| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| RAISCO LIMITED |
| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| RAISCO LIMITED |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| RAISCO LIMITED |
| Company Information |
| for the Year Ended 31 March 2025 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Senior statutory auditor: |
| Auditors: |
| Accountants and Statutory Auditor |
| 43 Coniscliffe Road |
| Darlington |
| Co. Durham |
| DL3 7EH |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Abridged Balance Sheet |
| 31 March 2025 |
| 31/3/25 | 31/3/24 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| Current assets |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Raisco Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 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. |
| Revenue from contracts for the rendering of services is recognised by reference to the stage of completion of the contract. Applications for payment are issued throughout the duration of a contract based on work carried out and income is recognised at the date of application. Provision is made for any expected variations and losses on all contracts in the year in which they are foreseen |
| Goodwill |
| Goodwill is being amortised on a straight line basis over its estimated useful life of 10 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| No depreciation is provided on freehold property and improvements to the property as the directors believe that the estimated fair value is not materially different from the carrying amounts of the asset in the financial statements and there is a policy of regular repair expenditure to maintain the property in its original condition being expensed to profit and loss. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Other financial assets |
| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
| Impairment of financial assets |
| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financial 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. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Grant income |
| Grant income is recognised when it becomes receivable and is allocated over the useful life of the assets to which it relates. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2024 |
| Disposals | ( |
) |
| At 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| The investment property valuation was reviewed at 31 March 2025 by the company directors. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 31/3/25 | 31/3/24 |
| £ | £ |
| Repayable by instalments |
| Bank loans | 476,744 | 516,224 |
| Interest is charged on the commercial mortgage at 2.84% and other loans at 5%. |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/3/25 | 31/3/24 |
| £ | £ |
| Commercial mortgage | 657,448 | 691,201 |
| Amounts owed to HSBC are secured by a debenture dated 3 October 2018 including a Fixed Charge over all present property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital both present and future; and First Floating Charge over all assets and undertaking both present and future. |
| The commercial mortgage is secured by a First Fixed Charge dated 6 July 2020 over the leasehold property known as buildings and land forming part of Langton Industrial Estate. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | CONTINGENT LIABILITIES |
| A multilateral guarantee exists between Gracloem Holdings Ltd and Raisco Limited dated 18th October 2018 in favour of HSBC Bank plc. At the balance sheet date the net amount owing to HSBC Bank plc by Gracloem Holdings Ltd was nil (2024 - £nil). |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 31/3/25 | 31/3/24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest on overdrawn balances is charged at 2.25%, the balance is repayable on demand. |
| RAISCO LIMITED (REGISTERED NUMBER: 06220184) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| The controlling party is G Raistrick. |
| The ultimate controlling party is |
| Gracloem Holdings Ltd (the immediate parent company) is regarded by the directors as being the company's ultimate parent company. Its registered office is Langton Business Park, Durham Way South, Newton Aycliffe, Co. Durham, DL5 6BL. |
| It is the only company within the group which prepares consolidated financial statements of which this company is included. Copies of the consolidated accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ. |