Registered number
09874731
Ride Expeditions Limited
Filleted Accounts
30 November 2023
Ride Expeditions Limited
Registered number: 09874731
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,944 8,370
Current assets
Stocks 1,384 -
Debtors 4 1,435,207 1,191,003
Cash at bank and in hand 188,674 322,068
1,625,265 1,513,071
Creditors: amounts falling due within one year 5 (1,542,490) (1,521,339)
Net current assets/(liabilities) 82,775 (8,268)
Total assets less current liabilities 99,719 102
Creditors: amounts falling due after more than one year 6 (15,833) (25,833)
Provisions for liabilities (854) (854)
Net assets/(liabilities) 83,032 (26,585)
Capital and reserves
Called up share capital 2 2
Profit and loss account 83,030 (26,587)
Shareholders' funds 83,032 (26,585)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T A Jacobs
Director
Approved by the board on 28 March 2024
Ride Expeditions Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 14,515 5,625 20,140
Additions 2,856 10,560 13,416
At 30 November 2023 17,371 16,185 33,556
Depreciation
At 1 December 2022 9,309 2,461 11,770
Charge for the year 1,411 3,431 4,842
At 30 November 2023 10,720 5,892 16,612
Net book value
At 30 November 2023 6,651 10,293 16,944
At 30 November 2022 5,206 3,164 8,370
4 Debtors 2023 2022
£ £
Trade debtors 1,013,976 1,022,143
Other debtors 421,231 168,860
1,435,207 1,191,003
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 93,105 42,652
Director's loan account 25,110 43,037
Taxation and social security costs 20,052 10
Other creditors 1,394,223 1,425,640
1,542,490 1,521,339
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,833 25,833
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 25,833 35,833
8 Controlling party
No single party is considered to have overall control.
9 Other information
Ride Expeditions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ebenezer House
5A Poole Road
Bournemouth
Dorset
BH2 5QJ
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