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REGISTERED NUMBER: 03755962 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Tim Ruff Limited

Tim Ruff Limited (Registered number: 03755962)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tim Ruff Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr T J Ruff
Mrs C L Ruff





SECRETARY: Mrs C L Ruff





REGISTERED OFFICE: 28 Bagdale
Whitby
North Yorkshire
YO21 1QL





REGISTERED NUMBER: 03755962 (England and Wales)





ACCOUNTANTS: Philip Burley & Co
Chartered Accountants
28 Bagdale
Whitby
North Yorkshire
YO21 1QL

Tim Ruff Limited (Registered number: 03755962)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 195,074 202,557

CURRENT ASSETS
Stocks 108,568 99,487
Debtors 5 57,548 6,868
Cash at bank and in hand 73,475 169,320
239,591 275,675
CREDITORS
Amounts falling due within one year 6 22,577 35,823
NET CURRENT ASSETS 217,014 239,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

412,088

442,409

PROVISIONS FOR LIABILITIES 7 9,576 10,998
NET ASSETS 402,512 431,411

CAPITAL AND RESERVES
Called up share capital 500 500
Share premium 136,417 136,417
Retained earnings 265,595 294,494
SHAREHOLDERS' FUNDS 402,512 431,411

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

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

Tim Ruff Limited (Registered number: 03755962)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2024 and were signed on its behalf by:




Mr T J Ruff - Director



Mrs C L Ruff - Director


Tim Ruff Limited (Registered number: 03755962)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Tim Ruff 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.
Leasehold fixtures & fittings - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Tim Ruff Limited (Registered number: 03755962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
Long fixtures and
leasehold & fittings fittings
£    £    £   
COST
At 1 January 2023 144,675 26,004 44,219
Additions - - 1,019
At 31 December 2023 144,675 26,004 45,238
DEPRECIATION
At 1 January 2023 - 20,650 19,498
Charge for year - 535 2,574
At 31 December 2023 - 21,185 22,072
NET BOOK VALUE
At 31 December 2023 144,675 4,819 23,166
At 31 December 2022 144,675 5,354 24,721

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 42,995 3,580 261,473
Additions - 600 1,619
At 31 December 2023 42,995 4,180 263,092
DEPRECIATION
At 1 January 2023 15,478 3,290 58,916
Charge for year 5,503 490 9,102
At 31 December 2023 20,981 3,780 68,018
NET BOOK VALUE
At 31 December 2023 22,014 400 195,074
At 31 December 2022 27,517 290 202,557

Tim Ruff Limited (Registered number: 03755962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 57,548 6,868

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 44 1,452
Trade creditors 1,905 1,564
Taxation and social security 18,366 29,538
Other creditors 2,262 3,269
22,577 35,823

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 9,576 10,998

Deferred
tax
£   
Balance at 1 January 2023 10,998
Credit to Income Statement during year (1,422 )
Balance at 31 December 2023 9,576

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr T J Ruff
Balance outstanding at start of year - -
Amounts advanced 94,736 -
Amounts repaid (40,673 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,063 -