Rycal Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07472982 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

RYCAL GROUP LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Calton

N A Willis

REGISTERED OFFICE:

Unit 6a Callow Park

Callow Hill

Brinkworth

Chippenham

SN15 5FD

REGISTERED NUMBER:

07472982 (England and Wales)

ACCOUNTANTS:

Nigel B Butler Limited

Basepoint Business Centre

Rivermead Drive

Swindon

Wiltshire

SN5 7EX

FIXED ASSETS

Tangible assets

4

810

1,282

CURRENT ASSETS

Debtors

96,595

40,332

Cash at bank and in hand

97

7,889

96,692

48,221

CREDITORS

Amounts falling due within one year

52,031

55,933

NET CURRENT ASSETS/(LIABILITIES)

44,661

(7,712

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,471

(6,430

)

CREDITORS

Amounts falling due after more than one year

5

(44,491

)

-

PROVISIONS FOR LIABILITIES

(154

)

(244

)

NET ASSETS/(LIABILITIES)

826

(6,674

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

626

(6,874

)

SHAREHOLDERS' FUNDS

826

(6,674

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2021 and were signed on its behalf by:

N A Willis - Director

S Calton - Director

1.	STATUTORY INFORMATION

Rycal Group Ltd 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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

The company received grants under the Small Business Support Grant and Bounce Back Loan Scheme totalling £10,729 during the year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

6,861

DEPRECIATION

At 1 January 2020

5,579

Charge for year

472

At 31 December 2020

6,051

NET BOOK VALUE

At 31 December 2020

810

At 31 December 2019

1,282

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.20

31.12.19

£

£

Repayable by instalments

Bank loans more 5 yr by instal

4,407

-

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

S Calton

Balance outstanding at start of year

18,173

-

Amounts advanced

45,500

18,173

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

63,673

18,173

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Calton.