8 8 Robin Rainey and Sons Limited NI036098 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the manufacture and supply of animal feeds Digita Accounts Production Advanced 6.30.9574.0 true NI036098 2023-07-01 2024-06-30 NI036098 2024-06-30 NI036098 bus:OrdinaryShareClass1 2024-06-30 NI036098 core:CurrentFinancialInstruments 2024-06-30 NI036098 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 NI036098 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 NI036098 core:FurnitureFittingsToolsEquipment 2024-06-30 NI036098 core:MotorVehicles 2024-06-30 NI036098 core:OtherPropertyPlantEquipment 2024-06-30 NI036098 bus:SmallEntities 2023-07-01 2024-06-30 NI036098 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI036098 bus:FilletedAccounts 2023-07-01 2024-06-30 NI036098 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI036098 bus:RegisteredOffice 2023-07-01 2024-06-30 NI036098 bus:Director1 2023-07-01 2024-06-30 NI036098 bus:Director2 2023-07-01 2024-06-30 NI036098 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 NI036098 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI036098 core:CommercialMotorVehicles 2023-07-01 2024-06-30 NI036098 core:FurnitureFittings 2023-07-01 2024-06-30 NI036098 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI036098 core:MotorVehicles 2023-07-01 2024-06-30 NI036098 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 NI036098 core:PlantMachinery 2023-07-01 2024-06-30 NI036098 countries:NorthernIreland 2023-07-01 2024-06-30 NI036098 2023-06-30 NI036098 core:FurnitureFittingsToolsEquipment 2023-06-30 NI036098 core:MotorVehicles 2023-06-30 NI036098 core:OtherPropertyPlantEquipment 2023-06-30 NI036098 2022-07-01 2023-06-30 NI036098 2023-06-30 NI036098 bus:OrdinaryShareClass1 2023-06-30 NI036098 core:CurrentFinancialInstruments 2023-06-30 NI036098 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 NI036098 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 NI036098 core:FurnitureFittingsToolsEquipment 2023-06-30 NI036098 core:MotorVehicles 2023-06-30 NI036098 core:OtherPropertyPlantEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI036098

Robin Rainey and Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Robin Rainey and Sons Limited

(Registration number: NI036098)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

78,288

54,403

Current assets

 

Stocks

5

71,427

71,600

Debtors

6

422,088

512,836

Cash at bank and in hand

 

374,100

164,249

 

867,615

748,685

Creditors: Amounts falling due within one year

7

(394,859)

(496,461)

Net current assets

 

472,756

252,224

Total assets less current liabilities

 

551,044

306,627

Creditors: Amounts falling due after more than one year

7

(112,576)

-

Provisions for liabilities

(19,572)

(13,601)

Net assets

 

418,896

293,026

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

417,896

292,026

Shareholders' funds

 

418,896

293,026

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 and 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.

 

Robin Rainey and Sons Limited

(Registration number: NI036098)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

.........................................
Mr Brian Rainey
Director

.........................................
Mr Nathaniel Alexander Rainey
Director

 

Robin Rainey and Sons Limited

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 Northern Ireland.

The address of its registered office is: 147 Portglenone Road, Randalstown, County Antrim, BT41 3EN.

These financial statements were authorised for issue by the Board on 23 January 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.

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.

Government grants

Revenue grants are accounted for under the performance model. Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable.

Tax

The tax expense for the period comprises current and deferred 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.

 

Robin Rainey and Sons Limited

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% reducing balance basis

Plant and machinery

15% reducing balance basis

Office equipment, fixtures and fittings

15% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are 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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

 

Robin Rainey and Sons Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Robin Rainey and Sons Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Tangible assets

Office equipment, fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

29,958

277,374

211,028

518,360

Additions

-

-

38,000

38,000

Disposals

-

-

(28,250)

(28,250)

At 30 June 2024

29,958

277,374

220,778

528,110

Depreciation

At 1 July 2023

27,989

257,968

178,000

463,957

Charge for the year

296

2,911

10,163

13,370

Eliminated on disposal

-

-

(27,505)

(27,505)

At 30 June 2024

28,285

260,879

160,658

449,822

Carrying amount

At 30 June 2024

1,673

16,495

60,120

78,288

At 30 June 2023

1,969

19,406

33,028

54,403

5

Stocks

2024
£

2023
£

Stock

71,427

71,600

 

Robin Rainey and Sons Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

417,403

501,207

Prepayments

1,125

1,575

Other debtors

3,560

10,054

 

422,088

512,836

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

199,434

256,623

Directors current account

100,000

173,371

Taxation and social security

 

1,626

1,141

Other creditors and accruals

 

93,799

65,326

 

394,859

496,461

Due after one year

 

Directors loan account

112,576

-

 

Robin Rainey and Sons Limited

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000