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Registration number: 03797410

Raylen Associates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Raylen Associates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Raylen Associates Ltd

Company Information

Directors

R Symes

E O'Connor

Company secretary

H Symes

Registered office

Newhall, 3 The Beeches
Helsby
Frodsham
Cheshire
WA6 0QL

Accountants

Comprehensive Tax Planning
Room 9
69 Hoole Road
Chester
CH2 3NJ

 

Raylen Associates Ltd

(Registration number: 03797410)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,439,552

2,439,552

Investments

5

34,000

34,000

 

2,473,552

2,473,552

Current assets

 

Debtors

6

4,382

109,445

Cash at bank and in hand

 

285,844

95,665

 

290,226

205,110

Creditors: Amounts falling due within one year

7

(27,369)

(27,387)

Net current assets

 

262,857

177,723

Total assets less current liabilities

 

2,736,409

2,651,275

Provisions for liabilities

(23,539)

(23,539)

Net assets

 

2,712,870

2,627,736

Capital and reserves

 

Called up share capital

8

1,002

1,002

Share premium reserve

1,234,998

1,234,998

Retained earnings

1,476,870

1,391,736

Shareholders' funds

 

2,712,870

2,627,736

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

 

Raylen Associates Ltd

(Registration number: 03797410)
Balance Sheet as at 30 June 2024

.........................................
R Symes
Director

 

Raylen Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Newhall, 3 The Beeches
Helsby
Frodsham
Cheshire
WA6 0QL

These financial statements were authorised for issue by the Board on 27 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Raylen Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Raylen Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Investment properties

2024
£

At 1 July

2,439,552

At 30 June

2,439,552

5

Investments

2024
£

2023
£

Investments

34,000

34,000

Investments

£

Cost or valuation

At 1 July 2023

34,000

Provision

Carrying amount

At 30 June 2024

34,000

At 30 June 2023

34,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,400

3,105

Other debtors

1,982

106,340

 

4,382

109,445

 

Raylen Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

27,369

27,387

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,002

1,002

1,002

1,002

       

9

Dividends

2024

2023

£

£

Interim dividend of £4.918 (2023 - £9.834) per ordinary share

4,928

9,854