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REGISTERED NUMBER: 00166886 (England and Wales)












RALPH LIVESEY LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023






RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023




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 1 APRIL 2022 TO 28 SEPTEMBER 2023







DIRECTORS: T J Mathew
J J Mathew
A Christian
H E Barlow





REGISTERED OFFICE: 72b Roman Way
Longridge Road
Ribbleton
Preston
Lancashire
PR2 5BE





REGISTERED NUMBER: 00166886 (England and Wales)





AUDITORS: Rushtons
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 1 APRIL 2022 TO 28 SEPTEMBER 2023

The directors present their strategic report for the period 1 April 2022 to 28 September 2023.

REVIEW OF BUSINESS
The 18-month period to 28 September 2023 was one of significant operational and financial challenge for Ralph Livesey Ltd. While turnover grew to over £36 million, reflecting 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. However, limited access to working capital and delayed pricing decisions ultimately constrained performance and led to a loss before tax of £1.4 million for the period.

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 company has a policy of identification and review of key business risks and ensures that these risks are managed appropriately. The keys risks identified by the company are:

Cash flow risk
The company reviews requirements on a daily basis and prioritises the most critical business needs based upon cash availability. The business update detailed under the "Future Developments" section of this report addresses the cash flow risk the company faces.

Inflationary risk
Significant food inflation impacted the business during the period, Where possible customer contracts have been adjusted in line with inflation and more contracts for the procurement of products have been fixed to align with customer contracts.

Credit risk
In order to mitigate risk, directors set limits for customers based on previous payment history and credit references. Credit limits are reviewed as well as debt ageing.

Supply risk
The company look to mitigate risk by implementing a rigorous supplier selection process and working closely with a variety of suppliers.

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.

The key risks mentioned above are being mitigated through better forward planning, supplier consolidation, and alignment with Dunsters Farm’s established procurement framework.


RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

KEY PERFORMANCE INDICATORS
Sales have increased from £18,944,703 for the 12 months ended 31 March 2022 to £36,711,543 for the 18 months ended 28 September 2023, an increase of 29.2% (pro rated).

Gross profit has decreased from 25.9% in 2022 to 18.7% in 2023.

Administration expenses, including all wages costs, have increased from £4,603,307 in 2022 to £8,258,197 in 2023.

A decrease in gross profit margins and an increase in administration expenses has resulted in a loss before tax of £1,422,387 (2022: profit before tax £297,231).

As at 28 September 2023 the company has net liabilities of £374,488.

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 1 APRIL 2022 TO 28 SEPTEMBER 2023

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:





T J Mathew - Director


9 April 2025

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

The directors present their report with the financial statements of the company for the period 1 April 2022 to 28 September 2023.

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 28 September 2023.

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
G A Dobson, T J Mathew, J J Mathew, A Christian and H E Barlow were appointed as directors after 28 September 2023 but prior to the date of this report.

J A Dobson, G Dobson, B Dobson and G A Dobson ceased to be directors after 28 September 2023 but prior to the date of this report.

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 1 APRIL 2022 TO 28 SEPTEMBER 2023


AUDITORS
The auditors, Rushtons, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T J Mathew - Director


9 April 2025

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 28 September 2023 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 closing stock of £789,471. We were unable to attend the year end stock take to verify quantities and we have not been provided with an appropriate breakdown of the stock valuation to enable sufficient audit testing to be carried out. Any adjustments to stock would have a consequential effect on the net 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 loss of £1,431,380 during the period ended 28 September 2023 and had net liabilities of £374,488 as at 28 September 2023. As stated in Note 2, the financial statements have been prepared on a going concern basis. The company continues to make losses and 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; and
- we were unable to determine whether adequate accounting records have been kept.

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:

- 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.




Adam Calvert (Senior Statutory Auditor)
for and on behalf of Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

10 April 2025

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

INCOME STATEMENT
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

Period
1.4.22
to Year Ended
28.9.23 31.3.22
Notes £    £   

TURNOVER 36,711,543 18,944,703

Cost of sales 29,847,522 14,033,287
GROSS PROFIT 6,864,021 4,911,416

Administrative expenses 8,258,197 4,603,307
OPERATING (LOSS)/PROFIT 4 (1,394,176 ) 308,109

Interest receivable and similar
income

427

-
(1,393,749 ) 308,109

Interest payable and similar
expenses

5

28,638

10,878
(LOSS)/PROFIT BEFORE TAXATION (1,422,387 ) 297,231

Tax on (loss)/profit 6 8,993 33,640
(LOSS)/PROFIT FOR THE
FINANCIAL PERIOD

(1,431,380

)

