E.T.Riddiough (Sales) Limited 04332273 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a caravan accessory wholesaler. Digita Accounts Production Advanced 6.30.9574.0 true true true 04332273 2023-09-01 2024-08-31 04332273 2024-08-31 04332273 bus:OrdinaryShareClass1 2024-08-31 04332273 2 2024-08-31 04332273 core:CurrentFinancialInstruments 2024-08-31 04332273 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04332273 core:Goodwill 2024-08-31 04332273 core:OtherResidualIntangibleAssets 2024-08-31 04332273 core:BetweenTwoFiveYears 2024-08-31 04332273 core:MoreThanFiveYears 2024-08-31 04332273 core:WithinOneYear 2024-08-31 04332273 core:FurnitureFittingsToolsEquipment 2024-08-31 04332273 core:MotorVehicles 2024-08-31 04332273 core:OtherPropertyPlantEquipment 2024-08-31 04332273 core:OtherRelatedParties 2024-08-31 04332273 core:ParentEntities 2024-08-31 04332273 bus:SmallEntities 2023-09-01 2024-08-31 04332273 bus:Audited 2023-09-01 2024-08-31 04332273 bus:FilletedAccounts 2023-09-01 2024-08-31 04332273 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04332273 bus:RegisteredOffice 2023-09-01 2024-08-31 04332273 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 04332273 bus:Director3 2023-09-01 2024-08-31 04332273 bus:Director6 2023-09-01 2024-08-31 04332273 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04332273 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04332273 core:Goodwill 2023-09-01 2024-08-31 04332273 core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 04332273 core:FurnitureFittings 2023-09-01 2024-08-31 04332273 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 04332273 core:MotorVehicles 2023-09-01 2024-08-31 04332273 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 04332273 core:PlantMachinery 2023-09-01 2024-08-31 04332273 core:OtherRelatedParties 2023-09-01 2024-08-31 04332273 core:OtherRelatedParties core:Leases 2023-09-01 2024-08-31 04332273 core:OtherRelatedParties core:SaleOrPurchaseGoods 2023-09-01 2024-08-31 04332273 core:OtherRelatedParties core:TransfersResearchDevelopment 2023-09-01 2024-08-31 04332273 core:ParentEntities 2023-09-01 2024-08-31 04332273 core:ParentEntities core:Leases 2023-09-01 2024-08-31 04332273 core:ParentEntities core:SaleOrPurchaseGoods 2023-09-01 2024-08-31 04332273 core:ParentEntities core:TransfersResearchDevelopment 2023-09-01 2024-08-31 04332273 1 2023-09-01 2024-08-31 04332273 countries:EnglandWales 2023-09-01 2024-08-31 04332273 2023-08-31 04332273 core:Goodwill 2023-08-31 04332273 core:OtherResidualIntangibleAssets 2023-08-31 04332273 core:FurnitureFittingsToolsEquipment 2023-08-31 04332273 core:MotorVehicles 2023-08-31 04332273 core:OtherPropertyPlantEquipment 2023-08-31 04332273 2022-09-01 2023-08-31 04332273 2023-08-31 04332273 bus:OrdinaryShareClass1 2023-08-31 04332273 2 2023-08-31 04332273 core:CurrentFinancialInstruments 2023-08-31 04332273 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04332273 core:Goodwill 2023-08-31 04332273 core:OtherResidualIntangibleAssets 2023-08-31 04332273 core:BetweenTwoFiveYears 2023-08-31 04332273 core:MoreThanFiveYears 2023-08-31 04332273 core:WithinOneYear 2023-08-31 04332273 core:FurnitureFittingsToolsEquipment 2023-08-31 04332273 core:MotorVehicles 2023-08-31 04332273 core:OtherPropertyPlantEquipment 2023-08-31 04332273 core:OtherRelatedParties 2023-08-31 04332273 core:ParentEntities 2023-08-31 04332273 core:OtherRelatedParties 2022-09-01 2023-08-31 04332273 core:OtherRelatedParties core:Leases 2022-09-01 2023-08-31 04332273 core:OtherRelatedParties core:SaleOrPurchaseGoods 2022-09-01 2023-08-31 04332273 core:OtherRelatedParties core:TransfersResearchDevelopment 2022-09-01 2023-08-31 04332273 core:ParentEntities 2022-09-01 2023-08-31 04332273 core:ParentEntities core:Leases 2022-09-01 2023-08-31 04332273 core:ParentEntities core:SaleOrPurchaseGoods 2022-09-01 2023-08-31 04332273 core:ParentEntities core:TransfersResearchDevelopment 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04332273

E.T.Riddiough (Sales) Limited

Filleted Financial Statements

for the Year Ended 31 August 2024

 

E.T.Riddiough (Sales) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 11

 

E.T.Riddiough (Sales) Limited

Company Information

Directors

H Combarnous

M Freiche

S Gigou

Company secretary

M Freiche

Registered office

Unit 5 Farrington Place
Burnley
BB11 5TY

Auditors

KM
Chartered Accountants & Statutory Auditors
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

 

E.T.Riddiough (Sales) Limited

(Registration number: 04332273)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

7,171

-

Tangible assets

6

89,432

53,177

 

96,603

53,177

Current assets

 

Stocks

7

1,603,855

1,688,294

Debtors

8

1,008,350

873,382

Cash at bank and in hand

 

698,566

716,875

 

3,310,771

3,278,551

Creditors: Amounts falling due within one year

9

(4,423,676)

(4,282,680)

Net current liabilities

 

(1,112,905)

(1,004,129)

Net liabilities

 

(1,016,302)

(950,952)

Capital and reserves

 

Called up share capital

10

20,000

20,000

Retained earnings

(1,036,302)

(970,952)

Shareholders' deficit

 

(1,016,302)

(950,952)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 May 2025 and signed on its behalf by:
 

.........................................
S Gigou
Director

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Unit 5 Farrington Place
Burnley
BB11 5TY

These financial statements were authorised for issue by the Board on 12 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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

Basis of preparation

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

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 £.

