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Registration number: 06180674

Rigger.co.uk Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Rigger.co.uk Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Rigger.co.uk Limited

Company Information

Directors

Mr S B Fitch

Mr F Clenahan

Company secretary

Mrs J Stevens

Registered office

Mayfield
Blind Lane
Barton St David
Somerton
Somerset
TA11 6BW

Accountants

Landmark Accountants Limited
Chartered Accountants
Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Rigger.co.uk Limited

(Registration number: 06180674)
Balance Sheet as at 30 June 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

5

 

1,497,438

 

1,254,647

Current assets

   

 

Debtors

6

308,251

 

150,416

 

Cash at bank and in hand

 

9,214

 

295,261

 

 

317,465

 

445,677

 

Creditors: Amounts falling due within one year

7

(537,207)

 

(338,954)

 

Net current (liabilities)/assets

   

(219,742)

 

106,723

Total assets less current liabilities

   

1,277,696

 

1,361,370

Creditors: Amounts falling due after more than one year

7

 

(600,000)

 

(600,000)

Provisions for liabilities

 

(344,177)

 

(222,707)

Net assets

   

333,519

 

538,663

Capital and reserves

   

 

Called up share capital

1

 

1

 

Share premium reserve

48,740

 

48,740

 

Profit and loss account

284,778

 

489,922

 

Total equity

   

333,519

 

538,663

 

Rigger.co.uk Limited

(Registration number: 06180674)
Balance Sheet as at 30 June 2023

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................
Mr S B Fitch
Director

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mayfield
Blind Lane
Barton St David
Somerton
Somerset
TA11 6BW
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these accounts is £ Sterling and the level of rounding is to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5% straight line

Office equipment

33.33% straight line

Motor vehicles

25% straight line

Leasehold improvements

Over remaining lease term

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 7).

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

31,000

31,000

At 30 June 2023

31,000

31,000

Amortisation

At 1 July 2022

31,000

31,000

At 30 June 2023

31,000

31,000

Carrying amount

At 30 June 2023

-

-

At 30 June 2022

-

-

5

Tangible assets

Leasehold improvements
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

16,286

1,852,191

44,329

114,442

2,027,248

Additions

6,756

363,259

6,552

16,835

393,402

Disposals

-

(7,625)

(22,418)

(16,835)

(46,878)

At 30 June 2023

23,042

2,207,825

28,463

114,442

2,373,772

Depreciation

At 1 July 2022

766

648,480

34,634

88,721

772,601

Charge for the year

8,919

96,631

5,646

14,367

125,563

Eliminated on disposal

-

-

(21,480)

(350)

(21,830)

At 30 June 2023

9,685

745,111

18,800

102,738

876,334

Carrying amount

At 30 June 2023

13,357

1,462,714

9,663

11,704

1,497,438

At 30 June 2022

15,520

1,203,711

9,695

25,721

1,254,647

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

6

Debtors

2023
£

2022
£

Trade debtors

253,909

89,057

Prepayments

34,442

36,271

Other debtors

19,900

25,088

 

308,251

150,416

7

Creditors

2023
£

2022
£

Due within one year

Trade payables

20,403

15,325

Amounts owed to group undertakings

191,977

153,712

Taxation and social security

78,165

101,458

Other creditors

246,662

68,459

537,207

338,954

Due after one year

Amounts owed to group undertakings

600,000

600,000

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £123,200 (2022 - £193,600).

 

Rigger.co.uk Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

9

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Advances to directors
£

Repayments by directors
£

At 30 June 2023
£

Loans to directors (Interest charged at 2% and repayable on demand)

5,887

54,287

(60,174)

-

         
       

 

2022

At 1 July 2021
£

Advances to directors
£

Repayments by directors
£

At 30 June 2022
£

Loans to directors (Interest charged at 2% and repayable on demand)

-

113,500

(107,613)

5,887

         
       

 

10

Parent company

The company's parent is Fripper Limited.