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Registration number: 10466865

Ryder Brands Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Ryder Brands Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Ryder Brands Ltd

(Registration number: 10466865)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,192

2,401

Current assets

 

Debtors

6

26,360

28,990

Cash at bank and in hand

 

39,026

13,938

 

65,386

42,928

Creditors: Amounts falling due within one year

7

(35,617)

(21,329)

Net current assets

 

29,769

21,599

Total assets less current liabilities

 

32,961

24,000

Creditors: Amounts falling due after more than one year

7

-

(4,133)

Provisions for liabilities

(606)

(456)

Net assets

 

32,355

19,411

Capital and reserves

 

Called up share capital

20

20

Retained earnings

32,335

19,391

Shareholders' funds

 

32,355

19,411

For the financial year ending 31 December 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.

Approved and authorised by the director on 20 February 2024
 

 

Ryder Brands Ltd

(Registration number: 10466865)
Balance Sheet as at 31 December 2023

.........................................
Mr J M Ryder
Director

 

Ryder Brands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Hilltop Farm
Reas Lane
Marton Cum Grafton
York
YO51 9QB

These financial statements were authorised for issue by the director on 20 February 2024.

2

Accounting policies

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.

Going concern

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

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

 

Ryder Brands Ltd

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33.33% Straight Line

Plant & Machinery

33.33% Straight Line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Ryder Brands Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,204

714

 

Ryder Brands Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

3,115

-

3,115

Additions

-

1,995

1,995

At 31 December 2023

3,115

1,995

5,110

Depreciation

At 1 January 2023

714

-

714

Charge for the year

1,038

166

1,204

At 31 December 2023

1,752

166

1,918

Carrying amount

At 31 December 2023

1,363

1,829

3,192

At 31 December 2022

2,401

-

2,401

6

Debtors

Current

2023
£

2022
£

Trade debtors

486

27,352

Prepayments

692

690

Other debtors

25,182

948

 

26,360

28,990

 

Ryder Brands Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

7,164

2,456

trade creditors

 

311

586

Taxation and social security

 

45

-

Accruals and deferred income

 

454

-

Other creditors

 

27,643

18,287

 

35,617

21,329

 

Ryder Brands Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

4,133

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

4,133

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

1,600

Directors loan account

7,164

856

7,164

2,456