Company No: 02593329 (England and Wales)

Contents

• Balance Sheet
• Notes to the Unaudited Financial Statements

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	3	110,853		54,225
		110,853		54,225
Current assets
Stocks	4	237,125		180,593
Debtors	5	133,945		127,387
Cash at bank and in hand		73,250		41,522
		444,320		349,502
Creditors
Amounts falling due within one year	6	( 142,592)		( 147,705)
Net current assets		301,728		201,797
Total assets less current liabilities		412,581		256,022
Creditors
Amounts falling due after more than one year	7	( 136,413)		( 44,223)
Net assets		276,168		211,799
Capital and reserves
Called-up share capital		99		99
Share premium account		2		2
Profit and loss account		276,067		211,698
Total shareholder's funds		276,168		211,799

For the financial year ending 31 December 2020 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 in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Ranger Fixings Limited (registered number: 02593329) were approved and authorised for issue by the Director on 20 September 2021. They were signed on its behalf by:

Michael 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.

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.

The functional currency of Ranger Fixings Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 current tax rates and laws.

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 asset, as follows:

Plant and machinery - 20% reducing balance basis
Fixtures and fittings - 20% reducing balance basis
Motor vehicles - 25% reducing balance basis

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.

2. Employees

	2020		2019
	Number		Number
Monthly average number of persons employed by the Company during the year, including director	8		9

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2020	48,454		123,172		40,681		212,307
Additions	0		86,129		0		86,129
Disposals	0		( 50,284)		0		( 50,284)
At 31 December 2020	48,454		159,017		40,681		248,152
Accumulated depreciation
At 01 January 2020	47,444		71,173		39,465		158,082
Charge for the financial year	202		12,237		243		12,682
Disposals	0		( 33,465)		0		( 33,465)
At 31 December 2020	47,646		49,945		39,708		137,299
Net book value
At 31 December 2020	808		109,072		973		110,853
At 31 December 2019	1,010		51,999		1,216		54,225

4. Stocks

	2020		2019
	£		£
Stocks (secured)	237,125		180,593

5. Debtors

	2020		2019
	£		£
Trade debtors	131,124		124,390
Other debtors	2,821		2,997
	133,945		127,387

6. Creditors: amounts falling due within one year

	2020		2019
	£		£
Bank loans and overdrafts	3,261		0
Trade creditors	61,277		101,505
Other creditors	56,962		25,625
Corporation tax	7,838		4,369
Other taxation and social security	13,254		16,206
	142,592		147,705

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

	2020		2019
	£		£
Bank loans	46,739		0
Other creditors	89,674		44,223
	136,413		44,223

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:

	2020		2019
	£		£
Contracted for but not provided for:
	11,362		22,481