Company registration number 12808442 (England and Wales)
RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
974,636
939,076
Current assets
-
-
Creditors: amounts falling due within one year
4
(847,601)
(597,041)
Net current liabilities
(847,601)
(597,041)
Total assets less current liabilities
127,035
342,035
Creditors: amounts falling due after more than one year
5
(127,000)
(342,000)
Net assets
35
35
Capital and reserves
Called up share capital
6
35
35

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr C S Byrom
Director
Company registration number 12808442 (England and Wales)
RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Rays Garage Supplies (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Marlborough Works, Marlborough Rd, Accrington, Lancashire, BB5 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 2).

2024
2023
Number
Number
Total
3
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
974,636
939,076
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 May 2023
939,076
Additions
35,560
At 30 April 2024
974,636
Carrying amount
At 30 April 2024
974,636
At 30 April 2023
939,076
4
Creditors: amounts falling due within one year
2024
2023
£
£
Interest free secured loan notes
208,000
156,000
Amounts owed to group undertakings
639,601
441,041
847,601
597,041
RAYS GARAGE SUPPLIES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
4
Creditors: amounts falling due within one year
(Continued)
- 4 -

The Interest free secured loan notes are secured by way of a cross guarantee provided by the company's subsidiary company, Rays Garage Supplies Limited.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Interest free secured loan notes
127,000
342,000
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
27
32
27
32
A Ordinary shares of £1 each
3
3
3
3
B Ordinary shares of £1 each
5
-
5
-
35
35
35
35
2024-04-302023-05-01falsefalsefalse31 January 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr C S ByromMr R B Marshall128084422023-05-012024-04-30128084422024-04-30128084422023-04-3012808442core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3012808442core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3012808442core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3012808442core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3012808442core:CurrentFinancialInstruments2024-04-3012808442core:CurrentFinancialInstruments2023-04-3012808442core:ShareCapital2024-04-3012808442core:ShareCapital2023-04-3012808442core:ShareCapitalOrdinaryShares2024-04-3012808442core:ShareCapitalOrdinaryShares2023-04-3012808442bus:Director12023-05-012024-04-30128084422022-05-012023-04-3012808442core:Non-currentFinancialInstruments2024-04-3012808442core:Non-currentFinancialInstruments2023-04-3012808442bus:PrivateLimitedCompanyLtd2023-05-012024-04-3012808442bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3012808442bus:FRS1022023-05-012024-04-3012808442bus:AuditExemptWithAccountantsReport2023-05-012024-04-3012808442bus:Director22023-05-012024-04-3012808442bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP