
Share of operating profit in |
Associates | 308,629 | 439,386 |
Interest receivable and similar income |
Group | 8,660 | 87 |
Joint venture | 1,037 | 331 |
9,697 | 418 |
622,026 | 485,296 |
Interest payable and similar expenses |
Group | 5 | (110,982 | ) | (66,913 | ) |
Joint venture | (25,570 | ) | (17,141 | ) |
PROFIT BEFORE TAXATION | 485,474 | 401,242 |
Tax on profit | 6 | 118,704 | 78,766 |
PROFIT FOR THE FINANCIAL PERIOD |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
366,770 |
322,476 |
Profit attributable to: |
Owners of the parent | 366,770 | 322,476 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONSOLIDATED |
STATEMENT OF COMPREHENSIVE |
INCOME |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Total comprehensive income attributable to: |
Owners of the parent | 366,770 | 322,476 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONSOLIDATED BALANCE SHEET |
30 SEPTEMBER 2024 |
30.9.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 | - | - |
Tangible assets | 9 | 1,100,317 | 1,330,056 |
Investments | 10 |
Interest in associate | 1,688,991 | 1,557,924 |
Investment property | 11 | 480,000 | 480,000 |
3,269,308 | 3,367,980 |
CURRENT ASSETS |
Stocks | 12 | 2,308,162 | 3,198,030 |
Debtors | 13 | 3,665,990 | 2,989,354 |
Cash at bank and in hand | 778,309 | 51,504 |
6,752,461 | 6,238,888 |
CREDITORS |
Amounts falling due within one year | 14 | 4,414,809 | 4,712,559 |
NET CURRENT ASSETS | 2,337,652 | 1,526,329 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,606,960 |
4,894,309 |
CREDITORS |
Amounts falling due after more than one year |
15 |
(350,000 |
) |
(21,667 |
) |
PROVISIONS FOR LIABILITIES | 18 | (116,139 | ) | (98,591 | ) |
NET ASSETS | 5,140,821 | 4,774,051 |
CAPITAL AND RESERVES |
Called up share capital | 19 | 100,000 | 100,000 |
Revaluation reserve | 20 | 238,310 | 238,310 |
Retained earnings | 20 | 4,802,511 | 4,435,741 |
SHAREHOLDERS' FUNDS | 5,140,821 | 4,774,051 |
The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by: |
N P Sullivan - Director |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
COMPANY BALANCE SHEET |
30 SEPTEMBER 2024 |
30.9.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
Investments | 10 |
Investment property | 11 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
15 |
( |
) |
PROVISIONS FOR LIABILITIES | 18 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 19 |
Revaluation reserve | 20 |
Retained earnings | 20 |
SHAREHOLDERS' FUNDS |
Company's loss for the financial year | (191,304 | ) | (140,296 | ) |
The financial statements were approved by the Board of Directors and authorised for issue on |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 | 100,000 | 4,113,265 | 238,310 | 4,451,575 |
Changes in equity |
Total comprehensive income | - | 322,476 | - | 322,476 |
Balance at 31 March 2023 | 100,000 | 4,435,741 | 238,310 | 4,774,051 |
Changes in equity |
Total comprehensive income | - | 366,770 | - | 366,770 |
Balance at 30 September 2024 | 100,000 | 4,802,511 | 238,310 | 5,140,821 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 March 2023 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 September 2024 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 965,027 | 576,658 |
Interest paid | (142,961 | ) | (66,913 | ) |
Net cash from operating activities | 822,066 | 509,745 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (173,968 | ) | (640,853 | ) |
Sale of tangible fixed assets | 94,581 | 65,195 |
Interest received | - | 87 |
Net cash from investing activities | (79,387 | ) | (575,571 | ) |
Cash flows from financing activities |
Bank loan repayments | (14,976 | ) | (10,000 | ) |
Loan to/from associated company | 34,999 | - |
Other loan repayment | (9,000 | ) | (6,000 | ) |
Introduced/(withdrawn) by directors | (26,897 | ) | - |
Net cash from financing activities | (15,874 | ) | (16,000 | ) |
Increase/(decrease) in cash and cash equivalents | 726,805 | (81,826 | ) |
Cash and cash equivalents at beginning of period |
2 |
51,504 |
133,330 |
Cash and cash equivalents at end of period |
2 |
778,309 |
51,504 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Profit before taxation | 485,474 | 401,242 |
Depreciation charges | 277,738 | 166,340 |
Loss on disposal of fixed assets | 31,388 | 2,681 |
Operating profit in associate | (308,629 | ) | (439,386 | ) |
Foreign exchange rate non cash movement | (35,240 | ) | 28,709 |
Finance costs | 136,552 | 84,054 |
Finance income | (9,697 | ) | (418 | ) |
577,586 | 243,222 |
Decrease in stocks | 889,868 | 289,518 |
(Increase)/decrease in trade and other debtors | (259,315 | ) | 269,987 |
Decrease in trade and other creditors | (243,112 | ) | (226,069 | ) |
Cash generated from operations | 965,027 | 576,658 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 30 September 2024 |
30.9.24 | 1.4.23 |
£ | £ |
