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RIGRUN LIMITED

Registered Number
SC457563
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

RIGRUN LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

MARTIN, Louise Grace

Registered Address

75 Stanley Street
Aberdeen
AB10 6UT

Registered Number

SC457563 (Scotland)
RIGRUN LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets312,63416,845
Investments46,288-
18,92216,845
Current assets
Stocks514,621-
Debtors537,627264,895
Cash at bank and on hand119,072106,848
671,320371,743
Creditors amounts falling due within one year6(488,518)(130,729)
Net current assets (liabilities)182,802241,014
Total assets less current liabilities201,724257,859
Creditors amounts falling due after one year7(77,474)(141,508)
Provisions for liabilities8(2,400)(3,200)
Net assets121,850113,151
Capital and reserves
Called up share capital11
Profit and loss account121,849113,150
Shareholders' funds121,850113,151
The financial statements were approved and authorised for issue by the Director on 12 September 2024, and are signed on its behalf by:
MARTIN, Louise Grace
Director
Registered Company No. SC457563
RIGRUN LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year43
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2331,50131,501
At 31 December 2331,50131,501
Depreciation and impairment
At 01 January 2314,65614,656
Charge for year4,2114,211
At 31 December 2318,86718,867
Net book value
At 31 December 2312,63412,634
At 31 December 2216,84516,845
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
Additions6,2886,288
At 31 December 236,2886,288
Net book value
At 31 December 236,2886,288
At 31 December 22--

Notes

1Other investments other than loans
5.Stocks

2023

2022

££
Other stocks14,621-
Total14,621-
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,258-
Bank borrowings and overdrafts24,6207,800
Taxation and social security48,84347,414
Accrued liabilities and deferred income407,79775,515
Total488,518130,729
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts77,474141,508
Total77,474141,508
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,4003,200
Total2,4003,200