REGISTERED NUMBER: |
RIGBY AND PELLER LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
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 |
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. |
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. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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 |
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 |
AMORTISATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
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 |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
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 |
Between one and five years |
In more than five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |