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R.A.F General Engineering Ltd

Registered Number
11020978
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

R.A.F General Engineering Ltd
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

GIBKA Aneta
GIBKI Rafal Stanislaw

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

11020978 (England and Wales)
R.A.F General Engineering Ltd
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets344
Tangible assets4322,365332,174
322,369332,178
Current assets
Stocks5264,153210,307
Debtors6137,304225,084
Cash at bank and on hand7,7004,364
409,157439,755
Creditors amounts falling due within one year7(347,681)(418,042)
Net current assets (liabilities)61,47621,713
Total assets less current liabilities383,845353,891
Creditors amounts falling due after one year8(233,254)(203,491)
Provisions for liabilities10(59,480)(63,545)
Net assets91,11186,855
Capital and reserves
Called up share capital1111
Profit and loss account91,10086,844
Shareholders' funds91,11186,855
The financial statements were approved and authorised for issue by the Board of Directors on 20 June 2025, and are signed on its behalf by:
GIBKA Aneta
Director
GIBKI Rafal Stanislaw
Director

Registered Company No. 11020978
R.A.F General Engineering Ltd
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings25
Office Equipment10
Finance leases and hire purchase contracts
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of financial position, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20252024
Average number of employees during the year1216
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2444
At 31 March 2544
Net book value
At 31 March 2544
At 31 March 2444
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 24427,19120,61943,572491,382
Additions34,209-8,44642,655
At 31 March 25461,40020,61952,018534,037
Depreciation and impairment
At 01 April 24140,30111,0367,871159,208
Charge for year46,0272,3964,04152,464
At 31 March 25186,32813,43211,912211,672
Net book value
At 31 March 25275,0727,18740,106322,365
At 31 March 24286,8909,58335,701332,174
5.Stocks

2025

2024

££
Raw materials and consumables175,653147,722
Work in progress88,50062,585
Total264,153210,307
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables93,068225,084
Other debtors44,236-
Total137,304225,084
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables72,651100,692
Bank borrowings and overdrafts106,798154,532
Taxation and social security74,12881,438
Finance lease and HP contracts68,02259,764
Other creditors24,08720,844
Accrued liabilities and deferred income1,995772
Total347,681418,042
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts equal to £68,022 (2024 - £59,764) are secured against the assets to which they relate.
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts109,65859,113
Other creditors123,596144,378
Total233,254203,491
Included in other creditors is £15,608 (2024 - £NIL) of capital grant income which is being credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates.
9.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts107,988141,763
Finance lease and HP contracts equal to £107,988 (2024 - £141,763) are secured against the assets to which they relate.
10.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)59,48063,545
Total59,48063,545
11.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £6,844 (2024 - £6,443).
12.Other commitments
At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £75,000 (2024: £112,500).