Company Registration No. 13219067 (England and Wales)
RYD Brand United Kingdom Ltd
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
RYD Brand United Kingdom Ltd
Unaudited accounts
Contents
RYD Brand United Kingdom Ltd
Company Information
for the period from 1 March 2023 to 28 February 2024
Directors
Alexander John Munro
Simon Nicholson
Company Number
13219067 (England and Wales)
Registered Office
3 Exmoor House
Chivenor Business Park
Barnstaple
EX31 4AY
England
RYD Brand United Kingdom Ltd
Statement of financial position
as at 28 February 2024
Tangible assets
15,680
22,941
Inventories
428,108
492,692
Cash at bank and in hand
412
1,464
Creditors: amounts falling due within one year
(8,942)
(293,686)
Net current assets
431,179
216,061
Total assets less current liabilities
446,859
239,002
Creditors: amounts falling due after more than one year
(674,637)
(403,106)
Net liabilities
(227,778)
(164,104)
Called up share capital
120
120
Profit and loss account
(227,898)
(164,224)
Shareholders' funds
(227,778)
(164,104)
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by
Simon Nicholson
Director
Company Registration No. 13219067
RYD Brand United Kingdom Ltd
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
RYD Brand United Kingdom Ltd is a private company, limited by shares, registered in England and Wales, registration number 13219067. The registered office is 3 Exmoor House, Chivenor Business Park, Barnstaple, EX31 4AY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Fixtures & fittings
20% straight line
Computer equipment
33.33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Due to ongoing financial support from the shareholder and directors, the Directors are of the opinion that the company is a going concern.
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
RYD Brand United Kingdom Ltd
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2023
233
28,000
1,793
503
30,529
At 28 February 2024
233
28,000
1,793
944
30,970
At 1 March 2023
49
6,827
377
335
7,588
Charge for the period
46
7,000
359
297
7,702
At 28 February 2024
95
13,827
736
632
15,290
At 28 February 2024
138
14,173
1,057
312
15,680
At 28 February 2023
184
21,173
1,416
168
22,941
Finished goods
428,108
492,692
Amounts falling due within one year
RYD Brand United Kingdom Ltd
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
7,102
293,186
Loans from directors
-
500
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
674,637
356,719
Loans from directors
-
46,387
Other Creditors relates to loans received from the following companies:
- RYD Brand International (Pty) Ltd: £ 310,290 (2023: £ 356,719)
- Munro Multi Ventures (Pty) Ltd £ 364,347 (2023: £ 0)
The loans are unsecured, interest free and have no fixed terms of repayment.
Allotted, called up and fully paid:
120 Ordinary shares of £1 each
120
120
10
Transactions with related parties
Munro Multi Ventures (Pty) Ltd, RYD Brand International (Pty) Ltd and Simon Nicholson are related parties of the company by virtue of being Shareholders. The Shareholders advanced the following loans to the company during the year:
Munro Multi Ventures (Pty) Ltd - £364,347 (2023: £nil)
RYD Brand International (Pty) Ltd - £310,290 (2023: £nil)
Simon Nicholson - £nil (2023: £500)
Loans from Shareholders are unsecured, interest-free and carry no fixed terms of repayment.
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Average number of employees
During the period the average number of employees was 3 (2023: 3).