2023-07-012024-06-302024-06-30false03218118RANGE RIGHT 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RANGE RIGHT LIMITED

Registered Number
03218118
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

RANGE RIGHT LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

PETERS, Gillian Margaret
PETERS, Jake Francis
SAVILLE, Robert Eric

Registered Address

Unit 4 Freemans Way
Harrogate Business Park, Wetherby Road
Harrogate
HG3 1DH

Registered Number

03218118 (England and Wales)
RANGE RIGHT LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38791,899
8791,899
Current assets
Stocks41,265,8271,335,547
Debtors5609,734598,245
1,875,5611,933,792
Creditors amounts falling due within one year6(1,240,096)(1,293,212)
Net current assets (liabilities)635,465640,580
Total assets less current liabilities636,344642,479
Creditors amounts falling due after one year7(9,167)(19,167)
Provisions for liabilities8-(980)
Net assets627,177622,332
Capital and reserves
Called up share capital110110
Share premium7,6547,654
Profit and loss account619,413614,568
Shareholders' funds627,177622,332
The financial statements were approved and authorised for issue by the Board of Directors on 10 September 2024, and are signed on its behalf by:
PETERS, Gillian Margaret
Director
Registered Company No. 03218118
RANGE RIGHT LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the director, shareholders and creditors therefore continue to adopt the going concern basis of accounting in preparing financial statements.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings10
Plant and machinery5
Fixtures and fittings5
Office Equipment2
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
2.Average number of employees

20242023
Average number of employees during the year1312
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 July 235,40810,04224,93516,33856,723
At 30 June 245,40810,04224,93516,33856,723
Depreciation and impairment
At 01 July 235,4088,24424,83416,33854,824
Charge for year-919101-1,020
At 30 June 245,4089,16324,93516,33855,844
Net book value
At 30 June 24-879--879
At 30 June 23-1,798101-1,899
4.Stocks

2024

2023

££
Raw materials and consumables1,265,8271,335,547
Total1,265,8271,335,547
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables595,447583,702
Other debtors12,03012,286
Prepayments and accrued income2,2572,257
Total609,734598,245
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.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables386,127610,341
Bank borrowings and overdrafts183,86510,000
Taxation and social security174,928124,236
Other creditors469,340519,802
Accrued liabilities and deferred income25,83628,833
Total1,240,0961,293,212
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. The following amounts included within creditors, amounts falling due within one year, are secured: Other creditors £105,658 (2023 - £125,166)
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,16719,167
Total9,16719,167
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-980
Total-980
9.Pension commitments
The company operates a defined contribution scheme. The assets are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £47,762 (2023 - £40,640).
10.Other commitments
At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £28,800 (2023 - £28,800) Later than 1 year and not later than 5 years £40,800 (2023 - £69,600)
11.Related party transactions
Included within other creditors, is an amount of £327,500 (2023 - £342,500) due to Mrs G M Peters. The balance is interest free and repayable on demand.