Ranson NV UK Limited
Annual Report and Financial Statements
For the year ended 31 December 2024
Company Registration No. 03368668 (England and Wales)
Ranson NV UK Limited
Company Information
Directors
C Foreman
Ranson Group BV
Secretary
C Foreman
Company number
03368668
Registered office
Central 7 Caspian Close
Stanford-le-Hope
Essex
SS17 9FN
Auditor
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Ranson NV UK Limited
Contents
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 22
Ranson NV UK Limited
Strategic Report
For the year ended 31 December 2024
Page 1
Principal activities and review of the business

The principal activity of the company is the supply of wholesale food products.

 

2024 was another strong year for Ranson NV UK, with record performance in both revenue and gross profit. This success was driven by sustained customer demand, continued growth within our Sales team, and operational improvements across the business. While external market conditions remained affected by the lingering post-Brexit environment—particularly in relation to trade friction between the UK and EU—the company navigated these challenges effectively. The management team remained focused on cost control and margin protection, leveraging a balanced product mix, a strategically managed customer portfolio, and robust supplier relationships to maintain performance.

Please find our key financial performance indicators below:
2024
2023
2022
2021
2020
Turnover                                                   15,592,566
14,952,952
13,256,567
12,678,967
7,110,445
Turnover growth                                             4.28%
12.80%
4.55%
78.31%
(27.70%)
Gross profit %                                                24.02%
21.61%
21.94%
18.91%
16.17%
Profit/ (Loss) before tax                                780,122
326,353
313,291
613,320
(221,046)
Net profit/(loss) %                                            5.00%
2.18%
2.36%
4.84%
(3.10%)
Principal risks and uncertainties

The principal risks and uncertainties faced by the company are typical of businesses of a similar size and nature. The company is exposed to the usual credit and cash flow risks associated with trading on credit terms. To mitigate these, strong internal credit control procedures have been implemented.

 

Despite these measures—and the fact that our accounts receivable are fully covered by a credit insurance agreement—the company has experienced instances where customers have ceased or suspended trading. This has adversely impacted trade debtors and increased the risk of bad debt. However, the combination of robust credit controls and effective collaboration with our credit insurer has significantly reduced the financial impact of these occurrences during the reporting period.

Financial risk management objectives and policies

The business' principal financial instruments include bank balances, trade debtors, trade creditors, and finance lease agreements, all of which are primarily used to support operational financing. Since the end of 2019, the company has been free of external loans, allowing cash flow to be directed mainly toward the settlement of supplier invoices. The intercompany balance with Ranson Belgium has increased during this period, primarily due to the strategic investment in our new state-of-the-art warehouse facility.

 

The company aims to continue strengthening its balance sheet to secure a stable and lasting presence in the UK market. Liquidity risk is managed through established policies that govern both the credit extended to customers and the payments due to suppliers. Internal controls and procedures are in place to ensure that all outstanding amounts are monitored and settled within the agreed payment terms.

 

The company continues to receive support from its fellow Belgian subsidiary.

Ranson NV UK Limited
Strategic Report (Continued)
For the year ended 31 December 2024
Page 2
Future developments

We are confident that the investments in both people and assets over the last few years will enable us to meet and exceed customers’ expectations over the long term. Ranson NV UK supplies a diverse range of customers in terms of size and location. An effective sales team joining hands with an enthusiastic warehouse force and distribution operation, combined with strong internal administration, will allow us to service the demand from existing customers while simultaneously attract new customers. But uncertainty also creates opportunity. Brexit and Covid have exposed many businesses to challenging times, but we are now also faced with enquiries from people unable or unwilling to import from Europe.

 

In 2024, a significant milestone was achieved with our successful relocation to a new state-of-the-art warehouse facility. This modern and expanded site greatly enhances our storage capacity, streamlines our logistics operations, and provides a stronger infrastructure to support our growth ambitions. The warehouse is equipped with advanced systems designed to improve inventory management, reduce handling times, and support future automation and scalability.

 

While growth and expansion always carry an element of risk, with the dedication to the UK we feel from Ranson Group, this risk seems minimal as we know that the potential in the UK is extremely large and yet to be fully explored. With our new warehouse in place, we are now in a significantly stronger position to increase the capacity of what we can store and deliver to tap into the potential—and we are still very much scratching the surface in all areas of our market.

 

We are very excited about the short- and long-term future for Ranson NV UK. If we can expand our capacity and, following a restructure of the business and recruiting more specialized reps in the Sales team, we will be able to apply significantly more focus in the top-level strategies in purchasing and sales with a clear focus in the three main business sectors that we supply (Industry, Artisan and Wholesalers). This focus at both levels will significantly improve our opportunities and ability to tap into the huge potential that the UK undoubtedly offers.

 

We will also increase our focus on our procurement and marketing, concentrating on improving links to management between Ranson UK and Ranson Group in Belgium, and this should yield significant benefits in both areas. Creating more opportunities and further squeezing the maximum out of each of them.

