Company Registration No. 01852938 (England and Wales)
RYDER ARCHITECTURE LIMITED
GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
RYDER ARCHITECTURE LIMITED
COMPANY INFORMATION
Directors
Mr M R Thompson
Mr G R Hurworth
Secretary
Mr G R Hurworth
Company number
01852938
Registered office
Cooper's Studios
14-18 Westgate Road
Newcastle Upon Tyne
Tyne And Wear
United Kingdom
NE1 3NN
Auditor
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
RYDER ARCHITECTURE LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 7
Independent auditor's report
8 - 11
Group statement of comprehensive income
12
Group balance sheet
13 - 14
Company balance sheet
15
Group statement of changes in equity
16
Company statement of changes in equity
17
Group statement of cash flows
18
Company statement of cash flows
19
Notes to the financial statements
20 - 49
RYDER ARCHITECTURE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The directors present the strategic report for the year ended 30 April 2024.

Review of the business

Ryder works across the UK from offices in Newcastle, London, Liverpool, Glasgow, Manchester and Bristol, in ASEAN from Hong Kong through a license agreement with Ryder (Asia) Limited, in Canada through Ryder Architecture (Canada) Inc and elsewhere internationally through an alliance community. We are commissioned on projects ranging in value up to £1bn across many sectors. Design services include everything from strategic briefing and placemaking consultancy to interior design and an increasing portfolio of commissions in digital construction consultancy, safety and sustainability.

Principal risks and uncertainties

Our broad portfolio of sectors involves us working with a wide range of clients - private businesses, developers, construction contractors, national and local government bodies. The success of these sectors requires a strong economy, stable political climate and a positive investment and planning environment, all of which have been lacking in the UK throughout recent years although they appear to be stabilising since the general election in July 2024. Commissions for the next 12 months remain strong across all sectors, although timing is a concern as clients assess the viability of projects within the context of ongoing uncertainty in the economy. We seek to manage and mitigate these risks through a diversified sector, client and geographical portfolio. The level of future commissions are constantly monitored and classified against agreed profitability criteria and benchmarks to identify areas of potential risk.

Development and performance

Many of our projects were recognised with design awards last year and we were also crowned UK Architectural Practice of the Year in the prestigious Building awards 2024. We are focused on delivering an excellent client experience. This was once again endorsed with an overall client satisfaction rating of over 90% in our 2024 client survey. We continue to be committed to all our established sectors while pursuing a number of overseas opportunities. Okana, our new built environment consultancy including a community of likeminded practices, continued to deliver with new commissions in North and South America, the Far East, Middle East and Australia.

Key performance indicators

Group turnover for the year ended 30 April 2024 was £31,589,982, £1,401,455 (4.6%) more than 2023. Total costs, excluding sub consultants, increased by 1.5%. Group profit before tax for 2024 increased by £914,576 (60.2%) to £2,433,340 (2023: £1,518,764).

Other performance indicators

Annual goals and targets are collectively agreed, assessed and monitored under our four pillars of excellence:

 

 

Environmental

We are committed to becoming net zero carbon through reducing our emissions in line with Science Based Targets initiative (SBTi). This requires a reduction of carbon emissions by a minimum of 46% by 2030 and 90% by 2050, with residual emissions offset. Our energy and carbon report is included in the Directors' Report.

Other information and explanations

Given the challenging economic circumstances, the directors are satisfied with the financial performance in the period. Despite this, we exceeded our community impact target which supports charities and good causes in the communities in which we work.

 

We are optimistic for the ongoing and sustained development of Ryder, subject to the aforementioned geopolitical uncertainties.

RYDER ARCHITECTURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
Promoting the success of the company

Our ethos is to at all times promote the success of Ryder for the benefit of its members as a whole, covering the requirements of S172(1) of the Act:

 

Employee matters

Our people bring the very best in knowledge, creative thinking and capability. We believe that attracting, nurturing and retaining talented people is key to our success. Our ethos promotes empowerment, creativity and teamwork. We are extremely proud to once again be recognised as one of the leading employers in the UK through our listing in the Best Companies to Work For rankings. We aim to be recognised as a superb place to work with exceptional opportunities for personal growth, with everyone empowered to develop in an ethos of challenge and exploration that is respectful to everyone. We continue to publish data showing the gender salary differences across ranks, roll out unconscious bias training across the practice and monitor our inclusivity demographics. We are an equal opportunities employer and actively support human rights and all equality legislation. Our approach to Equity, Diversity and Inclusion (EDI) enhances existing protocols, ensuring we support our people by acknowledging our visible and non visible differences.

 

Social and community

We place community impact at the heart of everything we do. It is rooted in our heritage and embedded in our people focused culture. We take a holistic approach to monitoring, tracking, and reporting our community impact through a clearly defined strategy. This involves examining our impact at three different levels: practice wide, individual teams, and on our projects. At the practice level, we evaluate our business activities that contribute to positive change in our communities including our responsible business strategy, our commitment to net zero carbon, and advocating best practice. Our aim of providing opportunities for people seeking entry into built environment careers, particularly in underrepresented communities, is embedded through our pioneering and award winning PlanBEE apprenticeship programme.

At the people level, we monitor all our colleagues engagement in fundraising, volunteering, and community activities. At the projects level, we use qualitative and quantitative metrics to track community benefits. Increasingly, we use third party frameworks like the Social Value Portal to track our social value commitments. We are also active members of Business in the Community.

 

Business relationships with suppliers

Collaboration is central to how we work. We value our supply chain partners and their continued success is in turn a benefit to Ryder. Finding likeminded organisations and nurturing relationships, with prompt payment, is core to our success. Where we have the opportunity, we are always happy to recommend our supply chain partners if we believe they have the skills and capacity to deliver the right service to our clients.

On behalf of the board

Mr M R Thompson
Director
29 January 2025
RYDER ARCHITECTURE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2024.

Principal activities

The principal activity of the company and group continued to be that of architectural design and project management.

