Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31712023-04-01false73falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03960801 2023-04-01 2024-03-31 03960801 2022-04-01 2023-03-31 03960801 2024-03-31 03960801 2023-03-31 03960801 c:CompanySecretary1 2023-04-01 2024-03-31 03960801 c:Director1 2023-04-01 2024-03-31 03960801 c:Director3 2023-04-01 2024-03-31 03960801 c:Director5 2023-04-01 2024-03-31 03960801 c:Director6 2023-04-01 2024-03-31 03960801 c:RegisteredOffice 2023-04-01 2024-03-31 03960801 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 03960801 d:Buildings d:ShortLeaseholdAssets 2024-03-31 03960801 d:Buildings d:ShortLeaseholdAssets 2023-03-31 03960801 d:PlantMachinery 2023-04-01 2024-03-31 03960801 d:PlantMachinery 2024-03-31 03960801 d:PlantMachinery 2023-03-31 03960801 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03960801 d:MotorVehicles 2023-04-01 2024-03-31 03960801 d:MotorVehicles 2024-03-31 03960801 d:MotorVehicles 2023-03-31 03960801 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03960801 d:FurnitureFittings 2023-04-01 2024-03-31 03960801 d:FurnitureFittings 2024-03-31 03960801 d:FurnitureFittings 2023-03-31 03960801 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03960801 d:OfficeEquipment 2023-04-01 2024-03-31 03960801 d:OfficeEquipment 2024-03-31 03960801 d:OfficeEquipment 2023-03-31 03960801 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03960801 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03960801 d:Goodwill 2023-04-01 2024-03-31 03960801 d:Goodwill 2024-03-31 03960801 d:Goodwill 2023-03-31 03960801 d:CurrentFinancialInstruments 2024-03-31 03960801 d:CurrentFinancialInstruments 2023-03-31 03960801 d:Non-currentFinancialInstruments 2024-03-31 03960801 d:Non-currentFinancialInstruments 2023-03-31 03960801 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03960801 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03960801 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03960801 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03960801 d:ShareCapital 2024-03-31 03960801 d:ShareCapital 2023-03-31 03960801 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 03960801 d:CapitalRedemptionReserve 2024-03-31 03960801 d:CapitalRedemptionReserve 2023-03-31 03960801 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03960801 d:RetainedEarningsAccumulatedLosses 2024-03-31 03960801 d:RetainedEarningsAccumulatedLosses 2023-03-31 03960801 c:OrdinaryShareClass1 2023-04-01 2024-03-31 03960801 c:OrdinaryShareClass1 2024-03-31 03960801 c:OrdinaryShareClass2 2023-04-01 2024-03-31 03960801 c:OrdinaryShareClass2 2024-03-31 03960801 c:OrdinaryShareClass3 2023-04-01 2024-03-31 03960801 c:OrdinaryShareClass3 2024-03-31 03960801 c:FRS102 2023-04-01 2024-03-31 03960801 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03960801 c:FullAccounts 2023-04-01 2024-03-31 03960801 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03960801 d:WithinOneYear 2024-03-31 03960801 d:WithinOneYear 2023-03-31 03960801 d:BetweenOneFiveYears 2024-03-31 03960801 d:BetweenOneFiveYears 2023-03-31 03960801 2 2023-04-01 2024-03-31 03960801 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03960801 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03960801 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 03960801 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03960801










RAVENSCROFT MOTOR COMPANY LIMITED

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2024
 






 



 







img6417.png


 
RAVENSCROFT MOTOR COMPANY LIMITED
 

COMPANY INFORMATION


Directors
Mr R G Constable 
Mrs H J Constable 
Mr S Ravenscroft 
Mr G H Aitkins 




Company secretary
Mr R G Constable



Registered number
03960801



Registered office
Albany House
Claremont Lane

Esher

Surrey

KT10 9FQ




Accountants
Wellden Turnbull Limited
Chartered Accountants

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
RAVENSCROFT MOTOR COMPANY LIMITED
 

CONTENTS



Page
Balance sheet
 
 
1 - 2
Notes to the financial statements
 
 
3 - 11


 
RAVENSCROFT MOTOR COMPANY LIMITED
REGISTERED NUMBER:03960801

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
                                                                 Note
£
£

Fixed assets
  

Intangible assets
 3 
18,958
21,458

Tangible assets
 4 
1,844,772
1,471,286

  
1,863,730
1,492,744

Current assets
  

Stocks
 5 
23,848
24,550

Debtors: amounts falling due within one year
 6 
630,511
531,088

Cash at bank and in hand
  
2,957,306
2,229,786

  
3,611,665
2,785,424

Creditors: amounts falling due within one year
 7 
(1,281,435)
(1,216,556)

