Registered number
03858344
Rachel Ellen Designs Limited
Unaudited Filleted Accounts
31 December 2024
Rachel Ellen Designs Limited
Registered number: 03858344
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 596,410 607,868
Current assets
Stocks 1,035,436 864,255
Debtors 4 230,500 366,742
Cash at bank and in hand 991,871 977,428
2,257,807 2,208,425
Creditors: amounts falling due within one year 5 (533,804) (579,867)
Net current assets 1,724,003 1,628,558
Total assets less current liabilities 2,320,413 2,236,426
Creditors: amounts falling due after more than one year 6 (195,726) (223,871)
Provisions for liabilities (15,132) (14,193)
Net assets 2,109,555 1,998,362
Capital and reserves
Called up share capital 10,400 10,400
Profit and loss account 2,099,155 1,987,962
Shareholders' funds 2,109,555 1,998,362
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R E Church
Director
Approved by the board on 27 May 2025
Rachel Ellen Designs Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Plant and equipment over 3 and 5 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
1 Accounting policies continued
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 22
3 Tangible fixed assets
Land and buildings Plant and equipment etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 692,012 217,251 12,500 921,763
Additions - 15,970 - 15,970
Disposals - (24,744) - (24,744)
At 31 December 2024 692,012 208,477 12,500 912,989
Depreciation
At 1 January 2024 96,748 204,647 12,500 313,895
Charge for the year 13,840 13,589 - 27,429
On disposals - (24,745) - (24,745)
At 31 December 2024 110,588 193,491 12,500 316,579
Net book value
At 31 December 2024 581,424 14,986 - 596,410
At 31 December 2023 595,264 12,604 - 607,868
4 Debtors 2024 2023
£ £
Trade debtors 213,442 335,960
Other debtors 17,058 30,782
230,500 366,742
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 26,429 22,362
Trade creditors 88,577 115,003
Taxation and social security costs 113,582 145,933
Other creditors 305,216 296,569
533,804 579,867
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 195,726 223,871
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 71,209 116,334
Secured bank loans 222,155 246,233
The bank loans are secured by fixed and floating charges over the assets of the company.
8 Other information
Rachel Ellen Designs Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Mount Street
New Basford
Nottingham
Nottinghamshire
NG7 7HX
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