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Registered number: 06292231
RYE Developments Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Statement of Financial Position
Registered number: 06292231
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 107,840 37,491
107,840 37,491
CURRENT ASSETS
Stocks 19,500 25,932
Debtors 5 77,254 86,976
Cash at bank and in hand 151,769 70,878
248,523 183,786
Creditors: Amounts Falling Due Within One Year 6 (184,596 ) (187,594 )
NET CURRENT ASSETS (LIABILITIES) 63,927 (3,808 )
TOTAL ASSETS LESS CURRENT LIABILITIES 171,767 33,683
Creditors: Amounts Falling Due After More Than One Year 7 (56,429 ) (19,230 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,333 ) (7,123 )
NET ASSETS 110,005 7,330
CAPITAL AND RESERVES
Called up share capital 9 2 2
Income Statement 110,003 7,328
SHAREHOLDERS' FUNDS 110,005 7,330
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Richard Jennings
Director
24/03/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Income Statement Total
£ £ £
As at 1 July 2022 2 2,165 2,167
Profit for the year and total comprehensive income - 50,163 50,163
Dividends paid - (45,000) (45,000)
As at 30 June 2023 and 1 July 2023 2 7,328 7,330
Profit for the year and total comprehensive income - 182,675 182,675
Dividends paid - (80,000) (80,000)
As at 30 June 2024 2 110,003 110,005
Page 3
Page 4
Notes to the Financial Statements
1. General Information
RYE Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06292231 . The registered office is The Greenhouse, 106-108 Ashbourne Road, Derby, Derbyshire, DE22 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. 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 statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

2.6. Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 3
4 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 4,000 102,138 2,088 108,226
Additions 10,546 74,990 - 85,536
As at 30 June 2024 14,546 177,128 2,088 193,762
Depreciation
As at 1 July 2023 3,964 65,302 1,469 70,735
Provided during the period 2,646 12,334 207 15,187
As at 30 June 2024 6,610 77,636 1,676 85,922
Net Book Value
As at 30 June 2024 7,936 99,492 412 107,840
As at 1 July 2023 36 36,836 619 37,491
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 59,421 22,793
Other debtors 17,833 64,183
77,254 86,976
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,988 2,110
Trade creditors 47,571 109,372
Bank loans and overdrafts 9,936 9,936
Other creditors 16,007 24,569
Taxation and social security 99,094 41,607
184,596 187,594
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 46,954 -
Bank loans 9,475 19,230
56,429 19,230
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,988 2,110
Later than one year and not later than five years 46,954 -
58,942 2,110
58,942 2,110
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loan from director:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Richard Jennings (40,637 ) (63,441 ) 109,084 - 5,006
The above loan is unsecured, interest free and repayable on demand.
Page 6