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RIO WORKWEAR SOLUTIONS LIMITED

Registered Number
06966958
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

RIO WORKWEAR SOLUTIONS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

PEARSON, Maria Faith

Registered Address

Whiteleaf Business Centre 11 Little Balmer
Buckingham Industrial Estate
Buckingham
MK18 1TF

Registered Number

06966958 (England and Wales)
RIO WORKWEAR SOLUTIONS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets512,7843,270
12,7843,270
Current assets
Stocks62,0004,000
Debtors729,56212,201
Cash at bank and on hand19,84018,619
51,40234,820
Creditors amounts falling due within one year8(61,545)(34,030)
Net current assets (liabilities)(10,143)790
Total assets less current liabilities2,6414,060
Creditors amounts falling due after one year9(14,998)(20,891)
Net assets(12,357)(16,831)
Capital and reserves
Called up share capital22
Profit and loss account(12,359)(16,833)
Shareholders' funds(12,357)(16,831)
The financial statements were approved and authorised for issue by the Director on 5 October 2023, and are signed on its behalf by:
PEARSON, Maria Faith
Director
Registered Company No. 06966958
RIO WORKWEAR SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year21
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 August 221,5004,4295,929
Additions11,7951,00812,803
At 31 July 2313,2955,43718,732
Depreciation and impairment
At 01 August 223432,3162,659
Charge for year2,0901,1993,289
At 31 July 232,4333,5155,948
Net book value
At 31 July 2310,8621,92212,784
At 31 July 221,1572,1133,270
6.Stocks

2023

2022

££
Raw materials and consumables2,0004,000
Total2,0004,000
7.Debtors

2023

2022

££
Trade debtors / trade receivables29,48212,201
Other debtors80-
Total29,56212,201
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables33,07227,127
Bank borrowings and overdrafts5,2783,167
Taxation and social security3,9332,139
Finance lease and HP contracts264757
Other creditors18,998840
Total61,54534,030
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts14,95420,583
Other creditors44308
Total14,99820,891
10.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts44308