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REGISTERED NUMBER: 05199607 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 October 2024

for

The Racking Installation Company Limited

The Racking Installation Company Limited (Registered number: 05199607)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Racking Installation Company Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: S Tsang





REGISTERED OFFICE: Unit 1 Mercia Court
Smith's Way
Saxon Business Park
Stoke Prior
Bromsgrove
B60 4GA





REGISTERED NUMBER: 05199607 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

The Racking Installation Company Limited (Registered number: 05199607)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,816 70,218

CURRENT ASSETS
Stocks 4,700 4,700
Debtors 5 121,634 133,990
Cash at bank 20,303 5,326
146,637 144,016
CREDITORS
Amounts falling due within one year 6 82,227 82,034
NET CURRENT ASSETS 64,410 61,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,226

132,200

CREDITORS
Amounts falling due after more than one year 7 (13,362 ) (30,306 )

PROVISIONS FOR LIABILITIES (13,710 ) (17,560 )
NET ASSETS 92,154 84,334

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 91,154 83,334
SHAREHOLDERS' FUNDS 92,154 84,334

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2025 and were signed by:




S Tsang - Director


The Racking Installation Company Limited (Registered number: 05199607)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

The Racking Installation Company Limited 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 1 (2023 - 2 ) .

The Racking Installation Company Limited (Registered number: 05199607)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 16,141 31,072 82,406 9,742 139,361
Additions - - 33,985 - 33,985
Disposals - - (33,985 ) - (33,985 )
At 31 October 2024 16,141 31,072 82,406 9,742 139,361
DEPRECIATION
At 1 November 2023 9,363 15,430 35,674 8,676 69,143
Charge for year 1,017 2,346 11,683 356 15,402
At 31 October 2024 10,380 17,776 47,357 9,032 84,545
NET BOOK VALUE
At 31 October 2024 5,761 13,296 35,049 710 54,816
At 31 October 2023 6,778 15,642 46,732 1,066 70,218

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 113,728 100,899
Amounts owed by group undertakings - 24,006
Other debtors 7,906 9,085
121,634 133,990

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,759 7,759
Hire purchase contracts 8,982 14,892
Trade creditors 3,644 20,631
Amounts owed to group undertakings 8,175 -
Taxation and social security 51,067 17,594
Other creditors 2,600 21,158
82,227 82,034

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,462 17,424
Hire purchase contracts 3,900 12,882
13,362 30,306

8. RELATED PARTY DISCLOSURES

The balance due to the director at 31st October 2024 was £Nil (2023- £18,558).

The balance due to the holding company at 31st October 2024 was £8,175 (due from in 2023 - £24,006).

The Racking Installation Company Limited (Registered number: 05199607)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. ULTIMATE CONTROLLING PARTY

The parent company is Tsang Holdings Limited, a company incorporated in England & Wales.