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REGISTERED NUMBER: NI050112 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Riddles Bros Limited

Riddles Bros Limited (Registered number: NI050112)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Riddles Bros Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: David Riddles
Robert Riddles





SECRETARY: Robert Riddles





REGISTERED OFFICE: 34 Lupin Avenue
Donemana
Strabane
Co. Tyrone
BT82 0PG





REGISTERED NUMBER: NI050112 (Northern Ireland)





ACCOUNTANTS: Shaun McAteer & Co. Ltd
5 Northland Road, Derry
BT48 7HX

Riddles Bros Limited (Registered number: NI050112)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 457,806 445,901
Tangible assets 5 2,225,951 3,010,559
2,683,757 3,456,460

CURRENT ASSETS
Stocks 931,289 381,328
Debtors 6 315,302 320,152
Cash at bank and in hand 2,806 19,137
1,249,397 720,617
CREDITORS
Amounts falling due within one year 7 1,655,062 1,665,096
NET CURRENT LIABILITIES (405,665 ) (944,479 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,278,092

2,511,981

CREDITORS
Amounts falling due after more than one
year

8

(453,529

)

(638,502

)

PROVISIONS FOR LIABILITIES (481,174 ) (474,316 )
NET ASSETS 1,343,389 1,399,163

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,343,387 1,399,161
SHAREHOLDERS' FUNDS 1,343,389 1,399,163

Riddles Bros Limited (Registered number: NI050112)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





Robert Riddles - Director


Riddles Bros Limited (Registered number: NI050112)

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

1. STATUTORY INFORMATION

Riddles Bros Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Planning costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
All tangible fixed assets are initially recorded at historic cost.

Depreciation
Depreciation is provided on all tangible fixed assets, other than freehold land and investment properties, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset systematically over its expected useful life, as follows:

Portacabins - straight-line over 10 years
Leased assets - 25% reducing balance
Static plant and machinery - 5% reducing balance
Other plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Riddles Bros Limited (Registered number: NI050112)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

Riddles Bros Limited (Registered number: NI050112)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 150,000 445,901 595,901
Additions - 11,905 11,905
At 31 March 2024 150,000 457,806 607,806
AMORTISATION
At 1 April 2023
and 31 March 2024 150,000 - 150,000
NET BOOK VALUE
At 31 March 2024 - 457,806 457,806
At 31 March 2023 - 445,901 445,901

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 54,000 5,413,656 5,467,656
Additions 912 113,397 114,309
Disposals - (1,355,423 ) (1,355,423 )
At 31 March 2024 54,912 4,171,630 4,226,542
DEPRECIATION
At 1 April 2023 - 2,457,097 2,457,097
Charge for year - 184,307 184,307
Eliminated on disposal - (640,813 ) (640,813 )
At 31 March 2024 - 2,000,591 2,000,591
NET BOOK VALUE
At 31 March 2024 54,912 2,171,039 2,225,951
At 31 March 2023 54,000 2,956,559 3,010,559

Riddles Bros Limited (Registered number: NI050112)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 310,366 320,152
Other debtors 4,936 -
315,302 320,152

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 346,576 427,005
Hire purchase contracts 216,847 364,618
Trade creditors 167,219 364,595
Taxation and social security 907,264 453,193
Other creditors 17,156 55,685
1,655,062 1,665,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,439 22,388
Hire purchase contracts 441,090 616,114
453,529 638,502

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 336,576 417,005

The company's bank overdrafts totalling £336,576 (2023 - £417,005) are secured by way of debenture comprising fixed and floating charges over all assets of Riddles Bros Limited.

A directors' guarantee of £500,000 is also provided supported by a legal charge over lands held by the directors personally.