1 September 2023 v2025.31.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP091819212023-09-012024-08-31091819212024-08-31091819212023-08-3109181921core:WithinOneYear2024-08-3109181921core:WithinOneYear2023-08-3109181921core:AfterOneYear2024-08-3109181921core:AfterOneYear2023-08-3109181921core:ShareCapital2024-08-3109181921core:ShareCapital2023-08-3109181921core:RetainedEarningsAccumulatedLosses2024-08-3109181921core:RetainedEarningsAccumulatedLosses2023-08-3109181921bus:Director12023-09-012024-08-3109181921bus:RegisteredOffice2023-09-012024-08-3109181921core:PlantMachinery2023-09-012024-08-3109181921core:MotorVehicles2023-09-012024-08-3109181921core:OfficeEquipment2023-09-012024-08-31091819212022-09-012023-08-3109181921core:PlantMachinery2023-09-0109181921core:PlantMachinery2024-08-3109181921core:PlantMachinery2023-08-3109181921core:BetweenOneFiveYears2024-08-3109181921core:BetweenOneFiveYears2023-08-310918192112023-09-012024-08-310918192112023-09-012024-08-3109181921countries:EnglandWales2023-09-012024-08-3109181921bus:AuditExemptWithAccountantsReport2023-09-012024-08-3109181921bus:PrivateLimitedCompanyLtd2023-09-012024-08-3109181921bus:SmallEntities2023-09-012024-08-3109181921bus:FullAccounts2023-09-012024-08-31
Company registration number:
09181921
Raised Access Flooring Supplies Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2024
Raised Access Flooring Supplies Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Raised Access Flooring Supplies Limited
Year ended
31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Raised Access Flooring Supplies Limited
for the year ended
31 August 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Raised Access Flooring Supplies Limited
, as a body, in accordance with the terms of our engagement letter dated 13 May 2022. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Raised Access Flooring Supplies Limited
and state those matters that we have agreed to state to the Board of Directors of
Raised Access Flooring Supplies Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Raised Access Flooring Supplies Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Raised Access Flooring Supplies Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Raised Access Flooring Supplies Limited
. You consider that
Raised Access Flooring Supplies Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Raised Access Flooring Supplies 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 statutory financial statements.
Fitton & Co
Chartered Certified Accountants
Callis Mill
Woodland View
Hebden Bridge
West Yorkshire
HX7 6PJ
United Kingdom
Date:
27 May 2025
Raised Access Flooring Supplies Limited
Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Tangible assets 5
69,008
 
35,650
 
Current assets    
Stocks
161,127
 
48,250
 
Debtors 6
321,738
 
573,035
 
Cash at bank and in hand
146,004
 
248,363
 
628,869
 
869,648
 
Creditors: amounts falling due within one year 7
(187,549
)
(306,673
)
Net current assets
441,320
 
562,975
 
Total assets less current liabilities 510,328   598,625  
Creditors: amounts falling due after more than one year 8
(25,317
)
(17,500
)
Provisions for liabilities
(18,287
)
(8,912
)
Net assets
466,724
 
572,213
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
466,624
 
572,113
 
Shareholders funds
466,724
 
572,213
 
For the year ending
31 August 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 May 2025
, and are signed on behalf of the board by:
A Holmes
Director
Company registration number:
09181921
Raised Access Flooring Supplies Limited
Notes to the Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 5, Springwood Business Park Burrwood Way
,
Holywell Green
,
Halifax
,
HX4 9BJ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2023:
3.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 September 2023
66,821
 
Additions
50,318
 
At
31 August 2024
117,139
 
Depreciation  
At
1 September 2023
31,171
 
Charge
16,960
 
At
31 August 2024
48,131
 
Carrying amount  
At
31 August 2024
69,008
 
At 31 August 2023
35,650
 

6 Debtors

20242023
££
Trade debtors
240,496
 
526,203
 
Other debtors
81,242
 
46,832
 
321,738
 
573,035
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
112,732
 
209,010
 
Taxation and social security
48,745
 
163,540
 
Other creditors
16,072
 
(75,877
)
187,549
 
306,673
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
7,500
 
17,500
 
Other creditors
17,817
  -  
25,317
 
17,500
 

9 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
93,610
 
72,823
 
Later than 1 year and not later than 5 years
97,799
 
66,409
 
191,409
 
139,232
 
The amount of operating leases recognised as an expense in the period was £83,155 (2023 £50,200 for premises and £9,776 (2023 £4,816) for other leases.

10 Events after the end of the reporting period

Dividends proposed after the year end and not recognised as a liability £24,500 (2023 £84,600).

12 Controlling party

The company is jointly controlled by A Holmes and M Holmes due to their majority shareholding.