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Company Registration No. 08606785 (England and Wales)
Rydam Developments Ltd. Unaudited accounts for the year ended 31 May 2024
Rydam Developments Ltd. Unaudited accounts Contents
Page
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Rydam Developments Ltd. Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
85,620 
5,483 
Investment property
1,200,000 
1,200,000 
1,285,620 
1,205,483 
Current assets
Inventories
- 
77,720 
Debtors
96,211 
97,499 
Cash at bank and in hand
199,183 
146,699 
295,394 
321,918 
Creditors: amounts falling due within one year
(246,511)
(249,726)
Net current assets
48,883 
72,192 
Total assets less current liabilities
1,334,503 
1,277,675 
Provisions for liabilities
Deferred tax
(143,520)
(141,878)
Net assets
1,190,983 
1,135,797 
Capital and reserves
Called up share capital
202 
202 
Profit and loss account
1,190,781 
1,135,595 
Shareholders' funds
1,190,983 
1,135,797 
For the year ending 31 May 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 5 December 2024 and were signed on its behalf by
Mr J Green Director Company Registration No. 08606785
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Rydam Developments Ltd. Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Rydam Developments Ltd. is a private company, limited by shares, registered in England and Wales, registration number 08606785. The registered office is Europa House, John O Gaunts Trading Est, Rothwell, Leeds, West Yorkshire, LS26 0JB.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of rents received during the period.
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
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
33% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Rydam Developments Ltd. Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
14,189 
- 
2,167 
16,356 
Additions
770 
96,405 
- 
97,175 
At 31 May 2024
14,959 
96,405 
2,167 
113,531 
Depreciation
At 1 June 2023
8,939 
- 
1,934 
10,873 
Charge for the year
893 
16,068 
77 
17,038 
At 31 May 2024
9,832 
16,068 
2,011 
27,911 
Net book value
At 31 May 2024
5,127 
80,337 
156 
85,620 
At 31 May 2023
5,250 
- 
233 
5,483 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
1,200,000 
At 31 May 2024
1,200,000 
Investment property comprises properties held by the company for rental income purposes. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,133 
14,100 
Other debtors
82,078 
83,399 
96,211 
97,499 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
23,974 
26,801 
Other creditors
222,537 
222,925 
246,511 
249,726 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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