REGISTERED NUMBER: |
RALPH LIVESEY LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
REGISTERED NUMBER: |
RALPH LIVESEY LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 5 |
Report of the Independent Auditors | 7 |
Income Statement | 11 |
Balance Sheet | 12 |
Statement of Changes in Equity | 13 |
Cash Flow Statement | 14 |
Notes to the Cash Flow Statement | 15 |
Notes to the Financial Statements | 17 |
RALPH LIVESEY LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
STRATEGIC REPORT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
The directors present their strategic report for the period 29 September 2023 to 30 June 2024. |
REVIEW OF BUSINESS |
The 9 month period to 30 June 2024 continued to be one of significant operational and financial challenge for Ralph Livesey Ltd. While sales continued to grow, reflecting continued strong demand and product expansion, the business was impacted by high food inflation, margin pressure, and escalating distribution costs. These challenges were compounded by the administration of its former parent company, T Dobson & Sons (Produce) Limited, which resulted in an extended period of underinvestment and a lack of strategic oversight. |
Despite the challenging environment, the underlying demand for Ralph Livesey’s service offering remained strong, particularly within its core education and care sectors. The company recorded a profit of £345,933 for the period. However, limited access to working capital and delayed pricing decisions ultimately constrained performance. |
Profit and cash flow pressure continued post year-end and on that basis the Directors considered the best options for the company going forward. Plans are described in more detail in the "Future Developments" section of this report. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The Directors recognise that the business has emerged from a period of considerable risk. However, with group-level governance now in place, stronger oversight of contracts and pricing, and access to investment capital, the company is well positioned to avoid similar challenges in the future. |
Key risks such as cashflow pressure, inflationary shocks, and supply chain disruption are being mitigated through better forward planning, supplier consolidation, and alignment with Dunsters Farm’s established procurement framework. |
KEY PERFORMANCE INDICATORS |
Sales were £36,711,543 for the 18 months ended 28 September 2023 and £23,230,067 for the 9 months ended 30 June 2024. When considering this is half the period, sales have increased. |
Gross profit has increased from 18.7% in 2023 to 21.57% in 2024. |
Administration expenses, including all wages costs, has decreased from £8,258,197 in 2023 to £4,916,265 in 2024. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
STRATEGIC REPORT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
FUTURE DEVELOPMENTS |
A New Chapter Under New Ownership |
On 26 March 2025, Ralph Livesey Ltd was acquired by Dunsters Farm Holdings Limited - a well-established, independently owned food service operator with a strong reputation for professionalism, customer service, and operational excellence. |
This acquisition represents a clear turning point. The company is no longer constrained by the legacy of its former parent and is now part of a group with the scale, structure, and leadership to unlock its full potential. Under new ownership, Ralph Livesey Ltd is already benefiting from immediate support across finance, commercial strategy, procurement and logistics. |
The acquisition also brings together two highly complementary businesses with shared values, overlapping customer bases, and strong regional presence. As a combined group, it is now the largest independent food service provider in the North West, delivering a broader product range, enhanced delivery capabilities, and deeper sector expertise to customers across the region. |
A Confident Outlook |
The integration of Ralph Livesey Ltd into the Dunsters Farm group has been approached with pace and purpose. Early wins in supplier negotiations, customer engagement, and operational streamlining are already evident, and the business is on track to return to profitability in the near term. |
The combined strength of the group offers customers greater service consistency, improved value, and a trusted regional partner with deep sector knowledge. The Directors are confident that, with the right leadership and support now in place, Ralph Livesey Ltd will play a key role in the group’s long-term growth |
strategy. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
STRATEGIC REPORT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
STRATEGIC PRIORITIES |
The Directors have set out a clear vision for the integration and transformation of Ralph Livesey Ltd, built around five core strategic priorities: |
Operational Integration |
Leveraging shared infrastructure, logistics, and procurement systems across the group to improve service and drive efficiencies. |
Commercial Growth |
Winning and retaining contracts through improved pricing discipline, customer service, and market reach particularly within education, care, and hospitality. |
People & Culture |
Investing in the Ralph Livesey team, aligning culture with the wider group, and creating a performance-driven, customer-first mindset. |
Technology & Investment |
Rolling out group-wide systems and tools that improve forecasting, customer ordering, and operational visibility. |
Governance & Financial Control |
Embedding robust financial oversight and cash management practices, supported by Dunsters Farm’s experienced leadership team. |
ON BEHALF OF THE BOARD: |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
The directors present their report with the financial statements of the company for the period 29 September 2023 to 30 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of produce merchants. |
DIVIDENDS |
No dividends will be distributed for the period ended 30 June 2024. |
EVENTS SINCE THE END OF THE PERIOD |
Information relating to events since the end of the period is given in the notes to the financial statements. |
DIRECTORS |
The directors who have held office during the period from 29 September 2023 to the date of this report are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
