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2023-05-31
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No description of principal activities is disclosed
2022-06-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
NI056176
2022-06-01
2023-05-31
NI056176
2023-05-31
NI056176
2021-06-01
2022-05-31
NI056176
2022-05-31
NI056176
2021-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
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NI056176
bus:Director2
2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
bus:Director4
2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2023-05-31
NI056176
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2023-05-31
NI056176
core:WithinOneYear
2023-05-31
NI056176
core:AfterOneYear
2023-05-31
NI056176
core:RetainedEarningsAccumulatedLosses
2021-06-01
2022-05-31
NI056176
core:ShareCapital
2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2023-05-31
NI056176
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2022-05-31
NI056176
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2023-05-31
NI056176
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2021-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
2023-05-31
NI056176
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2022-06-01
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NI056176
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2022-06-01
2023-05-31
Company registration number:
NI056176
Ristretto Limited
Unaudited filleted financial statements
31 May 2023
Ristretto Limited
Contents
Directors and other information
Directors report
Accountants report
Balance sheet
Statement of changes in equity
Notes to the financial statements
Ristretto Limited
Directors and other information
|
|
|
|
Directors |
Gregg Radcliffe |
|
|
Mark Anderson |
|
|
Wendy Radcliffe |
|
|
Susan Anderson |
|
|
|
|
|
|
|
Secretary |
Mark Anderson |
|
|
|
|
|
|
|
Company number |
NI056176 |
|
|
|
|
|
|
|
Registered office |
Unit 49 |
|
|
Banbridge Enterprise centre |
|
|
Scarva Road Industrial Estate |
|
|
Banbridge |
|
|
BT32 3QD |
|
|
|
|
|
|
|
Accountants |
Jones Peters |
|
|
Hughes House |
|
|
6 Church Street |
|
|
Banbridge |
|
|
CO.Down |
|
|
BT32 4AA |
|
|
|
Ristretto Limited
Directors report
Year ended 31 May 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2023.
Directors
The directors who served the company during the year were as follows:
|
Gregg Radcliffe |
Mark Anderson |
Wendy Radcliffe |
Susan Anderson |
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
14 December 2023
and signed on behalf of the board by:
Gregg Radcliffe
Director
Ristretto Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Ristretto Limited
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ristretto Limited for the year ended 31 May 2023 which comprise the Balance sheet, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Ristretto Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ristretto Limited and state those matters that we have agreed to state to the board of directors of Ristretto Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ristretto Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Ristretto Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ristretto Limited. You consider that Ristretto Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Ristretto Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jones Peters
Hughes House
6 Church Street
Banbridge
CO.Down
BT32 4AA
19 December 2023
Ristretto Limited
Balance sheet
31 May 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
795,276 |
|
|
|
- |
|
|
Tangible assets |
|
6 |
20,576 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
815,852 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
269,868 |
|
|
|
- |
|
|
Debtors |
|
7 |
183,262 |
|
|
|
2 |
|
|
Cash at bank and in hand |
|
|
166,432 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
619,562 |
|
|
|
2 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
950,403) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current (liabilities)/assets |
|
|
|
|
(
330,841) |
|
|
|
2 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
485,011 |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
192,302) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
292,709 |
|
|
|
2 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
4 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
292,705 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
292,709 |
|
|
|
2 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 December 2023
, and are signed on behalf of the board by:
Gregg Radcliffe
Director
Company registration number:
NI056176
Ristretto Limited
Statement of changes in equity
Year ended 31 May 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 June 2021 |
|
2 |
|
- |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
- |
- |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2022 and 1 June 2022 |
|
2 |
|
- |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
296,705 |
296,705 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
296,705 |
296,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
2 |
|
|
2 |
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
4,000) |
(
4,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
2 |
|
(
4,000) |
(
3,998) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
|
4 |
|
292,705 |
292,709 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ristretto Limited
Notes to the financial statements
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 49, Banbridge Enterprise centre, Scarva Road Industrial Estate, Banbridge, BT32 3QD.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2022: Nil).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 June 2022 |
- |
- |
|
|
|
|
|
Additions |
994,095 |
994,095 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
994,095 |
994,095 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 June 2022 |
- |
- |
|
|
|
|
|
Charge for the year |
198,819 |
198,819 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
198,819 |
198,819 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2023 |
795,276 |
795,276 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 June 2022 |
- |
- |
|
|
|
|
|
|
Additions |
21,312 |
21,312 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 May 2023 |
21,312 |
21,312 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2022 |
- |
- |
|
|
|
|
|
|
Charge for the year |
736 |
736 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 May 2023 |
736 |
736 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2023 |
20,576 |
20,576 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 May 2022 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
158,623 |
- |
|
Other debtors |
|
24,639 |
2 |
|
|
|
_______ |
_______ |
|
|
|
183,262 |
2 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,648 |
- |
|
Trade creditors |
|
53,898 |
- |
|
Corporation tax |
|
118,329 |
- |
|
Social security and other taxes |
|
16,705 |
- |
|
Other creditors |
|
750,823 |
- |
|
|
|
_______ |
_______ |
|
|
|
950,403 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
20,782 |
- |
|
Other creditors |
|
171,520 |
- |
|
|
|
_______ |
_______ |
|
|
|
192,302 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|