On behalf of the board

Authorised signatory of
Ranson Group BV
Director
5 June 2025
Ranson NV UK Limited
Directors' Report
For the year ended 31 December 2024
Page 3

The directors present their annual report and financial statements for the year ended 31 December 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

C Foreman
Ranson Group BV
Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £195,031 (2023: £81,588). The directors do not recommend payment of a further dividend.

Research and development

The company does not undertake any research and development activities.

Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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:

 

 

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.

Matters included in the strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial risk management and future developments.

Ranson NV UK Limited
Directors' Report (Continued)
For the year ended 31 December 2024
Page 4
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Ranson Group BV
Director
5 June 2025
Ranson NV UK Limited
Independent Auditor's Report
To the Members of Ranson NV UK Limited
Page 5
Opinion

We have audited the financial statements of Ranson NV UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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's 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 opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual 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.

 

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.

 

We have nothing to report in this regard.

Ranson NV UK Limited
Independent Auditor's Report (Continued)
To the Members of Ranson NV UK Limited
Page 6

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

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 or the Directors' Report.

 

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:

 

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement, 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 is 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.

Auditor's 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 an auditor's report 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.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

 

Ranson NV UK Limited
Independent Auditor's Report (Continued)
To the Members of Ranson NV UK Limited
Page 7

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

 

 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

Ranson NV UK Limited
Independent Auditor's Report (Continued)
To the Members of Ranson NV UK Limited
Page 8

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 an auditor's report 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.

Paul Springfield
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
10 June 2025
Chartered Accountants
Statutory Auditor
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Ranson NV UK Limited
Statement of Comprehensive Income
For the year ended 31 December 2024
Page 9
2024
2023
Notes
£
£
Turnover
3
15,592,566
14,952,952
Cost of sales
(11,847,185)
(11,720,978)
Gross profit
3,745,381
3,231,974
Distribution costs
(266,864)
(299,274)
Administrative expenses
(2,950,895)
(2,606,347)
Other operating income
4
252,500
-
0
Profit before taxation
780,122
326,353
Tax on profit
8
(196,701)
(81,174)
Profit for the financial year
583,421
245,179

The profit and loss account has been prepared on the basis that all operations are continuing operations.

 

There are no recognised gains and losses other than those passing though the profit and loss account.

Ranson NV UK Limited
Balance Sheet
As at 31 December 2024
Page 10
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
2,304,068
1,250,759
Current assets
Stock
11
1,795,086
1,347,290
Debtors
12
4,567,697
2,306,220
Cash at bank and in hand
1,562,949
700,318
7,925,732
4,353,828
Creditors: amounts falling due within one year
13
(6,952,410)
(2,912,288)
Net current assets
973,322
1,441,540
Total assets less current liabilities
3,277,390
2,692,299
Provisions for liabilities
15
(206,511)
(9,810)
Net assets
3,070,879
2,682,489
Capital and reserves
Called up share capital
16
100
100
Capital redemption reserve
390,000
390,000
Profit and loss reserves
2,680,779
2,292,389
Total equity
3,070,879
2,682,489
The financial statements were approved by the board of directors and authorised for issue on 5 June 2025 and are signed on its behalf by:
Authorised signatory of
Ranson Group BV
Director
Company Registration No. 03368668
Ranson NV UK Limited
Statement of Changes in Equity
For the year ended 31 December 2024
Page 11
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
100
390,000
2,128,798
2,518,898
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
245,179
245,179
Dividends
9
-
-
(81,588)
(81,588)
Balance at 31 December 2023
100
390,000
2,292,389
2,682,489
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
583,421
583,421
Dividends
9
-
-
(195,031)
(195,031)
Balance at 31 December 2024
100
390,000
2,680,779
3,070,879
Ranson NV UK Limited
Statement of Cash Flows
For the year ended 31 December 2024
Page 12
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
1,312,968
576,229
Income taxes paid
(84,477)
(54,663)
Net cash inflow from operating activities
1,228,491
521,566
Investing activities
Purchase of tangible fixed assets
(379,824)
-
0
Proceeds from disposal of tangible fixed assets
13,964
7,000
Net cash (used in)/generated from investing activities
(365,860)
7,000
Financing activities
Dividends paid
-
(81,588)
Net cash used in financing activities
-
(81,588)
Net increase in cash and cash equivalents
862,631
446,978
Cash and cash equivalents at beginning of year
700,318
253,340
Cash and cash equivalents at end of year
1,562,949
700,318
Ranson NV UK Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 13
1
Accounting policies
Company information

Ranson NV UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Central 7 Caspian Close, Stanford-le-Hope, Essex, SS17 9FN.

1.1
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.

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 pound.

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

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Ranson NV UK is part of Ranson Group, which is in turn wholly active in the food business, supplying ingredients to the bakery sector (both artisan and industry) in various countries, mainly in Western Europe.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the sale of wholesale food products in the normal course of business, net of discounts, VAT and other sales related taxes.

 

Revenue from the sale of wholesale food products is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer on delivery of the goods.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Long leasehold land & buildings
50 years straight line
Leasehold improvements
Over life of lease
Plant and machinery
25% Straight line
Computer equipment
25% Straight line
Motor vehicles
25% 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.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 14
1.5
Stock

Stock are stated at the lower of cost and net realisable value. The directors review expiry dates of wholesale food products held as stock to minimise the need for provisions due to wastage.

