REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
RAINER SECURITY PRODUCTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
RAINER SECURITY PRODUCTS LIMITED |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Abridged Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve | 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. |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Abridged Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Rainer Security Products Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Tangible fixed assets |
Land and buildings held and used in the Company’s own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. |
Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. |
Once a revalued property is sold or retired, any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised. |
Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. |
The depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
Freehold property | 2% | Straight line basis |
Fixtures and fittings | 25% | Reducing balance basis |
Computer equipment | 25% | Straight line basis |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Operating leases |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Revaluations |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2024 is represented by: |
Totals |
£ |
Valuation in 2023 | 323,509 |
Valuation in 2024 | 15,000 |
Cost | 317,866 |
656,375 |
Freehold property was valued on an open market basis on 30 April 2024 by the directors . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.4.24 | 30.4.23 |
£ | £ |
Repayable by instalments |
Bank loans more than |
5 years by instalments | - | 6,073 |
Bounce back loan more than |
5 years by instalments | 5,796 | 11,352 |
5,796 | 17,425 |
The amount outstanding on the bank loans at on the balance sheet date was £68,694 (2023 - £85,008) and this is payable in monthly instalments plus interest. |
RAINER SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 02240635) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank overdrafts |
Bank loans |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2023 |
Adjustment on revaluation | (1,747 | ) |
At 30 April 2024 |
The property revaluation reserve comprises the cumulative effect of revaluations of freehold property which is revalued to fair value at each reporting date. |