1 1 Ryerigg Developments Limited SC198964 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is property letting and kennels. Digita Accounts Production Advanced 6.30.9574.0 true SC198964 2023-05-01 2024-04-30 SC198964 2024-04-30 SC198964 bus:Director3 1 2024-04-30 SC198964 bus:OrdinaryShareClass1 2024-04-30 SC198964 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC198964 core:Goodwill 2024-04-30 SC198964 core:FurnitureFittings 2024-04-30 SC198964 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 SC198964 core:PlantMachinery 2024-04-30 SC198964 bus:SmallEntities 2023-05-01 2024-04-30 SC198964 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC198964 bus:FilletedAccounts 2023-05-01 2024-04-30 SC198964 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC198964 bus:RegisteredOffice 2023-05-01 2024-04-30 SC198964 bus:Director3 2023-05-01 2024-04-30 SC198964 bus:Director3 1 2023-05-01 2024-04-30 SC198964 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC198964 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC198964 bus:Agent1 2023-05-01 2024-04-30 SC198964 core:Goodwill 2023-05-01 2024-04-30 SC198964 core:FurnitureFittings 2023-05-01 2024-04-30 SC198964 core:LandBuildings 2023-05-01 2024-04-30 SC198964 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC198964 core:OfficeEquipment 2023-05-01 2024-04-30 SC198964 core:PlantMachinery 2023-05-01 2024-04-30 SC198964 countries:AllCountries 2023-05-01 2024-04-30 SC198964 2023-04-30 SC198964 bus:Director3 1 2023-04-30 SC198964 core:Goodwill 2023-04-30 SC198964 core:FurnitureFittings 2023-04-30 SC198964 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 SC198964 core:PlantMachinery 2023-04-30 SC198964 2022-05-01 2023-04-30 SC198964 2023-04-30 SC198964 bus:Director3 1 2023-04-30 SC198964 bus:OrdinaryShareClass1 2023-04-30 SC198964 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC198964 core:FurnitureFittings 2023-04-30 SC198964 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 SC198964 core:PlantMachinery 2023-04-30 SC198964 bus:Director3 1 2022-05-01 2023-04-30 SC198964 bus:Director3 1 2022-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: SC198964

Ryerigg Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Ryerigg Developments Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Ryerigg Developments Limited

Company Information

Director

KR Holmes

Registered office

27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

Solicitors

Boyds Solicitors
146 West Regent Street
Glasgow
G2 2RZ

Accountants

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ryerigg Developments Limited for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ryerigg Developments Limited for the year ended 30 April 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Ryerigg Developments Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2006. Our work has been undertaken solely to prepare for your approval the accounts of Ryerigg Developments Limited and state those matters that we have agreed to state to the Board of Directors of Ryerigg Developments Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ryerigg Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ryerigg Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ryerigg Developments Limited. You consider that Ryerigg Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ryerigg Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

22 January 2025

 

Ryerigg Developments Limited

(Registration number: SC198964)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

35,165

35,615

Current assets

 

Cash at bank and in hand

 

4,604

20,939

Creditors: Amounts falling due within one year

6

(2,142)

(18,869)

Net current assets

 

2,462

2,070

Net assets

 

37,627

37,685

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

37,626

37,684

Shareholders' funds

 

37,627

37,685

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 January 2025
 

.........................................
KR Holmes
Director

 

Ryerigg Developments Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland .

The address of its registered office is:
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD
United Kingdom

The principal place of business is:
Ryerigg
Easter Ulston
Jedburgh
Roxburghshire
TD8 6TF
Scotland

These financial statements were authorised for issue by the director on 22 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.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The financial statements are presented in Sterling (£) and rounded to the nearest £0.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:

Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets.

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.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

 

Ryerigg Developments Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

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

Land and buildings

nil

Office equipment

25% straight line

Plant and machinery

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

Cash and cash equivalents

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 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.

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.

 

Ryerigg Developments Limited

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

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities.
 Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

20,000

20,000

At 30 April 2024

20,000

20,000

Amortisation

At 1 May 2023

20,000

20,000

At 30 April 2024

20,000

20,000

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Land and buildings
£

Office equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

35,165

3,021

2,250

40,436

At 30 April 2024

35,165

3,021

2,250

40,436

Depreciation

At 1 May 2023

-

3,021

1,800

4,821

Charge for the year

-

-

450

450

At 30 April 2024

-

3,021

2,250

5,271

Carrying amount

At 30 April 2024

35,165

-

-

35,165

At 30 April 2023

35,165

-

450

35,615

 

Ryerigg Developments Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

888

1,388

Other creditors

1,254

17,481

2,142

18,869

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

KR Holmes

Loans are unsecured

(17,481)

16,227

(1,254)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

KR Holmes

Loans are unsecured

(15,349)

119

(2,251)

(17,481)