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REGISTERED NUMBER: 02363947 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RBIG FINANCIAL SERVICES LTD

RBIG FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02363947)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RBIG FINANCIAL SERVICES LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S G Astles
G N Gregory
S M Hodgson
D H Skinner
R J Clark





SECRETARY: S G Astles





REGISTERED OFFICE: Rossington's Business Park
West Carr Road
Retford
Nottinghamshire
DN22 7SW





REGISTERED NUMBER: 02363947 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

RBIG FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02363947)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 12,616 88,888
Cash at bank 32,627 26,879
45,243 115,767
CREDITORS
Amounts falling due within one year 5 34,753 21,932
NET CURRENT ASSETS 10,490 93,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,490

93,835

CAPITAL AND RESERVES
Called up share capital 7 20,000 20,000
Retained earnings 8 (9,510 ) 73,835
SHAREHOLDERS' FUNDS 10,490 93,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





S G Astles - Director


RBIG FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02363947)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RBIG Financial Services Ltd 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
At the time of approving the financial statements, the directors have every expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

RBIG FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02363947)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities, which include debtors, creditors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets and liabilities classified as receivable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 7,182 82,940
Other debtors 5,434 5,948
12,616 88,888

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 33,251 21,702
Other creditors 1,502 230
34,753 21,932

6. SECURED DEBTS

Barclay's Bank plc holds a fixed and floating charge over all assets.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,000 Ordinary £1 20,000 20,000

8. RESERVES
Retained
earnings
£   

At 1 January 2023 73,835
Profit for the year 91,655
Dividends (175,000 )
At 31 December 2023 (9,510 )

RBIG FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02363947)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. CONTINGENT LIABILITIES

The company’s bank holds an unlimited cross guarantee and debenture dated 12th November 2009, between members of the RBIG group of companies.

At the year-end the company had a contingent liability under this cross guarantee amounting to £NIL (2022: £NIL).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PIB Group Limited, whose registered office is Rossington's Business Park, Carr Road, Retford, Nottinghamshire, DN22 7SW.