J & N Rymer Limited 05173278 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Growing of cereals (except rice), leguminous crops and oil seeds Digita Accounts Production Advanced 6.30.9574.0 true true 05173278 2022-08-01 2023-07-31 05173278 2023-07-31 05173278 bus:OrdinaryShareClass1 2023-07-31 05173278 bus:OrdinaryShareClass2 2023-07-31 05173278 core:CurrentFinancialInstruments 2023-07-31 05173278 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 05173278 bus:SmallEntities 2022-08-01 2023-07-31 05173278 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05173278 bus:FullAccounts 2022-08-01 2023-07-31 05173278 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 05173278 bus:RegisteredOffice 2022-08-01 2023-07-31 05173278 bus:Director1 2022-08-01 2023-07-31 05173278 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 05173278 bus:OrdinaryShareClass2 2022-08-01 2023-07-31 05173278 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05173278 countries:UnitedKingdom 2022-08-01 2023-07-31 05173278 2021-08-01 2022-07-31 05173278 2022-07-31 05173278 bus:OrdinaryShareClass1 2022-07-31 05173278 bus:OrdinaryShareClass2 2022-07-31 05173278 core:CurrentFinancialInstruments 2022-07-31 05173278 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

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Registration number: 05173278

J & N Rymer Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

J & N Rymer Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

J & N Rymer Limited

Company Information

Director

Mr Arthur John Rymer

Registration number

05173278

Registered office

4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB

Accountants

mca Business Ltd
4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB

 

J & N Rymer Limited

(Registration number: 05173278)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

804,476

773,891

Cash at bank and in hand

 

718

718

 

805,194

774,609

Creditors: Amounts falling due within one year

5

(9,725)

(4,065)

Net assets

 

795,469

770,544

Capital and reserves

 

Called up share capital

100

100

Retained earnings

795,369

770,444

Shareholders' funds

 

795,469

770,544

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 November 2023
 

Mr Arthur John Rymer

Director

 

J & N Rymer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

J & N Rymer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Judgements and estimates

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

J & N Rymer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Basic Financial Assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs 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.

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.
 

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, including trade and other payables, 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 receipts discounted at a market rate of interest.

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

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

J & N Rymer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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 or 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 asserts 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.
 

Other Financial Liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of Financial Liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
 

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition.

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.

 

J & N Rymer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 1).

4

Debtors

2023
£

2022
£

Due within one year

Current account in related partnership of J & N Rymer

79,476

48,891

Due after more than one year

Capital account in related partnership of J & N Rymer

725,000

725,000

804,476

773,891

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

(330)

(330)

Taxation and social security

9,605

3,946

Accruals and deferred income

450

450

Other creditors

-

(1)

9,725

4,065

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

70

70

70

70

Ordinary B of £1 each

30

30

30

30

 

100

100

100

100