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COMPANY REGISTRATION NUMBER: 10798210
Ryehill Sporting Ltd
Filleted Unaudited Financial Statements
30 June 2024
Ryehill Sporting Ltd
Financial Statements
Year ended 30 June 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 6
Ryehill Sporting Ltd
Balance Sheet
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
6,076,998
6,152,998
Current assets
Debtors
6
101,875
96,956
Cash at bank and in hand
7,651
33,500
---------
---------
109,526
130,456
Creditors: amounts falling due within one year
7
8,487,269
8,466,362
------------
------------
Net current liabilities
8,377,743
8,335,906
------------
------------
Total assets less current liabilities
( 2,300,745)
( 2,182,908)
------------
------------
Net liabilities
( 2,300,745)
( 2,182,908)
------------
------------
Capital and reserves
Called up share capital
200
200
Profit and loss account
( 2,300,945)
( 2,183,108)
------------
------------
Shareholders deficit
( 2,300,745)
( 2,182,908)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit & loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ryehill Sporting Ltd
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr T A E Middleham
Director
Company registration number: 10798210
Ryehill Sporting Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Littlehales House, Chetwynd Aston, Newport, Shropshire, TF10 9AW. The company registration number is 10798210 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £. At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Office equipment
-
25% straight line
Freehold property - 2% straight line Land is not depreciated.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
5,915,743
843,363
240,319
2,126
7,001,551
Additions
28,099
28,099
Disposals
( 52,088)
( 52,088)
------------
---------
---------
-------
------------
At 30 June 2024
5,915,743
819,374
240,319
2,126
6,977,562
------------
---------
---------
-------
------------
Depreciation
At 1 July 2023
714,883
131,768
1,902
848,553
Charge for the year
53,788
39,789
104
93,681
Disposals
( 41,670)
( 41,670)
------------
---------
---------
-------
------------
At 30 June 2024
727,001
171,557
2,006
900,564
------------
---------
---------
-------
------------
Carrying amount
At 30 June 2024
5,915,743
92,373
68,762
120
6,076,998
------------
---------
---------
-------
------------
At 30 June 2023
5,915,743
128,480
108,551
224
6,152,998
------------
---------
---------
-------
------------
6. Debtors
2024
2023
£
£
Other debtors
101,875
96,956
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
( 620)
Social security and other taxes
1,077
2,920
Other creditors
8,486,812
8,463,442
------------
------------
8,487,269
8,466,362
------------
------------