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REGISTERED NUMBER: 09844132 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

RAGS & BERTS LIMITED

RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAGS & BERTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs J E O'Gorman
J P O'Gorman





SECRETARY: J P O'Gorman





REGISTERED OFFICE: 25 Loverock Road
Reading
Berkshire
RG30 1DZ





REGISTERED NUMBER: 09844132 (England and Wales)

RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,567 119,639

CURRENT ASSETS
Debtors 5 93,664 58,118
Cash at bank and in hand 40,403 137,489
134,067 195,607
CREDITORS
Amounts falling due within one year 6 85,238 103,887
NET CURRENT ASSETS 48,829 91,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,396

211,359

CREDITORS
Amounts falling due after more than one
year

7

13,890

19,937
NET ASSETS 154,506 191,422

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 154,406 191,322
154,506 191,422

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)

BALANCE SHEET - continued
31 MAY 2024


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

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 26 February 2025 and were signed on its behalf by:





Mrs J E O'Gorman - Director


RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)

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

1. STATUTORY INFORMATION

Rags & Berts Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Improvement to property 10 % Straight Line
Computer Equipment 33 % Straight Line
Fixture and Fittings 15 % Reducing Balance
Motor Vehicles20 % Straight Line
Plant and Machinery 15 % Reducing Balance

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.

RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 64,318 111,955 45,414
Additions 15,694 2,924 -
At 31 May 2024 80,012 114,879 45,414
DEPRECIATION
At 1 June 2023 27,128 71,408 29,231
Charge for year 6,204 5,591 2,305
At 31 May 2024 33,332 76,999 31,536
NET BOOK VALUE
At 31 May 2024 46,680 37,880 13,878
At 31 May 2023 37,190 40,547 16,183

RAGS & BERTS LIMITED (REGISTERED NUMBER: 09844132)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 39,940 4,678 266,305
Additions 490 895 20,003
At 31 May 2024 40,430 5,573 286,308
DEPRECIATION
At 1 June 2023 16,648 2,236 146,651
Charge for year 4,782 1,208 20,090
At 31 May 2024 21,430 3,444 166,741
NET BOOK VALUE
At 31 May 2024 19,000 2,129 119,567
At 31 May 2023 23,292 2,442 119,654

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 78 2,158
Other debtors 93,586 55,960
93,664 58,118

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 11,447 15,192
Trade creditors 14,475 9,868
Taxation and social security 31,968 65,082
Other creditors 27,348 13,745
85,238 103,887

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 13,890 19,937