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REGISTERED NUMBER: 08617357 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

RIDE OF THE LEGENDS LIMITED

RIDE OF THE LEGENDS LIMITED (REGISTERED NUMBER: 08617357)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Balance sheet 1

Notes to the financial statements 2


RIDE OF THE LEGENDS LIMITED (REGISTERED NUMBER: 08617357)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 647 343

Current assets
Stocks 500 500
Debtors 5 581 5,158
Cash at bank 560 6,001
1,641 11,659
Creditors
Amounts falling due within one year 6 6,348 6,066
Net current (liabilities)/assets (4,707 ) 5,593
Total assets less current liabilities (4,060 ) 5,936

Creditors
Amounts falling due after more than one year 7 2,298 4,747
Net (liabilities)/assets (6,358 ) 1,189

Capital and reserves
Called up share capital 8 404 404
Retained earnings (6,762 ) 785
Shareholders' funds (6,358 ) 1,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





Mr M Gore - Director


RIDE OF THE LEGENDS LIMITED (REGISTERED NUMBER: 08617357)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. Statutory information

Ride of the Lions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08617357. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 3 Connaught Drive, Weybridge, Surrey, KT13 0XA.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company has made a loss during the year of £7,547 and has a deficiency of assets at the year end of £6,358. The Company is dependent upon the continued support of its directors. The directors have confirmed their support of the Company over the next 12 months, in order that it can meet its day to day working capital requirements

Turnover
Turnover represents amounts received for the provision of fundraising events during the year, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

RIDE OF THE LEGENDS LIMITED (REGISTERED NUMBER: 08617357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 August 2023 2,256 498 2,754
Additions 520 - 520
At 31 July 2024 2,776 498 3,274
Depreciation
At 1 August 2023 2,031 380 2,411
Charge for year 186 30 216
At 31 July 2024 2,217 410 2,627
Net book value
At 31 July 2024 559 88 647
At 31 July 2023 225 118 343

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Directors' current accounts - 2,000
VAT 581 2,086
Prepayments - 1,072
581 5,158

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 2,449 2,388
Trade creditors 1,194 564
Directors' current accounts 666 1,264
Accruals and deferred income 2,039 1,850
6,348 6,066

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 2,298 2,449
Bank loans - 2-5 years - 2,298
2,298 4,747

RIDE OF THE LEGENDS LIMITED (REGISTERED NUMBER: 08617357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 Ordinary £1 400 400
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
404 404

9. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr M Gore
Balance outstanding at start of year 2,000 -
Amounts advanced - 2,000
Amounts repaid (2,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,000

10. Ultimate controlling party

The company is controlled by three of its directors, Mr M Gore and Mr and Mrs P Winterbottom who between them own 75% of the issued voting share capital, but who are also responsible for the business day to day running.