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Registered number: 01763826










RAY-RAN TEST EQUIPMENT LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
RAY-RAN TEST EQUIPMENT LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 4


 
RAY-RAN TEST EQUIPMENT LIMITED
REGISTERED NUMBER: 01763826

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,284,184
4,320,784

Cash at bank and in hand
  
-
468

  
4,284,184
4,321,252

Creditors: amounts falling due within one year
 5 
-
(37,068)

Net current assets
  
 
 
4,284,184
 
 
4,284,184

Total assets less current liabilities
  
4,284,184
4,284,184

  

Net assets
  
4,284,184
4,284,184


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
4,284,084
4,284,084

  
4,284,184
4,284,184


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 August 2025.




L K Butler
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
RAY-RAN TEST EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Ray-Ran Test Equipment Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is  c/o Industrial Physics Product Integrity Limited, 17 Thame Park Business Centre, Wenman Road, Thame, Oxfordshire, OX9 3XA. Its principal place of business until the cessation of trade was Kelsey Close, Attleborough Fields Industrial Estate, Nuneaton, Warwickshire, CV11 6RS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Going concern

The company ceased to trade on 30 June 2023 with its trade and assets being transferred to another group company. The financial statements have therefore been prepared on a basis other than that of a going concern. No material adjustments have been made to these financial statements as a result of using a basis other than going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Financial instruments

The Company only enters into basis 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.


 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

Page 2

 
RAY-RAN TEST EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 13).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
4,284,184
4,320,784



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
37,068



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



7.


Related party transactions

The company has taken advantage of the exemption under FRS 102 section 1A to not disclose related party transactions between members as a wholly owned group


8.


Controlling party

The name of the parent of the group in whose consolidated financial statements the company's financial statements are consolidated is Industrial Physics LLC.
These financial statements are available upon request from 40 McCullough Drive, New Castle, Delaware, 19720, United States.

Page 3

 
RAY-RAN TEST EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The report included an "emphais of matter" paragraph as follows:-
We draw attention to note 2.2 in the financial statements, which explains that the company ceased to trade during the year and the directors therefore do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.  Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2.2.  Our opinion is not modified in respect of this matter.

The audit report was signed on 20 August 2025 by Christopher Barlow BFP FCA FCCA (Senior Statutory Auditor) on behalf of MHA, Statutory Auditor.

Page 4