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REGISTERED NUMBER: SC061596 (Scotland)















Financial Statements For The Year Ended 31 January 2024

for

Ride On Motorcycles Limited

Ride On Motorcycles Limited (Registered number: SC061596)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Ride On Motorcycles Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: Mrs C Hutchison
A W R Hutchison
Mrs C S Lafferty





SECRETARY: Mrs C Hutchison





REGISTERED OFFICE: South Auchenbrain Farm
Mauchline
KA5 6JL





REGISTERED NUMBER: SC061596 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Ride On Motorcycles Limited (Registered number: SC061596)

Abridged Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,402 46,992
Investment property 5 222,972 222,972
269,374 269,964

CURRENT ASSETS
Debtors 2,853 5,973
Cash at bank 225,688 282,477
228,541 288,450
CREDITORS
Amounts falling due within one year 20,373 52,535
NET CURRENT ASSETS 208,168 235,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,542

505,879

PROVISIONS FOR LIABILITIES 10,214 7,736
NET ASSETS 467,328 498,143

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 24,725 24,725
Retained earnings 441,603 472,418
467,328 498,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Ride On Motorcycles Limited (Registered number: SC061596)

Abridged Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs C Hutchison - Director


Ride On Motorcycles Limited (Registered number: SC061596)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Ride On Motorcycles Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Improvements to property - 2% on cost
Fixed plant and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Trademarks - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Ride On Motorcycles Limited (Registered number: SC061596)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 58,015
Additions 708
Disposals (206 )
At 31 January 2024 58,517
DEPRECIATION
At 1 February 2023 11,023
Charge for year 1,211
Eliminated on disposal (119 )
At 31 January 2024 12,115
NET BOOK VALUE
At 31 January 2024 46,402
At 31 January 2023 46,992

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 222,972
NET BOOK VALUE
At 31 January 2024 222,972
At 31 January 2023 222,972

Investment property has been valued by the directors who feels this reflects an accurate position at the balance sheet date.