Results and dividends

The results for the year are set out on page 12.

Ordinary dividends were paid amounting to £438,076. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M R Thompson
Mr G R Hurworth
Research and development

Delivering pioneering architectural and design services across a diverse portfolio necessitates overcoming scientific/technological uncertainties in the pursuit of scientific/technological advances.

Disabled persons

We are committed to ensuring that all our current and potential people are treated equally and fairly. We give full and fair consideration to all role applications and always look to employ the best person for the role and would seek to make the required adjustments to enable a disabled person to be a success. If a colleague becomes disabled we would arrange appropriate training and adjustments to their working environment to allow continued career development and a fulfilling working experience.

Employee involvement

Transparent communication and visible leadership have always been core to our success but have become increasingly vital as our people adapted to new ways of working and interacting during and post pandemic. Our internal intranet platform hosts regular updates from across the practice, including monthly leadership headlines detailing outcomes from the board across people, clients, projects and financial position.

The Ryder360 board was established in the 1990s and represents a cross section of the practice - each team has its own board member. The board meets to discuss suggestions for improvements on how we deliver Excellence to our people, with a focus on personal development, wellbeing and community impact. The board establishes its aims and goals through dialogue with their individual teams, and plays an instrumental role in providing a voice and the opportunity for everyone to contribute to the direction of the business.

The Ryder360 Learning programme delivers a variety of core and additional topics through Open House events, including professional obligations, as well as personal skills training for everyone.

In addition to our leadership and Ryder360 boards, we also establish task and finish groups to develop initiatives in particular areas as and when the need arises, such as community impact, inclusivity, climate emergency and quality.

 

Our annual Blueprint summit is held in the spring. The whole practice comes together to review the past year and discuss goals for the year ahead. These are formalised in an annual statement of our aims and ambitions, evolving year to year, and establishes the framework for the development of the practice. Progress against these goals is addressed regularly throughout the year.

Engagement is also monitored through various surveys, in particular Best Companies to Work For.

RYDER ARCHITECTURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -

Employee engagement

Ryder is committed to creating an environment in which everyone feels comfortable providing feedback on what is effective, what is desired and what could be improved. Everyone can do this through their mentors, team leaders or Ryder360.

Business relationships

Disclosure in relation to engagement with employees, suppliers and others has been included within the "Promoting the success of the Company" section of the Strategic Report.

Energy and carbon report

 

Current reporting year 2023-2024

Comparison reporting year 2022-2023

 

UK and offshore

Global (excluding UK and offshore)

UK and offshore

Global (excluding UK and offshore)

Emissions from combustion of gas tCO2e (Scope 1)

31.94

0

31.60

0

Emissions from combustion of fuel for transport purposes (Scope 1)

12.25

0

13.21

0

Emissions from business travel in rental cars or employee-owned vehicles where company is responsible for purchasing the fuel (Scope 3)

21.21

0.88 (Pro rata for 13 FTEs)

17.84

0.98 (Pro rata for 17 FTEs)

Emissions from purchased electricity (Scope 2, location-based)

76.38

7.62

63.98

6.67

Total gross CO2e based on above

141.78

8.50

126.63

7.65

Energy consumption used to calculate emissions: /kWh

630,952 kWh

40,418 kWh

576,260 kWh

38,484 kWh

Optional to provide separate figures for gas, electricity, transport fuel and other energy sources

Natural gas: 174,593 kWh

 

UK National Grid electricity: 368,871 kWh

 

By mileage - Cars (by size) - Unknown fuel – Average:

87,488.03 kWh

UK National Grid electricity: 36,807 kWh (Proxy data used)

 

By mileage - Cars (by size) - Unknown fuel – Average: 3,610.62 kWh (Pro rata for 13 FTEs)

 

Natural gas: 173,086 kWh

 

UK National Grid electricity:

330,856 kWh

 

By mileage - Cars (by size) - Unknown fuel – Average:

72,318.33 kWh

UK National Grid electricity:

34,505 kWh (Proxy data used)

 

By mileage - Cars (by size) - Unknown fuel – Average:

3,978.68 kWh (Pro rata for 17 FTEs)

Intensity ratio: tCO2e gross figure based from mandatory fields above / FTE

0.45

0.65

0.41

0.45

Tonnes CO2e per employee
RYDER ARCHITECTURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
Quantification and reporting methodology

Ryder UK has adopted an operational control approach to establishing the boundary. The methodology adopted in line with the Greenhouse Gas Protocol1 and the BEIS Environmental Reporting Guidelines2. The calculations were completed on the SmartCarbonTM Calculator3 using the UK Government emissions factors4.

CO2e is the universal unit of measurement to indicate the global warming potential (GWP) of Greenhouse Gases (GHGs), expressed in terms of the GWP of one unit of carbon dioxide. There are seven main GHGs that contribute to climate change, as covered by the Kyoto Protocol: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6) and nitrogen trifluoride (NF3). Different activities emit different gases. Using CO₂e allows all greenhouse gases to be measured on a like-for-like basis.

For National grid electricity consumption, Ryder UK has included factors for the transmission and distribution of electricity (T&D) losses, which occur between the power station and site(s). The emissions from T&D has been accounted for in Scope 3. As with other Scope 3 impacts, reporting T&D is voluntary but is recommended standard practice by UK Government2.

The baseline and previous years’ emissions have been recalculated to reflect efforts to improve data accuracy, and to reflect adjustments to the structure of Ryder offices within the wider practice. These include:

Ryder operates an office outside the UK. This office is in Vancouver, Canada. Without accurate data for this office electricity emissions, we have used the Liverpool office data, since the office size is comparable and the FTE count is similar, though this applies a more conservative total. The gas usage is within Scope 3, Category 8, given this is centralised within the Vancouver office building. When it comes to Scope 3 (Emissions from business travel in rental cars or employee-owned vehicles where company is responsible for purchasing the fuel) pro-rata data is used based on FTEs.

