Company registration number 10051151 (England and Wales)
RYDING CARE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
RYDING CARE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
RYDING CARE SERVICES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
98,805
131,740
Tangible assets
4
54,311
64,561
153,116
196,301
Current assets
Debtors
5
32,944
32,655
Cash at bank and in hand
39,676
51,574
72,620
84,229
Creditors: amounts falling due within one year
6
(246,321)
(296,960)
Net current liabilities
(173,701)
(212,731)
Total assets less current liabilities
(20,585)
(16,430)
Creditors: amounts falling due after more than one year
7
(25,927)
(30,302)
Provisions for liabilities
9
(9,606)
(11,915)
Net liabilities
(56,118)
(58,647)
Capital and reserves
Called up share capital
12
12
Profit and loss reserves
(56,130)
(58,659)
Total equity
(56,118)
(58,647)

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 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

RYDING CARE SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 March 2024
Joanne Ryding
Director
Company Registration No. 10051151
RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Ryding Care Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Curzon Road, Wirral, CH47 1HB.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities however has returned to profit in the current accounting period. The COVID-19 pandemic caused significant harm to the residential care sector and the business suffered directly as a result. However, the director took steps to protect the business and its financial position by taking government assistance and kept control over operating expenditure. Due to the actions of the director the company has a positive financial outlook and profits are expected to continue into the future. On this bases the director deems it appropriate to prepare the financial statements on a going concern basis.

1.3
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.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 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.

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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
36
40
RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
329,350
Amortisation and impairment
At 1 July 2022
197,610
Amortisation charged for the year
32,935
At 30 June 2023
230,545
Carrying amount
At 30 June 2023
98,805
At 30 June 2022
131,740
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022 and 30 June 2023
5,616
140,502
25,995
172,113
Depreciation and impairment
At 1 July 2022
3,014
84,198
20,340
107,552
Depreciation charged in the year
390
8,446
1,414
10,250
At 30 June 2023
3,404
92,644
21,754
117,802
Carrying amount
At 30 June 2023
2,212
47,858
4,241
54,311
At 30 June 2022
2,602
56,304
5,655
64,561
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,491
2,557
Corporation tax recoverable
19,442
19,442
Other debtors
8,832
8,332
Prepayments and accrued income
2,179
2,324
32,944
32,655
RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,017
9,625
Trade creditors
60,505
77,717
Corporation tax
8,829
-
0
Other taxation and social security
12,412
11,174
Other creditors
150,118
189,667
Accruals and deferred income
4,440
8,777
246,321
296,960
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,927
30,302
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
9,606
9,055
Effect of change in corporation tax rate
-
2,860
9,606
11,915
2023
Movements in the year:
£
Liability at 1 July 2022
11,915
Credit to profit or loss
(2,309)
Liability at 30 June 2023
9,606
RYDING CARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
9
Operating lease commitments
Lessee

 

At 30 June 2023 the Company had future minimum lease payments under non-cancellable operating leases as follows.

 

2023
2022
£
£
-
0
138,000
2023-06-302022-07-01false28 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityJoanne Rydingfalse100511512022-07-012023-06-30100511512023-06-30100511512022-06-3010051151core:Goodwill2023-06-3010051151core:Goodwill2022-06-3010051151core:PlantMachinery2023-06-3010051151core:FurnitureFittings2023-06-3010051151core:MotorVehicles2023-06-3010051151core:PlantMachinery2022-06-3010051151core:FurnitureFittings2022-06-3010051151core:MotorVehicles2022-06-3010051151core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3010051151core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3010051151core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3010051151core:Non-currentFinancialInstrumentscore:AfterOneYear2022-06-3010051151core:ShareCapital2023-06-3010051151core:ShareCapital2022-06-3010051151core:RetainedEarningsAccumulatedLosses2023-06-3010051151core:RetainedEarningsAccumulatedLosses2022-06-3010051151bus:Director12022-07-012023-06-3010051151core:Goodwill2022-07-012023-06-3010051151core:PlantMachinery2022-07-012023-06-3010051151core:FurnitureFittings2022-07-012023-06-3010051151core:MotorVehicles2022-07-012023-06-30100511512021-07-012022-06-3010051151core:Goodwill2022-06-3010051151core:PlantMachinery2022-06-3010051151core:FurnitureFittings2022-06-3010051151core:MotorVehicles2022-06-30100511512022-06-3010051151core:CurrentFinancialInstruments2023-06-3010051151core:CurrentFinancialInstruments2022-06-3010051151core:Non-currentFinancialInstruments2023-06-3010051151core:Non-currentFinancialInstruments2022-06-3010051151bus:PrivateLimitedCompanyLtd2022-07-012023-06-3010051151bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3010051151bus:FRS1022022-07-012023-06-3010051151bus:AuditExemptWithAccountantsReport2022-07-012023-06-3010051151bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP