2 2 Rigby Group Ltd 10610424 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is rental of its own property Digita Accounts Production Advanced 6.30.9574.0 true true 10610424 2023-03-01 2024-02-29 10610424 2024-02-29 10610424 bus:OrdinaryShareClass1 2024-02-29 10610424 bus:OrdinaryShareClass2 2024-02-29 10610424 bus:OrdinaryShareClass3 2024-02-29 10610424 core:RetainedEarningsAccumulatedLosses 2024-02-29 10610424 core:ShareCapital 2024-02-29 10610424 core:SharePremium 2024-02-29 10610424 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-02-29 10610424 core:CurrentFinancialInstruments 2024-02-29 10610424 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10610424 core:Non-currentFinancialInstruments 2024-02-29 10610424 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10610424 core:FurnitureFittingsToolsEquipment 2024-02-29 10610424 core:MotorVehicles 2024-02-29 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-02-29 10610424 bus:SmallEntities 2023-03-01 2024-02-29 10610424 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10610424 bus:FilletedAccounts 2023-03-01 2024-02-29 10610424 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10610424 bus:RegisteredOffice 2023-03-01 2024-02-29 10610424 bus:Director2 2023-03-01 2024-02-29 10610424 bus:Director3 2023-03-01 2024-02-29 10610424 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10610424 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 10610424 bus:OrdinaryShareClass3 2023-03-01 2024-02-29 10610424 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10610424 bus:Agent1 2023-03-01 2024-02-29 10610424 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 10610424 core:ShareCapital 2023-03-01 2024-02-29 10610424 core:SharePremium 2023-03-01 2024-02-29 10610424 core:ComputerSoftware 2023-03-01 2024-02-29 10610424 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 10610424 core:LandBuildings 2023-03-01 2024-02-29 10610424 core:MotorVehicles 2023-03-01 2024-02-29 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-01 2024-02-29 10610424 1 2023-03-01 2024-02-29 10610424 countries:AllCountries 2023-03-01 2024-02-29 10610424 2023-02-28 10610424 core:RetainedEarningsAccumulatedLosses 2023-02-28 10610424 core:ShareCapital 2023-02-28 10610424 core:SharePremium 2023-02-28 10610424 core:FurnitureFittingsToolsEquipment 2023-02-28 10610424 core:MotorVehicles 2023-02-28 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 10610424 2022-03-01 2023-02-28 10610424 2023-02-28 10610424 bus:OrdinaryShareClass1 2023-02-28 10610424 bus:OrdinaryShareClass2 2023-02-28 10610424 bus:OrdinaryShareClass3 2023-02-28 10610424 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 10610424 core:CurrentFinancialInstruments 2023-02-28 10610424 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10610424 core:Non-currentFinancialInstruments 2023-02-28 10610424 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 10610424 core:FurnitureFittingsToolsEquipment 2023-02-28 10610424 core:MotorVehicles 2023-02-28 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 10610424 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 10610424 core:ShareCapital 2022-03-01 2023-02-28 10610424 core:SharePremium 2022-03-01 2023-02-28 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-02-28 10610424 2022-02-28 10610424 core:RetainedEarningsAccumulatedLosses 2022-02-28 10610424 core:ShareCapital 2022-02-28 10610424 core:SharePremium 2022-02-28 10610424 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-02-28 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10610424

Rigby Group Ltd

trading as Rigby Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Rigby Group Ltd

trading as Rigby Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 12

 

Rigby Group Ltd

trading as Rigby Group Limited

Company Information

Directors

Mrs Linda RIGBY

Miss Victoria Jayne Rigby

Registered office

4 Croft Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR

Accountants

Beckett Rawcliffe Limited Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

 

Rigby Group Ltd

trading as Rigby Group Limited

(Registration number: 10610424)
Balance Sheet as at 29 February 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

5

17,915

26,275

Investment property

6

6,290,900

7,170,900

 

6,308,815

7,197,175

Current assets

 

Debtors

7

4,506,252

4,465,685

Cash at bank and in hand

 

6

-

 

4,506,258

4,465,685

Creditors: Amounts falling due within one year

8

(1,371,377)

(760,196)

Net current assets

 

3,134,881

3,705,489

Total assets less current liabilities

 

9,443,696

10,902,664

Creditors: Amounts falling due after more than one year

8

(9,188,778)

(9,713,498)

Net assets

 

254,918

1,189,166

Capital and reserves

 

Called up share capital

9

200

200

Share premium reserve

4,216,402

4,216,402

Retained earnings

(3,961,684)

(3,027,436)

Shareholders' funds

 

254,918

1,189,166

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

 

Rigby Group Ltd

trading as Rigby Group Limited

(Registration number: 10610424)
Balance Sheet as at 29 February 2024

.........................................
Mrs Linda RIGBY
Director

   
     
 

Rigby Group Ltd

trading as Rigby Group Limited

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 March 2023

200

4,216,402

(3,027,436)

1,189,166

Loss for the year

-

-

(934,248)

(934,248)

At 29 February 2024

200

4,216,402

(3,961,684)

254,918

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 March 2022

200

4,216,402

(625,455)

3,591,147

Loss for the year

-

-

(2,401,981)

(2,401,981)

At 28 February 2023

200

4,216,402

(3,027,436)

1,189,166

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 Croft Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
England

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment Properties

Not depreciated

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 29 February 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

2,281

49,878

52,159

Additions

2,181

-

2,181

At 29 February 2024

4,462

49,878

54,340

Depreciation

At 1 March 2023

114

25,770

25,884

Charge for the year

565

9,976

10,541

At 29 February 2024

679

35,746

36,425

Carrying amount

At 29 February 2024

3,783

14,132

17,915

At 28 February 2023

2,167

24,108

26,275

6

Investment properties

2024
£

At 1 March

7,170,900

Disposals

(880,000)

At 29 February

6,290,900

There has been no valuation of investment property by an independent valuer.

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

353,521

416,706

Amounts owed by related parties

11

4,113,730

4,046,879

Prepayments

 

39,001

2,100

   

4,506,252

4,465,685

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Loans and borrowings

10

80,294

86,242

Trade creditors

 

293,086

359,491

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

-

21,603

Taxation and social security

 

35,421

41,545

Accruals and deferred income

 

71,846

64,538

Other creditors

 

890,730

186,777

 

1,371,377

760,196

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,836,772

8,828,059

Other non-current financial liabilities

 

352,006

885,439

 

9,188,778

9,713,498

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £0.01 each

19,800

198

19,800

198

Ordinary B of £0.01 each

100

1

100

1

Ordinary C of £0.01 each

100

1

100

1

20,000

200

20,000

200

10

Loans and borrowings

Non-current loans and borrowings

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2024
£

2023
£

Bank borrowings

8,817,018

8,796,763

Hire purchase contracts

19,754

31,296

8,836,772

8,828,059

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

80,294

86,242

11

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Inter Company Loan Accounts

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

4,046,879

4,046,879

Repaid

66,851

66,851

At end of period

4,113,730

4,113,730

2023

Entities with joint control or significant influence
£

Total
£

At start of period

4,176,437

4,176,437

Repaid

(129,558)

(129,558)

At end of period

4,046,879

4,046,879

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

907,042

907,042

Repaid

(555,036)

(555,036)

At end of period

352,006

352,006

 

Rigby Group Ltd

trading as Rigby Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2023

Entities with joint control or significant influence
£

Total
£

At start of period

767,273

767,273

Advanced

139,769

139,769

At end of period

907,042

907,042

12

Parent and ultimate parent undertaking

The ultimate controlling party is Victoria Jayne Rigby.