2024-01-01 04299878 2024-12-31 04299878 2024-01-01 2024-12-31 04299878 2023-12-31 04299878 2023-01-01 2023-12-31 04299878 uk-core:WithinOneYear 2023-12-31 04299878 uk-core:WithinOneYear 2024-12-31 04299878 uk-core:AfterOneYear 2023-12-31 04299878 uk-core:AfterOneYear 2024-12-31 04299878 uk-core:ShareCapital 2024-12-31 04299878 uk-core:ShareCapital 2023-12-31 04299878 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 04299878 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 04299878 uk-bus:Director1 2024-01-01 2024-12-31 04299878 uk-bus:Director2 2024-01-01 2024-12-31 04299878 uk-core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04299878 uk-core:WithinOneYear 2024-12-31 04299878 uk-core:WithinOneYear 2023-12-31 04299878 uk-core:AfterOneYear uk-core:Secured 2024-12-31 04299878 uk-core:AfterOneYear uk-core:Secured 2023-12-31 04299878 2 uk-bus:Director1 2024-01-01 2024-12-31 04299878 2 uk-bus:Director1 2023-12-31 04299878 2 uk-bus:Director1 2024-12-31 iso4217:GBP xbrli:pure 04299878 uk-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04299878 uk-bus:FRS102 2024-01-01 2024-12-31 04299878 uk-bus:FilletedAccounts 2024-01-01 2024-12-31 04299878 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31
Rasco Limited
Registered Number:04299878
For the year ended 31 December 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2024
Rasco Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
04299878
As at 31 December 2024
Rasco Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
799
1,954
2
799
1,954
Current assets
Trade and other receivables
22,434
2,772
3
74,595
Cash and cash equivalents
57,092
59,864
97,029
Trade and other payables: amounts falling due within one
year
(90,620)
(56,201)
4
6,409
3,663
Net current assets
Total assets less current liabilities
4,462
8,363
Trade and other payables: amounts falling due after more
than one year
(14,350)
(6,150)
5
(340)
(489)
Provisions for liabilities
(2,028)
Net liabilities
(6,476)
Capital and reserves
Called up share capital
4
4
Retained earnings
(2,032)
(6,480)
(2,028)
(6,476)
Shareholders' funds
For the year ended 31 December 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 ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
A J Sayers Director
T Sayers Director
These financial statements were approved and authorised for issue by the Board on 20 May 2025 and were signed by:
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4
Registered Number :
04299878
For the year ended 31 December 2024
Rasco Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 December 2024
Rasco Limited
Notes to the Financial Statements
Statutory Information
Rasco Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
04299878.
Registered address:
5 Gurney Lane
Norwich
Norfolk
NR4 7SB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover represents amounts receivable for services. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% & 25% Straight line
Fixtures and fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity
instruments are recognised as liabilities once they are no longer at the discretion of the company.
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6
For the year ended 31 December 2024
Rasco Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 January 2024
18,069
328
Additions
At 31 December 2024
18,397
Provision for depreciation and impairment
At 01 January 2024
16,115
Charge for year
1,483
At 31 December 2024
17,598
At 31 December 2024
Net book value
799
At 31 December 2023
1,954
3. Trade and other receivables
2023
2024
£
£
Trade debtors
602
22,158
Prepayments and accrued income
304
276
Amounts owed by directors
1,429
-
Other debtors
437
-
22,434
2,772
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
8,200
8,200
Taxation and social security
47,282
65,181
Accruals and deferred income
719
641
Directors' loan accounts
-
16,368
Other creditors
-
230
56,201
90,620
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7
For the year ended 31 December 2024
Rasco Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
6,150
14,350
6. Directors advances and guarantees
Loaned
Repaid
Interest
At 01/01/2024
At 31/12/2024
£
£
£
£
£
A J Sayers
Directors' Loan Account
(16,368)
1,429
172,363
154,775
209
(16,368)
1,429
172,363
154,775
209
7. Average number of persons employed
During the year the average number of employees was 2 (2023 : 2)
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