Net current assets
  
 
 
2,330,230
 
 
1,568,868

Total assets less current liabilities
  
4,193,960
3,061,612

Creditors: amounts falling due after more than one year
 8 
(99,985)
(78,839)

Provisions for liabilities
  

Deferred tax
 9 
(335,703)
(192,064)

  
 
 
(335,703)
 
 
(192,064)

Net assets
  
3,758,272
2,790,709


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Capital redemption reserve
 11 
2,500
2,500

Profit and loss account
 11 
3,745,772
2,778,209

Shareholders' funds
  
3,758,272
2,790,709


Page 1

 
RAVENSCROFT MOTOR COMPANY LIMITED
REGISTERED NUMBER:03960801

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr R G Constable
Director

Date: 5 February 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
RAVENSCROFT MOTOR COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ravenscroft Motor Company Limited is a private company, limited by shares, incorporated in England and Wales, registration number 03960801. The address of the registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ. The Company's principal place of business is M3 Fleet Service Area Southbound, Fleet, Hampshire, GU51 1AA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS102. There were no material departures from that standard.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RAVENSCROFT MOTOR COMPANY LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over lease term
Plant and machinery
-
7 - 100% straight line
Motor vehicles
-
10 - 50% straight line
Fixtures and fittings
-
14 - 50% straight line
Office equipment
-
20 - 100% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
RAVENSCROFT MOTOR COMPANY LIMITED
 

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

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term 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.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.
 
Page 5

 
RAVENSCROFT MOTOR COMPANY LIMITED
 

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

2.Accounting policies (continued)

  
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



.


Employees

The average monthly number of employees, including directors, during the year was 71 (2023 - 73).

Page 6

 
RAVENSCROFT MOTOR COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
728,671



At 31 March 2024

728,671



Amortisation


At 1 April 2023
707,213


Charge for the year on owned assets
2,500



At 31 March 2024

709,713



Net book value



At 31 March 2024
18,958



At 31 March 2023
21,458



Page 7

 

RAVENSCROFT MOTOR COMPANY LIMITED
 
 
 

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


4.


Tangible fixed assets






Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
558,140
4,069,788
67,460
208,698
71,892
4,975,978


Additions
-
678,866
63,810
70,677
5,210
818,563


Disposals
-
(200,364)
(19,375)
-
-
(219,739)



At 31 March 2024

558,140
4,548,290
111,895
279,375
77,102
5,574,802



Depreciation


At 1 April 2023
473,519
2,786,337
56,206
128,648
59,980
3,504,690


Charge for the year on owned assets
29,831
369,034
5,588
29,469
6,407
440,329


Disposals
-
(200,364)
(14,625)
-
-
(214,989)



At 31 March 2024

503,350
2,955,007
47,169
158,117
66,387
3,730,030



Net book value



At 31 March 2024
54,790
1,593,283
64,726
121,258
10,715
1,844,772



At 31 March 2023
84,621
1,283,450
11,253
80,050
11,912
1,471,286

Page 8

 
RAVENSCROFT MOTOR COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
23,848
24,550



6.


Debtors

2024
2023
£
£


Trade debtors
449,041
430,006

Other debtors
12,642
2,752

Prepayments and accrued income
168,828
98,330

630,511
531,088



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
345,197
383,920

Corporation tax
273,566
185,075

Other taxation and social security
310,785
272,968

Obligations under finance lease and hire purchase contracts
21,531
21,028

Other creditors
90,775
96,077

Accruals and deferred income
239,581
257,488

1,281,435
1,216,556


Amounts due under finance lease and hire purchase contracts are secured over the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
14,635
36,164

Accruals and deferred income
85,350
42,675

99,985
78,839


Page 9

 
RAVENSCROFT MOTOR COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(192,064)


Deferred tax
(143,639)



At end of year
(335,703)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(335,703)
(192,064)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



21,568 A Ordinary shares of £0.20 each
4,314
4,314
21,245 B Ordinary shares of £0.20 each
4,249
4,249
7,187 C Ordinary shares of £0.20 each
1,437
1,437

10,000

10,000


The A, B and C Ordinary shares rank pari passu except that dividends may be declared on one class of share and not on the others.



11.


Reserves

Capital redemption reserve

Represents the nominal value of own shares purchased by the Company.

Profit and loss account

Includes all current and prior period retained profits and losses. 

Page 10

 
RAVENSCROFT MOTOR COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
25,346
66,913

Later than 1 year and not later than 5 years
16,819
32,915

42,165
99,828


Page 11