AUDITORS |
The auditors, Rushtons, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RALPH LIVESEY LIMITED |
Qualified opinion |
We have audited the financial statements of Ralph Livesey Limited (the 'company') for the period ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion, except for the possible effects of the matters described in the basis for qualified |
opinion section of our audit report, the financial statements: |
- give a true and fair view of the state of the company's affairs as at 28 September 2023 and of its profit for the period then ended; |
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for qualified opinion |
We have been unable to obtain sufficient appropriate evidence to support opening stock of £789,471. We were unable to attend the year end stock take to verify stock quantities and we have not been provided with an appropriate breakdown of the stock valuation to enable sufficient audit testing to be carried out. |
We have been unable to obtain sufficient appropriate evidence to support closing stock of £735,917. We were unable to attend the year end stock take to verify stock quantities. Any adjustments to stock would have a consequential effect on the net profit/(loss) for the period and the net liability position. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
Material uncertainty related to going concern |
The company incurred a net profit of £345,933 during the period ended 30 June 2024 and had net liabilities of £28,555 as at 30 June 2024. As stated in Note 2, the financial statements have been prepared on a going concern basis. The company continues to operate in a net liability position post the period end. This indicates that a material uncertainty exists that may cause significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RALPH LIVESEY LIMITED |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
As described in the basis for the qualified opinion section of our report, we were unable to satisfy ourselves concerning the closing stock valuation, which may have an impact of the financial information detailed in the Strategic Report. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. |
Opinions on other matters prescribed by the Companies Act 2006 |
Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit: |
- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report. |
Arising from the limitation on the scope of our work relating to stock referred to above: |
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit |
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RALPH LIVESEY LIMITED |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Identifying and assessing potential risks related to irregularities |
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered a number of issues, such as the nature of the company's industry, their control environment and business performance. We also discussed amongst our engagement team how and where fraud might occur and any potential indicators of fraud. |
We obtained an understanding of the legal and regulatory framework that the company operates in and focussed our attention on any laws and regulations which might be considered as "showstoppers". We also looked at internal controls in place at the company, established to mitigate risks related to fraud or non-compliance with laws and regulations. |
In response to other identified risks, we reviewed the financial statement disclosures, we made enquiries of the company as to potential litigation and claims, we performed analytical procedures to look for unusual trends or unexpected relationships. |
We attempted to address the risk of fraud through management override of controls by testing appropriate journal entries and other adjustments. However this was not something the client was able to provide to us and forms part of our qualification. We also assessed accounting estimates and considered any significant transactions that might be considered unusual in the normal course of business. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
RALPH LIVESEY LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
INCOME STATEMENT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT/(LOSS) | 4 | ( |
) |
Interest receivable and similar income |
95,133 | (1,393,749 | ) |
Interest payable and similar expenses |
5 |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | 6 | ( |
) |
PROFIT/(LOSS) FOR THE FINANCIAL PERIOD |
( |
) |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
11 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) | - | ( |
) |
Balance at 28 September 2023 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - | - |
Balance at 30 June 2024 | ( |
) | ( |
) |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
CASH FLOW STATEMENT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Finance costs paid | (13,625 | ) | - |
Tax paid |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
New loans in year |
Intercompany movements | (399,194 | ) | 415,202 |
Capital repayments in year | ( |
) |
Amount introduced by directors | 101,446 | 120,000 |
Amount withdrawn by directors | (163,578 | ) | - |
Net cash from financing activities |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of period |
2 |
382,248 |
Cash and cash equivalents at end of period |
2 |
197,388 |
165,515 |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Profit/(loss) before taxation | ( |
) |
Depreciation charges |
Loss on disposal of fixed assets |
Finance costs | 62,990 | 28,638 |
Finance income | (23 | ) | (427 | ) |
260,203 | (1,074,155 | ) |
Decrease/(increase) in stocks | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 30 June 2024 |
30.6.24 | 29.9.23 |
£ | £ |
Cash and cash equivalents | 197,388 | 165,515 |
Period ended 28 September 2023 |
28.9.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 165,515 | 382,248 |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 29.9.23 | Cash flow | At 30.6.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 165,515 | 31,873 | 197,388 |
165,515 | 197,388 |
Debt |
Finance leases | (425,950 | ) | (587,694 | ) | (1,013,644 | ) |
Debts falling due within 1 year | - | (127,797 | ) | (127,797 | ) |
