Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-01No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01false3632truetruefalse NI012773 2024-01-01 2024-12-31 NI012773 2023-01-01 2023-12-31 NI012773 2024-12-31 NI012773 2023-12-31 NI012773 2023-01-01 NI012773 c:Director3 2024-01-01 2024-12-31 NI012773 d:Buildings 2024-01-01 2024-12-31 NI012773 d:Buildings 2024-12-31 NI012773 d:Buildings 2023-12-31 NI012773 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI012773 d:MotorVehicles 2024-01-01 2024-12-31 NI012773 d:MotorVehicles 2024-12-31 NI012773 d:MotorVehicles 2023-12-31 NI012773 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI012773 d:FurnitureFittings 2024-01-01 2024-12-31 NI012773 d:FurnitureFittings 2024-12-31 NI012773 d:FurnitureFittings 2023-12-31 NI012773 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI012773 d:ComputerEquipment 2024-01-01 2024-12-31 NI012773 d:ComputerEquipment 2024-12-31 NI012773 d:ComputerEquipment 2023-12-31 NI012773 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI012773 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI012773 d:CurrentFinancialInstruments 2024-12-31 NI012773 d:CurrentFinancialInstruments 2023-12-31 NI012773 d:Non-currentFinancialInstruments 2024-12-31 NI012773 d:Non-currentFinancialInstruments 2023-12-31 NI012773 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 NI012773 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI012773 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 NI012773 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 NI012773 d:ShareCapital 2024-12-31 NI012773 d:ShareCapital 2023-12-31 NI012773 d:RetainedEarningsAccumulatedLosses 2024-12-31 NI012773 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI012773 c:FRS102 2024-01-01 2024-12-31 NI012773 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 NI012773 c:FullAccounts 2024-01-01 2024-12-31 NI012773 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI012773 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 NI012773 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI012773 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 NI012773 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI012773 2 2024-01-01 2024-12-31 NI012773 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: NI012773










Ray Grahams Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
Ray Grahams Ltd
Registered number: NI012773

Balance Sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
117,551
2,319,128

  
117,551
2,319,128

Current assets
  

Stocks
  
1,612,214
1,381,208

Debtors: amounts falling due within one year
 5 
1,356,770
471,188

Cash at bank and in hand
 6 
712,221
1,113,785

  
3,681,205
2,966,181

Creditors: amounts falling due within one year
 7 
(575,787)
(848,874)

Net current assets
  
 
 
3,105,418
 
 
2,117,307

Total assets less current liabilities
  
3,222,969
4,436,435

Creditors: amounts falling due after more than one year
 8 
(17,866)
-

Provisions for liabilities
  

Deferred tax
 9 
(17,638)
-

Net assets
  
3,187,465
4,436,435


Capital and reserves
  

Called up share capital 
  
701,006
701,006

Profit and loss account
  
2,486,459
3,735,429

  
3,187,465
4,436,435

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 May 2025.

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Ray Grahams Ltd
Registered number: NI012773

Balance Sheet (continued)
As at 31 December 2024


R M O'Hara
Director

The notes on pages 3 to 9 form part of these financial statements.
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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

1.


General information

Ray Grahams Ltd is a private company limited by shares incorporated in Northern Ireland.  The registration number and address of the registered office are given in the Company Information section of these financial statements. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors of Ray Grahams Ltd have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future.

 
2.3

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
10%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Stocks

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.13

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

  
2.14

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

 
2.15

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 32).



4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
2,926,935
348,769
494,692
6,841
3,777,237


Additions
-
56,720
32,903
4,200
93,823


Disposals
(2,926,935)
(38,755)
-
-
(2,965,690)



At 31 December 2024

-
366,734
527,595
11,041
905,370



Depreciation


At 1 January 2024
653,812
348,770
450,967
4,561
1,458,110


Charge for the year on owned assets
3,008
9,453
10,196
2,627
25,284


Disposals
(656,820)
(38,755)
-
-
(695,575)



At 31 December 2024

-
319,468
461,163
7,188
787,819



Net book value



At 31 December 2024
-
47,266
66,432
3,853
117,551



At 31 December 2023
2,273,123
-
43,725
2,280
2,319,128

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Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

5.


Debtors

2024
2023
£
£


Trade debtors
217,906
94,580

Amounts owed by group undertakings
1,113,949
347,903

Prepayments and accrued income
24,915
27,575

Deferred taxation
-
1,130

1,356,770
471,188



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
712,221
1,113,785

712,221
1,113,785



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
382,505
616,337

Corporation tax
69,885
125,698

Other taxation and social security
97,597
93,403

Hire purchase
11,063
-

Other creditors
2,898
3,350

Accruals and deferred income
11,839
10,086

575,787
848,874



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Hire purchase
17,866
-

17,866
-


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Page 8

 
Ray Grahams Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
1,130
(4,042)


Charged to profit or loss
(18,768)
5,172



At end of year
(17,638)
1,130

The deferred taxation balance is made up as follows:

2024
2023
£
£


Deccelerated /(Accelerated) capital allowances
(17,948)
668

Other timing differences
310
462

(17,638)
1,130


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £14,708 (2023 - £14,448). Contributions totalling £1,241 (2023 - £1,847) were payable to the fund at the balance sheet date and are included in creditors.


11.


Parent undertaking

The immediate and ultimate parent undertaking is RGL Group Limited, a company incorporated in Northern Ireland.

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