2023-06-012024-05-312024-05-31false12626561RIDE AND RESTORE 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RIDE AND RESTORE LIMITED

Registered Number
12626561
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

RIDE AND RESTORE LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Christian Bell

Registered Address

179 Park Lane
Poynton
Stockport
SK12 1RH

Registered Number

12626561 (England and Wales)
RIDE AND RESTORE LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38,5596,506
8,5596,506
Current assets
Stocks410,0006,000
Debtors581-
Cash at bank and on hand7,7319,359
17,81215,359
Creditors amounts falling due within one year6(9,854)(8,103)
Net current assets (liabilities)7,9587,256
Total assets less current liabilities16,51713,762
Net assets16,51713,762
Capital and reserves
Called up share capital100100
Profit and loss account16,41713,662
Shareholders' funds16,51713,762
The financial statements were approved and authorised for issue by the Director on 16 January 2025, and are signed on its behalf by:
Christian Bell
Director
Registered Company No. 12626561
RIDE AND RESTORE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 2323,42431123,735
Additions8,935-8,935
At 31 May 2432,35931132,670
Depreciation and impairment
At 01 June 2317,11711217,229
Charge for year6,7781046,882
At 31 May 2423,89521624,111
Net book value
At 31 May 248,464958,559
At 31 May 236,3071996,506
4.Stocks

2024

2023

££
Raw materials and consumables10,0006,000
Total10,0006,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors81-
Total81-
Short term trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables63845
Taxation and social security5,7895,707
Other creditors3,427-
Accrued liabilities and deferred income-2,351
Total9,8548,103
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
7.Creditors: amounts due after one year
8.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.