The defined boundary for Scope 1 emissions are:

The defined boundary for Scope 2 emissions are:

RYDER ARCHITECTURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
Bristol CO2 emissions from gas usage include those from facilities leased by others, these will appear in their Scope 3 emissions.

Estimations:
It has been difficult to obtain accurate data for a flat leased by Ryder, therefore, another flat used by Ryder has been used as a proxy, given assumed similar usage.

Where no data has been available for air conditioner leakage, 0 has been assumed, given that leakage is unlikely given the low usage, and 0 leakage observed in other air conditioner units operated by Ryder UK.

References:
1. The GHG Protocol Corporate Accounting and Reporting Standard. Revised Edition (2015) World Resource Institute and World Business Council for Sustainable Development
2. Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019) UK Government Department for Business, Environment and Industrial Strategy
3. SmartCarbon Calculator: https://www.smartcarboncalculator.com/
4. Greenhouse gas reporting: conversion factors  - Full set (for advanced users). More at this link:
https://www.gov.uk/government/collections/government-conversion-factors-for-company-reporting
Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per staff member, the recommended ratio for the sector.

Measures taken to improve energy efficiency

Ryder has introduced a practice wide behavioural change programme, Green Initiatives, aimed at empowering our teams to reduce emissions across the practice. We have undertaken a detailed study of our largest office, Cooper's Studios, and developed a programme of works to reduce its operational emissions, including the introduction of sub metering to allow the impact of works to be monitored. The works to Cooper's will inform future projects on other Ryder sites.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual 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). 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RYDER ARCHITECTURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr M R Thompson
Director
29 January 2025
RYDER ARCHITECTURE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF RYDER ARCHITECTURE LIMITED
- 8 -
Opinion

We have audited the financial statements of Ryder Architecture Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

RYDER ARCHITECTURE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RYDER ARCHITECTURE LIMITED
- 9 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

RYDER ARCHITECTURE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RYDER ARCHITECTURE LIMITED
- 10 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

 

The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RYDER ARCHITECTURE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RYDER ARCHITECTURE LIMITED
- 11 -

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanne Regan FCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
30 January 2025
Chartered Accountants
Statutory Auditor
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
RYDER ARCHITECTURE LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024
- 12 -
2024
2023
Notes
£
£
Turnover
3
31,589,982
30,188,527
Cost of sales
(19,808,067)
(19,082,904)
Gross profit
11,781,915
11,105,623
Administrative expenses
(9,472,475)
(9,449,990)
Other operating income
44,391
7,794
Operating profit
4
2,353,831
1,663,427
Share of profits of joint ventures
27,104
53,965
Interest receivable and similar income
8
145,544
38,244
Interest payable and similar expenses
9
(51,006)
(35,229)
Amounts written off investments
10
(42,133)
(201,643)
Profit before taxation
2,433,340
1,518,764
Tax on profit
11
805,771
(161,125)
Profit for the financial year
30
3,239,111
1,357,639
Other comprehensive income
Currency translation loss taken to retained earnings
(40,974)
(10,733)
Total comprehensive income for the year
3,198,137
1,346,906
Profit for the financial year is attributable to:
- Owners of the parent company
3,239,111
1,357,921
- Non-controlling interests
-
(282)
3,239,111
1,357,639
Total comprehensive income for the year is attributable to:
- Owners of the parent company
3,198,137
1,347,188
- Non-controlling interests
-
(282)
3,198,137
1,346,906
RYDER ARCHITECTURE LIMITED
GROUP BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 13 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
14
278,075
19,501
Negative goodwill
14
(48,528)
(36,442)
Net goodwill
229,547
(16,941)
Tangible assets
15
1,072,064
821,693
Investments
16
12,322
251,897
1,313,933
1,056,649
Current assets
Debtors
20
12,158,520
9,262,239
Cash at bank and in hand
10,276,195
9,321,378
22,434,715
18,583,617
Creditors: amounts falling due within one year
21
(9,384,836)
(8,504,079)
Net current assets
13,049,879
10,079,538
Total assets less current liabilities
14,363,812
11,136,187
Creditors: amounts falling due after more than one year
22
(1,026,213)
(558,949)
Provisions for liabilities
Deferred tax liability
25
249
796
(249)
(796)
Net assets
13,337,350
10,576,442
Capital and reserves
Called up share capital
27
513
513
Share premium account
28
900,463
900,463
Capital redemption reserve
29
759
759
Profit and loss reserves
30
12,435,615
9,675,554
Equity attributable to owners of the parent company
13,337,350
10,577,289
Non-controlling interests
-
(847)
13,337,350
10,576,442
RYDER ARCHITECTURE LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 14 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
29 January 2025
Mr M R Thompson
Director
Company registration number 01852938 (England and Wales)
RYDER ARCHITECTURE LIMITED
COMPANY BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 15 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
15
1,062,200
795,098
Investments
16
817,876
172,987
1,880,076
968,085
Current assets
Debtors
20
11,700,378
8,855,689
Cash at bank and in hand
9,000,563
8,786,624
20,700,941
17,642,313
Creditors: amounts falling due within one year
21
(9,012,910)
(8,071,906)
Net current assets
11,688,031
9,570,407
Total assets less current liabilities
13,568,107
10,538,492
Creditors: amounts falling due after more than one year
22
(1,016,750)
(479,783)
Net assets
12,551,357
10,058,709
Capital and reserves
Called up share capital
27
513
513
Share premium account
28
900,463
900,463
Capital redemption reserve
29
759
759
Profit and loss reserves
30
11,649,622
9,156,974
Total equity
12,551,357
10,058,709

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £2,930,724 after tax (2023 - £1,120,958 profit after tax).

