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REGISTERED NUMBER: 00707368 (England and Wales)















RIGBY AND PELLER LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

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


RIGBY AND PELLER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B Laureys
K Verlinde
Y Aerts





REGISTERED OFFICE: Ground Floor
22/22a Conduit Street
London
W1S 2XT





REGISTERED NUMBER: 00707368 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10 646
Tangible assets 5 482,442 530,319
482,452 530,965

CURRENT ASSETS
Stocks 1,279,943 1,387,786
Debtors 6 311,430 827,406
Cash at bank 1,363,691 335,483
2,955,064 2,550,675
CREDITORS
Amounts falling due within one year 7 892,874 678,839
NET CURRENT ASSETS 2,062,190 1,871,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,544,642

2,402,801

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 2,542,142 2,400,301
2,544,642 2,402,801

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 26 September 2024 and were signed on its behalf by:





K Verlinde - Director


RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

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


1. STATUTORY INFORMATION

Rigby and Peller 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.

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.

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.

At the balance sheet date of 31 December 2023, the company made a profit for the year after tax of £141,841 (2022: £71,687), and had net assets at that date of £2,544,642 (2022: £2,402,801).

The directors believe that, after making enquiries of their financers and shareholders namely, Van de Velde NV (a company listed on the Belgium stock exchange), they have a reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company has obtained a letter from its shareholders confirming that they will provide funding for the company for a period of at least 12 months from the date of signing these financial statements.

The company has cash reserves of £1,363,691 (2022: £335,483) as at the balance sheet date. In the directors opinion, the company has sufficient working capital to enable it to continue to trade and meet its liabilities as they fall due for the at least the next twelve months from the date of approval of the financial statements.

The company has continuing financial support from its directors and group undertaking. As a consequence, the directors believe that the company is well placed to manage its business risks successfully. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 20% on cost and 15% on cost

RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

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


2. ACCOUNTING POLICIES - continued

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Operating lease rentals
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals applicable to operating leases where substantially all of the benefits and risks if ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. Incentives to enter operating lease agreements are initially recorded as deferred income and released to the profit and loss account on a straight line basis over the lease term.

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 69 (2022 - 64 ) .

RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 430,534
AMORTISATION
At 1 January 2023 429,888
Charge for year 636
At 31 December 2023 430,524
NET BOOK VALUE
At 31 December 2023 10
At 31 December 2022 646

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,938,297 785,983 2,724,280
Additions - 94,310 94,310
At 31 December 2023 1,938,297 880,293 2,818,590
DEPRECIATION
At 1 January 2023 1,439,473 754,488 2,193,961
Charge for year 124,921 17,266 142,187
At 31 December 2023 1,564,394 771,754 2,336,148
NET BOOK VALUE
At 31 December 2023 373,903 108,539 482,442
At 31 December 2022 498,824 31,495 530,319

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,578 37,980
Other debtors 295,852 789,426
311,430 827,406

RIGBY AND PELLER LIMITED (REGISTERED NUMBER: 00707368)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 143,788 190,272
Amounts owed to group undertakings 283,965 108,177
Taxation and social security 183,936 85,526
Other creditors 281,185 294,864
892,874 678,839

Amounts owed to group undertakings of £283,965 (2022:£108,177) represent amounts due by Rigby and Peller Limited to hierarchal companies within the Van De Velde NV group.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 634,000 846,141
Between one and five years 1,770,250 1,729,344
In more than five years 35,000 95,000
2,439,250 2,670,485

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

The Report of the Auditors was unqualified.

Andrew Cribb FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. ULTIMATE CONTROLLING PARTY

The Company's immediate parent undertaking is Van De Velde NV, a company registered in Belgium by virtue of their direct and indirect holding of 100% of the Company's ordinary share capital. Consolidated group accounts of Van De Velde NV an be obtained from Lageweg 4, 9260 Schellebelle, Belgium.


The directors consider there is no one person in control of the Company.