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Registration number: 12064950

Ryan Arnel Farriery Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Ryan Arnel Farriery Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Ryan Arnel Farriery Limited

Company Information

Directors

Mr R A Arnel

Mrs J H Arnel

Registered office

LHP Chartered Certified Accountants
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Ryan Arnel Farriery Limited

(Registration number: 12064950)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

17,484

14,096

Current assets

 

Debtors

6

44,642

30,445

Cash at bank and in hand

 

6,997

1,751

 

51,639

32,196

Creditors: Amounts falling due within one year

7

(24,670)

(42,702)

Net current assets/(liabilities)

 

26,969

(10,506)

Total assets less current liabilities

 

44,453

3,590

Creditors: Amounts falling due after more than one year

7

(43,400)

(2,324)

Net assets

 

1,053

1,266

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

953

1,166

Total equity

 

1,053

1,266

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Ryan Arnel Farriery Limited

(Registration number: 12064950)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
Mr R A Arnel
Director

   
     
 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
LHP Chartered Certified Accountants
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the Board on 27 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

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

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.

 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

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

Motor Vehicles

25% Reducing balance

Plant & Equipment

25% Reducing balance

Other Tangible Assets

No depreciation

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.

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,911

2,443

 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Plant and machinery
£

Other tangible assets
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

6,195

6,500

16,440

29,135

Additions

-

-

10,500

10,500

Disposals

-

-

(16,440)

(16,440)

At 30 June 2024

6,195

6,500

10,500

23,195

Depreciation

At 1 July 2023

3,800

-

11,239

15,039

Charge for the year

-

-

1,911

1,911

Eliminated on disposal

-

-

(11,239)

(11,239)

At 30 June 2024

3,800

-

1,911

5,711

Carrying amount

At 30 June 2024

2,395

6,500

8,589

17,484

At 30 June 2023

2,395

6,500

5,201

14,096

6

Debtors

2024
£

2023
£

Trade debtors

6,876

15,761

Other debtors

37,766

14,684

44,642

30,445

 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

8,150

7,788

Trade creditors

 

719

763

Taxation and social security

 

6,681

6,226

Corporation tax liability

 

8,773

27,640

Other creditors

 

347

285

 

24,670

42,702

Due after one year

 

Loans and borrowings

9

43,400

2,324

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

43,400

2,324

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

         
 

Ryan Arnel Farriery Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

8,400

2,324

Other borrowings

35,000

-

43,400

2,324

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,000

5,000

HP and finance lease liabilities

3,150

2,788

8,150

7,788

10

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr R A Arnel

Interest free loan repayable on demand

7,342

47,263

(38,884)

15,721

         
       

Mrs J H Arnel

Interest free loan repayable on demand

7,342

47,263

(38,884)

15,721

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr R A Arnel

Interest free loan repayable on demand

8,211

33,954

(34,823)

7,342

         
       

Mrs J H Arnel

Interest free loan repayable on demand

8,211

33,954

(34,823)

7,342