REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 17 February 2023 to 31 July 2024 |
for |
Ram Tubulars Group Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 17 February 2023 to 31 July 2024 |
for |
Ram Tubulars Group Limited |
Ram Tubulars Group Limited (Registered number: SC759217) |
Contents of the Financial Statements |
for the Period 17 February 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Ram Tubulars Group Limited |
Company Information |
for the Period 17 February 2023 to 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
27 Finlayson Street |
Fraserburgh |
Aberdeenshire |
AB43 9JQ |
Ram Tubulars Group Limited (Registered number: SC759217) |
Balance Sheet |
31 July 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Ram Tubulars Group Limited (Registered number: SC759217) |
Notes to the Financial Statements |
for the Period 17 February 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
Ram Tubulars Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable as rental income for commercial properties leased in the normal course of business, net of VAT. Income is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. |
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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
Ram Tubulars Group Limited (Registered number: SC759217) |
Notes to the Financial Statements - continued |
for the Period 17 February 2023 to 31 July 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
The commercial properties held were acquired within the current reporting period at market value and no adjustment to the valuations was considered necessary as at the financial year end. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 2,700,000 |
Share capital comprising 16,000,000 ordinary shares of £1 each was cancelled during the financial year as part of a capital reduction demerger transaction. |
£ |
Original issued share capital | 18,700,000 |
Share capital cancelled | 16,000,000 |
Closing share capital | 2,700,000 |
8. | RELATED PARTY DISCLOSURES |
During the course of the financial year, the company acquired freehold property from the company of Ram Tubulars Scotland Limited at a cost of £2.7M which was considered by the directors to be reflective of the fair market value at the time of the transactions. The properties in question are now leased back to Ram Tubulars Scotland Limited and rental income of £146,667 (Net) was charged to this company in the current financial year. As at the financial year end, the balance of debtors includes £176,000 owing by Ram Tubulars Scotland Limited and the balance of creditors includes £1,000 owing to Ram Tubulars Scotland Limited. Both balances are considered short term and repayable on demand. |
The director, Mr J.Stewart, is the ultimate controlling party of Ram Tubulars Scotland Limited. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr J Stewart. |