Cash and cash equivalents | 778,309 | 51,504 |
Year ended 31 March 2023 |
31.3.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 51,504 | 133,330 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.23 | Cash flow | At 30.9.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 51,504 | 726,805 | 778,309 |
51,504 | 726,805 | 778,309 |
Debt |
Debts falling due within 1 year | (10,000 | ) | (6,691 | ) | (16,691 | ) |
Debts falling due after 1 year | (21,667 | ) | 21,667 | - |
(31,667 | ) | 14,976 | (16,691 | ) |
Total | 19,837 | 741,781 | 761,618 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Raysul Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 September, previously 31 March. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. Acquisitions are accounted for under the acquisition method. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Significant judgements and estimates |
In the application of the group's accounting policies, which are described further in this note, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Key sources of estimation and uncertainty |
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. |
Useful economic lives of tangible assets |
The annual amortisation and depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See the notes to the financial statements for the carrying amount of the property, plant and equipment and the useful economic lives of each class of assets. |
Stock and work in progress provisioning |
The group operates within the construction and civil engineering sector. As a result it is necessary to consider the recoverability of the cost of stock and work in progress and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, the age and completion of the work in progress, as well as applying assumptions around anticipated stage of completion of each job and agreed contract value. |
Impairment of debtors |
The group makes an estimate of the recoverable value of trade debtors and retentions. When assessing impairment of trade debtors and retentions, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. |
Turnover |
Turnover represents supply of surfacing and groundworks, duly adjusted for work in progress at the year end, measured at fair value, net of discounts and value added tax. |
Goodwill |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 period 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. |
Contract work in progress |
Amounts recoverable on contracts are stated at cost plus attributable profits less provision for any known or anticipated losses and payments on accounts. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group has implemented automatic enrolment into a workplace pension scheme in relation to all employees. |
All contributions payable for the year are charged to the statement of comprehensive income. |
Fixed asset investments |
Fixed asset investments are valued at cost following transition to FRS 102. |
Associates |
In the group financial statements investments in associate are accounted for using the equity method. The consolidated profit and loss account includes the group's share of associates' profit less losses while the group's share of the net assets of the associates is shown in the consolidated balance sheet. |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
3. | EMPLOYEES AND DIRECTORS |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Wages and salaries | 2,292,710 | 1,762,774 |
Social security costs | 244,408 | 205,013 |
Other pension costs | 83,326 | 46,300 |
2,620,444 | 2,014,087 |
The average number of employees during the period was as follows: |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
Direct labourers | 42 | 36 |
Office and management | 7 | 7 |
Directors | 2 | 2 |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Directors' remuneration | 23,812 | 15,061 |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Hire of plant and machinery | 1,748,231 | 1,166,886 |
Depreciation - owned assets | 277,738 | 166,340 |
Loss on disposal of fixed assets | 31,388 | 2,681 |
Auditors' remuneration | 32,595 | 16,981 |
Other non- audit services | 61,646 | 38,975 |
Foreign exchange differences | (34,416 | ) | 29,122 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Loan interest | 93,662 | 66,913 |
Other loan interest | 17,320 | - |
110,982 | 66,913 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Current tax: |
UK corporation tax | 31,788 | - |
Associates corporation tax | 69,368 | 94,586 |
Total current tax | 101,156 | 94,586 |
Deferred tax | 17,548 | (15,820 | ) |
Tax on profit | 118,704 | 78,766 |
UK corporation tax has been charged at 25 % (2023 - 19 %). |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
6. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
Period |
1.4.23 |
to | Year ended |
30.9.24 | 31.3.23 |
