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REGISTERED NUMBER: 02222509 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

RYDER TOWING EQUIPMENT LIMITED

RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


RYDER TOWING EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr D A Ryder
Mrs J Spencer



SECRETARY: Mr D A Ryder



REGISTERED OFFICE: 1 Chadwick Block
Bracewell Avenue
Poulton-Le-Fylde
Lancashire
FY6 8JF



REGISTERED NUMBER: 02222509 (England and Wales)



ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH



BANKERS: Lloyds TSB Bank plc
King Street
Manchester
M60 2ES

RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,687 32,499

CURRENT ASSETS
Stocks 183,598 176,544
Debtors 5 56,770 78,073
Cash at bank 32,702 23,463
273,070 278,080
CREDITORS
Amounts falling due within one year 6 186,648 172,836
NET CURRENT ASSETS 86,422 105,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,109

137,743

CREDITORS
Amounts falling due after more than one
year

7

(18,030

)

(30,757

)

PROVISIONS FOR LIABILITIES (6,226 ) (5,350 )
NET ASSETS 98,853 101,636

CAPITAL AND RESERVES
Called up share capital 9 42,000 42,000
Retained earnings 56,853 59,636
SHAREHOLDERS' FUNDS 98,853 101,636

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th September 2024 and were signed on its behalf by:





Mr D A Ryder - Director


RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Ryder Towing Equipment 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.

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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals under operating leases are charged to the profit and loss account as incurred.

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.

RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 127,889
Additions 9,180
At 31st December 2023 137,069
DEPRECIATION
At 1st January 2023 95,390
Charge for year 4,992
At 31st December 2023 100,382
NET BOOK VALUE
At 31st December 2023 36,687
At 31st December 2022 32,499

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,922 76,569
Prepayments 3,848 1,504
56,770 78,073

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,727 12,727
Other loans 11,398 -
Trade creditors 77,389 59,593
Corporation tax 2,969 17,309
Social security and other taxes 2,571 2,050
CT61 tax - 1,200
VAT 2,731 6,294
Other creditors 749 920
Advances from factors 37,063 33,945
Directors' loan accounts 32,807 32,807
Accrued expenses 6,244 5,991
186,648 172,836

RYDER TOWING EQUIPMENT LIMITED (REGISTERED NUMBER: 02222509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 12,727 12,727
Bank loans - 2-5 years 5,303 18,030
18,030 30,757

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 30,757 43,484
Advances from factors 37,063 33,945
67,820 77,429

Advances from factors are secured on trade debtors and other assets of the company.

9. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid
Number Class Nominal 31/12/21 31/12/20
Value

5,040 Ordinary 'A' £1 5,040 5.040
21,420 Ordinary 'B' £1 21,420 21,420
11,760 Ordinary 'C' £1 11,760 13,020
1,260 Ordinary 'D' £1 1,260 1,260
2,520 Ordinary 'E' £1 2,520 1,260


42,000 42,000