Registered number: 04357245

 

Clay Ratnage Daffin & Co Limited          
 

Financial Statements          

For the year ended 31 March 2025          

Clay Ratnage Daffin & Co Limited

Registered number: 04357245

Balance sheet

As at 31 March 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Clay Ratnage Daffin & Co Limited

Registered number: 04357245

    

Balance sheet (continued)

As at 31 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025

Clay Ratnage Daffin & Co Limited is a private company limited by shares and is incorporated in England and Wales. Its registered office is 105 Queenswood Avenue, Hutton, Brentwood, Essex CM13 1HX. The principal place of business is Suite D, The Business Centre, Faringdon Avenue, Romford, RM3 8EN. 

2.Accounting policies

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.

The following principal accounting policies have been applied:

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or
receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025

2.Accounting policies (continued)

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries are measured at cost less accumulated impairment.

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025

2.Accounting policies (continued)

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025

Clay Ratnage Daffin & Co Limited

 

 

 

Notes to the financial statements

For the year ended 31 March 2025