Net realisable value is the estimated selling price less estimated costs of completion and costs to be incurred in marketing, sell and distribution.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions 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 there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 15
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
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.

1.9
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 profit and loss account 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 profit and loss account, 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.

1.10
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.

1.11
Retirement benefits

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

1.12
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.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 16
1.13
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.

Critical judgements

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying value of the tangible fixed assets and policy 1.4 for the depreciation rates applied for each class of asset.

3
Turnover

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Sale of goods
15,592,566
14,952,952
2024
2023
£
£
Turnover analysed by geographical market
Sales - UK
15,517,755
14,004,491
Sales - Europe
74,811
948,461
15,592,566
14,952,952
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 17
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
5,668
11,358
Depreciation of owned tangible fixed assets
58,680
39,875
Profit on disposal of tangible fixed assets
(13,964)
(7,000)
Operating lease charges
268,510
234,702
Included within other operating income is a £252,500 fee received from a third party, granting them an option to acquire the freehold land and building owned by the company. This option has been triggered after the balance sheet date, as disclosed in note 20.
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
25,170
23,700
For other services
All other non-audit services
9,325
5,110
6
Employees

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

2024
2023
Number
Number
Warehouse and distribution
13
15
Sales and administration
12
12
Total
25
27

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,094,474
990,586
Social security costs
96,096
90,841
Pension costs
33,323
28,156
1,223,893
1,109,583
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 18
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
180,947
102,405
Company pension contributions to defined contribution schemes
3,294
3,430
184,241
105,835
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
84,477
Deferred tax
Origination and reversal of timing differences
196,701
(3,303)
Total tax charge
196,701
81,174

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
780,122
326,353
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
195,031
81,588
Tax effect of expenses that are not deductible in determining taxable profit
1,670
531
Capital allowances in excess of depreciation
-
0
4,368
Changes in rate of taxation
-
0
(5,313)
Tax charge for the year
196,701
81,174

 

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 19
9
Dividends
2024
2023
£
£
Final paid
195,031
81,588
10
Tangible fixed assets
Long leasehold land & buildings
Leasehold improvements
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
1,545,966
-
0
84,087
127,256
1,757,309
Additions
-
0
843,945
268,044
-
0
1,111,989
Disposals
-
0
-
0
-
0
(23,896)
(23,896)
At 31 December 2024
1,545,966
843,945
352,131
103,360
2,845,402
Depreciation and impairment
At 1 January 2024
344,425
-
0
84,087
78,038
506,550
Depreciation charged in the year
17,473
11,523
9,472
20,212
58,680
Eliminated in respect of disposals
-
0
-
0
-
0
(23,896)
(23,896)
At 31 December 2024
361,898
11,523
93,559
74,354
541,334
Carrying amount
At 31 December 2024
1,184,068
832,422
258,572
29,006
2,304,068
At 31 December 2023
1,201,541
-
0
-
49,218
1,250,759
11
Stock
2024
2023
£
£
Finished goods and goods for resale
1,795,086
1,347,290
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 20
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,973,640
1,955,453
Other debtors
1,594,057
332,797
Prepayments and accrued income
-
0
17,970
4,567,697
2,306,220
13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,712,883
1,878,522
Amounts due to fellow group undertakings
3,173,332
840,893
Corporation tax
-
0
84,477
Other taxation and social security
22,312
25,222
Other creditors
20,533
4,101
Accruals and deferred income
1,023,350
79,073
6,952,410
2,912,288
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
241,710
9,810
Tax losses
(35,199)
-
206,511
9,810
2024
Movements in the year:
£
Liability at 1 January 2024
9,810
Charge to profit or loss
196,701
Liability at 31 December 2024
206,511
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 21
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
33,323
28,156

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
17
Financial commitments, guarantees and contingent liabilities

National Westminster Bank plc has fixed and floating charges over all assets of the business.

18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
268,510
222,024
Between two and five years
2,825,610
445,428
In over five years
6,243,941
276,250
9,338,061
943,702
19
Related party transactions

The Company has taken exemption under FRS 102 section 33.1A from disclosing transactions with group companies, on the grounds that each company party to the transactions is wholly owned within the group.

20
Events after the reporting date

In January 2025 the freehold land and building owned by the company and recognised within fixed assets has been sold to a third party.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 22
21
Ultimate controlling party

The immediate controlling company is Ranson Group BV, a company registered in Belgium.

22
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
583,421
245,179
Adjustments for:
Taxation charged
196,701
81,174
Gain on disposal of tangible fixed assets
(13,964)
(7,000)
Depreciation and impairment of tangible fixed assets
58,680
39,875
Movements in working capital:
(Increase)/decrease in stock
(447,796)
484,597
Increase in debtors
(2,261,477)
(157,225)
Increase/(decrease) in creditors
3,197,403
(110,371)
Cash generated from operations
1,312,968
576,229
23
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
700,318
862,631
1,562,949
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