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REGISTERED NUMBER: 12732174 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 July 2024

for

RAUNDS CARS LTD

RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)






Contents of the Financial Statements
for the year ended 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAUNDS CARS LTD

Company Information
for the year ended 31 JULY 2024







DIRECTORS: M A Boes
A V Boes





REGISTERED OFFICE: Unit 8 Newbarn Farm
Brick Kiln Road
Raunds
Northamptonshire
NN9 6HY





REGISTERED NUMBER: 12732174 (England and Wales)





ACCOUNTANTS: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,257 16,875

CURRENT ASSETS
Stocks 5 20,295 23,126
Debtors 6 3,081 1,264
Cash at bank 210 1,946
23,586 26,336
CREDITORS
Amounts falling due within one year 7 121,967 106,182
NET CURRENT LIABILITIES (98,381 ) (79,846 )
TOTAL ASSETS LESS CURRENT LIABILITIES (87,124 ) (62,971 )

PROVISIONS FOR LIABILITIES 2,139 2,181
NET LIABILITIES (89,263 ) (65,152 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (89,363 ) (65,252 )
(89,263 ) (65,152 )

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

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

RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)

Balance Sheet - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





M A Boes - Director


RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)

Notes to the Financial Statements
for the year ended 31 JULY 2024

1. STATUTORY INFORMATION

Raunds Cars Ltd 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.
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Taxation
Taxation for the year 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 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.

RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)

Notes to the Financial Statements - continued
for the year ended 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The company has managed to reduce its direct costs in an effort to improve its profitability.

The directors have noted the excess of liabilities over assets at the balance sheet date. Based on the review undertaken and their continued support, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 24,694 3,398 28,092
DEPRECIATION
At 1 August 2023 9,864 1,353 11,217
Charge for year 4,939 679 5,618
At 31 July 2024 14,803 2,032 16,835
NET BOOK VALUE
At 31 July 2024 9,891 1,366 11,257
At 31 July 2023 14,830 2,045 16,875

5. STOCKS
2024 2023
£    £   
Stocks 20,295 23,126

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,400 -
Other debtors 1,681 1,264
3,081 1,264

RAUNDS CARS LTD (REGISTERED NUMBER: 12732174)

Notes to the Financial Statements - continued
for the year ended 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,407 15,949
Trade creditors 2,939 -
Taxation and social security 4,977 5,803
Other creditors 111,644 84,430
121,967 106,182