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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 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: T J Mathew
J J Mathew
A Christian
Ms 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 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:





T J Mathew - Director


9 April 2025

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:

T J Mathew , J J Mathew , A Christian and Ms H E Barlow were appointed as directors after 30 June 2024 but prior to the date of this report.

J A Dobson , G A Dobson , G Dobson and B Dobson ceased to be directors after 30 June 2024 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 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:





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 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.




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 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 23,230,067 36,711,543

Cost of sales 18,218,692 29,847,522
GROSS PROFIT 5,011,375 6,864,021

Administrative expenses 4,916,265 8,258,197
OPERATING PROFIT/(LOSS) 4 95,110 (1,394,176 )

Interest receivable and similar
income

23

427
95,133 (1,393,749 )

Interest payable and similar
expenses

5

62,990

28,638
PROFIT/(LOSS) BEFORE TAXATION 32,143 (1,422,387 )

Tax on profit/(loss) 6 (313,790 ) 8,993
PROFIT/(LOSS) FOR THE
FINANCIAL PERIOD

345,933

(1,431,380

)

RALPH LIVESEY LIMITED (REGISTERED NUMBER: 00166886)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 1,647,355 1,125,607

CURRENT ASSETS
Stocks 8 747,205 789,471
Debtors 9 2,765,890 2,605,851
Cash at bank 197,388 165,515
3,710,483 3,560,837
CREDITORS
Amounts falling due within one year 10 4,247,205 4,516,065
NET CURRENT LIABILITIES (536,722 ) (955,228 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,633

170,379

CREDITORS
Amounts falling due after more than
one year

11

(742,238

)

(282,005

)

PROVISIONS FOR LIABILITIES 15 (396,950 ) (262,862 )
NET LIABILITIES (28,555 ) (374,488 )

CAPITAL AND RESERVES
Called up share capital 16 2,600 2,600
Share premium 50 50
Retained earnings (31,205 ) (377,138 )
SHAREHOLDERS' FUNDS (28,555 ) (374,488 )

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 29 SEPTEMBER 2023 TO 30 JUNE 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 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 )

Changes in equity
Total comprehensive income - 345,933 - 345,933
Balance at 30 June 2024 2,600 (31,205 ) 50 (28,555 )

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 1 527,518 (572,077 )
Interest element of hire purchase
payments paid

(49,365

)

(28,638

)
Finance costs paid (13,625 ) -
Tax paid - 84,306
Net cash from operating activities 464,528 (516,409 )

Cash flows from investing activities
Purchase of tangible fixed assets (692,092 ) (82,046 )
Sale of tangible fixed assets 5,250 -
Interest received 23 427
Net cash from investing activities (686,819 ) (81,619 )

Cash flows from financing activities
New loans in year 127,797 -
Intercompany movements (399,194 ) 415,202
Capital repayments in year 587,693 (153,907 )
Amount introduced by directors 101,446 120,000
Amount withdrawn by directors (163,578 ) -
Net cash from financing activities 254,164 381,295

Increase/(decrease) in cash and cash equivalents 31,873 (216,733 )
Cash and cash equivalents at
beginning of period

2

165,515

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 32,143 (1,422,387 )
Depreciation charges 159,388 276,503
Loss on disposal of fixed assets 5,705 43,518
Finance costs 62,990 28,638
Finance income (23 ) (427 )
260,203 (1,074,155 )
Decrease/(increase) in stocks 42,266 (558,137 )
Decrease/(increase) in trade and other debtors 287,839 (409,499 )
(Decrease)/increase in trade and other creditors (62,790 ) 1,469,714
Cash generated from operations 527,518 (572,077 )

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 31,873 197,388
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 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 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
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 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 2,614,585 4,486,873
Social security costs 233,144 369,127
Other pension costs 52,660 85,821
2,900,389 4,941,821

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
136 126

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 178,578 275,079
Other operating leases 138,777 283,200
Depreciation - owned assets 58,930 131,247
Depreciation - assets on hire purchase contracts 100,459 145,254
Loss on disposal of fixed assets 5,705 43,518
Auditors' remuneration 30,256 25,400

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
29.9.23 1.4.22
to to
30.6.24 28.9.23
£    £   
Hire purchase 49,365 28,638
Other finance costs 13,625 -
62,990 28,638

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 (313,790 ) 8,993
Tax on profit/(loss) (313,790 ) 8,993

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 32,143 (1,422,387 )
Profit/(loss) multiplied by the standard rate of corporation tax
in the UK of 25% (2023 - 25%)

8,036

(355,597

)

Effects of:
Expenses not deductible for tax purposes 750 -
Capital allowances in excess of depreciation - (2,357 )
Depreciation in excess of capital allowances 43,605 -

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 596,775 1,784,763 2,381,538
Additions 99,100 592,992 692,092
Disposals - (33,438 ) (33,438 )
At 30 June 2024 695,875 2,344,317 3,040,192
DEPRECIATION
At 29 September 2023 184,587 1,071,344 1,255,931
Charge for period 33,940 125,449 159,389
Eliminated on disposal - (22,483 ) (22,483 )
At 30 June 2024 218,527 1,174,310 1,392,837
NET BOOK VALUE
At 30 June 2024 477,348 1,170,007 1,647,355
At 28 September 2023 412,188 713,419 1,125,607

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 - 776,604 776,604
Additions 90,800 572,992 663,792
At 30 June 2024 90,800 1,349,596 1,440,396
DEPRECIATION
At 29 September 2023 - 257,534 257,534
Charge for period 6,810 93,649 100,459
At 30 June 2024 6,810 351,183 357,993
NET BOOK VALUE
At 30 June 2024 83,990 998,413 1,082,403
At 28 September 2023 - 519,070 519,070

8. STOCKS
2024 2023
£    £   
Stocks 747,205 789,471

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,104,127 1,946,898
Other debtors - 558,940
Tax 447,878 -
VAT 187,035 82,603
Prepayments 26,850 17,410
2,765,890 2,605,851

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) 127,797 -
Hire purchase contracts (see note 13)
271,406

143,945
Trade creditors 3,075,300 3,124,293
Amounts owed to group undertakings - 399,196
Social security and other taxes 78,415 71,795
Other creditors 355,245 202,544
Directors' current accounts 57,868 120,000
Accruals and deferred income 281,174 454,292
4,247,205 4,516,065

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13)
742,238

282,005

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 127,797 -

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 271,406 143,945
Between one and five years 742,238 282,005
1,013,644 425,950

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 139,395 120,000
Between one and five years 539,692 480,000
In more than five years 150,000 180,000
829,087 780,000

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 396,950 262,862

Deferred
tax
£   
Balance at 29 September 2023 262,862
Charge to Income Statement during period 134,088
Balance at 30 June 2024 396,950

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,600 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

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Sales 6,709 -
Purchases 2,642,125 6,671,585
Rents 6,440 115,200
Amount due from related party - 528,940
Amount due from/(to) group companies - (399,195 )

Other related parties
2024 2023
£    £   
Purchases 240,243 -
Amount due from related party 38,608 -
Amount due to related party 174,570 -

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.