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Registered number: 03024005
Rivetnut Technology Systems Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03024005
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,021 74,768
72,021 74,768
CURRENT ASSETS
Stocks 5 251,317 217,422
Debtors 6 169,601 117,811
Cash at bank and in hand 309,765 332,276
730,683 667,509
Creditors: Amounts Falling Due Within One Year 7 (121,738 ) (93,111 )
NET CURRENT ASSETS (LIABILITIES) 608,945 574,398
TOTAL ASSETS LESS CURRENT LIABILITIES 680,966 649,166
NET ASSETS 680,966 649,166
CAPITAL AND RESERVES
Called up share capital 9 300 300
Profit and Loss Account 680,666 648,866
SHAREHOLDERS' FUNDS 680,966 649,166
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P G Gallot
Director
23 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Rivetnut Technology Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03024005 . The registered office is Unit 5 Bridgegate Business Park, Gatehouse Way, Aylesbury, Buckinghamshire, HP19 8XN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of industrial fixings, tools and other supplies. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has received delivery of the goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 33% on cost
Motor Vehicles 33% on reducing balance
Office Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Office Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 126,180 2,593 19,859 17,555 166,187
Additions - - - 1,725 1,725
As at 31 December 2023 126,180 2,593 19,859 19,280 167,912
Depreciation
As at 1 January 2023 56,681 2,593 15,364 16,781 91,419
Provided during the period 2,512 - 1,483 477 4,472
As at 31 December 2023 59,193 2,593 16,847 17,258 95,891
Net Book Value
As at 31 December 2023 66,987 - 3,012 2,022 72,021
As at 1 January 2023 69,499 - 4,495 774 74,768
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5. Stocks
2023 2022
£ £
Stock 251,317 217,422
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 158,840 110,694
Other debtors 10,761 7,117
169,601 117,811
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 78,183 58,965
Corporation tax 12,861 9,949
Other taxes and social security 4,237 3,509
VAT 14,636 11,143
Net wages 445 85
Other creditors 751 607
Accruals and deferred income 10,625 8,853
121,738 93,111
8. Secured Creditors
The Bank of Scotland has provided HM Revenue and Customs with a bank guarantee of £20,000 in respect of import duty deferment account liabilities. 
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
300 Ordinary Shares of £ 1.00 each 300 300
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 5,364 -
Later than one year and not later than five years 5,812 -
11,176 -
11. Controlling Parties
The company's immediate parent undertaking is . Societe Industrielle de Mecanique et d'Automation du Faucigny SAS (incorporated in France) which prepares publically available group consolidated accounts.
The ultimate parent undertaking is PAG Holding SAS (incorporated in France). 
The  registered office for both the immediate and parent companies is 61 avenue de l'Europe, 78140 Velizy-Villacoublay, France.
12. Audit Information
The auditors report on the account of Rivetnut Technology Systems Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Jonathan Hankinson (Senior Statutory Auditor) for and on behalf of David Lindon & Co , Statutory Auditor
David Lindon & Co
Avaland House
110 London Road
Hemel Hempstead
Hertfordshire
HP3 9SD
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