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
29 January 2025
Mr M R Thompson
Director
Company registration number 01852938 (England and Wales)
RYDER ARCHITECTURE LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 16 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 May 2022
518
900,463
741
8,716,610
9,618,332
(565)
9,617,767
Year ended 30 April 2023:
Profit for the year
-
-
-
1,357,921
1,357,921
(282)
1,357,639
Other comprehensive income:
Currency translation differences
-
-
-
(10,733)
(10,733)
-
(10,733)
Total comprehensive income
-
-
-
1,347,188
1,347,188
(282)
1,346,906
Issue of share capital
27
13
-
0
-
-
13
-
13
Dividends
12
-
-
-
(318,244)
(318,244)
-
(318,244)
Own shares acquired
-
-
-
(70,000)
(70,000)
-
(70,000)
Redemption of shares
27
(18)
-
18
-
-
0
-
-
Balance at 30 April 2023
513
900,463
759
9,675,554
10,577,289
(847)
10,576,442
Year ended 30 April 2024:
Profit for the year
-
-
-
3,239,111
3,239,111
-
3,239,111
Other comprehensive income:
Currency translation differences
-
-
-
(40,974)
(40,974)
-
(40,974)
Total comprehensive income
-
-
-
3,198,137
3,198,137
-
3,198,137
Dividends
12
-
-
-
(438,076)
(438,076)
-
(438,076)
Disposal of subsidiary
-
-
-
-
-
847
847
Balance at 30 April 2024
513
900,463
759
12,435,615
13,337,350
-
0
13,337,350
RYDER ARCHITECTURE LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 17 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 May 2022
518
900,463
741
8,424,260
9,325,982
Year ended 30 April 2023:
Profit and total comprehensive income for the year
-
-
-
1,120,958
1,120,958
Issue of share capital
27
13
-
0
-
-
13
Dividends
12
-
-
-
(318,244)
(318,244)
Own shares acquired
-
-
-
(70,000)
(70,000)
Redemption of shares
27
(18)
-
18
-
-
0
Balance at 30 April 2023
513
900,463
759
9,156,974
10,058,709
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
-
2,930,724
2,930,724
Dividends
12
-
-
-
(438,076)
(438,076)
Balance at 30 April 2024
513
900,463
759
11,649,622
12,551,357
RYDER ARCHITECTURE LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
- 18 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
38
2,931,050
2,255,921
Interest paid
(51,006)
(35,229)
Income taxes paid
(4,479)
-
Net cash inflow from operating activities
2,875,565
2,220,692
Investing activities
Purchase of tangible fixed assets
(424,408)
(533,325)
Proceeds from disposal of tangible fixed assets
4,081
-
Purchase of subsidiaries
(563,372)
(168,144)
Proceeds from disposal of subsidiaries
100
-
Cash acquired on acquisition of subsidiary
449,220
52,163
Cash disposed on disposal of subsidiary
(64,983)
Subsidiary cashflow settlement
(153,487)
-
Loans made
114,079
(2,498)
Interest received
145,544
38,244
Net cash used in investing activities
(493,226)
(613,560)
Financing activities
Proceeds from issue of shares
13
-
Company repurchase of shares
-
0
(70,000)
Repayment of bank loans
(188,645)
(51,250)
Payment of finance leases obligations
(695,935)
(668,368)
Dividends paid to equity shareholders
(542,955)
(878,002)
Net cash used in financing activities
(1,427,522)
(1,667,620)
Net increase/(decrease) in cash and cash equivalents
954,817
(60,488)
Cash and cash equivalents at beginning of year
9,321,378
9,381,866
Cash and cash equivalents at end of year
10,276,195
9,321,378
RYDER ARCHITECTURE LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
- 19 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
40
2,547,131
2,038,836
Interest paid
(45,201)
(27,413)
Income taxes refunded
26,812
-
0
Net cash inflow from operating activities
2,528,742
2,011,423
Investing activities
Purchase of tangible fixed assets
(424,408)
(531,618)
Proceeds from disposal of tangible fixed assets
4,081
-
0
Purchase of subsidiaries
(563,376)
(168,143)
Proceeds from disposal of subsidiaries
100
-
Purchase of investments
(153,487)
-
Loans made
(90,492)
(121,548)
Interest received
144,817
38,244
Net cash used in investing activities
(1,082,765)
(783,065)
Financing activities
Proceeds from issue of shares
13
-
Company repurchase of shares
-
0
(70,000)
Payment of finance leases obligations
(689,096)
(668,368)
Dividends paid
(542,955)
(878,002)
Net cash used in financing activities
(1,232,038)
(1,616,370)
Net increase/(decrease) in cash and cash equivalents
213,939
(388,012)
Cash and cash equivalents at beginning of year
8,786,624
9,174,636
Cash and cash equivalents at end of year
9,000,563
8,786,624
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 20 -
1
Accounting policies
Company information

Ryder Architecture Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Cooper's Studios, 14-18 Westgate Road, Newcastle Upon Tyne, Tyne And Wear, United Kingdom, NE1 3NN.

 

The group consists of Ryder Architecture Limited and all of its subsidiaries, associates and joint ventures.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Where the cost of a business combination is less than the fair value of the identifiable assets, liabilities and contingent liabilities acquired, this is recognised as negative goodwill.

 

Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated financial statements incorporate those of Ryder Architecture Limited, all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits) and associated companies and joint ventures. Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

 

All financial statements are made up to 30 April 2024. The accounting period of The Bush Consultancy Limited was shortened on acquisition to 30 April 2024 in line with the group.

 

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 21 -

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration.

 

Contracts are assessed on an individual basis. When the outcome and fair value of the right to consideration of a contract can be assessed with reasonable certainty, the attributable profit/loss is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract.

Where there are contracts which are gradually performed over time, revenue is recognised by reference to an assessment of the fair value of the services provided as a proportion of the total fair value of the contract. Where there is uncertainty as to whether fees will be received for a particular stage of a project, then the fair value of that stage is determined to be nil. When considering the total fair value of the contract, a review of potential success fees on a contract is undertaken. Success fees may be payable on the achievement of certain milestones within a contract, such as the next stage of a project being commissioned or the receipt of planning permission. The fair value of success fees is taken as nil unless certainty has been achieved at or around the year end.

