Ryecourt Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04120697 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

RYECOURT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D Bell

Mrs L Symms

Mr K Bell

Mrs B C Bell

SECRETARY:

Mrs B C Bell

REGISTERED OFFICE:

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

REGISTERED NUMBER:

04120697 (England and Wales)

ACCOUNTANTS:

Jones Harris Limited

Chartered Accountants

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Tangible assets

4

2,101,865

2,140,772

Investments

5

1

1

2,101,866

2,140,773

CURRENT ASSETS

Stocks

1,213

978

Debtors

2,528,934

2,238,358

Cash at bank

533,940

510,060

3,064,087

2,749,396

CREDITORS

Amounts falling due within one year

2,331,636

2,349,861

NET CURRENT ASSETS

732,451

399,535

TOTAL ASSETS LESS CURRENT LIABILITIES

2,834,317

2,540,308

CREDITORS

Amounts falling due after more than one year

153,694

195,482

NET ASSETS

2,680,623

2,344,826

CAPITAL AND RESERVES

Called up share capital

1,540

1,540

Retained earnings

2,679,083

2,343,286

SHAREHOLDERS' FUNDS

2,680,623

2,344,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 15 February 2018 and were signed on its behalf by:

Mr D Bell - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. Where a contract has only been partially

completed at the balance sheet date turnover represents the value of the service provided to date based on a

proportion of the total expected consideration at completion. Where payments are received from customers in

advance of services provided, the amounts are recorded as deferred income and included as part of creditors due

within one year.

Tangible fixed assets

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

Freehold property

-

2.5% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme

are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 214 (2016 - 192 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

3,594,428

Additions

30,989

At 31 May 2017

3,625,417

DEPRECIATION

At 1 June 2016

1,453,656

Charge for year

69,896

At 31 May 2017

1,523,552

NET BOOK VALUE

At 31 May 2017

2,101,865

At 31 May 2016

2,140,772

Included in cost of land and buildings is freehold land of £ 550,849 (2016 - £ 550,849 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 June 2016

and 31 May 2017

1

NET BOOK VALUE

At 31 May 2017

1

At 31 May 2016

1

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

2,170,961

2,229,882

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2017 and

31 May 2016:

2017

2016

£

£

Mr D Bell

Balance outstanding at start of year

-

-

Amounts advanced

288,292

275,325

Amounts repaid

(150,000

)

(275,325

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

138,292

-

Mrs L Symms

Balance outstanding at start of year

-

-

Amounts advanced

677

33,299

Amounts repaid

(677

)

(33,299

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr K Bell and Mrs B C Bell

Balance outstanding at start of year

355,784

673,354

Amounts advanced

958,972

745,195

Amounts repaid

(1,162,358

)

(1,062,765

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

152,398

355,784

The advances to the directors are repayable on demand and unsecured. Interest is charged at the HMRC rate

applicable to beneficial loan arrangements.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £500,000 (2016 - £625,000) were paid to the directors .