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Registered number: 06756001
Rivoli Trading Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Compton Hardwick Ltd
20 Elin Way
Meldreth
Royston
Hertfordshire
SG86LX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06756001
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 233,188 3,057
233,188 3,057
CURRENT ASSETS
Stocks 5 117,000 103,000
Debtors 6 47,550 70,028
Cash at bank and in hand 280,826 434,369
445,376 607,397
Creditors: Amounts Falling Due Within One Year 7 (139,417 ) (108,854 )
NET CURRENT ASSETS (LIABILITIES) 305,959 498,543
TOTAL ASSETS LESS CURRENT LIABILITIES 539,147 501,600
PROVISIONS FOR LIABILITIES
Deferred Taxation (803 ) (581 )
NET ASSETS 538,344 501,019
CAPITAL AND RESERVES
Called up share capital 8 50 50
Capital redemption reserve 50 50
Profit and Loss Account 538,244 500,919
SHAREHOLDERS' FUNDS 538,344 501,019
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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
Mr G W Howard
Director
15/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rivoli Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06756001 . The registered office is Unit 6 Coxford Abbey Farm, Coxford, King's Lynn, Norfolk, PE31 6TB.
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.
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 goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
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 signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 Not depreciated
Plant & Machinery Over 4 years
Motor Vehicles Over 4 years
Fixtures & Fittings Over 4 years
Improvement to freehold property Not depreciated
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. 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.
...CONTINUED
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2.5. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 4 (2023: 4)
4 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 - 34,541 13,725 -
Additions 212,539 - - 3,596
As at 31 March 2024 212,539 34,541 13,725 3,596
Depreciation
As at 1 April 2023 - 31,484 13,725 -
Provided during the period - 1,529 - 899
As at 31 March 2024 - 33,013 13,725 899
Net Book Value
As at 31 March 2024 212,539 1,528 - 2,697
As at 1 April 2023 - 3,057 - -
Improvement to freehold property Total
£ £
Cost
As at 1 April 2023 - 48,266
Additions 16,424 232,559
As at 31 March 2024 16,424 280,825
Depreciation
As at 1 April 2023 - 45,209
Provided during the period - 2,428
As at 31 March 2024 - 47,637
Net Book Value
As at 31 March 2024 16,424 233,188
As at 1 April 2023 - 3,057
5. Stocks
2024 2023
£ £
Finished goods 117,000 103,000
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,777 14,319
Prepayments and accrued income 1,125 1,167
Director's loan account 22,773 46,667
39,675 62,153
Due after more than one year
Corporation tax recoverable assets 7,875 7,875
47,550 70,028
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 88,589 44,489
Corporation tax 34,899 33,317
Other taxes and social security 14,716 29,512
Other creditors 1,213 1,536
139,417 108,854
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
Page 5