Company registration number 06709013 (England and Wales)
K.RACKHAM & SON ENGINEERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
K.RACKHAM & SON ENGINEERING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
K.RACKHAM & SON ENGINEERING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
72,271
82,701
Current assets
Stocks
18,553
23,215
Debtors
5
86,315
122,746
Cash at bank and in hand
605,574
554,336
710,442
700,297
Creditors: amounts falling due within one year
6
(66,962)
(78,111)
Net current assets
643,480
622,186
Net assets
715,751
704,887
Capital and reserves
Called up share capital
103
103
Profit and loss reserves
715,648
704,784
Total equity
715,751
704,887

For the financial year ended 30 September 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 director acknowledges his 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 director of the company has 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 16 June 2025 and are signed on its behalf by:
Mr JK Rackham
Director
Company registration number 06709013 (England and Wales)
K.RACKHAM & SON ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

K.Rackham & Son Engineering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Union Suite, The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.

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 have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Plant and equipment
- 25% reducing balance
Computers
- 25% reducing balance
Motor vehicles
- 25% reducing balance
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

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

K.RACKHAM & SON ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

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

2024
2023
Number
Number
Total
7
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
650,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
650,000
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
K.RACKHAM & SON ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
310,014
Additions
13,661
At 30 September 2024
323,675
Depreciation and impairment
At 1 October 2023
227,314
Depreciation charged in the year
24,090
At 30 September 2024
251,404
Carrying amount
At 30 September 2024
72,271
At 30 September 2023
82,701
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
69,926
82,269
Corporation tax recoverable
-
0
32,277
Other debtors
16,389
8,200
86,315
122,746
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,082
3,490
Corporation tax
34,487
-
0
Other taxation and social security
12,875
11,492
Other creditors
7,518
63,129
66,962
78,111
2024-09-302023-10-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr K G RackhamMr J K Rackham067090132023-10-012024-09-30067090132024-09-30067090132023-09-3006709013core:OtherPropertyPlantEquipment2024-09-3006709013core:OtherPropertyPlantEquipment2023-09-3006709013core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3006709013core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3006709013core:ShareCapital2024-09-3006709013core:ShareCapital2023-09-3006709013core:RetainedEarningsAccumulatedLosses2024-09-3006709013core:RetainedEarningsAccumulatedLosses2023-09-3006709013bus:Director22023-10-012024-09-3006709013core:Goodwill2023-10-012024-09-3006709013core:PlantMachinery2023-10-012024-09-3006709013core:ComputerEquipment2023-10-012024-09-3006709013core:MotorVehicles2023-10-012024-09-30067090132022-10-012023-09-3006709013core:NetGoodwill2023-09-3006709013core:NetGoodwill2024-09-3006709013core:NetGoodwill2023-09-3006709013core:OtherPropertyPlantEquipment2023-09-3006709013core:OtherPropertyPlantEquipment2023-10-012024-09-3006709013core:CurrentFinancialInstruments2024-09-3006709013core:CurrentFinancialInstruments2023-09-3006709013core:WithinOneYear2024-09-3006709013core:WithinOneYear2023-09-3006709013bus:PrivateLimitedCompanyLtd2023-10-012024-09-3006709013bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3006709013bus:FRS1022023-10-012024-09-3006709013bus:AuditExempt-NoAccountantsReport2023-10-012024-09-3006709013bus:Director12023-10-012024-09-3006709013bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP