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Registration number: 05128618

Ryedale Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Ryedale Group Limited

Contents

Company Information

1

Balance Sheet

2 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 13

 

Ryedale Group Limited

Company Information

Directors

Mr J P Buffoni

Mr J J Buffoni

Registered office

Ryedale Group
Kirkdale Road
Kirkbymoorside
York
North Yorkshire
YO62 6YB

Accountants

Ian Walker & Co
Wellington House
Aviator Court
Clifton Moor
York
YO30 4UZ

 

Ryedale Group Limited

(Registration number: 05128618)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,337,616

1,327,157

Investments

5

1,220,000

1,220,000

 

2,557,616

2,547,157

Current assets

 

Debtors

6

144,920

162,478

Cash at bank and in hand

 

9

518

 

144,929

162,996

Creditors: Amounts falling due within one year

7

(83,380)

(83,466)

Net current assets

 

61,549

79,530

Total assets less current liabilities

 

2,619,165

2,626,687

Creditors: Amounts falling due after more than one year

7

(184,724)

(247,313)

Provisions for liabilities

(119,019)

(119,019)

Net assets

 

2,315,422

2,260,355

Capital and reserves

 

Called up share capital

9

849,000

849,000

Revaluation reserve

615,016

635,072

Retained earnings

851,406

776,283

Shareholders' funds

 

2,315,422

2,260,355

For the financial year ending 30 September 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.

 

Ryedale Group Limited

(Registration number: 05128618)
Balance Sheet as at 30 September 2024

 

Ryedale Group Limited

(Registration number: 05128618)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr J J Buffoni
Director

 

Ryedale Group Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2023

849,000

635,072

776,283

2,260,355

Profit for the year

-

-

55,067

55,067

Depreciation adjustment on revalued property

-

(20,056)

20,056

-

Total comprehensive income

-

(20,056)

75,123

55,067

At 30 September 2024

849,000

615,016

851,406

2,315,422

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2022

24,000

683,693

1,544,854

2,252,547

Profit for the year

-

-

36,373

36,373

Depreciation adjustment on revalued property

-

(48,621)

20,056

(28,565)

Total comprehensive income

-

(48,621)

56,429

7,808

Other share capital movements

825,000

-

(825,000)

-

At 30 September 2023

849,000

635,072

776,283

2,260,355

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Ryedale Group
Kirkdale Road
Kirkbymoorside
York
North Yorkshire
YO62 6YB

These financial statements were authorised for issue by the Board on 14 January 2025.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

not depreciated

Freehold property

2% straight line

Plant & machinery

15% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Share capital

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

1,447,712

2,266

1,449,978

Additions

33,585

-

33,585

At 30 September 2024

1,481,297

2,266

1,483,563

Depreciation

At 1 October 2023

120,555

2,266

122,821

Charge for the year

23,126

-

23,126

At 30 September 2024

143,681

2,266

145,947

Carrying amount

At 30 September 2024

1,337,616

-

1,337,616

At 30 September 2023

1,327,157

-

1,327,157

Included within the net book value of land and buildings above is £1,337,616 (2023 - £1,327,157) in respect of freehold land and buildings.
The net book value of freehold property includes, which is not depreciated, with a value of £400,000 (2023 - £400,000).

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Revaluation


The 2018 valuations were made by Charterfields Chartered Surveyors, on a fair value basis in accordance with RICS VPS 4, 1.15(a) and IVS 300 Valuations for Financial Reporting.

If the tangible freehold property had been accounted for under the historic cost accounting rules, the property would have been measured with a historic cost of £696,744 (2023 - £696,744) and the accumulated depreciation of £93,268 (2023 - £91,824).

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,220,000

1,220,000

Subsidiaries

£

Cost or valuation

At 1 October 2023

1,220,000

Provision

Carrying amount

At 30 September 2024

1,220,000

At 30 September 2023

1,220,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Ryedale Printing Works Limited

As Registered Office

England and Wales

Ordinary shares

100%

100%

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Subsidiary undertakings

Ryedale Printing Works Limited

The principal activity of Ryedale Printing Works Limited is Printing.

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

144,920

162,478

 

144,920

162,478

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

56,681

48,525

Accruals and deferred income

 

26,700

34,940

Other creditors

 

(1)

1

 

83,380

83,466

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

184,724

247,313

2024
£

2023
£

Due after more than five years

After more than five years by instalments

-

72,838

-

-

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

184,724

247,313

Current loans and borrowings

2024
£

2023
£

Bank borrowings

56,681

48,525

 

Ryedale Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Bank borrowings

Bank Loan is denominated in £ with a nominal interest rate of 4.95%, and the final instalment is due on 1 February 2029. The carrying amount at year end is £224,739 (2023 - £269,173).

A fixed and floating charge over the assets of the company and first legal charge over 39 Weighbridge Close, Kirkbymoorside and the land and buildings lying to the west of Ings Lane, Kirkbymoorside, both dated 7 February 2014.

Bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 30 June 2026. The carrying amount at year end is £16,667 (2023 - £26,667).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

24,000

24,000

24,000

24,000

Preference shares of £1 each

825,000

825,000

825,000

825,000

849,000

849,000

849,000

849,000