In accordance with FRS 102, Section 23, the amount by which recorded turnover is in excess of payments on account is classified as 'gross amounts due from contract customers' and separately disclosed within debtors. The balance of payments on account, in excess of amounts matched with turnover, and offset against long term contract balances, is classified 'gross amounts owed to contract customers' and separately disclosed within creditors. The amount by which the accrual for foreseeable losses exceeds the costs incurred after transfers to cost of sales is included within creditors.

1.6
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 22 -
1.7
Intangible fixed assets - goodwill

Goodwill on business combinations represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill on business combinations is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years or 5 years. Negative goodwill on acquisition of Haskoll Limited subsidiary is amortised over a period of 3 years, being the period the benefit accrued from the projects and frameworks acquired. Negative goodwill on acquisition of Okana Global Limited is amortised over a period of 5 years, being the period the benefit accrued from the projects and frameworks acquired.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

 

£114,000 of goodwill brought forward in the parent company relates to goodwill purchased from the liquidators of an architectural company in 2013 which has been amortised over 3 years, being the life cycle of the contracts secured. The remaining parent company goodwill relates to purchases of projects that were transferred from individuals to the company and these were amortised over completion of these projects. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% on cost and over life of lease
Fixtures, fittings and equipment
33% on cost, 25% reducing balance, 25% on cost, 50% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 23 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 24 -
1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 25 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 26 -
1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.18
Foreign exchange

Functional currency and presentation currency

The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). For the purposes of the consolidated financial statements, the results and financial position are presented in Sterling (£).

 

Transactions and balances

In preparing the financial statements of individual entities, transactions in currencies other than the functional currency of the individual entities (foreign currencies) are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

 

Exchange differences are recognised in profit or loss in the period in which they arise. However, in the consolidated financial statements exchange differences arising on monetary items that form part of the net investment in a foreign operation are recognised in other comprehensive income and are not reclassified to profit and loss.

 

Translation of group companies

For the purposes of presenting consolidated financial statements, the assets and liabilities of the group's foreign operations are translated from their functional currency to Sterling (£) using the closing exchange rate. Income and expenses are translated using the average rate for the period, unless exchange rates fluctuated significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising on the translation of group companies are recognised in other comprehensive income and are not reclassified to profit and loss.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 27 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Revenue recognition

The group's revenue recognition policy for long term contracts is set out in accounting policies and is central to how the group values work performed in each financial period. Project managers provide the estimates required for the costs to completion based on their knowledge and understanding the work outstanding and the progression of the project to date, but this is overseen by the directors who have substantial experience in this field.

 

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Architectural design and project management
31,589,982
30,188,527
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
29,288,896
28,568,970
Rest of the World
2,301,086
1,619,557
31,589,982
30,188,527
2024
2023
£
£
Other revenue
Interest income
145,544
38,244
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 28 -
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
15,535
(13,551)
Depreciation of owned tangible fixed assets
298,746
317,559
Depreciation of tangible fixed assets held under finance leases
264,338
207,077
Profit on disposal of tangible fixed assets
(2,489)
-
Amortisation of intangible assets
(8,052)
18,639
Impairment of intangible assets
-
201,643
Operating lease charges
1,671,366
1,787,389
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
27,250
24,600
Audit of the financial statements of the company's subsidiaries
28,900
15,475
56,150
40,075
For other services
Taxation compliance services
8,000
5,575
Other taxation services
7,550
2,328
All other non-audit services
9,950
4,372
25,500
12,275
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Administration
48
37
35
37
Production
275
280
275
269
Directors
2
2
2
2
Total
325
319
312
308
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
6
Employees
(Continued)
- 29 -

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
13,438,696
13,966,243
13,234,564
13,315,971
Social security costs
1,383,163
1,343,436
1,383,163
1,343,436
Pension costs
1,153,996
1,257,701
1,149,545
1,239,930
15,975,855
16,567,380
15,767,272
15,899,337
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
128,473
122,382
Company pension contributions to defined contribution schemes
79,155
105,118
207,628
227,500

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
145,544
38,244
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
145,544
38,244
9
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
4,949
7,816
Other finance costs:
Interest on finance leases and hire purchase contracts
46,057
27,413
Total finance costs
51,006
35,229
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 30 -
10
Amounts written off investments
2024
2023
£
£
Other gains and losses
(42,133)
(201,643)
11
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
(9,875)
235,962
Adjustments in respect of prior periods
(850,883)
-
0
Total UK current tax
(860,758)
235,962
Foreign current tax on profits for the current period
14,487
-
0
Total current tax
(846,271)
235,962
Deferred tax
Origination and reversal of timing differences
380,460
(74,837)
Adjustment in respect of prior periods
(339,960)
-
0
Total deferred tax
40,500
(74,837)
Total tax (credit)/charge
(805,771)
161,125
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
11
Taxation
(Continued)
- 31 -

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
2,433,340
1,518,764
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.50%)
608,335
296,159
Tax effect of expenses that are not deductible in determining taxable profit
34,666
68,102
Tax effect of utilisation of tax losses not previously recognised
(5,748)
(154,504)
Change in unrecognised deferred tax assets
(312,595)
(12,458)
Adjustments in respect of prior years
(850,883)
-
0
Effect of change in corporation tax rate
-
(15,730)
Permanent capital allowances in excess of depreciation
-
0
2,856
Depreciation on assets not qualifying for tax allowances
(2,049)
47,308
Other non-reversing timing differences
-
0
(14,520)
Other permanent differences
15,868
(42,629)
Deferred tax adjustments in respect of prior years
(339,960)
-
0
(Profit)/losses on overseas subsidiaries
38,884
(2,936)
Share of results of joint ventures
(6,776)
(10,523)
Foreign tax paid
14,487
-
Taxation (credit)/charge
(805,771)
161,125
12
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
438,076
318,244
13
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in other gains and losses in the profit or loss:

