IRIS Accounts Production v23.3.1.45 07005916 director 1.10.21 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070059162021-09-30070059162023-03-31070059162021-10-012023-03-31070059162020-09-30070059162020-10-012021-09-30070059162021-09-3007005916ns10:Originalns15:EnglandWales2021-10-012023-03-3107005916ns14:PoundSterlingns10:Original2021-10-012023-03-3107005916ns10:Originalns10:Director12021-10-012023-03-3107005916ns10:Original2021-10-012023-03-3107005916ns10:Original2023-03-3107005916ns10:Originalns10:PrivateLimitedCompanyLtd2021-10-012023-03-3107005916ns10:Originalns10:SmallEntities2021-10-012023-03-3107005916ns10:Originalns10:AuditExempt-NoAccountantsReport2021-10-012023-03-3107005916ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2021-10-012023-03-3107005916ns10:SmallCompaniesRegimeForAccountsns10:Original2021-10-012023-03-3107005916ns10:Originalns10:FullAccounts2021-10-012023-03-3107005916ns10:Originalns10:RegisteredOffice2021-10-012023-03-3107005916ns10:Original2021-09-3007005916ns10:Originalns5:CurrentFinancialInstruments2023-03-3107005916ns10:Originalns5:CurrentFinancialInstruments2021-09-3007005916ns10:Originalns5:Non-currentFinancialInstruments2023-03-3107005916ns10:Originalns5:Non-currentFinancialInstruments2021-09-3007005916ns5:ShareCapitalns10:Original2023-03-3107005916ns5:ShareCapitalns10:Original2021-09-3007005916ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3107005916ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-09-3007005916ns10:Originalns5:PlantMachinery2021-10-012023-03-3107005916ns10:Originalns5:FurnitureFittings2021-10-012023-03-3107005916ns10:Originalns5:MotorVehicles2021-10-012023-03-3107005916ns10:Originalns5:ComputerEquipment2021-10-012023-03-3107005916ns10:Original2020-10-012021-09-3007005916ns10:Originalns5:PlantMachinery2021-09-3007005916ns10:Originalns5:PlantMachinery2023-03-3107005916ns10:Originalns5:PlantMachinery2021-09-3007005916ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-09-3007005916ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-10-012023-03-3107005916ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3107005916ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-09-3007005916ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107005916ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-09-3007005916ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3107005916ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2021-09-3007005916ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107005916ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-09-3007005916ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-03-3107005916ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2021-09-3007005916ns10:Originalns5:HirePurchaseContracts2023-03-3107005916ns10:Originalns5:HirePurchaseContracts2021-09-3007005916ns10:Originalns5:WithinOneYear2023-03-3107005916ns10:Originalns5:WithinOneYear2021-09-3007005916ns5:BetweenOneFiveYearsns10:Original2023-03-3107005916ns5:BetweenOneFiveYearsns10:Original2021-09-3007005916ns10:Originalns5:AllPeriods2023-03-3107005916ns10:Originalns5:AllPeriods2021-09-3007005916ns5:Securedns10:Original2023-03-3107005916ns5:Securedns10:Original2021-09-3007005916ns10:Original1ns10:Director12021-09-3007005916ns10:Original1ns10:Director12020-09-3007005916ns10:Original1ns10:Director12021-10-012023-03-3107005916ns10:Original1ns10:Director12020-10-012021-09-3007005916ns10:Original1ns10:Director12023-03-3107005916ns10:Original1ns10:Director12021-09-30
REGISTERED NUMBER: 07005916 (England and Wales)

















RYEBRIDGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023






RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RYEBRIDGE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023







DIRECTOR: D J Coyle





REGISTERED OFFICE: Unit 4 Barratt Industrial Estate
Airport Way
Luton
Bedfordshire
LU2 9NH





REGISTERED NUMBER: 07005916 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

BALANCE SHEET
31 MARCH 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 513,938 303,854

