Company registration number 07732722 (England and Wales)
D & W RICCINI LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2024
Pages For Filing With Registrar
D & W Riccini Limited
D & W RICCINI LIMITED
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
D & W Riccini Limited
D & W RICCINI LIMITED
Balance Sheet
As At 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
130,233
143,963
Current assets
Stocks
17,000
2,000
Debtors
4
302,759
271,013
Investments
5
1,038,582
968,563
Cash at bank and in hand
3,266
1,140
1,361,607
1,242,716
Creditors: amounts falling due within one year
6
(145,791)
(144,911)
Net current assets
1,215,816
1,097,805
Total assets less current liabilities
1,346,049
1,241,768
Provisions for liabilities
(26,577)
(28,815)
Net assets
1,319,472
1,212,953
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,319,372
1,212,853
Total equity
1,319,472
1,212,953
D & W Riccini Limited
D & W RICCINI LIMITED
Balance Sheet (Continued)
As At 31 May 2024
- 2 -
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
Mr A Riccini
Director
Company registration number 07732722 (England and Wales)
D & W Riccini Limited
D & W RICCINI LIMITED
Notes To The Financial Statements
For The Year Ended 31 May 2024
- 3 -
1
Accounting policies
Company information
D & W Riccini Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD. The principal place of business is 1 Yew Tree Cottages, Bekesbourne Hill, Bekesbourne, Canterbury, Kent, England, CT4 5EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
Orchards
10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
D & W Riccini Limited
D & W RICCINI LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
14
30
D & W Riccini Limited
D & W RICCINI LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Orchards
Total
£
£
£
Cost
At 1 June 2023
115,017
101,910
216,927
Additions
14,850
14,850
At 31 May 2024
129,867
101,910
231,777
Depreciation and impairment
At 1 June 2023
31,604
41,360
72,964
Depreciation charged in the year
18,389
10,191
28,580
At 31 May 2024
49,993
51,551
101,544
Carrying amount
At 31 May 2024
79,874
50,359
130,233
At 31 May 2023
83,413
60,550
143,963
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
295,348
268,007
Prepayments and accrued income
7,411
3,006
302,759
271,013
5
Current asset investments
2024
2023
£
£
Interest in W & D Riccini
1,038,582
968,563
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,429
Corporation tax
42,096
29,520
Other taxation and social security
3,401
4,061
Other creditors
90,053
88,053
Accruals and deferred income
10,241
20,848
145,791
144,911
D & W Riccini Limited
D & W RICCINI LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2024
- 6 -
7
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
26,577
28,815
2024
Movements in the year:
£
Liability at 1 June 2023
28,815
Credit to profit or loss
(2,238)
Liability at 31 May 2024
26,577