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Registration number: 04498777

Riley & Son (Railways) Limited
Annual Report and
Unaudited Financial Statements

31 August 2024

 

Riley & Son (Railways) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Riley & Son (Railways) Limited

Balance Sheet
31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

42,161

54,107

Cash at bank and in hand

 

100

100

 

42,261

54,207

Creditors: Amounts falling due within one year

5

(12,038)

(12,092)

Total assets less current liabilities

 

30,223

42,115

Creditors: Amounts falling due after more than one year

5

(20,295)

(30,506)

Net assets

 

9,928

11,609

Capital and reserves

 

Called up share capital

100

100

Retained earnings

9,828

11,509

Shareholders' funds

 

9,928

11,609

For the financial year ending 31 August 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
I V Riley
Director

Company Registration Number: 04498777

 

Riley & Son (Railways) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 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:
Irwell Works
Off Lower Woodhill Road
Bury
BL8 1AR

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).

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

The financial statements have been prepared on a going concern basis.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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.

 

Riley & Son (Railways) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 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.

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.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2023 - 4).

 

Riley & Son (Railways) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

4

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

42,161

54,107

 

42,161

54,107

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

10,983

11,087

Accruals and deferred income

 

1,055

1,005

 

12,038

12,092

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

20,295

30,506

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

20,295

30,506

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,043

10,147

Bank overdrafts

940

940

10,983

11,087