Rider Comms Limited 03337259 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the design and supply of telecommunications equipment Digita Accounts Production Advanced 6.30.9574.0 true 03337259 2023-04-01 2024-03-31 03337259 2024-03-31 03337259 bus:OrdinaryShareClass1 2024-03-31 03337259 core:CapitalRedemptionReserve 2024-03-31 03337259 core:RetainedEarningsAccumulatedLosses 2024-03-31 03337259 core:ShareCapital 2024-03-31 03337259 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 03337259 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 03337259 core:CurrentFinancialInstruments 2024-03-31 03337259 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03337259 core:Non-currentFinancialInstruments 2024-03-31 03337259 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03337259 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 03337259 core:MoreThanFiveYears 1 2024-03-31 03337259 core:ConstructionInProgressAssetsUnderConstruction 2024-03-31 03337259 core:FurnitureFittingsToolsEquipment 2024-03-31 03337259 core:LandBuildings 2024-03-31 03337259 core:MotorVehicles 2024-03-31 03337259 core:OtherPropertyPlantEquipment 2024-03-31 03337259 bus:SmallEntities 2023-04-01 2024-03-31 03337259 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03337259 bus:FilletedAccounts 2023-04-01 2024-03-31 03337259 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03337259 bus:RegisteredOffice 2023-04-01 2024-03-31 03337259 bus:CompanySecretary1 2023-04-01 2024-03-31 03337259 bus:Director1 2023-04-01 2024-03-31 03337259 bus:Director2 2023-04-01 2024-03-31 03337259 bus:Director5 2023-04-01 2024-03-31 03337259 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03337259 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03337259 bus:Agent1 2023-04-01 2024-03-31 03337259 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 03337259 core:Buildings 2023-04-01 2024-03-31 03337259 core:ComputerEquipment 2023-04-01 2024-03-31 03337259 core:ConstructionInProgressAssetsUnderConstruction 2023-04-01 2024-03-31 03337259 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03337259 core:LandBuildings 2023-04-01 2024-03-31 03337259 core:LeaseholdImprovements 2023-04-01 2024-03-31 03337259 core:MotorVehicles 2023-04-01 2024-03-31 03337259 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03337259 core:PlantMachinery 2023-04-01 2024-03-31 03337259 countries:AllCountries 2023-04-01 2024-03-31 03337259 2023-03-31 03337259 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03337259 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 03337259 core:FurnitureFittingsToolsEquipment 2023-03-31 03337259 core:LandBuildings 2023-03-31 03337259 core:MotorVehicles 2023-03-31 03337259 core:OtherPropertyPlantEquipment 2023-03-31 03337259 2022-04-01 2023-03-31 03337259 2023-03-31 03337259 bus:OrdinaryShareClass1 2023-03-31 03337259 core:CapitalRedemptionReserve 2023-03-31 03337259 core:RetainedEarningsAccumulatedLosses 2023-03-31 03337259 core:ShareCapital 2023-03-31 03337259 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 03337259 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 03337259 core:CurrentFinancialInstruments 2023-03-31 03337259 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03337259 core:Non-currentFinancialInstruments 2023-03-31 03337259 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03337259 core:MoreThanFiveYears 1 2023-03-31 03337259 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 03337259 core:FurnitureFittingsToolsEquipment 2023-03-31 03337259 core:LandBuildings 2023-03-31 03337259 core:MotorVehicles 2023-03-31 03337259 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

File copy

Registration number: 03337259

Rider Comms Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Rider Comms Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Rider Comms Limited

Company Information

Directors

S A Rider

N Rider

A W Rider

Company secretary

J C R Batty

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank plc
The Welwyn Group
12/12A Howard Centre
Welwyn Garden City
Hertfordshire
AL8 6HA

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Rider Comms Limited

(Registration number: 03337259)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

550,417

656,038

Current assets

 

Stocks

6

98,081

103,081

Debtors

7

990,185

1,050,178

Cash at bank and in hand

 

480,208

208,437

 

1,568,474

1,361,696

Creditors: Amounts falling due within one year

8

(666,139)

(588,494)

Net current assets

 

902,335

773,202

Total assets less current liabilities

 

1,452,752

1,429,240

Creditors: Amounts falling due after more than one year

8

(207,385)

(278,688)

Provisions for liabilities

(53,330)

(79,259)

Net assets

 

1,192,037

1,071,293

Capital and reserves

 

Called up share capital

9

137

137

Capital redemption reserve

8

8

Retained earnings

1,191,892

1,071,148

Shareholders' funds

 

1,192,037

1,071,293

For the financial year ended 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2024 and signed on its behalf by:
 

A W Rider
Director

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

The principal place of business is: Silks House, 112 South Street, Braintree, Essex, CM7 3QQ.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the design or supply of telecommunications equipment in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% Straight line method

Plant and machinery

25% Reducing balance method

Motor vehicles

25% Reducing balance method

Office Equipment, fixtures & fittings

50% Straight line method, 25% reducing balance

Improvements to property

4% Straight line method

Development costs

The amount paid in connection with the development of software used in connection with telecommunication equipment. The assets are carried at the costs less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. Full amortisation has been charged where a product will not go into production

Asset class

Amortisation method and rate

Development Costs

Amortised evenly over 5/10/15/20 year periods

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for the design and supply of telecommunications equipment.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Long term employee benefits

The holiday year for Rider Comms Limited ends at 31 December 2024.

Any unused holiday can only be carried forward at the discretion of the directors. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 April 2023

344,196

344,196

At 31 March 2024

344,196

344,196

Amortisation

At 1 April 2023

344,196

344,196

At 31 March 2024

344,196

344,196

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Office Equipment, Fixtures and fittings
£

Motor vehicles
 £

Improvements to property
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 April 2023

391,907

100,537

433,570

39,900

13,244

979,158

Additions

-

3,534

76,066

-

-

79,600

Disposals

-

(38,160)

(173,600)

-

(1,294)

(213,054)

At 31 March 2024

391,907

65,911

336,036

39,900

11,950

845,704

Depreciation

At 1 April 2023

52,907

88,260

163,719

10,231

8,004

323,121

Charge for the year

7,839

4,636

58,101

1,596

1,310

73,482

Eliminated on disposal

-

(38,150)

(61,952)

-

(1,214)

(101,316)

At 31 March 2024

60,746

54,746

159,868

11,827

8,100

295,287

Carrying amount

At 31 March 2024

331,161

11,165

176,168

28,073

3,850

550,417

At 31 March 2023

339,000

12,277

269,851

29,669

5,241

656,038

Included within the net book value of land and buildings above is £331,161 (2023 - £339,000) in respect of freehold land and buildings.

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

6

Stocks

2024
£

2023
£

Other inventories

98,081

103,081

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

967,117

1,017,409

Directors loan account

-

17,412

Other debtors

 

8,160

1,610

Prepayments

 

14,908

13,747

 

990,185

1,050,178

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

325,758

360,629

Loans and borrowings

10

43,142

47,108

Other creditors

 

11,633

6,298

Taxation and social security

 

278,924

122,036

Accruals and deferred income

 

6,682

52,423

 

666,139

588,494


Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £41,752 (2023 - £47,108).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

207,385

278,688

2024
£

2023
£

Due after more than five years

After more than five years by instalments

91,331

101,602

-

-

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £208,776 (2023 - £276,668).

 

Rider Comms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

137

137

137

137

         

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

14,111

13,226

Hire purchase contracts

29,031

33,882

43,142

47,108

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

140,825

154,508

Hire purchase contracts

66,560

124,180

207,385

278,688

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

Bank loans of £84,377 (2023 - £101,602)