(425,950 | ) | (715,491 | ) | (1,141,441 | ) |
Total | (260,435 | ) | (683,618 | ) | (944,053 | ) |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Ralph Livesey Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is that of Pounds Sterling and amounts are rounded to £1. |
The period end date has been shortened by three months to the current reporting date of 30 June 2024. The reason for this change was because of the administration of the former parent company, T Dobson & Sons (Produce) Limited. The comparative period is for 18 months and as such, may not be entirely comparable. |
Going Concern |
The directors recognise that the company was operating an almost breakeven position and a net liability position as at 30 June 2024. Since the period end the company has been sold to Dunsters Farm (Holdings) Limited. Dunsters Farm (Holdings) Limited will provide financial and operational support to the company for a minimum of 12 months from the date of the approval of these accounts. Dunsters Farm (Holdings) Limited can provide the company with positive synergies as they draw on their existing knowledge and experience of operating in the food wholesale market. As such, the company continues to adopt the going concern basis in preparing the financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
In the preparation of the financial statements, the directors have made judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. |
In the process of of applying the company's accounting policies a critical accounting judgement has been made to recognise provisions for irrecoverable debts. At each balance sheet date, management undertake a review of the outstanding trade debtor balances and estimate the balance that should be impaired or provided against. |
The calculation is based upon the financial position of the relevant customers, the historical speed of payment compared to approved credit terms and the status/progress of any ongoing communications with them. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 in the profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or realise the asset and settle the liability simultaneously. |
Basic financial assets, which include debtors, prepayments and bank accounts, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, and any borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicated otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, which ever is shorter. |
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. |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
3. | EMPLOYEES AND DIRECTORS |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the period was as follows: |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
Administration and sales | 25 | 20 |
Transport | 72 | 72 |
Production | 39 | 34 |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Directors' remuneration |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
4. | OPERATING PROFIT/(LOSS) |
The operating profit (2023 - operating loss) is stated after charging: |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
Loss on disposal of fixed assets |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Hire purchase |
Other finance costs |
6. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the period was as follows: |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Deferred tax | ( |
) |
Tax on profit/(loss) | ( |
) |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
6. | TAXATION - continued |
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
Period | Period |
29.9.23 | 1.4.22 |
to | to |
30.6.24 | 28.9.23 |
£ | £ |
Profit/(loss) before tax | ( |
) |
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of |
( |
) |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Losses carried forward | - | 304,744 |
Reverse deferred tax on losses brought forward | - | 62,203 |
Origination and reversal of timing differences | 767 | - |
Deferred tax on losses brought forward | (366,948 | ) | - |
Total tax (credit)/charge | (313,790 | ) | 8,993 |
7. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 29 September 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 29 September 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 28 September 2023 |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
7. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 29 September 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 29 September 2023 |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 28 September 2023 |
8. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
VAT |
Prepayments |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 12) |
Hire purchase contracts (see note 13) |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Directors' current accounts | 57,868 | 120,000 |
Accruals and deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 13) |
12. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
13. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
13. | LEASING AGREEMENTS - continued |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
14. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 1,013,644 | 425,950 |
Hire purchase liabilities are secured against the assets to which they relate. |
15. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 29 September 2023 |
Charge to Income Statement during period |
Balance at 30 June 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2,600 | 2,600 |
RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2023 TO 30 JUNE 2024 |
17. | RELATED PARTY DISCLOSURES |
2024 | 2023 |
£ | £ |
Sales |
Purchases |
Rents | 6,440 | 115,200 |
Amount due from related party |
Amount due from/(to) group companies | ( |
) |
2024 | 2023 |
£ | £ |
Purchases |
Amount due from related party |
Amount due to related party |
18. | POST BALANCE SHEET EVENTS |
T Dobson & Sons (Produce) Limited went into administration on 20 March 2024. The bank holds a cross guarantee between T Dobsons & Sons (Produce) Limited and the company. |
On 26 March 2025, all of the company's share capital was sold to Dunsters Farm (Holdings) Limited. As part of the share purchase agreement any liabilities as a result of the cross guarantee held by the bank were settled. |