Ricky Fenby Ltd 09428085 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the sale and maintenance of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 09428085 2024-04-01 2025-03-31 09428085 2025-03-31 09428085 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 09428085 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 09428085 core:CurrentFinancialInstruments 2025-03-31 09428085 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 09428085 core:Non-currentFinancialInstruments 2025-03-31 09428085 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 09428085 core:Goodwill 2025-03-31 09428085 core:FurnitureFittings 2025-03-31 09428085 core:LandBuildings core:ShortLeaseholdAssets 2025-03-31 09428085 core:MotorVehicles 2025-03-31 09428085 core:PlantMachinery 2025-03-31 09428085 bus:SmallEntities 2024-04-01 2025-03-31 09428085 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 09428085 bus:FilletedAccounts 2024-04-01 2025-03-31 09428085 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09428085 bus:RegisteredOffice 2024-04-01 2025-03-31 09428085 bus:Director2 2024-04-01 2025-03-31 09428085 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09428085 core:Goodwill 2024-04-01 2025-03-31 09428085 core:FurnitureFittings 2024-04-01 2025-03-31 09428085 core:LandBuildings core:ShortLeaseholdAssets 2024-04-01 2025-03-31 09428085 core:LeaseholdImprovements 2024-04-01 2025-03-31 09428085 core:MotorVehicles 2024-04-01 2025-03-31 09428085 core:PlantMachinery 2024-04-01 2025-03-31 09428085 countries:EnglandWales 2024-04-01 2025-03-31 09428085 2024-03-31 09428085 core:Goodwill 2024-03-31 09428085 core:FurnitureFittings 2024-03-31 09428085 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 09428085 core:MotorVehicles 2024-03-31 09428085 core:PlantMachinery 2024-03-31 09428085 2023-04-01 2024-03-31 09428085 2024-03-31 09428085 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 09428085 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 09428085 core:CurrentFinancialInstruments 2024-03-31 09428085 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09428085 core:Non-currentFinancialInstruments 2024-03-31 09428085 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09428085 core:FurnitureFittings 2024-03-31 09428085 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 09428085 core:MotorVehicles 2024-03-31 09428085 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 09428085

Ricky Fenby Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Ricky Fenby Ltd

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 8

Ricky Fenby Ltd

(Registration number: 09428085)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 311,579 | 287,529
Current assets |  |  |
Stocks | 6 | 177,734 | 307,489
Debtors | 7 | 92,385 | 116,947
Cash at bank and in hand |  | 148,045 | 151,437
|  | 418,164 | 575,873
Creditors: Amounts falling due within one year | 8 | (239,427) | (334,411)
Net current assets |  | 178,737 | 241,462
Total assets less current liabilities |  | 490,316 | 528,991
Creditors: Amounts falling due after more than one year | 8 | (175,281) | (149,872)
Provisions for liabilities |  | (51,556) | (43,148)
Net assets |  | 263,479 | 335,971
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 263,379 | 335,871
Shareholders' funds |  | 263,479 | 335,971

For the financial year ending 31 March 2025 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 16 October 2025 and signed on its behalf by:

......................................... S Fenby Director

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

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:
7a King Street
Frome
Somerset
BA11 1BH

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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Leasehold improvements | 10% on reducing balance
Motor vehicles | 25% on reducing balance
Plant and machinery | 25% on reducing balance
Fixtures and fittings | 10% on reducing 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:

Asset class | Amortisation method and rate
Goodwill | 20% straight line

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.

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Leases

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.

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 directors) during the year, was 13 (2024 - 13).

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 20,000 | 20,000
At 31 March 2025 | 20,000 | 20,000
Amortisation
At 1 April 2024 | 20,000 | 20,000
At 31 March 2025 | 20,000 | 20,000
Net book value
At 31 March 2025 | - | -

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5 | Tangible assets

| Short leasehold land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £
Cost or valuation
At 1 April 2024 | 93,112 | 42,837 | 60,028 | 313,761
Additions | - | 13,000 | 11,096 | 123,964
Disposals | - | - | - | (82,867)
At 31 March 2025 | 93,112 | 55,837 | 71,124 | 354,858
Depreciation
At 1 April 2024 | 38,130 | 16,777 | 36,135 | 131,167
Charge for the year | 5,498 | 3,906 | 8,747 | 66,900
Eliminated on disposal | - | - | - | (43,908)
At 31 March 2025 | 43,628 | 20,683 | 44,882 | 154,159
Carrying amount
At 31 March 2025 | 49,484 | 35,154 | 26,242 | 200,699
At 31 March 2024 | 54,982 | 26,060 | 23,893 | 182,594

| Total £
Cost or valuation
At 1 April 2024 | 509,738
Additions | 148,060
Disposals | (82,867)
At 31 March 2025 | 574,931
Depreciation
At 1 April 2024 | 222,209
Charge for the year | 85,051
Eliminated on disposal | (43,908)
At 31 March 2025 | 263,352
Carrying amount
At 31 March 2025 | 311,579
At 31 March 2024 | 287,529

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

6 | Stocks

| 2025 £ | 2024 £
Stock | 177,734 | 307,489

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 49,635 | 103,459
Prepayments | 11,888 | 8,897
Other debtors | 30,862 | 4,591
| 92,385 | 116,947

8 | Creditors

Amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 57,347 | 54,880
Trade creditors |  | 150,694 | 214,990
Taxation and social security |  | 23,079 | 52,484
Accruals and deferred income |  | 4,936 | 4,002
Other creditors |  | 3,371 | 8,055
|  | 239,427 | 334,411

Amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 175,281 | 149,872

Ricky Fenby Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 29,152 | 34,431
Hire purchase contracts | 146,129 | 115,441
| 175,281 | 149,872

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,364 | 5,364
Hire purchase contracts | 51,983 | 49,516
| 57,347 | 54,880

10 | Related party transactions

Other transactions with directors

During the year the Company rented a property from Ricky and Sarah Fenby Partnership, which the directors are partners in, at a cost of £62,550 (2024 - £62,550).
The Company also received management charges from the partnership in respect of administration and bookkeeping services totalling £11,124 (2024 - £10,800).
The Company also maintained a loan with the Partnership and the balance owed from the Partnership at 31 March 2025 was £14,756 (2024 - £4,146). The movement related to management fees, expenses paid by the company on behalf of the Partnership and repayments to the Company from the Partnership.