£ | £ |
Profit before tax | 485,474 | 401,242 |
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19 %) |
121,369 |
76,236 |
Effects of: |
Expenses not deductible for tax purposes | - | 327 |
Capital allowances in excess of depreciation | - | (11,825 | ) |
Depreciation in excess of capital allowances | 11,709 | - |
Utilisation of tax losses | (32,431 | ) | 15,551 |
Deferred taxation | 17,548 | (15,820 | ) |
Adjustment to effective rate of associates corporation/deferred tax | 509 | 14,297 |
differences |
Total tax charge | 118,704 | 78,766 |
7. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
8. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 30 September 2024 | 98,000 |
AMORTISATION |
At 1 April 2023 |
and 30 September 2024 | 98,000 |
NET BOOK VALUE |
At 30 September 2024 | - |
At 31 March 2023 | - |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
9. | TANGIBLE FIXED ASSETS |
Group |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 April 2023 | 170,818 | 1,398,870 | 13,342 |
Additions | 6,400 | 2,750 | - |
Disposals | - | (290,159 | ) | - |
At 30 September 2024 | 177,218 | 1,111,461 | 13,342 |
DEPRECIATION |
At 1 April 2023 | 133,757 | 683,869 | 10,110 |
Charge for period | 8,815 | 138,858 | 1,616 |
Eliminated on disposal | - | (189,552 | ) | - |
At 30 September 2024 | 142,572 | 633,175 | 11,726 |
NET BOOK VALUE |
At 30 September 2024 | 34,646 | 478,286 | 1,616 |
At 31 March 2023 | 37,061 | 715,001 | 3,232 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 | 754,572 | 71,381 | 2,408,983 |
Additions | 163,960 | 858 | 173,968 |
Disposals | (32,460 | ) | (3,800 | ) | (326,419 | ) |
At 30 September 2024 | 886,072 | 68,439 | 2,256,532 |
DEPRECIATION |
At 1 April 2023 | 180,299 | 70,892 | 1,078,927 |
Charge for period | 127,777 | 672 | 277,738 |
Eliminated on disposal | (7,098 | ) | (3,800 | ) | (200,450 | ) |
At 30 September 2024 | 300,978 | 67,764 | 1,156,215 |
NET BOOK VALUE |
At 30 September 2024 | 585,094 | 675 | 1,100,317 |
At 31 March 2023 | 574,273 | 489 | 1,330,056 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
10. | FIXED ASSET INVESTMENTS |
Group |
Interest |
in |
associate |
£ |
COST |
At 1 April 2023 | 1,557,924 |
Additions | 131,067 |
At 30 September 2024 | 1,688,991 |
NET BOOK VALUE |
At 30 September 2024 | 1,688,991 |
At 31 March 2023 | 1,557,924 |
Interest in associate |
The group's aggregate share of associates at the period end is as follows: |
30.9.24 | 31.3.23 |
£ | £ |
Profit before tax | 275,435 | 422,577 |
Taxation | (69,368 | ) | (94,586 | ) |
Profit after tax | 206,067 | 327,991 |
Share of assets |
Fixed assets | 2,137,500 | 2,137,500 |
Current assets | 113,898 | 113,716 |
Share of liabilities |
Share of liabilities due within one year | (155,826 | ) | (130,143 | ) |
Share of liabilities due after one year or more | (406,581 | ) | (563,149 | ) |
Share of net assets | 1,688,991 | 1,557,924 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
Group |
BDS Properties (Yorkshire) Limited |
The group's share of BDS Properties (Yorkshire) Limited is as follows: |
30.9.24 | 31.3.23 |
£ | £ |
Turnover | 338,295 | 225,728 |
Profit before tax | 275,435 | 422,577 |
Taxation | (69,368 | ) | (94,586 | ) |
Profit after tax | 206,067 | 327,991 |
Share of assets |
Fixed assets | 2,137,500 | 2,137,500 |
Current assets | 113,898 | 113,716 |
Share of liabilities |
Liabilities due within one year | (155,826 | ) | (130,143 | ) |
Liabilities due after one year or more | (406,581 | ) | (563,149 | ) |
Share of net assets | 1,688,991 | 1,557,924 |
Company |
Unlisted |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
Shares in group undertakings are included at cost. |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
10. | FIXED ASSET INVESTMENTS - continued |
Company |
Registered office: Unit 55 Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ |
Nature of business: |
% |
Class of shares: | holding |
30.9.24 | 31.3.23 |
£ | £ |
Aggregate capital and reserves |
Profit for the period/year |
Registered office: Unit 55 Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ |
Nature of business: |
% |
Class of shares: | holding |
30.9.24 | 31.3.23 |
£ | £ |
Aggregate capital and reserves |
Associated company |
Registered office: 34 Falsgrave Road, Scarborough, North Yorkshire, YO12 5AT |
Nature of business: |
% |
Class of shares: | holding |
30.9.24 | 31.3.23 |
£ | £ |
Aggregate capital and reserves |
Profit for the period/year |
11. | INVESTMENT PROPERTY |
Group |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 30 September 2024 | 480,000 |
NET BOOK VALUE |
At 30 September 2024 | 480,000 |
At 31 March 2023 | 480,000 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
11. | INVESTMENT PROPERTY - continued |
Group |
Fair value at 30 September 2024 is represented by: |
£ |
Valuation in 2010 | 76,334 |
