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Registered number: 01367759










RAYNERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
RAYNERS LIMITED
REGISTERED NUMBER: 01367759

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,536
18,149

  
19,536
18,149

Current assets
  

Debtors: amounts falling due within one year
 5 
212,599
215,432

Cash at bank and in hand
 6 
32,288
87,323

  
244,887
302,755

Creditors: amounts falling due within one year
 7 
(164,202)
(257,812)

Net current assets
  
 
 
80,685
 
 
44,943

Total assets less current liabilities
  
100,221
63,092

  

Net assets
  
100,221
63,092


Capital and reserves
  

Called up share capital 
 8 
2,000
2,000

Profit and loss account
  
98,221
61,092

  
100,221
63,092


Page 1

 
RAYNERS LIMITED
REGISTERED NUMBER: 01367759

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S P Rayner
K D Rayner
Director
Director


Date: 28 January 2025
Date:28 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
RAYNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rayners Limited is a private Company, limited by share capital and incorporated in England and Wales. 
The Company's registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
RAYNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
10%
Motor vehicles
-
25%
Office equipment
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabiltieis like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
RAYNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
RAYNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
56,487
50,220
28,752
135,459


Additions
-
4,233
117
4,350



At 31 December 2023

56,487
54,453
28,869
139,809



Depreciation


At 1 January 2023
49,211
44,001
24,098
117,310


Charge for the year on owned assets
765
1,731
467
2,963



At 31 December 2023

49,976
45,732
24,565
120,273



Net book value



At 31 December 2023
6,511
8,721
4,304
19,536



At 31 December 2022
7,276
6,219
4,654
18,149


5.


Debtors

2023
2022
£
£


Trade debtors
212,599
215,432



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
32,288
87,323

Less: bank overdrafts
(16,676)
-

15,612
87,323


Page 6

 
RAYNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
16,676
-

Trade creditors
55,290
39,203

Corporation tax
3,384
-

Other taxation and social security
32,602
161,604

Obligations under finance lease and hire purchase contracts
-
1,305

Other creditors
53,500
53,500

Accruals and deferred income
2,750
2,200

164,202
257,812



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,000 (2022 - 2,000) Ordinary shares of £1 each
2,000
2,000



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,360 (2022 - £7,270). There was no outstanding pension liability at the year end (2022: £NIL).


10.


Related party transactions

Included within other creditors is an amount of £13,500 (2022: £13,500) relating to an amount owed to the Executors of H S Rayner, a former shareholder and director of the Company.
Included within other creditors is a loan of £13,500 (2022: £13,500) owing to K D Rayner, a director of the Company. The loan is non-interest bearing and there are no fixed rates for repayment.
Included within other creditors is a loan of £26,500 (2022: £26,500) owing to S P Rayner, a director of the Company. The loan is non-interest bearing and there are no fixed rates for repayment.


11.


Controlling party

The Company is controlled by its directors.


Page 7