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Registered number: 10569940
Ryedale Joinery Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Minford Accountants
Moyola House, 31 Hawthorn Grove
York
YO31 7YA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10569940
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 45,000 60,000
Tangible Assets 5 192,862 120,412
237,862 180,412
CURRENT ASSETS
Stocks 6 48,500 48,313
Debtors 7 14,595 2,229
Cash at bank and in hand 153,940 247,661
217,035 298,203
Creditors: Amounts Falling Due Within One Year 8 (203,705 ) (252,623 )
NET CURRENT ASSETS (LIABILITIES) 13,330 45,580
TOTAL ASSETS LESS CURRENT LIABILITIES 251,192 225,992
Creditors: Amounts Falling Due After More Than One Year 9 (16,270 ) (29,937 )
NET ASSETS 234,922 196,055
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 234,822 195,955
SHAREHOLDERS' FUNDS 234,922 196,055
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Stronach
Director
30th June 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ryedale Joinery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10569940 . The registered office is Unit 9b Beansheaf Industrial Park, Tofts Road, Kirby Misperton, N. Yorks, YO17 6BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance method
Motor Vehicles 25% Reducing balance method
Fixtures & Fittings 20% Reducing balance method
Computer Equipment 33% Straight line method
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 15)
15 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 150,000
As at 30 November 2023 150,000
Amortisation
As at 1 December 2022 90,000
Provided during the period 15,000
As at 30 November 2023 105,000
Net Book Value
As at 30 November 2023 45,000
As at 1 December 2022 60,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 101,654 79,994 30,008 8,994 220,650
Additions 84,575 - 38,224 2,359 125,158
As at 30 November 2023 186,229 79,994 68,232 11,353 345,808
...CONTINUED
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Depreciation
As at 1 December 2022 42,417 32,585 18,127 7,109 100,238
Provided during the period 28,762 11,852 10,021 2,073 52,708
As at 30 November 2023 71,179 44,437 28,148 9,182 152,946
Net Book Value
As at 30 November 2023 115,050 35,557 40,084 2,171 192,862
As at 1 December 2022 59,237 47,409 11,881 1,885 120,412
6. Stocks
2023 2022
£ £
Stock 5,000 5,000
Work in progress 43,500 43,313
48,500 48,313
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,595 2,229
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,647 9,323
Trade creditors 36,338 30,957
Bank loans and overdrafts 10,760 10,000
Other creditors 99,840 126,974
Taxation and social security 53,120 75,369
203,705 252,623
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,425 4,572
Bank loans 14,845 25,365
16,270 29,937
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,647 9,323
Later than one year and not later than five years 1,425 4,572
5,072 13,895
5,072 13,895
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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