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Registration number: 04119701

Riders of Bridgwater Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Riders of Bridgwater Ltd

Contents

Statement of Financial Position

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

Riders of Bridgwater Ltd

(Registration number: 04119701)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

797,113

791,325

Current assets

 

Stocks

3,246,706

3,974,775

Debtors

6

86,343

160,916

Cash at bank and in hand

 

1,740,560

656,075

 

5,073,609

4,791,766

Creditors: Amounts falling due within one year

7

(826,729)

(422,925)

Net current assets

 

4,246,880

4,368,841

Total assets less current liabilities

 

5,043,993

5,160,166

Provisions for liabilities

(40,803)

(37,615)

Net assets

 

5,003,190

5,122,551

Capital and reserves

 

Called up share capital

349

349

Other reserves

1

1

Profit and loss account

5,002,840

5,122,201

Shareholders' funds

 

5,003,190

5,122,551

For the financial year ending 30 November 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 2 May 2025 and signed on its behalf by:
 

 

Riders of Bridgwater Ltd

(Registration number: 04119701)
Statement of Financial Position as at 30 November 2024 (continued)


P S Jessopp
Company secretary and director


M P Jessopp
Director

 

Riders of Bridgwater Ltd

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Other reserves
£

Profit and loss account
£

Total
£

At 1 December 2023

349

1

5,122,201

5,122,551

Loss for the year

-

-

(119,361)

(119,361)

At 30 November 2024

349

1

5,002,840

5,003,190

Share capital
£

Other reserves
£

Profit and loss account
£

Total
£

At 1 December 2022

349

1

4,901,247

4,901,597

Profit for the year

-

-

220,954

220,954

At 30 November 2023

349

1

5,122,201

5,122,551

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
Riders House
Wylds Road
Bridgwater
Somerset
TA6 4DH
United Kingdom

Principal activity

The principal activity of the company is that of sale and services of motorcycles.

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Land and buildings

2% straight line

Plant and machinery

10% reducing balance

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Fixtures and fittings

10% reducing balance

Vehicles

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 39 (2023 - 41).

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

2024
£

     

Corporation tax (credit)

 

(36,452)

Deferred tax expense

 

3,188

At 30 November 2024

 

(33,264)

5

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

827,279

235,074

622,379

113,313

1,798,045

Additions

-

-

14,372

39,955

54,327

At 30 November 2024

827,279

235,074

636,751

153,268

1,852,372

Depreciation

At 1 December 2023

234,930

235,074

471,532

65,184

1,006,720

Charge for the year

9,991

-

16,523

22,025

48,539

At 30 November 2024

244,921

235,074

488,055

87,209

1,055,259

Carrying amount

At 30 November 2024

582,358

-

148,696

66,059

797,113

At 30 November 2023

592,349

-

150,847

48,129

791,325

Included within the net book value of land and buildings above is £582,358 (2023 - £592,349) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

26,187

30,832

Amounts owed by related parties

8

-

100,000

Other debtors

 

-

5,228

Prepayments

 

23,704

24,856

Income tax asset

36,452

-

 

86,343

160,916

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

497,496

297,867

Taxation and social security

117,752

818

Accruals and deferred income

211,079

123,838

Amounts owed to related parties

402

402

826,729

422,925

8

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

At 30 November 2024
£

P S Jessopp

(402)

(402)

     
   

 

2023

At 1 December 2022
£

At 30 November 2023
£

P S Jessopp

(402)

(402)

 

Riders of Bridgwater Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

8

Related party transactions (continued)

Other transactions with directors

The following is a summary of the directors' transactions with the company:

P S Jessopp: Rents received from the company £60,000 (2023: £60,000)

Other amounts £1,395 (2023: £2,000) Dividends received from the company £Nil (2023: Nil)


S M Massey Other amounts £1,485 (2023: £1,600)

M P Jessopp Dividends received from the company £Nil (2023: Nil)

P S J Properties Ltd Management charge received from the company £nil (2023: Nil) Rent received from the company £15,750 (2023: £15,000)

Balance owed to the company at 30 November 2024 £Nil (2023: £100,000)

Balance owed from the company at 30 November 2024 £Nil (2023: £Nil)

The amounts owed to PSJ Properties Ltd are interest free and repayable on demand.
PSJ Properties Ltd is an associated company, controlled by P S Jessopp. Rent is charged at arms length.

Also during the year the company bought services from PSJ Properties Ltd for the sum of £1,549 (2023: £1,511) which is charged at arms length. The company was under the ultimate control of Mr P S Jessopp who is a director and majority shareholder.