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REGISTERED NUMBER: 04784866 (England and Wales)





BASSETT & RYDER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BASSETT & RYDER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr M D Ryder
Mr M H Ryder
Mr L Ryder





SECRETARY: Mrs A Ryder





REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH





REGISTERED NUMBER: 04784866 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 136,315 116,623

CURRENT ASSETS
Stocks 6 9,275 9,738
Debtors 7 706,676 1,036,233
Cash at bank 636,311 442,787
1,352,262 1,488,758
CREDITORS
Amounts falling due within one year 8 366,459 468,144
NET CURRENT ASSETS 985,803 1,020,614
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,122,118

1,137,237

CREDITORS
Amounts falling due after more than one
year

9

(10,224

)

(22,698

)

PROVISIONS FOR LIABILITIES (29,176 ) (26,939 )
NET ASSETS 1,082,718 1,087,600

CAPITAL AND RESERVES
Called up share capital 11 302 302
Retained earnings 1,082,416 1,087,298
SHAREHOLDERS' FUNDS 1,082,718 1,087,600

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

BALANCE SHEET - continued
31 JULY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





Mr M D Ryder - Director


BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


1. STATUTORY INFORMATION

Bassett & Ryder Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future . The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the greatest level of uncertainty are addressed below:

(i) Stock provisioning

When calculating the stock provision, management considers the nature and condition of the inventory as well as applying assumptions around anticipated saleability of work in progress and future usage of raw materials .

(ii) Amounts recoverable on contracts

The company calculates any income on its contracts that has not been invoiced at the end of the financial year and makes a provision for this amount.

Turnover
Turnover represents the value excluding Value Added Tax of plastering services provided to customers during the year. In respect of plastering services provided, all income is taken to income statement at the same point as the right to receive consideration has been acquired.

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 tax
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors & creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price .Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 income statement over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 9,209 10,765 207,826 13,876 241,676
Additions - 4,907 73,685 - 78,592
Disposals - - (39,699 ) - (39,699 )
At 31 July 2024 9,209 15,672 241,812 13,876 280,569
DEPRECIATION
At 1 August 2023 5,736 8,859 98,386 12,072 125,053
Charge for year 521 1,025 42,125 604 44,275
Eliminated on disposal - - (25,074 ) - (25,074 )
At 31 July 2024 6,257 9,884 115,437 12,676 144,254
NET BOOK VALUE
At 31 July 2024 2,952 5,788 126,375 1,200 136,315
At 31 July 2023 3,473 1,906 109,440 1,804 116,623

6. STOCKS
2024 2023
£    £   
Stocks 9,275 9,738

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 577,251 890,151
Amounts recoverable on contract 38,677 52,110
VAT 84,871 89,631
Prepayments and accrued income 5,877 4,341
706,676 1,036,233

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 12,474 16,728
Trade creditors 168,056 180,068
Corporation tax 75,844 108,651
Social security and other taxes 28,439 42,952
Other creditors 14,738 83,537
Pension control - 275
Directors' current accounts 28,256 26,591
Accruals and deferred income 38,652 9,342
366,459 468,144

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 10,224 22,698

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 12,474 16,728
Between one and five years 10,224 22,698
22,698 39,426

BASSETT & RYDER LIMITED (REGISTERED NUMBER: 04784866)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
2 Ordinary C £1 2 2

302 302

12. RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £81,488 (2023: £79,783).