| Rajkel Limited |
| Registered number: |
06502165 |
| Balance Sheet |
| as at 28 February 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
330,000 |
|
|
360,000 |
| Tangible assets |
3 |
|
|
416,213 |
|
|
419,074 |
|
|
|
|
746,213 |
|
|
779,074 |
|
| Current assets |
| Stocks |
|
|
29,465 |
|
|
35,877 |
| Debtors |
4 |
|
78,844 |
|
|
67,674 |
| Cash at bank and in hand |
|
|
232,207 |
|
|
165,482 |
|
|
|
340,516 |
|
|
269,033 |
|
| Creditors: amounts falling due within one year |
5 |
|
(567,851) |
|
|
(516,068) |
|
| Net current liabilities |
|
|
|
(227,335) |
|
|
(247,035) |
|
| Net assets |
|
|
|
518,878 |
|
|
532,039 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
518,778 |
|
|
531,939 |
|
| Shareholders' funds |
|
|
|
518,878 |
|
|
532,039 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Mayur Thakorbhai Patel |
| Director |
| Approved by the board on 25 July 2017 |
|
| Rajkel Limited |
| Notes to the Accounts |
| for the year ended 28 February 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
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 from 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
15% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 March 2016 |
600,000 |
|
At 28 February 2017 |
600,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 March 2016 |
240,000 |
|
Provided during the year |
30,000 |
|
At 28 February 2017 |
270,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2017 |
330,000 |
|
At 29 February 2016 |
360,000 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 March 2016 |
400,000 |
|
70,000 |
|
470,000 |
|
At 28 February 2017 |
400,000 |
|
70,000 |
|
470,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2016 |
- |
|
50,926 |
|
50,926 |
|
Charge for the year |
- |
|
2,861 |
|
2,861 |
|
At 28 February 2017 |
- |
|
53,787 |
|
53,787 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2017 |
400,000 |
|
16,213 |
|
416,213 |
|
At 29 February 2016 |
400,000 |
|
19,074 |
|
419,074 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
67,238 |
|
61,730 |
|
Other debtors |
11,606 |
|
5,944 |
|
|
|
|
|
|
78,844 |
|
67,674 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
58,470 |
|
54,683 |
|
Corporation tax |
53,182 |
|
31,096 |
|
Other taxes and social security costs |
1,708 |
|
1,410 |
|
Other creditors |
454,491 |
|
428,879 |
|
|
|
|
|
|
567,851 |
|
516,068 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Rajkel Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Suite 37/38 Marshall House |
|
124 Middleton Road |
|
Morden |
|
Surrey |
|
SM4 6RW |
|
|
| 7 |
Related party note |
|
|
Mr Mayur Kumar Thakor bhai Patel is the director of the company. At the end of the year amount owed by the company to the director is £434,599 ( 2016 : £404,902).
During the year, the company has declared dividend of £68,354 (2016 : £55,000). |
