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REGISTERED NUMBER: 04188951 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Ride-On Ltd

Ride-On Ltd (Registered number: 04188951)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ride-On Ltd

Company Information
for the year ended 30 June 2023







DIRECTORS: C M Robertson
Mrs P Robertson





SECRETARY: Mrs P Robertson





REGISTERED OFFICE: 213/215 Bacup Road
Rawenstall
Rossendale
BB4 7PA





REGISTERED NUMBER: 04188951 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Ride-On Ltd (Registered number: 04188951)

Abridged Balance Sheet
30 June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,445 24,078
20,445 24,078

CURRENT ASSETS
Stocks 167,092 164,108
Debtors 1,689 11,135
Cash at bank and in hand 37,255 25,938
206,036 201,181
CREDITORS
Amounts falling due within one year 123,114 111,547
NET CURRENT ASSETS 82,922 89,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,367

113,712

CREDITORS
Amounts falling due after more than one
year

(70,752

)

(80,743

)

PROVISIONS FOR LIABILITIES (2,248 ) (2,798 )
NET ASSETS 30,367 30,171

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 30,365 30,169
SHAREHOLDERS' FUNDS 30,367 30,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ride-On Ltd (Registered number: 04188951)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





C M Robertson - Director


Ride-On Ltd (Registered number: 04188951)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Ride-On Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company operates a retail shop for the sale of cycles and certain related products. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card. Sales are made to retail customers with a right to return within 28 days, subject to certain conditions regarding the usage. Accumulated experience is used to estimate and provide for such returns at the time of sale. The company does not operate any loyalty programmes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

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.


Ride-On Ltd (Registered number: 04188951)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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 year 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 45,901
AMORTISATION
At 1 July 2022
and 30 June 2023 45,901
NET BOOK VALUE

At 30 June 2023 -
At 30 June 2022 -

Ride-On Ltd (Registered number: 04188951)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 94,171
Additions 267
At 30 June 2023 94,438
DEPRECIATION
At 1 July 2022 70,093
Charge for year 3,900
At 30 June 2023 73,993
NET BOOK VALUE
At 30 June 2023 20,445
At 30 June 2022 24,078

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
2 Ordinary £1 2 2