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REGISTERED NUMBER: 01852357 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RIBBEX (UK) LIMITED

RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)






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 4


RIBBEX (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C R Coulson
A R J Coulson





REGISTERED OFFICE: 34 Burrowfield
Welwyn Garden City
Hertfordshire
AL7 4SR





REGISTERED NUMBER: 01852357 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 979,254 928,473

CURRENT ASSETS
Inventories 10,000 12,550
Debtors 5 796,074 697,432
Cash at bank 539,016 400,250
1,345,090 1,110,232
CREDITORS
Amounts falling due within one year 6 704,833 595,367
NET CURRENT ASSETS 640,257 514,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,619,511

1,443,338

CREDITORS
Amounts falling due after more than one
year

7

(168,615

)

(190,831

)

PROVISIONS FOR LIABILITIES (241,928 ) (228,599 )
NET ASSETS 1,208,968 1,023,908

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,208,768 1,023,708
1,208,968 1,023,908

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.

RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 19 June 2024 and were signed on its behalf by:





A R J Coulson - Director


RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Ribbex (UK) Limited is a company limited by shares, incorporated in England and Wales. Its registered office is 34 Burrowfield, Welwyn Garden City, Hertfordshire, AL7 4SR.

The presentation currency is £ 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

All fixed assets are initially recorded at cost.

The assets are carried at cost less accumulated depreciation and impairment.

Assets are removed from the statement of financial position on disposal or when it is withdrawn from use and no future economic benefits are expected from its disposal.

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

When the inventory's market value drops below its book value on the statement of financial posistion an impairment correction is undertaken.

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.


RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 2,155,398 - - 2,155,398
Additions - 792 213,694 214,486
Reclassification/transfer (1,509,034 ) 170,081 1,598,291 259,338
At 31 December 2023 646,364 170,873 1,811,985 2,629,222
DEPRECIATION
At 1 January 2023 1,226,925 - - 1,226,925
Charge for year 21,130 4,448 138,127 163,705
Reclassification/transfer (791,857 ) 125,729 925,466 259,338
At 31 December 2023 456,198 130,177 1,063,593 1,649,968
NET BOOK VALUE
At 31 December 2023 190,166 40,696 748,392 979,254
At 31 December 2022 928,473 - - 928,473

RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 707,837 663,350
Amounts owed by group undertakings 28,527 -
Other debtors 59,710 34,082
796,074 697,432

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 94,181 116,658
Trade creditors 358,660 302,450
Taxation and social security 150,644 98,928
Other creditors 101,348 77,331
704,833 595,367

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 168,615 190,831

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 94,181 116,658
Between one and five years 168,615 190,831
262,796 307,489

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases


RIBBEX (UK) LIMITED (REGISTERED NUMBER: 01852357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ribbex (UK) Holdings Limited.

Ribbex (UK) Holdings Limited is a private limited company registered in England and Wales. It's registered office and principal place of business is 34 Burrowfield, Welwyn Garden City, United Kingdom, AL7 4SR.