Company registration number 01265143 (England and Wales)
RAYDA PLASTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
RAYDA PLASTICS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RAYDA PLASTICS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
68,145
88,385
Current assets
Stocks
130,217
220,301
Debtors
4
230,549
141,845
Cash at bank and in hand
263,000
349,488
623,766
711,634
Creditors: amounts falling due within one year
5
(76,776)
(175,286)
Net current assets
546,990
536,348
Total assets less current liabilities
615,135
624,733
Provisions for liabilities
(11,988)
(16,420)
Net assets
603,147
608,313
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
603,047
608,213
Total equity
603,147
608,313

For the financial year ended 31 August 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 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 May 2025 and are signed on its behalf by:
Mr R R Vincent
Mr A C Day
Director
Director
Company registration number 01265143 (England and Wales)
RAYDA PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Rayda Plastics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5, South View Estate, Willand, Cullompton, Devon, EX15 2QW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
10% on cost per annum
Plant and machinery
15% on net book value per annum
Fixtures, fittings & equipment
15% on cost per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

RAYDA PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
8,334
678,865
687,199
Disposals
-
0
(67,777)
(67,777)
At 31 August 2024
8,334
611,088
619,422
Depreciation and impairment
At 1 September 2023
8,334
590,480
598,814
Depreciation charged in the year
-
0
12,862
12,862
Eliminated in respect of disposals
-
0
(60,399)
(60,399)
At 31 August 2024
8,334
542,943
551,277
Carrying amount
At 31 August 2024
-
0
68,145
68,145
At 31 August 2023
-
0
88,385
88,385
RAYDA PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
97,793
132,270
Other debtors
132,756
9,575
230,549
141,845
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
42,251
132,594
Taxation and social security
26,593
28,500
Other creditors
7,932
14,192
76,776
175,286
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
11,988
16,420
2024
Movements in the year:
£
Liability at 1 September 2023
16,420
Credit to profit or loss
(4,432)
Liability at 31 August 2024
11,988

 

RAYDA PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
37,500
37,500
Between two and five years
46,875
84,375
84,375
121,875
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