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Ryder Imports Limited
 
Abridged Unaudited Financial Statements
 
for the financial period ended 31 December 2023



Ryder Imports Limited
DIRECTORS' REPORT
for the financial period ended 31 December 2023

 
The directors present their report and the unaudited financial statements for the financial period ended 31 December 2023.
     
Directors
The directors who served during the financial period are as follows:
     
Declan Crinion (Appointed 1 June 2023)
Thomas Crinion (Appointed 1 June 2023)
Jordan Price
Robert Price (Resigned 1 September 2023)
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Political Contributions
The company did not make any disclosable political donations in the current financial period.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
Declan Crinion
Director
     
     
Thomas Crinion
Director
     
     
Jordan Price
Director
     
14 January 2025



Ryder Imports Limited
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial period ended 31 December 2023
Dec 23 Aug 22
Notes £ £

Gross profit 1,149,395 865,884
 
Administrative expenses (1,474,678) (1,528,598)
───────── ─────────
Operating loss (325,283) (662,714)
 
Interest receivable and similar income 422 48
Interest payable and similar charges (717) -
───────── ─────────
Loss on ordinary activities before taxation (325,578) (662,666)
 
Tax on loss on ordinary activities - (4,754)
───────── ─────────
Loss for the financial period (325,578) (667,420)
───────── ─────────
Total comprehensive income (325,578) (667,420)
    ═════════   ═════════



Ryder Imports Limited
Company Registration Number: 02638497
ABRIDGED BALANCE SHEET
as at 31 December 2023

Dec 23 Aug 22
Notes £ £
 
Fixed Assets
Tangible assets 5 195,497 242,425
───────── ─────────
 
Current Assets
Stocks 2,099,676 2,137,676
Debtors 435,440 321,935
Cash and cash equivalents 145,204 55,591
───────── ─────────
2,680,320 2,515,202
───────── ─────────
Creditors: amounts falling due within one year 6 (3,193,440) (2,626,387)
───────── ─────────
Net Current Liabilities (513,120) (111,185)
───────── ─────────
Total Assets less Current Liabilities (317,623) 131,240
 
Creditors:
amounts falling due after more than one year 7 (102,562) (114,386)
 
Provisions for liabilities (37,454) (37,454)
───────── ─────────
Net Liabilities (457,639) (20,600)
═════════ ═════════
 
Capital and Reserves
Called up share capital 8 10,000 10,000
Retained earnings (467,639) (30,600)
───────── ─────────
Equity attributable to owners of the company (457,639) (20,600)
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Board and authorised for issue on 14 January 2025 and signed on its behalf by
           
           
Declan Crinion          
Director          
           
           
Thomas Crinion
Director
           
           
Jordan Price          
Director          
           



Ryder Imports Limited
STATEMENT OF CHANGES IN EQUITY
as at 31 December 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 September 2021 10,000 693,255 703,255
───────── ───────── ─────────
Loss for the financial period - (667,420) (667,420)
───────── ───────── ─────────
Payment of dividends - (56,435) (56,435)
  ───────── ───────── ─────────
At 31 August 2022 10,000 (30,600) (20,600)
  ───────── ───────── ─────────
Loss for the financial period - (325,578) (325,578)
  ───────── ───────── ─────────
Payment of dividends - (111,461) (111,461)
  ───────── ───────── ─────────
At 31 December 2023 10,000 (467,639) (457,639)
  ═════════ ═════════ ═════════



Ryder Imports Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial period ended 31 December 2023

   
1. General Information
 
Ryder Imports Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 02638497. The registered office of the company is The Old Wagon Works, Mantle Lane, Coalville, Leicertershire, United Kingdom which is also the principal place of business of the company. Non-specialised Wholesale Trade The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 10% Straight line
  Office equipment - 33% Straight line
  Fixtures, fittings and equipment - 15% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Research and development
Development expenditure is written off to the Profit and Loss Account in the financial period in which it is incurred.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 16 month period ended 31 December 2023.
The comparative figures relate to the 12 month period ended 31 August 2022.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial period was 24, (Aug 22 - 13).
 
  Dec 23 Aug 22
  Number Number
 
General 24 13
  ═════════ ═════════
             
5. Tangible assets
  Land and Office Fixtures, Motor Total
  buildings equipment fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 September 2022 195,314 44,202 509,457 1,817 750,790
Additions - 2,822 - - 2,822
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 195,314 47,024 509,457 1,817 753,612
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2022 65,442 29,465 411,925 1,533 508,365
Charge for the financial period 19,531 15,518 14,630 71 49,750
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 84,973 44,983 426,555 1,604 558,115
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 110,341 2,041 82,902 213 195,497
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 August 2022 129,872 14,737 97,532 284 242,425
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Creditors Dec 23 Aug 22
Amounts falling due within one year £ £
 
Bank loan 9,814 9,814
Trade creditors 526,052 797,189
Amounts owed to connected parties 2,445,290 1,643,457
Taxation 139,956 10,120
Other creditors 68,528 155,807
Accruals 3,800 10,000
  ───────── ─────────
  3,193,440 2,626,387
  ═════════ ═════════
       
7. Creditors Dec 23 Aug 22
Amounts falling due after more than one year £ £
 
Bank loan 102,562 114,386
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand 9,814 9,814
Repayable between one and two years 9,814 9,814
Repayable between two and five years 92,748 104,572
  ───────── ─────────
  112,376 124,200
  ═════════ ═════════
 
           
8. Share capital     Dec 23 Aug 22
      £ £
Description Number of shares Value of units    
 
Allotted, called up and fully paid
Ordinary A Shares 4,100 £1.00 each 4,100 4,100
Ordinary C Shares 500 £1.00 each 500 500
Ordinary D Shares 500 £1.00 each 500 500
 
      ───────── ─────────
      10,000 10,000
      ═════════ ═════════
   
9. Financial commitments
 
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the
period of the rental agreement.
       
10. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 December 2023.
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial period-end.