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REGISTERED NUMBER: 02640674 (England and Wales)









Financial Statements

for the Year Ended 31 December 2024

for

Riga Wood Limited

Riga Wood Limited (Registered number: 02640674)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Riga Wood Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: S Butler





SECRETARY: S Butler





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 02640674 (England and Wales)





AUDITORS: Parker Cavendish
Chartered Accountants
Registered Auditor
28 Church Road
Stanmore
Middlesex
HA7 4XR

Riga Wood Limited (Registered number: 02640674)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,189 11,891

CURRENT ASSETS
Inventories 5 64,461 64,461
Debtors 6 114,675 166,117
Cash at bank and in hand 529,287 451,356
708,423 681,934
CREDITORS
Amounts falling due within one year 7 (63,077 ) (82,811 )
NET CURRENT ASSETS 645,346 599,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

647,535

611,014

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 637,535 601,014
SHAREHOLDERS' FUNDS 647,535 611,014

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 director and authorised for issue on 11 February 2025 and were signed by:





S Butler - Director


Riga Wood Limited (Registered number: 02640674)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Riga Wood 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25%-33% straight line basis
Motor vehicles - 25% Straight line

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

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.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

Pension costs and other post-retirement benefits
The company's pension costs relate to individual pension plans. The pension charge represents contributions paid during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Riga Wood Limited (Registered number: 02640674)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 12,979 34,499 47,478
DEPRECIATION
At 1 January 2024 11,893 23,694 35,587
Charge for year 1,086 8,616 9,702
At 31 December 2024 12,979 32,310 45,289
NET BOOK VALUE
At 31 December 2024 - 2,189 2,189
At 31 December 2023 1,086 10,805 11,891

5. INVENTORIES
2024 2023
£    £   
Finished goods 64,461 64,461

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 101,650 153,521
Prepayments and accrued income 13,025 12,596
114,675 166,117

An amount totalling £51,135 (2023: £40,563) is owing from A/S Latvijas Finieris, the company's parent. This sum is included in trade debtors in the current and prior year.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,994 9,268
Tax 16,114 16,393
Social security and other taxes 8,716 9,290
VAT 14,825 36,186
Accruals and deferred income 10,428 11,674
63,077 82,811

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

The Report of the Auditors was unqualified.

Marco Gazza (Senior Statutory Auditor)
for and on behalf of Parker Cavendish

9. RELATED PARTY DISCLOSURES

During the year the company made purchases of goods and related services totalling £587,926 (2023: £1,133,903) from A/S Latvijas Finieris, the company's parent. The company also made sales totalling £554,376 (2023: £513,173), to the same company. The transactions were made on normal trading terms.

Riga Wood Limited (Registered number: 02640674)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is A/S Latvijas Finieris, a company incorporated in Latvia. The company is not under the control of any one individual.