www.ridestalbans.com Ltd 31/07/2021 iXBRL

www.ridestalbans.com Ltd 31/07/2021 iXBRL

WWW.RIDESTALBANS.COM LTD - Company Information

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Company registration number: 12616137
www.ridestalbans.com Ltd
Unaudited filleted financial statements
31 July 2021
www.ridestalbans.com Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
www.ridestalbans.com Ltd
Directors and other information
Directors Michael Narramore
Maureen Narramore
Jonathan Burden
Company number 12616137
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
www.ridestalbans.com Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of www.ridestalbans.com Ltd
Period ended 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of www.ridestalbans.com Ltd for the period ended 31 July 2021 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of www.ridestalbans.com Ltd, as a body, in accordance with the terms of our engagement letter dated 28 May 2020. Our work has been undertaken solely to prepare for your approval the financial statements of www.ridestalbans.com Ltd and state those matters that we have agreed to state to the board of directors of www.ridestalbans.com Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than www.ridestalbans.com Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that www.ridestalbans.com Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of www.ridestalbans.com Ltd. You consider that www.ridestalbans.com Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of www.ridestalbans.com Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
22 April 2022
www.ridestalbans.com Ltd
Statement of financial position
31 July 2021
31/07/21
Note £ £
Current assets
Stocks 62,708
Debtors 5 4,582
Cash at bank and in hand 22,630
_______
89,920
Creditors: amounts falling due
within one year 6 ( 42,589)
_______
Net current assets 47,331
_______
Total assets less current liabilities 47,331
_______
Net assets 47,331
_______
Capital and reserves
Called up share capital 1,000
Profit and loss account 46,331
_______
Shareholders funds 47,331
_______
For the period ending 31 July 2021 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 April 2022 , and are signed on behalf of the board by:
Michael Narramore Jonathan Burden
Director Director
Company registration number: 12616137
www.ridestalbans.com Ltd
Statement of changes in equity
Period ended 31 July 2021
Called up share capital Profit and loss account Total
£ £ £
At 21 May 2020 - - -
Profit for the period 46,331 46,331
_______ _______ _______
Total comprehensive income for the period - 46,331 46,331
Issue of shares 1,000 1,000
_______ _______ _______
Total investments by and distributions to owners 1,000 - 1,000
_______ _______ _______
At 31 July 2021 1,000 46,331 47,331
_______ _______ _______
www.ridestalbans.com Ltd
Notes to the financial statements
Period ended 31 July 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3
5. Debtors
31/07/21
£
Other debtors 4,582
_______
6. Creditors: amounts falling due within one year
31/07/21
£
Trade creditors 10,417
Amounts owed to group undertakings and undertakings in which the company has a participating interest 19,070
Corporation tax 10,938
Other creditors 2,164
_______
42,589
_______
7. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/07/21
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Michael Narramore - 1,784 1,784
Maureen Narramore - ( 716) ( 716)
Jonathan Burden - 2,500 2,500
_______ _______ _______
- 3,568 3,568
_______ _______ _______
8. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
Period Period
ended ended
31/07/21 31/07/21
£ £
www.jmbmotorsports.com Ltd 84,696 ( 19,070)
_______ _______
www.jmbmotorsports.com Ltd owns 50% of the shares of www.ridestalbans.com Ltd . Jonathan Burden is a director of both companies and owns 100% of the shares of www.jmbmotorsport.com Ltd.