263,591

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

BALANCE SHEET
28 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,125,607 1,363,580

CURRENT ASSETS
Stocks 9 789,471 231,334
Debtors 10 2,605,851 2,296,664
Cash at bank and in hand 165,515 382,248
3,560,837 2,910,246
CREDITORS
Amounts falling due within one year 11 4,516,065 2,546,950
NET CURRENT (LIABILITIES)/ASSETS (955,228 ) 363,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,379

1,726,876

CREDITORS
Amounts falling due after more than
one year

12

(282,005

)

(416,115

)

PROVISIONS FOR LIABILITIES 15 (262,862 ) (253,869 )
NET (LIABILITIES)/ASSETS (374,488 ) 1,056,892

CAPITAL AND RESERVES
Called up share capital 16 2,600 2,600
Share premium 50 50
Retained earnings (377,138 ) 1,054,242
SHAREHOLDERS' FUNDS (374,488 ) 1,056,892

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





T J Mathew - Director


RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 2021 2,600 990,651 50 993,301

Changes in equity
Dividends - (200,000 ) - (200,000 )
Total comprehensive income - 263,591 - 263,591
Balance at 31 March 2022 2,600 1,054,242 50 1,056,892

Changes in equity
Total comprehensive income - (1,431,380 ) - (1,431,380 )
Balance at 28 September 2023 2,600 (377,138 ) 50 (374,488 )

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

Period
1.4.22
to Year Ended
28.9.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (572,077 ) 412,395
Interest paid - (408 )
Interest element of hire purchase
payments paid

(28,638

)

(10,470

)
Tax paid 84,306 (45,618 )
Net cash from operating activities (516,409 ) 355,899

Cash flows from investing activities
Purchase of tangible fixed assets (82,046 ) (897,227 )
Interest received 427 -
Net cash from investing activities (81,619 ) (897,227 )

Cash flows from financing activities
Intercompany movements 415,202 (65,161 )
Capital repayments in year (153,907 ) 570,235
Amount introduced by directors 120,000 -
Amount withdrawn by directors - (200,000 )
Equity dividends paid - (200,000 )
Net cash from financing activities 381,295 105,074

Decrease in cash and cash equivalents (216,733 ) (436,254 )
Cash and cash equivalents at
beginning of period

2

382,248

818,502

Cash and cash equivalents at end
of period

2

165,515

382,248

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED
FROM OPERATIONS

Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
(Loss)/profit before taxation (1,422,387 ) 297,231
Depreciation charges 276,503 198,430
Loss on disposal of fixed assets 43,518 -
Finance costs 28,638 10,878
Finance income (427 ) -
(1,074,155 ) 506,539
Increase in stocks (558,137 ) (146,274 )
Increase in trade and other debtors (409,499 ) (920,380 )
Increase in trade and other creditors 1,469,714 972,510
Cash generated from operations (572,077 ) 412,395

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 28 September 2023
28.9.23 1.4.22
£    £   
Cash and cash equivalents 165,515 382,248
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 382,248 818,502


RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.22 Cash flow At 28.9.23
£    £    £   
Net cash
Cash at bank and in hand 382,248 (216,733 ) 165,515
382,248 (216,733 ) 165,515
Debt
Finance leases (579,855 ) 153,905 (425,950 )
(579,855 ) 153,905 (425,950 )
Total (197,607 ) (62,828 ) (260,435 )

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

1. STATUTORY INFORMATION

Ralph Livesey 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 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.

The presentation currency of the financial statements is that of Pounds Sterling and amounts are rounded to £1.

The period end date has been extended to include six additional months to the current reporting date of 28 September 2023. The reason for this change was because of the impending administration of the parent company, T Dobson & Sons (Produce) Limited. The comparative period is for 12 months only and as such, may not be entirely comparable.

Going Concern
The directors recognise that the company operated at a loss and had insufficient funds to meet business requirements beyond twelve month as at 28 September 2023. 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. Consequently, they expect to significantly reduce costs. As such, the company continues to adopt the going concern basis when 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 1 APRIL 2022 TO 28 SEPTEMBER 2023

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance and 2.5% on cost
Motor vehicles - 15% on reducing balance

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 1 APRIL 2022 TO 28 SEPTEMBER 2023

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 1 APRIL 2022 TO 28 SEPTEMBER 2023

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
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Wages and salaries 4,486,873 2,386,493
Social security costs 369,127 187,853
Other pension costs 85,821 45,557
4,941,821 2,619,903

