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Registered number: 07019893
NIC RASCLE LIMITED
Unaudited Financial Statements
For The Year Ended 30 September 2024
Runu & Co Accountancy & Taxation Services
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07019893
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 108,093 118,124
108,093 118,124
CURRENT ASSETS
Stocks 5 24,357 21,676
Debtors 6 51,298 59,147
75,655 80,823
Creditors: Amounts Falling Due Within One Year 7 (88,574 ) (69,497 )
NET CURRENT ASSETS (LIABILITIES) (12,919 ) 11,326
TOTAL ASSETS LESS CURRENT LIABILITIES 95,174 129,450
NET ASSETS 95,174 129,450
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 95,074 129,350
SHAREHOLDERS' FUNDS 95,174 129,450
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr NICOLAS RASCALE
Director
19/06/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
NIC RASCLE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07019893 . The registered office is 75A, GLOUCESTER ROAD, LONDON, NW1 8LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Staright Line Method
Leasehold Staright Line Method
Plant & Machinery Staright Line Method
Motor Vehicles Staright Line Method
Fixtures & Fittings Staright Line Method
Computer Equipment Staright Line Method
2.4. Stocks and Work in Progress
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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 13)
29 13
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 October 2023 101,307 15,171 17,435 48,480
As at 30 September 2024 101,307 15,171 17,435 48,480
...CONTINUED
Page 2
Page 3
Depreciation
As at 1 October 2023 10,307 15,171 17,436 34,240
Provided during the period - - - 3,589
As at 30 September 2024 10,307 15,171 17,436 37,829
Net Book Value
As at 30 September 2024 91,000 - (1 ) 10,651
As at 1 October 2023 91,000 - (1 ) 14,240
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 64,421 1,523 248,337
As at 30 September 2024 64,421 1,523 248,337
Depreciation
As at 1 October 2023 51,536 1,523 130,213
Provided during the period 6,442 - 10,031
As at 30 September 2024 57,978 1,523 140,244
Net Book Value
As at 30 September 2024 6,443 - 108,093
As at 1 October 2023 12,885 - 118,124
5. Stocks
2024 2023
£ £
Materials 24,357 21,676
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,760 12,400
Prepayments and accrued income 45,538 45,538
VAT - 1,209
51,298 59,147
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 40,323 60,106
Bank loans and overdrafts 2,784 593
Other taxes and social security 8,000 7,535
VAT 1,652 -
Other creditors 1,012 1,263
Director's loan account 34,803 -
88,574 69,497
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4