2024
2023
Notes
£
£
In respect of:
Goodwill
14
-
201,643
Recognised in:
Amounts written off investments
-
201,643
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
13
Impairments
(Continued)
- 32 -

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

14
Intangible fixed assets
Group
Goodwill
Negative goodwill
Total
£
£
£
Cost
At 1 May 2023
647,324
(62,472)
584,852
Additions
277,506
(36,932)
240,574
Disposals
(1,093)
-
0
(1,093)
Revaluation
-
0
(1,590)
(1,590)
At 30 April 2024
923,737
(100,994)
822,743
Amortisation and impairment
At 1 May 2023
627,823
(26,030)
601,793
Amortisation charged for the year
18,384
(26,436)
(8,052)
Disposals
(545)
-
0
(545)
At 30 April 2024
645,662
(52,466)
593,196
Carrying amount
At 30 April 2024
278,075
(48,528)
229,547
At 30 April 2023
19,501
(36,442)
(16,941)
Company
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
193,779
Amortisation and impairment
At 1 May 2023 and 30 April 2024
193,779
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 33 -
15
Tangible fixed assets
Group
Leasehold improvements
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 May 2023
974,035
1,956,085
2,930,120
Additions
370,281
450,757
821,038
Business combinations
-
0
14,317
14,317
Disposals
(108,456)
(113,009)
(221,465)
Exchange adjustments
(431)
(432)
(863)
At 30 April 2024
1,235,429
2,307,718
3,543,147
Depreciation and impairment
At 1 May 2023
568,139
1,540,288
2,108,427
Depreciation charged in the year
239,468
323,616
563,084
Eliminated in respect of disposals
(108,456)
(94,852)
(203,308)
Exchange adjustments
(430)
3,310
2,880
At 30 April 2024
698,721
1,772,362
2,471,083
Carrying amount
At 30 April 2024
536,708
535,356
1,072,064
At 30 April 2023
405,896
415,797
821,693
Company
Leasehold improvements
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 May 2023
865,148
1,838,853
2,704,001
Additions
370,281
450,757
821,038
Disposals
-
0
(4,341)
(4,341)
At 30 April 2024
1,235,429
2,285,269
3,520,698
Depreciation and impairment
At 1 May 2023
459,292
1,449,611
1,908,903
Depreciation charged in the year
239,428
312,916
552,344
Eliminated in respect of disposals
-
0
(2,749)
(2,749)
At 30 April 2024
698,720
1,759,778
2,458,498
Carrying amount
At 30 April 2024
536,709
525,491
1,062,200
At 30 April 2023
405,856
389,242
795,098
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
15
Tangible fixed assets
(Continued)
- 34 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Fixtures, fittings and equipment
445,134
312,958
445,134
312,958
16
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
17
-
0
-
0
805,554
160,615
Investments in associates
18
12,322
12,322
12,322
12,322
Investments in joint ventures
-
0
239,575
-
0
-
0
Loans to joint ventures
-
0
-
0
-
0
50
12,322
251,897
817,876
172,987
Movements in fixed asset investments
Group
Shares in associates and joint ventures
£
Cost or valuation
At 1 May 2023
251,897
Transfer on acquisition
(239,575)
At 30 April 2024
12,322
Carrying amount
At 30 April 2024
12,322
At 30 April 2023
251,897
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
16
Fixed asset investments
(Continued)
- 35 -
Movements in fixed asset investments
Company
Shares in subsidiaries and associates
Loans to joint ventures
Total
£
£
£
Cost or valuation
At 1 May 2023
969,881
50
969,931
Additions
648,427
-
648,427
Valuation changes
(1,590)
-
(1,590)
Transfer on acquisition
50
(50)
-
Disposals
(1,948)
-
(1,948)
At 30 April 2024
1,614,820
-
1,614,820
Impairment
At 1 May 2023 and 30 April 2024
796,944
-
796,944
Carrying amount
At 30 April 2024
817,876
-
817,876
At 30 April 2023
172,937
50
172,987
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 36 -
17
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Devereux Architecture Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE3 1NN
Ordinary
100.00
Haskoll Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE1 3NN
Ordinary
100.00
Ward Robinson (Design) Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE1 3NN
Ordinary
100.00
Doone Silver Kerr Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE1 3NN
Ordinary
100.00
Okana Global Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE1 3NN
Ordinary
100.00
The Bush Consultancy Limited
5.20 Paintworks, Bath Road, Bristol, BS4 3EH
Ordinary
100.00

On 31 July 2023, Ryder Architecture Limited acquired the remaining 50% of the share capital of Okana Global Limited (previously known as BIM Academy (Enterprises) Limited) for consideration of £228,604, made up of £204,819 cash on acquisition and £23,785 deferred consideration plus legal costs of £1,143.

 

On 31 January 2024, Ryder Architecture Limited acquired 100% of the share capital of The Bush Consultancy Limited for consideration of £402,614, made up of £140,915 cash on acquisition and £261,699 deferred consideration plus legal costs of £16,066.

 

On 30 November 2023, Ryder Architecture Limited sold their 100% shareholding of Ryder (Asia) Limited.

 

On 30 August 2023, the 100% subsidiary Ryder Architecten (Nederlands) B.V. was dissolved.

