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Company Registration No. 02024120 (England and Wales)
Rydam Universal Limited Unaudited accounts for the year ended 31 May 2024
Rydam Universal Limited Unaudited accounts Contents
Page
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Rydam Universal Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,033,568 
644,857 
Current assets
Inventories
1,715,318 
1,147,638 
Debtors
442,592 
448,398 
Cash at bank and in hand
1,056,430 
1,331,018 
3,214,340 
2,927,054 
Creditors: amounts falling due within one year
(1,188,384)
(1,082,490)
Net current assets
2,025,956 
1,844,564 
Total assets less current liabilities
3,059,524 
2,489,421 
Provisions for liabilities
Deferred tax
(246,555)
(152,145)
Net assets
2,812,969 
2,337,276 
Capital and reserves
Called up share capital
6,004 
6,004 
Profit and loss account
2,806,965 
2,331,272 
Shareholders' funds
2,812,969 
2,337,276 
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 16 November 2024 and were signed on its behalf by
Mr J Green Director Company Registration No. 02024120
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Rydam Universal Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Rydam Universal Limited is a private company, limited by shares, registered in England and Wales, registration number 02024120. The registered office is John O Gaunt's Trading Estate Leeds Road, Rothwell, Leeds, 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.
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:
Land & buildings
15% Reducing Balance
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33% Reducing Balance
Turnover
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.
Inventories
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.
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Rydam Universal Limited Notes to the Accounts for the year ended 31 May 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
17,600 
1,065,019 
1,082,619 
Additions
- 
612,522 
612,522 
Disposals
- 
(206,595)
(206,595)
At 31 May 2024
17,600 
1,470,946 
1,488,546 
Depreciation
At 1 June 2023
16,649 
421,113 
437,762 
Charge for the year
121 
128,454 
128,575 
On disposals
- 
(111,359)
(111,359)
At 31 May 2024
16,770 
438,208 
454,978 
Net book value
At 31 May 2024
830 
1,032,738 
1,033,568 
At 31 May 2023
951 
643,906 
644,857 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
355,517 
400,654 
Accrued income and prepayments
77,246 
37,346 
Other debtors
9,829 
10,398 
442,592 
448,398 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
313,712 
183,437 
Taxes and social security
324,040 
339,231 
Other creditors
550,632 
559,822 
1,188,384 
1,082,490 
7
Average number of employees
During the year the average number of employees was 14 (2023: 12).
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