Registration number:
E.T.Riddiough (Sales) Limited
for the Year Ended 31 August 2024
E.T.Riddiough (Sales) Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
E.T.Riddiough (Sales) Limited
Company Information
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Directors |
H Combarnous M Freiche S Gigou |
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Company secretary |
M Freiche |
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Registered office |
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Auditors |
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E.T.Riddiough (Sales) Limited
(Registration number: 04332273)
Balance Sheet as at 31 August 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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- |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
20,000 |
20,000 |
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Retained earnings |
(1,036,302) |
(970,952) |
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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
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E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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
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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
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:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
Over 10 years straight line basis |
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Motor vehicles |
Over 5 years straight line basis |
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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:
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Asset class |
Amortisation method and rate |
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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
E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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Intangible assets |
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Goodwill |
Website |
Total |
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Cost or valuation |
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At 1 September 2023 |
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- |
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Additions |
- |
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At 31 August 2024 |
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Amortisation |
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At 1 September 2023 |
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- |
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Amortisation charge |
- |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
- |
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At 31 August 2023 |
- |
- |
- |
E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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Tangible assets |
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Fixtures and fittings |
Motor vehicles |
Plant and equipment |
Total |
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Cost |
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At 1 September 2023 |
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Additions |
- |
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Disposals |
- |
( |
- |
( |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Stocks |
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2024 |
2023 |
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Goods in transit |
- |
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Goods for resale |
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Debtors |
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Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments and accrued income |
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Deferred tax asset |
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Corporation tax recoverable |
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E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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Creditors |
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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20,000 |
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20,000 |
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Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
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Related party transactions |
Key management compensation
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2024 |
2023 |
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Salaries and other short term employee benefits |
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Summary of transactions with parent
Summary of transactions with other related parties
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
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2024 |
Other related parties |
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Sale of goods and services |
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Amounts receivable from related party |
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2023 |
Other related parties |
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Sale of goods and services |
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Amounts receivable from related party |
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E.T.Riddiough (Sales) Limited
Notes to the Financial Statements for the Year Ended 31 August 2024
Expenditure with and payables to related parties
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2024 |
Parent |
Other related parties |
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Purchase of goods and services |
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Leases |
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- |
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Interest on loan from parent undertaking |
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- |
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Amounts payable to related party |
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2023 |
Parent |
Other related parties |
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Purchase of goods and services |
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Leases |
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- |
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Interest on loan from parent undertaking |
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- |
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Amounts payable to related party |
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Parent and ultimate parent undertaking |
The company's immediate parent and ultimate parent undertaking is
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