Company No: 02593329 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	141,010		110,853
		141,010		110,853
Current assets
Stocks	4	214,368		237,125
Debtors	5	146,330		133,945
Cash at bank and in hand		12,135		73,250
		372,833		444,320
Creditors
Amounts falling due within one year	6	( 191,871)		( 142,592)
Net current assets		180,962		301,728
Total assets less current liabilities		321,972		412,581
Creditors
Amounts falling due after more than one year	7	( 116,589)		( 136,413)
Net assets		205,383		276,168
Capital and reserves
Called-up share capital		99		99
Share premium account		2		2
Profit and loss account		205,282		276,067
Total shareholder's funds		205,383		276,168

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Ranger Fixings Limited (registered number: 02593329) were approved and authorised for issue by the Director on 15 September 2022. They were signed on its behalf by:

Michael James Lock Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ranger Fixings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8, Central Business Park, Southcote Road, BH1 3SJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asse

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	8		8

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2021	48,454		159,017		40,681		248,152
Additions	0		111,894		0		111,894
Disposals	0		( 91,192)		0		( 91,192)
At 31 December 2021	48,454		179,719		40,681		268,854
Accumulated depreciation
At 01 January 2021	47,646		49,945		39,708		137,299
Charge for the financial year	162		31,376		195		31,733
Disposals	0		( 41,188)		0		( 41,188)
At 31 December 2021	47,808		40,133		39,903		127,844
Net book value
At 31 December 2021	646		139,586		778		141,010
At 31 December 2020	808		109,072		973		110,853

4. Stocks

	2021		2020
	£		£
Stocks (secured)	214,368		237,125

5. Debtors

	2021		2020
	£		£
Trade debtors	133,730		131,124
Corporation tax	8,284		0
Other debtors	4,316		2,821
	146,330		133,945

6. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans	9,901		3,261
Trade creditors	120,469		61,277
Other creditors	33,545		39,441
Corporation tax	0		7,838
Other taxation and social security	6,558		13,254
Obligations under finance leases and hire purchase contracts	21,398		17,521
	191,871		142,592

7. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	36,838		46,739
Obligations under finance leases and hire purchase contracts	79,751		89,674
	116,589		136,413

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Capital commitments are as follows:

	2021		2020
	£		£
Contracted for but not provided for:
	874		11,362