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REGISTERED NUMBER: 02677266 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Riglift (U.K.) Limited

Riglift (U.K.) Limited (Registered number: 02677266)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Riglift (U.K.) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mrs K Grant
P F Grant



SECRETARY: Mrs K Grant



REGISTERED OFFICE: Richmer Road
Erith
Kent
DA8 2HN



REGISTERED NUMBER: 02677266 (England and Wales)



ACCOUNTANTS: Richard Croucher & Co Limited
Chartered Certified Accountants
Burrs Hill Staplehurst Raod
Marden
Tonbridge
Kent
TN12 9BS



SOLICITORS: Turner & Debenhams
Ivy House
107 St Peters Street
St Albans
Hertfordshire
AL1 3EW

Riglift (U.K.) Limited (Registered number: 02677266)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,314,328 1,073,128

CURRENT ASSETS
Debtors 5 599,559 591,419
Cash at bank 43,893 59,587
643,452 651,006
CREDITORS
Amounts falling due within one year 6 428,093 496,367
NET CURRENT ASSETS 215,359 154,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,529,687

1,227,767

CREDITORS
Amounts falling due after more than one year 7 (319,638 ) (203,558 )

PROVISIONS FOR LIABILITIES (203,395 ) (106,051 )
NET ASSETS 1,006,654 918,158

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,006,554 918,058
SHAREHOLDERS' FUNDS 1,006,654 918,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Riglift (U.K.) Limited (Registered number: 02677266)

Balance Sheet - continued
30 November 2024


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 15 April 2025 and were signed on its behalf by:





Mrs K Grant - Director


Riglift (U.K.) Limited (Registered number: 02677266)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Riglift (U.K.) Limited is a private company, limited by shares , registered in England and Wales. 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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets other than freehold land are stated at cost less depreciation.

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.

Hire purchase and leasing commitments
Assets held under hire purchase or finance lease contracts are capitalised on in the Balance Sheet and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the Profit and Loss Account over the period of the agreement.

All other leases are regarded as operating leases and the payments made under them are charged to the Profit and Loss Account on a straight-line basis over the lease term.

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.

Riglift (U.K.) Limited (Registered number: 02677266)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 616,475 1,706,115 2,322,590
Additions - 391,712 391,712
Disposals - (46,000 ) (46,000 )
Reclassification/transfer - (112,294 ) (112,294 )
At 30 November 2024 616,475 1,939,533 2,556,008
DEPRECIATION
At 1 December 2023 132,401 1,117,061 1,249,462
Charge for year 6,165 144,347 150,512
Eliminated on disposal - (46,000 ) (46,000 )
Reclassification/transfer - (112,294 ) (112,294 )
At 30 November 2024 138,566 1,103,114 1,241,680
NET BOOK VALUE
At 30 November 2024 477,909 836,419 1,314,328
At 30 November 2023 484,074 589,054 1,073,128

Riglift (U.K.) Limited (Registered number: 02677266)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2023 668,257
Additions 310,031
Reclassification/transfer (292,836 )
At 30 November 2024 685,452
DEPRECIATION
At 1 December 2023 188,135
Charge for year 66,856
Reclassification/transfer (73,324 )
At 30 November 2024 181,667
NET BOOK VALUE
At 30 November 2024 503,785
At 30 November 2023 480,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 541,114 530,382
Other debtors 58,445 61,037
599,559 591,419

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 149,784 126,457
Trade creditors 97,830 103,141
Taxation and social security 162,617 248,589
Other creditors 7,862 8,180
428,093 496,367

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 10,000 20,000
Hire purchase contracts 309,638 183,558
319,638 203,558

Riglift (U.K.) Limited (Registered number: 02677266)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 459,422 310,015

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
Mrs K Grant and P F Grant
Balance outstanding at start of year 19,640 -
Amounts advanced - 19,640
Amounts repaid (19,640 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,640

The Directors repaid their loan in full on 30th April 2024.