Ryno Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09623250 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2017

for

Ryno Ltd

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

589,950

-

Tangible assets

5

71,106

19,632

661,056

19,632

CURRENT ASSETS

Stocks

415,893

110,122

Debtors

6

1,378,276

136,163

Cash at bank

576,618

89,048

2,370,787

335,333

CREDITORS

Amounts falling due within one year

7

(645,612

)

(197,928

)

NET CURRENT ASSETS

1,725,175

137,405

TOTAL ASSETS LESS CURRENT LIABILITIES

2,386,231

157,037

CREDITORS

Amounts falling due after more than one year

8

(1,500,000

)

-

NET ASSETS

886,231

157,037

CAPITAL AND RESERVES

Called up share capital

50,007

50,007

Retained earnings

836,224

107,030

SHAREHOLDERS' FUNDS

886,231

157,037

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.

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 30 April 2018 and were signed on its behalf by:

T J White - Director

1.	STATUTORY INFORMATION

Ryno Ltd is a private company, limited by shares, registered in England and Wales, registration number 09623250.

The registered office is Europa House, Alfold Road, Cranleigh, Surrey, United Kingdom, GU6 8NQ.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods and services in respect of design, manufacture and supply of roof

finishing products and external surface support systems, excluding value added tax. Sales are recognised at the point

at which the goods are delivered or the service is complete.

Goodwill

The positive goodwill acquired in 2017 is being amortised over its useful life of 7.5 years. Negative goodwill is

written off in the year of acquisition.

Tangible fixed assets and depreciation

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

Plant and machinery etc

-

33% on reducing balance and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental

costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all

tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items. Cost is represented by purchase price.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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.

Pension costs and other post-retirement benefits

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

scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is

probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably

estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value

of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an

outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2016 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

655,500

At 31 December 2017

655,500

AMORTISATION

Charge for year

65,550

At 31 December 2017

65,550

NET BOOK VALUE

At 31 December 2017

589,950

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

22,153

Additions

81,153

Disposals

(13,933

)

At 31 December 2017

89,373

DEPRECIATION

At 1 January 2017

2,521

Charge for year

17,901

Eliminated on disposal

(2,155

)

At 31 December 2017

18,267

NET BOOK VALUE

At 31 December 2017

71,106

At 31 December 2016

19,632

6.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Trade debtors

711,933

114,031

Other debtors

51,534

22,132

763,467

136,163

Amounts falling due after more than one year:

Amounts owed by group undertakings

614,809

-

Aggregate amounts

1,378,276

136,163

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

30,017

15,034

Taxation and social security

301,612

47,434

Other creditors

313,983

135,460

645,612

197,928

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Amounts owed to group undertakings

1,500,000

-

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Bilsland (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

10.	ULTIMATE PARENT ENTITY

The ultimate parent entity is Whitesales Group Limited.