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REGISTERED NUMBER: 06414102 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

Ronchi UK Limited

Ronchi UK Limited (Registered number: 06414102)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ronchi UK Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: G Ronchi





REGISTERED OFFICE: St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE





REGISTERED NUMBER: 06414102 (England and Wales)





AUDITORS: Bennett Brooks & Co Limited
Chartered Accountants
& Statutory Auditors
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Ronchi UK Limited (Registered number: 06414102)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 - 40

CURRENT ASSETS
Stocks 26,852 26,454
Debtors 5 311,629 208,832
Cash at bank and in hand 854,282 608,966
1,192,763 844,252
CREDITORS
Amounts falling due within one year 6 (383,011 ) (123,918 )
NET CURRENT ASSETS 809,752 720,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

809,752

720,374

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 809,652 720,274
SHAREHOLDERS' FUNDS 809,752 720,374

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:





G Ronchi - Director


Ronchi UK Limited (Registered number: 06414102)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Ronchi UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company meets its day to day financing arrangements through its cash resources and management of its intercompany creditor positions with related entities. A letter of support from the ultimate controlling party has been received confirming the commitment to provide financial support for at least 12 months from the date of signing. The directors have prepared forecasts and cashflows that show that the company is able to operate within its cash resources for a period of at least 12 months, and given the written support provided by the ultimate controlling party, consider the going concern basis of preparation to be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the risks and rewards of ownership have passed to the customer, generally on despatch.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for it's intended use.

Depreciation on all assets is calculated to allocate the depreciable amount to their residual value of a systematic basis over their estimated useful life as follows:

Fixtures and fittings - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
i. Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of future cash receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. Any impairment loss would be recognised in the profit and loss.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled, or substantially the risks and rewards of the ownership of the asset are transferred to another party.

ii. Financial liabilities
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Ronchi UK Limited (Registered number: 06414102)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and cash held with banks.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Ronchi UK Limited (Registered number: 06414102)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2023 6,121
Disposals (510 )
At 31 December 2023 5,611
DEPRECIATION
At 1 January 2023 6,081
Charge for year 41
Eliminated on disposal (511 )
At 31 December 2023 5,611
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 40

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 298,371 190,785
Prepayments 13,258 18,047
311,629 208,832

Amounts due from group undertakings are unsecured, interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 10,037 8,850
Tax 25,599 22,067
Social security & other taxes 3,389 -
VAT 47,212 29,732
Other creditors 792 -
Due to group undertakings 246,160 15,568
Accruals and deferred income 49,822 47,701
383,011 123,918

Amounts due to group undertakings are unsecured, interest free and repayable on demand.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 14,247 16,497
Between one and five years 13,060 27,307
27,307 43,804

Ronchi UK Limited (Registered number: 06414102)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jason Leach FCA (Senior Statutory Auditor)
for and on behalf of Bennett Brooks & Co Limited

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Ronchi Mario S.p.A., incorporated in Italy.

The ultimate parent is Ronchi Holding S.p.A., incorporated in Italy.

These financial statements are available upon request from 43 - 20060 Gessate - MI - Italy.

C Ronchi and G Ronchi jointly control Ronchi Holdings S.p.A.