IRIS Accounts Production v24.3.2.46 07658534 Board of Directors 1.6.23 31.5.24 31.5.24 0 0 true false true false false true false Fair value model Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 Ordinary E 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076585342023-05-31076585342024-05-31076585342023-06-012024-05-31076585342022-05-31076585342022-06-012023-05-31076585342023-05-3107658534ns15:EnglandWales2023-06-012024-05-3107658534ns14:PoundSterling2023-06-012024-05-3107658534ns10:Director12023-06-012024-05-3107658534ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3107658534ns10:SmallEntities2023-06-012024-05-3107658534ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3107658534ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3107658534ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3107658534ns10:AbridgedAccounts2023-06-012024-05-3107658534ns10:OrdinaryShareClass12023-06-012024-05-3107658534ns10:OrdinaryShareClass22023-06-012024-05-3107658534ns10:OrdinaryShareClass32023-06-012024-05-3107658534ns10:OrdinaryShareClass42023-06-012024-05-3107658534ns10:OrdinaryShareClass52023-06-012024-05-3107658534ns10:Director22023-06-012024-05-3107658534ns10:Director32023-06-012024-05-3107658534ns10:Director42023-06-012024-05-3107658534ns10:RegisteredOffice2023-06-012024-05-3107658534ns5:CurrentFinancialInstruments2024-05-3107658534ns5:CurrentFinancialInstruments2023-05-3107658534ns5:Non-currentFinancialInstruments2024-05-3107658534ns5:Non-currentFinancialInstruments2023-05-3107658534ns5:ShareCapital2024-05-3107658534ns5:ShareCapital2023-05-3107658534ns5:FurtherSpecificReserve1ComponentTotalEquity2024-05-3107658534ns5:FurtherSpecificReserve1ComponentTotalEquity2023-05-3107658534ns5:RetainedEarningsAccumulatedLosses2024-05-3107658534ns5:RetainedEarningsAccumulatedLosses2023-05-3107658534ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3107658534ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3107658534ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-05-3107658534ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-05-3107658534ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3107658534ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3107658534ns5:Secured2024-05-3107658534ns5:Secured2023-05-3107658534ns5:DeferredTaxation2023-05-3107658534ns5:DeferredTaxation2024-05-3107658534ns10:OrdinaryShareClass12024-05-3107658534ns10:OrdinaryShareClass22024-05-3107658534ns10:OrdinaryShareClass32024-05-3107658534ns10:OrdinaryShareClass42024-05-3107658534ns10:OrdinaryShareClass52024-05-31
REGISTERED NUMBER: 07658534 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

RAMA INDUSTRIES LTD

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Abridged Balance Sheet 3

Notes to the Financial Statements 5


RAMA INDUSTRIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr S S Rama
Mr J S Rama
Mrs B K Rama
Mrs K K Rama



REGISTERED OFFICE: c/o Michael Heaven & Associates Limited
47 Calthorpe Road
Edgbaston
BIRMINGHAM
West Midlands
B15 1TH



BUSINESS ADDRESS: Unit 3
Kelvin Way
WEST BROMWICH
B70 7LH



REGISTERED NUMBER: 07658534 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH




RAMA INDUSTRIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







BANKERS: NatWest Bank PLC
1 St Philips Place
Birmingham
B3 2PT



INCORPORATED: 6th June 2011

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

ABRIDGED BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,204 67,113
Investments 5 200,004 200,004
Investment property 6 1,980,000 1,980,000
2,297,208 2,247,117

CURRENT ASSETS
Debtors 40,765 214,971
Cash at bank 339,066 228,058
379,831 443,029
CREDITORS
Amounts falling due within one year 1,384,951 1,403,327
NET CURRENT LIABILITIES (1,005,120 ) (960,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,292,088

1,286,819

CREDITORS
Amounts falling due after more than one
year

7

(386,221

)

(420,257

)

PROVISIONS FOR LIABILITIES 11 (80,983 ) (47,107 )
NET ASSETS 824,884 819,455

CAPITAL AND RESERVES
Called up share capital 12 201,004 201,004
Undistributable profit and
loss account 367,544 378,462
Retained earnings 256,336 239,989
SHAREHOLDERS' FUNDS 824,884 819,455

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

ABRIDGED BALANCE SHEET - continued
31ST MAY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th February 2025 and were signed on its behalf by:





Mr S S Rama - Director


RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Rama Industries Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 15 years straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans from related parties.

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade 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.

3. EMPLOYEES AND DIRECTORS

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

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023 101,250
Additions 56,946
At 31st May 2024 158,196
DEPRECIATION
At 1st June 2023 34,137
Charge for year 6,855
At 31st May 2024 40,992
NET BOOK VALUE
At 31st May 2024 117,204
At 31st May 2023 67,113

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st June 2023
and 31st May 2024 200,004
NET BOOK VALUE
At 31st May 2024 200,004
At 31st May 2023 200,004

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Bloomsbury Glass Ltd
Registered office: United Kingdom
Nature of business: Toughening and shaping flat glass.

%
Holding

Ordinary A 100
Ordinary B 100
Ordinary C 100
Ordinary D 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023 1,980,000
Additions (10,434 )
Revaluations 10,434
At 31st May 2024 1,980,000
NET BOOK VALUE
At 31st May 2024 1,980,000
At 31st May 2023 1,980,000

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2015 (48,925 )
Valuation in 2021 390,000
Valuation in 2023 67,716
Valuation in 2024 10,434
Cost 1,560,775
1,980,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,560,775 1,571,209

The investment property was valued on an open market basis on 3rd August 2015 by Lambert Smith Hampton .

In the director's opinion the current carrying value of the investment property is reflective of the current market value.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans 260,966 297,059

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 28,199 27,919

Amounts falling due between one and two years:
Bank loans 29,394 29,027

Amounts falling due between two and five years:
Bank loans 95,861 94,171

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 260,966 297,059

9. LEASING AGREEMENTS
The amount of income received during the year in relation to operating leases was £57,100 (2023 -
£50,750).

The amount receivable as rental income in future years is as follows:

Due within one year £52,500
Due between one and two years £52,500
Due between three and five years £72,625


RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 414,420 448,176

There is an all monies fixed and floating debenture given to the bank over all assets of the company, including the investment property held. This is to cover the bank loan outstanding.

The company has also provided security for one of it's wholly owned subsidiary company's bank loans outstanding at the year end. This amounted to £22,917.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 80,983 47,107

Deferred
tax
£   
Balance at 1st June 2023 47,107
Movement 33,876
Balance at 31st May 2024 80,983

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months is recognised. The provision is measured at the salary cost payable for the period of absence.

RAMA INDUSTRIES LTD (REGISTERED NUMBER: 07658534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45,226 Ordinary A £1 45,226 45,226
45,226 Ordinary B £1 45,226 45,226
45,226 Ordinary C £1 45,226 45,226
45,226 Ordinary D £1 45,226 45,226
10,050 Ordinary E £1 10,050 10,050
10,050 Ordinary F £1 10,050 10,050
201,004 201,004

13. RELATED PARTY DISCLOSURES

As at the year end the amount due to the directors' of the company totalled £1,312,366. The loans are interest free and repayable upon demand.