Ron Ramsdens Limited - Accounts to registrar (filleted) - small 18.2
Ron Ramsdens Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2022 |
for |
Ron Ramsdens Limited |
Ron Ramsdens Limited (Registered number: 00672165) |
Contents of the Financial Statements |
for the Year Ended 31 January 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ron Ramsdens Limited |
Company Information |
for the Year Ended 31 January 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
55 Victoria Street |
Grimsby |
North East Lincs |
DN31 1UX |
Ron Ramsdens Limited (Registered number: 00672165) |
Balance Sheet |
31 January 2022 |
31.1.22 | 31.1.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Ron Ramsdens Limited (Registered number: 00672165) |
Balance Sheet - continued |
31 January 2022 |
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 |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements |
for the Year Ended 31 January 2022 |
1. | STATUTORY INFORMATION |
Ron Ramsdens Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Sale of goods |
Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
The Company has transferred the significant risks and rewards of ownership to the buyer. |
The Company retains neither the continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold. |
The amount of revenue can be measured reliably |
It is probable that the Company will receive the consideration due under the transaction |
The costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and an accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. |
Depreciation is provided on the following basis: |
Land and buildings | - | at varying rates on cost |
Plant and machinery | - | at varying rates on cost |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Goods for resale are stated at the lower of cost and net realiable value, being the estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stocks. Cost is based on the cost of purchase on a first in, first out basis. |
At each reporting date, finished goods for resale are assessed for impairment. If goods for resale are impaired, the carrying amounts are reduced to selling price less costs to complete and sell. The impairment is recognised immediately in the income statement. |
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. |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Defined contribution pension plan |
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. |
The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits within financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 February 2021 |
Additions |
At 31 January 2022 |
AMORTISATION |
At 1 February 2021 |
Charge for year |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2021 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 January 2022 |
DEPRECIATION |
At 1 February 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
Included in cost of land and buildings is freehold land of £ 81,109 (2021 - £ 81,109 ) which is not depreciated. |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 February 2021 |
Revaluations | ( |
) |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
6. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 January 2022 is represented by: |
Other |
investments |
£ |
Valuation in 2016 | (6,071 | ) |
Valuation in 2017 | 1,792 |
Valuation in 2018 | 2,467 |
Valuation in 2019 | 1,943 |
Valuation in 2020 | 2,479 |
Valuation in 2021 | (595 | ) |
Valuation in 2022 | (842 | ) |
Cost | 29,062 |
30,235 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2021 |
and 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
In 2016 the investment property was purchased at a cost of £127,454. The directors believe this value is still relevant for current market value. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Ron Ramsdens Limited (Registered number: 00672165) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 28,417 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.22 | 31.1.21 |
£ | £ |
Bank overdrafts |
Bank loans |
Bank loans and overdrafts are secured by way of a floating charge on the Company's assets and fixed charges on its freehold land and its leasehold property and over all its book debts. The bank also holds an unlimited Multilateral Guarantee between D B Ramsden & Company Limited, Ron Ramsdens Limited, George Street Builders Limited and Re-Scan Limited dated 3 January 2013, as approved by the board on 6 March 2013. |
At the balance sheet date the total of the contingent liability under the guarantee was £3,126,372 (2021: £2,521,717). |
12. | PENSION COMMITMENTS |
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,670 (2021: £26,887). Contributions totalling £763 (2021: £2,001) were payable to the fund at the reporting date and are included in creditors. |
13. | RELATED PARTY DISCLOSURES |
During the year the company had the following related party transactions: |
31.1.22 | 31.1.21 |
£ | £ |
Purchases made | 4,284,205 | 3,775,856 |
Amounts owed (to)/from | (32,037 | ) | (537 | ) |
The related parties are companies of which Mr N Ramsden is also a director. |
14. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |