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Registered number: 00927577
Rayner And Eve Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Barnes Noble Ltd
Unitec House
2 Albert Place
London
N3 1QB
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Directors Mr Roy Eve
Mr Mark A Rayner
Secretary Mr Roy Eve
Company Number 00927577
Registered Office D S House
306 High Street
Croydon
Surrey
CR0 1NG
Accountants Barnes Noble Ltd
Unitec House
2 Albert Place
London
N3 1QB
Page 1
Page 2
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Rayner And Eve Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rayner And Eve Limited for the year ended 30 April 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Rayner And Eve Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Rayner And Eve Limited and state those matters that we have agreed to state to the directors of Rayner And Eve Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rayner And Eve Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Rayner And Eve Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Rayner And Eve Limited . You consider that Rayner And Eve Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Rayner And Eve Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
29 April 2025
Barnes Noble Ltd
Unitec House
2 Albert Place
London
N3 1QB
Page 2
Page 3
Statement of Financial Position
Registered number: 00927577
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 9,578 10,442
9,578 10,442
CURRENT ASSETS
Stocks 6 3,466 7,597
Debtors 7 187,646 192,263
Cash at bank and in hand 4,097 6,292
195,209 206,152
Creditors: Amounts Falling Due Within One Year 8 (196,263 ) (191,708 )
NET CURRENT ASSETS (LIABILITIES) (1,054 ) 14,444
TOTAL ASSETS LESS CURRENT LIABILITIES 8,524 24,886
Creditors: Amounts Falling Due After More Than One Year 9 (7,023 ) (24,166 )
NET ASSETS 1,501 720
CAPITAL AND RESERVES
Called up share capital 75 75
Capital redemption reserve 30 30
Income Statement 1,396 615
SHAREHOLDERS' FUNDS 1,501 720
Page 3
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Mr Roy Eve
Director
29 April 2025
The notes on pages 5 to 8 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Rayner And Eve Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00927577 . The registered office is D S House, 306 High Street, Croydon, Surrey, CR0 1NG.
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.
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
2.3. Turnover
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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting
period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
2.5. Tangible Fixed Assets and Depreciation
Tangible assets are stated in the statement of financial position 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:
Motor Vehicles 25% Reducing Balance Method
Fixtures & Fittings 20% Reducing Balance Method
Computer Equipment 20% Reducing Balance Method
2.6. Stocks and Work in Progress
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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.
2.7. Financial Instruments
Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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2.8. Taxation
The tax expense for the period comprises current 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.
2.9. Pensions
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.
2.10. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
2.11. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.12. 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 income statement 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 11,500
As at 30 April 2024 11,500
Amortisation
As at 1 May 2023 11,500
As at 30 April 2024 11,500
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
Page 6
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 14,050 244,994 11,919 270,963
Additions - - 1,565 1,565
As at 30 April 2024 14,050 244,994 13,484 272,528
Depreciation
As at 1 May 2023 12,025 240,812 7,684 260,521
Provided during the period 506 836 1,087 2,429
As at 30 April 2024 12,531 241,648 8,771 262,950
Net Book Value
As at 30 April 2024 1,519 3,346 4,713 9,578
As at 1 May 2023 2,025 4,182 4,235 10,442
6. Stocks
2024 2023
£ £
Stock 3,466 7,597
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 30,592 35,242
Prepayments and accrued income - 2,448
Other debtors 30,369 30,495
Director current account 1 126,685 124,078
187,646 192,263
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,105 58,638
Bank loans and overdrafts 10,001 10,001
Corporation tax 50,956 49,687
Other taxes and social security 2,155 2,329
Net wages 9,791 8,397
Pension contribution unpaid 40,922 41,098
Director 2 current account 16,833 13,833
Accruals and deferred income 12,500 7,725
196,263 191,708
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,023 24,166
Page 8