Going concern

The financial statements have been prepared on a going concern basis, on the basis of continuing support of the parent company and the non-withdrawal of the loan in preference to other creditors of the company.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 May 2025 was Mark Heaton FCCA, who signed for and on behalf of KM.

.........................................

Turnover recognition

Turnover is the amount receivable by the company in the ordinary course of business for goods supplied as principal excluding trade discounts and value added tax. Turnover and profit is recognised when invoices are raised which corresponds with the time delivery or supply to the customer.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Tax

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

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

Over 10 years straight line basis

Motor vehicles

Over 5 years straight line basis

Plant and equipment

Over 5 to 20 years straight line basis

Intangible assets

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

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

Asset class

Amortisation method and rate

Website

Over 5 years straight line basis

Cash and cash equivalents

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

Trade debtors

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

Trade debtors with no stated interest rate are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the standard cost method and includes amounts for carriage inwards and allowances for discounts receivable.

Trade creditors

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

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

Leases

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

Share capital

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Derivative financial instruments

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit and loss.
 

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

3

Judgements and key sources of estimation uncertainty

Judgements

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 liabilites 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation

The depreciation expense is the recognition of the decline in the value of the asset and allocation of the cost of the asset over the periods in which the asset will be used. Judgements are made as to the estimated useful life of the assets; these are regularly reviewed to reflect the changing environment.

Stock provision

The provision is based on a review of old/ slow moving stock lines and the estimated realisation of that stock. The estimated realisation is based on past experience and subsequent recovery after the year end. These judgements are regularly reviewed to reflect the changing environment.

Bad debt provision

The bad debt provision is based on a review of old/ slow paying customer balances and the estimated recoverability of those balances. Estimated recoverability is based on past experience and subsequent recovery after the year end. These judgements are regularly reviewed to reflect the changing environment.

Sales rebates

Provision for sales rebates are based on estimated amounts due based on quantities purchased by customers during the year. The estimated amounts ar based on past experience and amounts subsequently paid after the year end. These judgements are regularly reviewed to reflect the changing environment.

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

5

Intangible assets

Goodwill
 £

Website
£

Total
£

Cost or valuation

At 1 September 2023

6

-

6

Additions

-

8,436

8,436

At 31 August 2024

6

8,436

8,442

Amortisation

At 1 September 2023

6

-

6

Amortisation charge

-

1,265

1,265

At 31 August 2024

6

1,265

1,271

Carrying amount

At 31 August 2024

-

7,171

7,171

At 31 August 2023

-

-

-

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

6

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost

At 1 September 2023

4,750

85,191

101,244

191,185

Additions

-

67,623

810

68,433

Disposals

-

(68,115)

-

(68,115)

At 31 August 2024

4,750

84,699

102,054

191,503

Depreciation

At 1 September 2023

119

70,054

67,835

138,008

Charge for the year

475

22,032

3,224

25,731

Eliminated on disposal

-

(61,668)

-

(61,668)

At 31 August 2024

594

30,418

71,059

102,071

Carrying amount

At 31 August 2024

4,156

54,281

30,995

89,432

At 31 August 2023

4,631

15,137

33,409

53,177

7

Stocks

2024
£

2023
£

Goods in transit

-

109,516

Goods for resale

1,603,855

1,578,778

1,603,855

1,688,294

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

778,891

756,908

Amounts owed by related parties

12

14,636

10,930

Prepayments and accrued income

 

187,023

94,629

Deferred tax asset

538

1,297

Corporation tax recoverable

27,262

9,618

 

1,008,350

873,382

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

9

Creditors

2024
£

2023
£

Due within one year

Trade creditors

4,144,493

3,935,862

Taxation and social security

194,066

197,192

Accruals and deferred income

74,684

146,440

Other creditors

10,433

3,186

4,423,676

4,282,680

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

       

11

Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

60,000

60,000

Later than one year and not later than five years

240,000

240,000

Later than five years

330,000

390,000

630,000

690,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £60,000 (2023 - £60,000).

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

12

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

85,564

84,800

Summary of transactions with parent

Trigano
 

Summary of transactions with other related parties

Auto-Sleepers Group Limited
CMC Distribution France
Euro Accessoires
Gimeg Netherland BV
Grove Products (Caravan Accessories) Limited
OCS Recreatie Groothandel B.V.
Rulquin
Trigano Service

 

Income and receivables from related parties

2024

Other related parties
£

Sale of goods and services

70,240

Amounts receivable from related party

14,636

2023

Other related parties
£

Sale of goods and services

37,182

Amounts receivable from related party

10,930

 

E.T.Riddiough (Sales) Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Expenditure with and payables to related parties

2024

Parent
£

Other related parties
£

Purchase of goods and services

27,357

638,928

Leases

60,000

-

Interest on loan from parent undertaking

204,232

-

291,589

638,928

Amounts payable to related party

3,697,126

148,152

2023

Parent
£

Other related parties
£

Purchase of goods and services

27,357

468,696

Leases

60,000

-

Interest on loan from parent undertaking

144,843

-

232,200

468,696

Amounts payable to related party

3,448,242

127,257

13

Parent and ultimate parent undertaking

The company's immediate parent and ultimate parent undertaking is Trigano, incorporated in France.

  These financial statements are available upon request from Trigano, 100 Rue Petit, 75019 Paris, France or from the website www.trigano.fr.

 The ultimate controlling party is F Feuillet.