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Company No: 06779183 (England and Wales)

RANSOMSPARES.CO.UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

RANSOMSPARES.CO.UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

RANSOMSPARES.CO.UK LIMITED

BALANCE SHEET

As at 31 December 2024
RANSOMSPARES.CO.UK LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 359,877 415,944
Investments 5 437,600 454,069
797,477 870,013
Current assets
Stocks 610,489 630,698
Debtors 6 335,574 326,360
Cash at bank and in hand 463,101 864,072
1,409,164 1,821,130
Creditors: amounts falling due within one year 7 ( 645,032) ( 793,067)
Net current assets 764,132 1,028,063
Total assets less current liabilities 1,561,609 1,898,076
Provision for liabilities 8 ( 86,554) ( 99,217)
Net assets 1,475,055 1,798,859
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,474,955 1,798,759
Total shareholders' funds 1,475,055 1,798,859

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 financial statements of Ransomspares.co.uk Limited (registered number: 06779183) were approved and authorised for issue by the Board of Directors on 07 July 2025. They were signed on its behalf by:

D Gilbert
Director
L M Gilbert
Director
RANSOMSPARES.CO.UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
RANSOMSPARES.CO.UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ransomspares.co.uk Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3 Flushing Meadow, Yeobridge Trade Park, Yeovil, BA21 5DL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 4 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 10 years straight line
Fixtures and fittings 20 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the investments are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities 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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Other financial assets
Other financial assets, including investments in cryptocurrencies, are initially measured at fair value, which is normally
the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in
profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 30

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 24,000 24,000
At 31 December 2024 24,000 24,000
Accumulated amortisation
At 01 January 2024 24,000 24,000
At 31 December 2024 24,000 24,000
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2024 112,763 274,873 39,560 168,120 595,316
Additions 0 0 0 13,518 13,518
At 31 December 2024 112,763 274,873 39,560 181,638 608,834
Accumulated depreciation
At 01 January 2024 22,807 36,256 27,963 92,346 179,372
Charge for the financial year 10,061 27,487 2,319 29,718 69,585
At 31 December 2024 32,868 63,743 30,282 122,064 248,957
Net book value
At 31 December 2024 79,895 211,130 9,278 59,574 359,877
At 31 December 2023 89,956 238,617 11,597 75,774 415,944

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 950,000 950,000
At 31 December 2024 950,000 950,000
Provisions for impairment
At 01 January 2024 495,931 495,931
Impairment 16,469 16,469
At 31 December 2024 512,400 512,400
Carrying value at 31 December 2024 437,600 437,600
Carrying value at 31 December 2023 454,069 454,069

The other investments (cryptocurrency) were revalued at 31 December 2024 by the directors on an open market basis. The directors have considered the valuation of all other investments at the balance sheet date and the conclusion drawn is that they remain materially correct.

6. Debtors

2024 2023
£ £
Amounts owed by directors 189,762 159,181
Prepayments 10,380 51,171
Corporation tax 65,295 0
Other debtors 70,137 116,008
335,574 326,360

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 462,460 354,719
Accruals 22,139 35,867
Taxation and social security 155,560 397,608
Other creditors 4,873 4,873
645,032 793,067

8. Provision for liabilities

2024 2023
£ £
Deferred tax 86,554 99,217

9. Related party transactions

Transactions with the entity's directors

Advances

The joint directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000, per director, at the official HMRC rates.

At 1 January 2024, the balance owed by the directors was £159,181. During the year, £200,581 was advanced to the directors and £170,000 was repaid by the directors. At 31 December 2024, the balance owed by the directors was £189,762.

At 1 January 2023, the balance owed by the directors was £223,398. During the year, £211,063 was advanced to the directors and £275,280 was repaid by the directors. At 31 December 2023, the balance owed by the directors was £159,181.