The average number of employees during the period was as follows:
Period
1.4.22
to Year Ended
28.9.23 31.3.22

Administration and sales 20 20
Transport 72 62
Production 34 25
126 107

Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Directors' remuneration - -

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Hire of plant and machinery 275,079 74,594
Other operating leases 283,200 136,800
Depreciation - owned assets 131,247 86,149
Depreciation - assets on hire purchase contracts 145,254 112,280
Loss on disposal of fixed assets 43,518 -
Auditors' remuneration 25,400 5,300

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Other interest charged - 408
Hire purchase 28,638 10,470
28,638 10,878

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the period was as follows:
Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Current tax:
UK corporation tax - (84,306 )

Deferred tax 8,993 117,946
Tax on (loss)/profit 8,993 33,640

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
(Loss)/profit before tax (1,422,387 ) 297,231
(Loss)/profit multiplied by the standard rate of corporation tax
in the UK of 25% (2022 - 19%)

(355,597

)

56,474

Effects of:
Capital allowances in excess of depreciation (2,357 ) (67,292 )
Changes in tax rates - 44,458
Losses carried forward 304,744 -
Reverse deferred tax on losses bought forward 62,203 -
Total tax charge 8,993 33,640

The company has losses to carry forward of £1,467,788. A deferred tax asset has not been recognised in relation to the losses due to the uncertainty of when they will be utilised.

7. DIVIDENDS
Period
1.4.22
to Year Ended
28.9.23 31.3.22
£    £   
Ordinary shares of £1 each
Interim - 200,000

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

8. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 929,632 2,762,733 3,692,365
Additions 53,943 28,103 82,046
Disposals (386,800 ) (1,006,073 ) (1,392,873 )
At 28 September 2023 596,775 1,784,763 2,381,538
DEPRECIATION
At 1 April 2022 497,697 1,831,088 2,328,785
Charge for period 64,774 211,727 276,501
Eliminated on disposal (377,884 ) (971,471 ) (1,349,355 )
At 28 September 2023 184,587 1,071,344 1,255,931
NET BOOK VALUE
At 28 September 2023 412,188 713,419 1,125,607
At 31 March 2022 431,935 931,645 1,363,580

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 748,500
Additions 28,104
At 28 September 2023 776,604
DEPRECIATION
At 1 April 2022 112,280
Charge for period 145,254
At 28 September 2023 257,534
NET BOOK VALUE
At 28 September 2023 519,070
At 31 March 2022 636,220

9. STOCKS
2023 2022
£    £   
Stocks 789,471 231,334

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,946,898 1,582,192
Amounts owed by group undertakings - 16,006
Other debtors 558,940 528,940
Tax - 84,306
VAT 82,603 65,726
Prepayments 17,410 19,494
2,605,851 2,296,664

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 13)
143,945

163,740
Trade creditors 3,124,293 2,136,950
Amounts owed to group undertakings 399,196 -
Social security and other taxes 71,795 46,715
Other creditors 202,544 -
Directors' current accounts 120,000 -
Accruals and deferred income 454,292 199,545
4,516,065 2,546,950

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 13)
282,005

416,115

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 143,945 163,740
Between one and five years 282,005 416,115
425,950 579,855

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

13. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 120,000 120,000
Between one and five years 480,000 480,000
In more than five years 180,000 300,000
780,000 900,000

14. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 425,950 579,855

Hire purchase liabilities are secured against the assets to which they relate.

The bank has the benefit of a debenture dated 30 September 2014 creating a fixed and floating charge over the company's assets together with leasehold premises held by the directors personally.

15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 262,862 316,072
Tax losses carried forward - (62,203 )
262,862 253,869

Deferred
tax
£   
Balance at 1 April 2022 253,869
Charge to Income Statement during period 8,993
Balance at 28 September 2023 262,862

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 28 SEPTEMBER 2023

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,600 Ordinary £1 2,600 2,600

17. ULTIMATE PARENT COMPANY

As at 28 September 2023, the ultimate parent company of Ralph Livesey was T Dobson & Sons (Produce) Limited, a company registered in England and Wales.

18. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2023 2022
£    £   
Purchases 6,671,585 3,447,665
Rents 115,200 76,800
Management charge - 300,000
Amount due from related party 528,940 528,940
Amount due from/(to) group companies (399,195 ) 16,006

19. POST BALANCE SHEET EVENTS

On the 28 February 2024, all of the company's share capital was transferred from T Dobson & Sons (Produce) Limited to B Dobson, G Dobson and J Dobson, directors, in equal proportions.

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.