Company registration number 01836410 (England and Wales)
RIBBLE VALLEY SHELVING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
RIBBLE VALLEY SHELVING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
RIBBLE VALLEY SHELVING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
1,238,612
1,652,841
Current assets
Inventories
49,491
221,689
Trade and other receivables
5
75,603
68,499
Cash and cash equivalents
1,526,409
4,352
1,651,503
294,540
Current liabilities
6
(593,565)
(255,197)
Net current assets
1,057,938
39,343
Total assets less current liabilities
2,296,550
1,692,184
Non-current liabilities
7
-
0
(2,800)
Provisions for liabilities
(189,203)
(234,147)
Net assets
2,107,347
1,455,237
Equity
Called up share capital
8
10,002
10,002
Revaluation reserve
631,437
991,765
Retained earnings
1,465,908
453,470
Total equity
2,107,347
1,455,237

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RIBBLE VALLEY SHELVING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
Mr. D Shaw
Director
Company Registration No. 01836410
RIBBLE VALLEY SHELVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Ribble Valley Shelving Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Shay Lane Industrial Estate, Longridge, Preston, Lancashire, United Kingdom, PR3 3BT.

1.1
Reporting period

The company has shortened its accounting year end to 31 July 2023 as it better suits the business. Therefore, the results for the current period are for nine months and the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold building
1% straight line
Leasehold improvements
25% straight line
Plant and machinery
10% straight line
Fixtures and fittings
20% straight line
Motor vehicles
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RIBBLE VALLEY SHELVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Inventories

Inventories are stated at the lower of cost and estimated selling price after making due allowance for slow moving items.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has only financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

RIBBLE VALLEY SHELVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.11
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 non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
11
RIBBLE VALLEY SHELVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
4
Property, plant and equipment
Freehold building
Leasehold improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 August 2023
1,700,000
-
0
283,511
39,715
112,807
2,136,033
Additions
-
0
13,200
8,949
2,334
110,078
134,561
Disposals
(549,289)
-
0
-
0
-
0
(42,185)
(591,474)
At 31 July 2024
1,150,711
13,200
292,460
42,049
180,700
1,679,120
Depreciation and impairment
At 1 August 2023
112,375
-
0
244,433
35,678
90,706
483,192
Depreciation charged in the year
-
0
-
0
9,194
1,262
12,274
22,730
Eliminated in respect of disposals
(36,664)
-
0
-
0
-
0
(28,750)
(65,414)
At 31 July 2024
75,711
-
0
253,627
36,940
74,230
440,508
Carrying amount
At 31 July 2024
1,075,000
13,200
38,833
5,109
106,470
1,238,612
At 31 July 2023
1,587,625
-
0
39,078
4,037
22,101
1,652,841

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been as follows:

2024
2023
£
£
Cost
291,972
481,117
Accumulated depreciation
(67,014)
(120,595)
Carrying value
224,958
360,522
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
59,243
59,405
Other receivables
16,360
9,094
75,603
68,499
RIBBLE VALLEY SHELVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
6
Current liabilities
2024
2023
£
£
Bank loans and overdrafts
-
0
64,587
Trade payables
117,991
128,947
Taxation and social security
311,178
18,382
Other payables
164,396
43,281
593,565
255,197
7
Non-current liabilities
2024
2023
£
£
Bank loans and overdrafts
-
0
2,800

 

 

8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary A shares of £1 each
10,000
10,000
1 Ordinary B shares of £1 each
1
1
1 Ordinary C shares of £1 each
1
1
10,002
10,002
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