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Registered number: 01425933
Stephen Rayns Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Elite Accounting Services (Leicester) Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01425933
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,229,039 1,229,691
1,229,039 1,229,691
CURRENT ASSETS
Stocks 5 45,525 29,525
Debtors 6 (33,078 ) 4,057
Cash at bank and in hand 202,857 1,833
215,304 35,415
Creditors: Amounts Falling Due Within One Year 7 (850,963 ) (901,833 )
NET CURRENT ASSETS (LIABILITIES) (635,659 ) (866,418 )
TOTAL ASSETS LESS CURRENT LIABILITIES 593,380 363,273
Creditors: Amounts Falling Due After More Than One Year 8 (506,587 ) (310,083 )
NET ASSETS 86,793 53,190
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Revaluation reserve 10 1,191,605 1,191,605
Profit and Loss Account (1,114,812 ) (1,148,415 )
SHAREHOLDERS' FUNDS 86,793 53,190
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Rayns
Director
28/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stephen Rayns Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01425933 . The registered office is Barrowcliffe Farm, South Croxton Road, Queniborough, Leicester, LE7 3RX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No Depreciation
Leasehold Not provided
Plant & Machinery 25% Reducing Balance
Motor Vehicles 33% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33.33% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 August 2023 27,436 1,200,000 1,422 3,626
As at 31 July 2024 27,436 1,200,000 1,422 3,626
Depreciation
As at 1 August 2023 - - 980 3,452
Provided during the period - - 111 57
As at 31 July 2024 - - 1,091 3,509
Net Book Value
As at 31 July 2024 27,436 1,200,000 331 117
As at 1 August 2023 27,436 1,200,000 442 174
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 5,789 832 1,239,105
As at 31 July 2024 5,789 832 1,239,105
Depreciation
As at 1 August 2023 4,742 240 9,414
Provided during the period 262 222 652
As at 31 July 2024 5,004 462 10,066
Net Book Value
As at 31 July 2024 785 370 1,229,039
As at 1 August 2023 1,047 592 1,229,691
5. Stocks
2024 2023
£ £
Finished goods 45,525 29,525
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors (33,078 ) 4,057
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 446 820
Bank loans and overdrafts 13,273 22,800
Other taxes and social security 10,319 12,832
Net wages - 1,562
Other creditors 1,500 1,500
Accruals and deferred income 11,654 12,079
Director's loan account 813,771 850,240
850,963 901,833
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 506,587 310,083
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
10. Reserves
Revaluation Reserve
£
As at 1 August 2023 1,191,605
As at 31 July 2024 1,191,605
Page 5