REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
RYDAL COMMUNICATIONS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
RYDAL COMMUNICATIONS LTD |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
RYDAL COMMUNICATIONS LTD |
COMPANY INFORMATION |
For The Year Ended 30 November 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Office Village |
Forder Way |
Cygnet Park, Hampton |
Peterborough |
Cambridgeshire |
PE7 8GX |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
STATEMENT OF FINANCIAL POSITION |
30 November 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
STATEMENT OF FINANCIAL POSITION - continued |
30 November 2022 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2022 |
1. | STATUTORY INFORMATION |
Rydal Communications Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Rydal Communications Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2022 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset. |
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. |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs |
in bringing stocks to their present location and condition. |
Financial instruments |
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. |
Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition. |
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. |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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. |
Pension costs and other post-retirement benefits |
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 £29,416 (2021 - £22,140). Contributions totalling £6,514 (2021 - £4,956) were payable to the fund at the balance sheet date and are included in creditors. |
Debtors |
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term trade creditors are initially measured at transaction price less attributable costs. 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 |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2022 |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Customer | Computer |
Goodwill | licences | Contracts | software | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 December 2021 |
Additions |
At 30 November 2022 |
AMORTISATION |
At 1 December 2021 |
Amortisation for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 December 2021 |
Additions |
Disposals |
At 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
Eliminated on disposal |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2022 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
6. | FIXED ASSET INVESTMENTS |
Interest |
Shares in | in other |
group | participating |
undertakings | interests | Totals |
£ | £ | £ |
COST |
At 1 December 2021 | 2,000 | 2,101 |
Additions | - | 539,124 |
At 30 November 2022 | 2,000 | 541,225 |
NET BOOK VALUE |
At 30 November 2022 | 2,000 | 541,225 |
At 30 November 2021 | 2,000 | 2,101 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts owed by group undertakings are unsecured, interest free and repayable on demand |
RYDAL COMMUNICATIONS LTD (REGISTERED NUMBER: 06738960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings are unsecured, interest free and repayable on demand |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts |
Other creditors |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Hire purchase contracts | 66,753 | 43,829 |
The hire purchase contracts are secured against the assets to which they relate. |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
As at year end, the balance outstanding from the director was £7,047 (2021: £3,563 owed by the director) .The above loan is unsecured, interest free and repayable upon demand. |