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Registration number: 09475704

Rangers (Durrington) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Rangers (Durrington) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 11

 

Rangers (Durrington) Limited

Company Information

Directors

Mrs K Castle

Mr David Castle

Company secretary

Mr David Castle

Registered office

Bulford Road
Durrington
Salisbury
Wiltshire
SP4 8DL

Accountants

Elysium
Chartered AccountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

Rangers (Durrington) Limited

(Registration number: 09475704)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

54,039

99,124

Current assets

 

Stocks

5

8,826

16,083

Debtors

6

329,495

164,074

Cash at bank and in hand

 

9,166

56,596

 

347,487

236,753

Creditors: Amounts falling due within one year

7

(214,924)

(202,878)

Net current assets

 

132,563

33,875

Total assets less current liabilities

 

186,602

132,999

Creditors: Amounts falling due after more than one year

7

(7,576)

(25,758)

Provisions for liabilities

(13,510)

(34,742)

Net assets

 

165,516

72,499

Capital and reserves

 

Called up share capital

100

100

Retained earnings

165,416

72,399

Shareholders' funds

 

165,516

72,499

 

Rangers (Durrington) Limited

(Registration number: 09475704)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 30 April 2025 and signed on its behalf by:
 

.........................................
Mrs K Castle
Director

 

Rangers (Durrington) Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

72,399

72,499

Profit for the year

-

188,644

188,644

Dividends

-

(95,627)

(95,627)

At 31 December 2024

100

165,416

165,516

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

3,140

3,240

Profit for the year

-

152,539

152,539

Dividends

-

(83,280)

(83,280)

At 31 December 2023

100

72,399

72,499

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

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).

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.

Going concern

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vehicles

25 % Straight line

Plant and machinery

15% Reduce balance

Computer equipment

33% Reduce balance

Fixtures & Fittings

15% Reduce balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 11).

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

3

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 31 December 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

15,540

111,600

5,978

115,984

249,102

Additions

-

6,399

2,906

-

9,305

Disposals

-

(13,231)

(461)

(115,859)

(129,551)

At 31 December 2024

15,540

104,768

8,423

125

128,856

Depreciation

At 1 January 2024

7,293

62,914

3,197

76,574

149,978

Charge for the year

1,237

7,202

1,422

3,849

13,710

Eliminated on disposal

-

(8,355)

(218)

(80,298)

(88,871)

At 31 December 2024

8,530

61,761

4,401

125

74,817

Carrying amount

At 31 December 2024

7,010

43,007

4,022

-

54,039

At 31 December 2023

8,247

48,686

2,781

39,410

99,124

5

Stocks

2024
£

2023
£

Other inventories

8,826

16,083

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

11,341

5,672

Amounts owed by related parties

9

269,955

-

Prepayments

 

13,253

12,024

Other debtors

 

34,946

146,378

   

329,495

164,074

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

18,182

66,066

Trade creditors

 

63,371

65,982

Taxation and social security

 

98,306

54,459

Accruals and deferred income

 

-

654

Other creditors

 

35,065

15,717

 

214,924

202,878

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

7,576

25,758

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,576

25,758

Current loans and borrowings

2024
£

2023
£

Bank borrowings

18,182

18,182

Bank overdrafts

-

47,884

18,182

66,066

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Bank borrowings

Covid Loan is denominated in Pounds with a nominal interest rate of 2.84%, and the final instalment is due on 14 May 2026. The carrying amount at year end is £25,758 (2023 - £43,939).

9

Related party transactions

During the year, the company occupied commercial premised owned jointly by Mr M Ranger, Mrs S Ranger and Mr A Ranger. The company occupy the site free of rent.

The company also occupied a site owned jointly by Mr A Ranger and Mrs K Keane. During the year, the company paid a rent of £3,400 (2023 : £10,200).

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr M Ranger

Loan from company

46,844

4,603

(51,447)

-

Mrs K Keane

Loan from company

21,548

7,601

(29,149)

-

Mr A Ranger

Loan from company

63,213

13,347

(76,560)

-

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Mr M Ranger

Loan from company

26,738

20,106

46,844

Mrs K Keane

Loan from company

(43)

21,591

21,548

Mr A Ranger

Loan from company

47,690

15,523

63,213

 

Rangers (Durrington) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

30,334

45,907

Contributions paid to money purchase schemes

2,450

86,521

32,784

132,428