CURRENT ASSETS
Stocks 150,000 127,500
Debtors 5 10,682,138 4,672,264
Cash at bank 82,882 45,651
10,915,020 4,845,415
CREDITORS
Amounts falling due within one year 6 11,115,396 4,297,360
NET CURRENT (LIABILITIES)/ASSETS (200,376 ) 548,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,562

851,909

CREDITORS
Amounts falling due after more than one year 7 (628,514 ) (750,000 )

PROVISIONS FOR LIABILITIES (24,664 ) (46,193 )
NET (LIABILITIES)/ASSETS (339,616 ) 55,716

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (339,716 ) 55,616
SHAREHOLDERS' FUNDS (339,616 ) 55,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





D J Coyle - Director


RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

1. STATUTORY INFORMATION

Ryebridge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
As the company's results reveal, it was severely affected by the Covid-19 pandemic. However, the director believes that its current and anticipated projects will allow it to trade for at least the next twelve months and so these accounts have again been prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
The company provides construction services and recognises income in its accounts when it is entitled to that income, whether invoiced or not, recorded at the fair value of the consideration received or receivable. If the income is not invoiced during the year, the appropriate amount is included in the balance sheet, under debtors, as 'amounts recoverable on contracts'. Turnover excludes discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at varying rates
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government grants have been accounted for under the accrual model, recognised as other income against the period to which they relate. There were no unfulfilled conditions or contingencies attached to the grant.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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, which include debtors, 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.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 (2021 - 20 ) .

RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021 1,069,020
Additions 443,050
Disposals (36,005 )
At 31 March 2023 1,476,065
DEPRECIATION
At 1 October 2021 765,166
Charge for period 213,875
Eliminated on disposal (16,914 )
At 31 March 2023 962,127
NET BOOK VALUE
At 31 March 2023 513,938
At 30 September 2021 303,854

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2021 480,780
Additions 278,826
At 31 March 2023 759,606
DEPRECIATION
At 1 October 2021 278,414
Charge for period 45,004
At 31 March 2023 323,418
NET BOOK VALUE
At 31 March 2023 436,188
At 30 September 2021 202,366

5. DEBTORS
2023 2021
£    £   
Amounts falling due within one year:
Trade debtors 2,244,580 1,168,309
Amounts recoverable
on contracts 4,823,334 1,226,831
Other debtors 582,239 791,882
7,650,153 3,187,022

RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

5. DEBTORS - continued
2023 2021
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 2,017,241 710,734
Other debtors 1,014,744 774,508
3,031,985 1,485,242

Aggregate amounts 10,682,138 4,672,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 386,768 249,584
Hire purchase contracts (see note 8) 32,322 91,773
Trade creditors 8,373,693 2,682,213
Taxation and social security 2,224,005 1,042,378
Other creditors 98,608 231,412
11,115,396 4,297,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 450,000 750,000
Hire purchase contracts (see note 8) 178,514 -
628,514 750,000

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2021
£    £   
Net obligations repayable:
Within one year 32,322 91,773
Between one and five years 178,514 -
210,836 91,773

Non-cancellable operating leases
2023 2021
£    £   
Within one year 55,500 -
Between one and five years 166,500 -
222,000 -

RYEBRIDGE LIMITED (REGISTERED NUMBER: 07005916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2021
£    £   
Bank overdrafts 49,268 49,584
Bank loans 787,500 950,000
Hire purchase contracts 210,836 91,773
1,047,604 1,091,357

The bank loan and overdraft are secured by a fixed and floating charge over the company's assets and on a residential property owned by the director and his wife.

The hire purchase liabilities are secured on the assets concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
Value: £ £

60 Ordinary A £1 60 60
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
10 Ordinary E £1 10 10
100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2023 and the year ended 30 September 2021:

2023 2021
£    £   
D J Coyle
Balance outstanding at start of period 548,412 256,335
Amounts advanced 1,269,768 292,077
Amounts repaid (1,517,528 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 300,652 548,412

During the period the company charged interest of £40,652 (2021: £9,279) on the loan at the rate of 2.75% (2021: 2.25%) per annum.