REGISTERED NUMBER: 03755962 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Tim Ruff Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T J Ruff

Mrs C L Ruff

SECRETARY:

Mrs C L Ruff

REGISTERED OFFICE:

28 Bagdale

Whitby

YO21 1QL

REGISTERED NUMBER:

03755962 (England and Wales)

ACCOUNTANTS:

Philip Burley & Co

Chartered Accountants

28 Bagdale

Whitby

YO21 1QL

FIXED ASSETS

Tangible assets

4

191,048

195,074

CURRENT ASSETS

Stocks

125,156

108,568

Debtors

5

91,090

57,548

Cash at bank and in hand

92,296

73,475

308,542

239,591

CREDITORS

Amounts falling due within one year

6

47,479

22,577

NET CURRENT ASSETS

261,063

217,014

TOTAL ASSETS LESS CURRENT LIABILITIES

452,111

412,088

PROVISIONS FOR LIABILITIES

7

8,811

9,576

NET ASSETS

443,300

402,512

CAPITAL AND RESERVES

Called up share capital

500

500

Share premium

136,417

136,417

Retained earnings

306,383

265,595

SHAREHOLDERS' FUNDS

443,300

402,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr T J Ruff - Director

Mrs C L Ruff - Director

1.	STATUTORY INFORMATION

Tim Ruff Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold fixtures & fittings

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Fixtures

Long

fixtures

and

leasehold

& fittings

fittings

£

£

£

COST

At 1 January 2024

144,675

26,004

45,238

Additions

-

-

3,121

At 31 December 2024

144,675

26,004

48,359

DEPRECIATION

At 1 January 2024

-

21,185

22,072

Charge for year

-

482

2,629

At 31 December 2024

-

21,667

24,701

NET BOOK VALUE

At 31 December 2024

144,675

4,337

23,658

At 31 December 2023

144,675

4,819

23,166

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

42,995

4,180

263,092

Additions

-

847

3,968

At 31 December 2024

42,995

5,027

267,060

DEPRECIATION

At 1 January 2024

20,981

3,780

68,018

Charge for year

4,403

480

7,994

At 31 December 2024

25,384

4,260

76,012

NET BOOK VALUE

At 31 December 2024

17,611

767

191,048

At 31 December 2023

22,014

400

195,074

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

91,090

57,548

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

325

44

Trade creditors

12,118

1,905

Taxation and social security

32,129

18,366

Other creditors

2,907

2,262

47,479

22,577

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

8,811

9,576

Deferred

tax

£

Balance at 1 January 2024

9,576

Balance at 31 December 2024

9,576

**

BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF

-

DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB

8,811

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr T J Ruff

Balance outstanding at start of year

54,063

-

Amounts advanced

-

94,736

Amounts repaid

-

(40,673

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

54,063