REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Racking Group Holdings Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Racking Group Holdings Ltd |
Racking Group Holdings Ltd (Registered number: 14300149) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Racking Group Holdings Ltd |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
Racking Group Holdings Ltd (Registered number: 14300149) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
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. |
Racking Group Holdings Ltd (Registered number: 14300149) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Racking Group Holdings Ltd (Registered number: 14300149) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Racking Group Holdings Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Racking Group Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
In the accounts of Racking Group Holdings Ltd investments held as fixed assets are stated at cost less any provision for permanent diminution in value. |
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. |
Accounting period |
The previous accounting period covered a total of 319 days. |
Racking Group Holdings Ltd (Registered number: 14300149) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: England & Wales |
Nature of business: |
% |
Class of shares: | holding |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Accruals and deferred income |
Racking Group Holdings Ltd (Registered number: 14300149) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | as restated |
£ | £ |
Ordinary A | £1 | 1,700,100 | 1,700,100 |
9. | CAPITAL COMMITMENTS |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Contracted but not provided for in the |
financial statements |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 30 June 2024 and the period ended 30 June 2023: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | RELATED PARTY DISCLOSURES |
Loans from group undertakings are unsecured and interest free with no specific repayment terms. |
In the period under review the company received interim dividends of £395,000 from a wholly owned subsidiary. |