18
Associates

Details of associates at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Ryder Architecture (Canada) Inc
2705 Main Street, Vancouver, V5T 3E9, Canada
B non-voting preferred shares
100
Yates & Nicklin Limited
Cooper's Studios, Westgate Road, Newcastle upon Tyne, NE1 3NN
Ordinary A
30
19
Financial instruments
Group
Company
2024
2023
2024
2023
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
20,081,712
16,689,296
18,502,049
15,794,220
Carrying amount of financial liabilities
Measured at amortised cost
8,903,794
6,929,975
8,662,310
6,455,962
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 37 -
20
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
8,308,331
6,067,417
7,840,167
5,696,715
Gross amounts owed by contract customers
932,628
791,804
888,370
791,804
Corporation tax recoverable
-
0
41,449
-
0
41,299
Amounts owed by group undertakings
-
-
239,758
167,450
Other debtors
564,558
508,697
533,191
351,627
Prepayments and accrued income
2,329,251
1,781,372
2,175,140
1,735,294
12,134,768
9,190,739
11,676,626
8,784,189
Deferred tax asset (note 25)
23,752
71,500
23,752
71,500
12,158,520
9,262,239
11,700,378
8,855,689
21
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
24
-
0
53,750
-
0
-
0
Obligations under finance leases
23
823,939
572,784
796,586
572,784
Trade creditors
2,391,987
1,952,245
2,313,807
1,838,691
Gross amounts owed to contract customers
752,110
1,062,032
704,837
1,062,032
Amounts owed to group undertakings
-
0
-
0
135,305
118,491
Corporation tax payable
14,620
851,034
-
0
850,883
Other taxation and social security
1,492,635
1,282,019
1,367,350
1,244,844
Other creditors
684,690
630,424
675,182
631,579
Accruals and deferred income
3,224,855
2,099,791
3,019,843
1,752,602
9,384,836
8,504,079
9,012,910
8,071,906
22
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
24
-
0
79,166
-
0
-
0
Obligations under finance leases
23
969,847
407,283
960,384
407,283
Other creditors
56,366
72,500
56,366
72,500
1,026,213
558,949
1,016,750
479,783
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 38 -
23
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
823,939
572,784
796,586
572,784
In two to five years
969,847
407,283
960,384
407,283
1,793,786
980,067
1,756,970
980,067

Finance lease payments represent rentals payable by the company or group for certain items of computer equipment.

24
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
-
0
132,916
-
0
-
0
Payable within one year
-
0
53,750
-
0
-
0
Payable after one year
-
0
79,166
-
0
-
0

Bank loans were provided under the Coronavirus Business Interruption Loan Scheme whereby the Government guarantees 80% of the loans to the lender and pays interest and fees for the first 12 months.

The group had two CBILs loans outstanding at 30 April 2023:

 

Both loans were fully re-paid in the year.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 39 -
25
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Group
£
£
£
£
Accelerated capital allowances
249
1,186
(6,808)
24,728
Tax losses
-
(390)
-
-
Retirement benefit obligations
-
-
30,560
46,772
249
796
23,752
71,500
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Company
£
£
£
£
Accelerated capital allowances
-
-
(6,808)
24,728
Retirement benefit obligations
-
-
30,560
46,772
-
-
23,752
71,500
Group
Company
2024
2024
Movements in the year:
£
£
Asset at 1 May 2023
(70,704)
(71,500)
Charge to profit or loss
47,201
47,748
Asset at 30 April 2024
(23,503)
(23,752)

The company deferred tax asset recognised at 30 April 2024 is expected to increase by £22,000 within the next financial year due to structures and buildings allowances at 3% resulting in depreciation exceeding capital allowances.

26
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,153,996
1,257,701

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 40 -
27
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 50p each
450
450
225
225
Ordinary B of 50p each
575
575
288
288
1,025
1,025
513
513

The company has A ordinary and B ordinary share classes. Both share classes are entitled to the payment of dividends and return of capital. However A ordinary shareholders have full voting rights and B ordinary shareholders only have voting rights in respect of certain circumstances set out in the Articles of Association.

28
Share premium account
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning and end of the year
900,463
900,463
900,463
900,463
29
Capital redemption reserve
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
759
741
759
741
Transfers
-
18
-
18
At the end of the year
759
759
759
759
30
Profit and loss reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
9,675,554
8,716,610
9,156,974
8,424,260
Profit for the year
3,239,111
1,357,921
2,930,724
1,120,958
Dividends
(438,076)
(318,244)
(438,076)
(318,244)
Currency translation differences
(40,974)
(10,733)
-
0
-
0
Own shares acquired
-
(70,000)
-
(70,000)
At the end of the year
12,435,615
9,675,554
11,649,622
9,156,974
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 41 -
31
Acquisition of a business

On 31 July 2023 the group acquired the remaining 50% of the issued share capital of Okana Global Limited (previously known as BIM Academy (Enterprises) Limited), taking the holding to 100% of the issued share capital.

Book Value
Adjustments
Fair Value
Net assets acquired
£
£
£
Property, plant and equipment
55
-
55
Trade and other receivables
162,293
-
162,293
Cash and cash equivalents
194,229
-
194,229
Trade and other payables
(70,489)
-
(70,489)
Tax liabilities
(19,393)
-
(19,393)
Deferred tax
(16)
-
(16)
Total identifiable net assets
266,679
-
266,679
Goodwill
(36,932)
Total consideration
229,747
The consideration was satisfied by:
£
Cash
204,819
Deferred consideration
23,785
Stamp Duty
1,143
229,747
Contribution by the acquired business for the reporting period included in the group statement of comprehensive income since acquisition:
£
Turnover
260,267
Profit after tax
137,899
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
31
Acquisition of a business
(Continued)
- 42 -

On 31 January 2024 the group acquired 100% of the issued capital of The Bush Consultancy Limited.

Book Value
Adjustments
Fair Value
Net assets acquired
£
£
£
Property, plant and equipment
14,208
-
14,208
Trade and other receivables
447,220
-
447,220
Cash and cash equivalents
60,762
-
60,762
Borrowings
(55,729)
-
(55,729)
Obligations under finance leases
(43,655)
-
(43,655)
Trade and other payables
(257,964)
-
(257,964)
Tax liabilities
(17,000)
-
(17,000)
Deferred tax
(6,668)
-
(6,668)
Total identifiable net assets
141,174
-
141,174
Goodwill
277,506
Total consideration
418,680
The consideration was satisfied by:
£
Cash
140,915
Deferred consideration
261,699
Legal and professional fees
14,046
Stamp duty
2,020
418,680
Contribution by the acquired business for the reporting period included in the group statement of comprehensive income since acquisition:
£
Turnover
(7,428)
Loss after tax
(100,041)
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 43 -
32
Disposals

On 31 August 2023 the group disposed of its 85% holding in Ryder Architecten (Nederlands) B.V.. Included in these financial statements are profits of £nil arising from the company's interests in Ryder Architecten (Nederlands) B.V. up to the date of its disposal.