Valuation in 2017 | 100,000 |
Valuation in 2020 | 50,000 |
Valuation in 2021 | 58,800 |
Valuation in 2022 | 5,000 |
Cost | 189,866 |
480,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.9.24 | 31.3.23 |
£ | £ |
Cost | 189,866 | 189,866 |
Investment property was valued on fair value basis on 30 September 2024 by the directors . |
Company |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
Fair value at 30 September 2024 is represented by: |
£ |
Valuation in 2010 | 76,334 |
Valuation in 2017 | 100,000 |
Valuation in 2020 | 50,000 |
Valuation in 2021 | 58,800 |
Valuation in 2022 | 5,000 |
Cost | 189,866 |
480,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.9.24 | 31.3.23 |
£ | £ |
Cost | 189,866 | 189,866 |
Investment property was valued on fair value basis on 30 September 2024 by the directors . |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
12. | STOCKS |
Group |
30.9.24 | 31.3.23 |
£ | £ |
Raw materials and consumables | 637,029 | 614,256 |
Work-in-progress | 1,671,133 | 2,583,774 |
2,308,162 | 3,198,030 |
13. | DEBTORS |
Group | Company |
30.9.24 | 31.3.23 | 30.9.24 | 31.3.23 |
£ | £ | £ | £ |
Amounts falling due within one year: |
Trade debtors | 1,834,771 | 1,856,309 |
Retentions | 18,327 | - | - | - |
Amounts owed by group undertakings | - | - |
Amounts owed by associates | 117,321 | 50,000 |
VAT | 154,958 | 106,616 |
Prepayments and accrued income | 258,275 | 88,442 |
2,383,652 | 2,101,367 |
Amounts falling due after more than one | year: |
Retentions | 932,338 | 887,987 | - | - |
Amounts owed by associates | 350,000 | - |
1,282,338 | 887,987 |
Aggregate amounts | 3,665,990 | 2,989,354 |
Retentions do not fall due until up to 38 months after completion of the relevant contract. |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
30.9.24 | 31.3.23 | 30.9.24 | 31.3.23 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 16) | 16,691 | 10,000 |
Trade creditors | 2,019,590 | 1,737,667 |
Corporation tax | 31,788 | - |
Social security and other taxes | 24,048 | 38,969 |
VAT | - | - | - | 82 |
Factoring account | 53,727 | 622,544 |
Amounts due to related |
undertakings | 1,416,319 | 1,394,239 | 1,288,626 | 1,221,546 |
Directors' current accounts | 29,103 | 56,000 | - | - |
Accrued expenses | 823,543 | 853,140 |
4,414,809 | 4,712,559 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
30.9.24 | 31.3.23 | 30.9.24 | 31.3.23 |
£ | £ | £ | £ |
Bank loans (see note 16) | - | 21,667 |
Amounts due to related |
undertakings | 350,000 | - | 350,000 | - |
350,000 | 21,667 |
16. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
30.9.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year or on | demand: |
Bank loans | 16,691 | 10,000 |
Amounts falling due between one and two | years: |
Bank loans - 1-2 years | - | 10,000 |
Amounts falling due between two and five | years: |
Bank loans - 2-5 years | - | 11,667 |
The bank loan is repayable in 60 instalments which commenced June 2021. Interest is charged at 2.5%. |
This loan was fully repaid on 2 October 2024. |
17. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group |
30.9.24 | 31.3.23 |
£ | £ |
Factoring account | 53,727 | 622,544 |
The factoring account is secured by a legal charge over all assets of the group. |
18. | PROVISIONS FOR LIABILITIES |
Group | Company |
30.9.24 | 31.3.23 | 30.9.24 | 31.3.23 |
£ | £ | £ | £ |
Deferred tax | 116,139 | 98,591 | 51,824 | 51,824 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
18. | PROVISIONS FOR LIABILITIES - continued |
Group |
Deferred |
tax |
£ |
Balance at 1 April 2023 | 98,591 |
Advance capital allowances | 17,548 |
Balance at 30 September 2024 | 116,139 |
Company |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Balance at 30 September 2024 |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
20. | RESERVES |
Group |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | 4,435,741 | 238,310 | 4,674,051 |
Profit for the period | 366,770 | - | 366,770 |
At 30 September 2024 | 4,802,511 | 238,310 | 5,040,821 |
Company |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | 1,165,628 |
Deficit for the period | ( |
) | - | ( |
) |
At 30 September 2024 | 974,324 |
RAYSUL HOLDINGS LIMITED (REGISTERED NUMBER: 02011595) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
21. | ULTIMATE PARENT COMPANY |
The ultimate holding companies are Al-Rawahy Holdings LLC, a company registered in Oman and Sulair Holdings Limited, a company incorporated in England and Wales. Both of these companies hold a 50% interest in Raysul Holdings Limited, the parent company to BDS (Yorkshire) Limited. |
22. | RELATED PARTY DISCLOSURES |
The company is controlled by its directors. |
During the period, a total of key management personnel compensation of £ 23,822 (2023 - £ 15,083 ) was paid. |
This amount is in relation to the directors. |