Company Registration No. 05851690 (England and Wales)
RAYER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
PAGES FOR FILING WITH REGISTRAR
RAYER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RAYER LIMITED
BALANCE SHEET
AS AT 30 JUNE 2017
30 June 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Investments
2
2
2
Current assets
Debtors
4
2
2
Creditors: amounts falling due within one year
5
(9,170)
(9,170)
Net current liabilities
(9,168)
(9,168)
Total assets less current liabilities
(9,166)
(9,166)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(9,168)
(9,168)
Total equity
(9,166)
(9,166)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
T
he director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on
26 March 2018
Mrs S Marment
Director
Company Registration No. 05851690
RAYER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
- 2 -
1
Accounting policies
Company information
Rayer Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Holly Cottage, High Street, Adderbury, Oxon, OX17 3NA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
These financial statements for the year ended 30 June 2017
are the
first
financial statements of Rayer Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic
financial assets, which
comprises of
debtors
, are initially measured at transaction price
(
including transaction costs
)
and are
subsequently
measured at the
un
discounted
amount receivable.
Basic financial liabilities
Financial
liabilities,
which comprises of
trade
creditors and loans from subsidiaries, are
initially recognised at transaction price
(including transaction costs) and are subsequently measured at the undiscounted amount payable.
RAYER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2017
2016
£
£
Investments
2
2
3
Subsidiaries
Details of the company's subsidiaries at 30 June 2017 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Rayer (Jordan) Limited
Jordan
Dormant
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Rayer (Jordan) Limited
-
-
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
2
2
5
Creditors: amounts falling due within one year
2017
2016
£
£
Amounts due to group undertakings
2
2
Other creditors
9,168
9,168
9,170
9,170
RAYER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
- 4 -
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and not fully paid
2 Ordinary shares of £1 each
2
2
2
2
7
Related party transactions
As at 30 June 2017 the company owed S. Marment £8,760 ( 2016 - £8,760). No interest is being charged to the company.