 

Net assets disposed of
£
Goodwill
548
Trade and other payables
(5,640)
Minority interest
847
(4,245)
Gain on disposal
4,245
Total consideration
-
The consideration was satisfied by:
£
-

On 30 November 2023 the group disposed of its 100% holding in Ryder (Asia) Limited. Included in these financial statements are losses of £148,372 arising from the company's interests in Ryder (Asia) Limited up to the date of its disposal.

 

Net assets disposed of
£
Cash and cash equivalents
64,983
Property, plant and equipment
16,565
Trade and other receivables
93,730
Trade and other payables
(282,286)
(107,008)
Gain on disposal
107,108
Total consideration
100
The consideration was satisfied by:
£
Cash
100
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 44 -
33
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
1,208,391
1,125,405
1,206,055
1,125,405
Between two and five years
1,854,990
2,061,225
1,854,990
2,061,225
In over five years
1,379,555
1,499,576
1,379,555
1,499,576
4,442,936
4,686,206
4,440,600
4,686,206
34
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2024
2023
2024
2023
£
£
£
£
Acquisition of tangible fixed assets
-
47,439
-
47,439
35
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024
2023
£
£
Aggregate compensation
1,791,567
1,948,524
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
35
Related party transactions
(Continued)
- 45 -
Transactions with related parties

During the year the group entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Group
Entities over which the group has control, joint control or significant influence
287,914
817,011
43,793
137,932
Other related parties
-
-
-
2,200
Company
Entities over which the company has control, joint control or significant influence
287,914
817,011
43,793
137,932
Dividends declared
Loans written off
2024
2023
2024
2023
£
£
£
£
Group
Entities over which the entity has control, joint control or significant influence
-
-
-
1,395
Key management personnel
303,184
215,219
-
-
Other related parties
134,892
103,024
-
-
Company
Entities over which the entity has control, joint control or significant influence
-
-
-
1,395
Key management personnel
303,184
215,219
-
-
Other related parties
134,892
103,024
-
-

The following amounts were outstanding at the reporting end date:

Amounts due to related parties
2024
2023
£
£
Group
Entities over which the group has control, joint control or significant influence
-
22,111
Key management personnel
168,291
128,873
Other related parties
102,478
85,166
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
35
Related party transactions
(Continued)
- 46 -
Company
Entities over which the company has control, joint control or significant influence
-
22,111
Key management personnel
168,291
128,873
Other related parties
102,478
82,966

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2024
2023
Balance
Balance
£
£
Group
Entities over which the group has control, joint control or significant influence
-
34,237
Company
Entities over which the company has control, joint control or significant influence
-
34,237
Other information

The company has taken exemption under paragraph 33.1A of FRS 102 of the requirement to disclose transactions with wholly owned subsidiaries of the company.

36
Directors' transactions

Dividends totalling £134,892 (2023 - £103,024) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan
-
-
163,810
163,810
-
163,810
163,810
37
Controlling party

There is no ultimate controlling party.

 

RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 47 -
38
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
3,239,111
1,357,639
Adjustments for:
Share of results of associates and joint ventures
(27,104)
(53,965)
Taxation (credited)/charged
(805,771)
161,125
Finance costs
51,006
35,229
Investment income
(145,544)
(38,244)
Gain on disposal of tangible fixed assets
(2,489)
-
Amortisation and impairment of intangible assets
(8,052)
220,282
Depreciation and impairment of tangible fixed assets
563,084
524,636
Foreign exchange gains on cash equivalents
(37,231)
(10,721)
Other gains and losses
42,133
-
Movements in working capital:
Decrease in stocks
-
76,717
(Increase)/decrease in debtors
(2,167,438)
167,047
Increase/(decrease) in creditors
2,229,345
(183,824)
Cash generated from operations
2,931,050
2,255,921
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 48 -
39
Analysis of changes in net funds - group
1 May 2023
Cash flows
Acquisitions and disposals
New finance leases
Other non-cash changes
30 April 2024
£
£
£
£
£
£
Cash at bank and in hand
9,321,378
570,580
384,237
-
-
10,276,195
Borrowings excluding overdrafts
(132,916)
188,843
(55,927)
-
-
-
Obligations under finance leases
(980,067)
695,935
(43,655)
(396,630)
(1,069,369)
(1,793,786)
8,208,395
1,455,358
284,655
(396,630)
(1,069,369)
8,482,409
RYDER ARCHITECTURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 49 -
40
Cash generated from operations - company
2024
2023
£
£
Profit for the year after tax
2,930,724
1,120,958
Adjustments for:
Taxation (credited)/charged
(788,648)
164,462
Finance costs
45,201
27,413
Investment income
(144,817)
(38,244)
Gain on disposal of tangible fixed assets
(2,489)
-
Depreciation and impairment of tangible fixed assets
552,344
495,181
Other gains and losses
214,019
199,476
Movements in working capital:
Decrease in stocks
-
76,717
(Increase)/decrease in debtors
(2,721,315)
81,536
Increase/(decrease) in creditors
2,462,112
(88,663)
Cash generated from operations
2,547,131
2,038,836
41
Analysis of changes in net funds - company
1 May 2023
Cash flows
New finance leases
Other non-cash changes
30 April 2024
£
£
£
£
£
Cash at bank and in hand
8,786,624
213,939
-
-
9,000,563
Obligations under finance leases
(980,067)
689,096
(396,630)
(1,069,369)
(1,756,970)
7,806,557
903,035
(396,630)
(1,069,369)
7,243,593
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