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Filleted

Registration number: 11612273

RAM Trucks(UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

RAM Trucks(UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

RAM Trucks(UK) Limited

Company Information

Director

Mr R J Jones

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

RAM Trucks(UK) Limited

(Registration number: 11612273)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

85,892

61,573

Current assets

 

Debtors

6

13,848

1,255

Cash at bank and in hand

 

8

1

 

13,856

1,256

Creditors: Amounts falling due within one year

7

(50,541)

(46,781)

Net current liabilities

 

(36,685)

(45,525)

Total assets less current liabilities

 

49,207

16,048

Creditors: Amounts falling due after more than one year

7

(38,237)

(14,247)

Net assets

 

10,970

1,801

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

10,870

1,701

Total equity

 

10,970

1,801

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 July 2025
 

.........................................
Mr R J Jones
Director

   
     
 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

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:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 25 July 2025.

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.

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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current 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.

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

Plant and machinery

10% reducing balance

Office equipment

25% reducing balance

Motor vehicles

20% reducing balance

Fixtures and fittings

15% reducing balance

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.

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.

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.

 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

9,891

6,955

 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

13,990

5,393

1,527

56,616

77,526

Additions

-

-

-

46,209

46,209

Disposals

-

-

-

(22,500)

(22,500)

At 31 October 2023

13,990

5,393

1,527

80,325

101,235

Depreciation

At 1 November 2022

2,311

1,425

580

11,637

15,953

Charge for the year

1,168

397

189

8,136

9,890

Eliminated on disposal

-

-

-

(10,500)

(10,500)

At 31 October 2023

3,479

1,822

769

9,273

15,343

Carrying amount

At 31 October 2023

10,511

3,571

758

71,052

85,892

At 31 October 2022

11,679

3,968

947

44,979

61,573

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

6

Debtors

2023
£

2022
£

Trade debtors

13,848

1,255

13,848

1,255

 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

7,370

7,100

Trade creditors

 

10,035

3,535

Taxation and social security

 

7,475

19,255

Directors' loan accounts

10

16,845

6,299

Corporation tax liability

 

8,816

10,592

 

50,541

46,781

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

38,237

14,247

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,798

6,747

HP and finance lease liabilities

33,439

7,500

38,237

14,247

 

RAM Trucks(UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,600

2,600

HP and finance lease liabilities

4,770

4,500

7,370

7,100

10

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Mr R J Jones

Interest free loan repayable on demand

(6,299)

(10,546)

(16,845)

       
     

 

2022

At 1 November 2021
£

Other payments made to company by director
£

At 31 October 2022
£

Mr R J Jones

Interest free loan repayable on demand

9,055

(15,354)

(6,299)

       
     

 

Summary of transactions with other related parties

Tint My Ride
 
Transfers in the period between RAM Trucks(UK) Limited and Tint My Ride are considered as related party transactions due to common control and ownership by R Jones director of RAM Trucks(UK) Limited.

 
At the balance sheet date £27,340 was owed to Tint My Ride by RAM Trucks(UK) Limited.