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REGISTERED NUMBER: 00694043 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 January 2025

for

D.B. Ramsden & Company Limited

D.B. Ramsden & Company Limited (Registered number: 00694043)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


D.B. Ramsden & Company Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: N R Ramsden





SECRETARY: Mrs L J Metcalf





REGISTERED OFFICE: Adam Smith Street
Grimsby
North East Lincs
DN31 1SJ





REGISTERED NUMBER: 00694043 (England and Wales)





AUDITORS: Xeinadin Audit Limited
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

D.B. Ramsden & Company Limited (Registered number: 00694043)

Strategic Report
for the Year Ended 31 January 2025

The director presents his strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS
Despite a period marked by significant political uncertainty both domestically and internationally, the company continued to trade robustly.

Total sales for the year reached £59.4 million, representing an 11.2% decline compared to the previous year. This reduction was primarily driven by a fall in tobacco sales due to challenging market conditions.

Proactive management of supplier and customer relationships contributed to an improvement in gross margins, which increased from 10.04% to 10.5%. In parallel, operating costs were successfully reduced by 3.52%.

As a result, pre-tax profit (excluding exceptional items) declined modestly by 3.5% from £1,337,326 to £1,233,684.

PRINCIPAL RISKS AND UNCERTAINTIES
The company is exposed to a variety of financial, commercial, and operational risks. These risks are regularly assessed by the Senior Management Team (SMT) and limited where possible as part of the company's controls.

The wholesale sector remains highly competitive, with increasing pressure from large grocery multiples affecting prices and margins.

The rise in input costs and inflation, particularly future increases to the national living wage and employer national insurance will bring costs pressure to the business and inflationary pressure to our supply chain.

The SMT ensures it constantly reviews its cost base to enable it to remain price competitive.

The risk of customer attrition is mitigated by delivering exceptional service and maintaining high product availability.

To ensure continuity of supply the SMT actively engages with suppliers identifying and resolving issues as they arise, the potential loss of support from suppliers is seen as a key risk.

To ensure sufficient liquidity is available to manage the company's activities a stringent credit policy is applied to trade debtors.

KEY PERFORMANCE INDICATORS
The SMT are all focused on the KPI's of the business and believe that monitoring them provides an effective way to review business performance.

Financial KPI's are:
- Sales
- Gross Profit
- Operating Costs
- Operating Profit
- Stock levels
- Debtor days
- Product availability

Non-financial KPI's are:
- Staff retention
- Customer satisfaction
- Supplier satisfaction
- Health & safety performance


D.B. Ramsden & Company Limited (Registered number: 00694043)

Strategic Report
for the Year Ended 31 January 2025

STRATEGY
Key to our future strategy is to continue to provide and maintain a high level of customer service and improving customer loyalty. Understanding the pressures on the independent retailer, we aim to provide improved service, support and value.

Investing in new technologies and delivery channels will assist our customers in retaining their competitiveness.

We continue to look for new market opportunities that will generate sustainable growth.

To continue to invest in our people and systems and to continually review operations and costs.

FUTURE DEVELOPMENTS
As technology is constantly evolving the company is focusing on improving our digital platforms, enhancing our online operations for both retailers and on-trade establishments.

Focus will continue to be given to developing new customer relationships and incentivising efficient and loyal trading relationships with existing customers.

ON BEHALF OF THE BOARD:





N R Ramsden - Director


14 July 2025

D.B. Ramsden & Company Limited (Registered number: 00694043)

Report of the Director
for the Year Ended 31 January 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a wholesale merchant of consumer goods including foods, alcohol, tobacco products and household goods.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2025 was £455,000 (2024: £2,087,800)

DIRECTORS
N R Ramsden has held office during the whole of the period from 1 February 2024 to the date of this report.

Other changes in directors holding office are as follows:

D B Ramsden - resigned 2 March 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N R Ramsden - Director


14 July 2025

Report of the Independent Auditors to the Members of
D.B. Ramsden & Company Limited

Opinion
We have audited the financial statements of D.B. Ramsden & Company Limited (the 'company') for the year ended 31 January 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:
-give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
D.B. Ramsden & Company Limited


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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
D.B. Ramsden & Company Limited


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Through discussion with management and those charged with governance we gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, and considered the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. During the engagement team briefing we communicated the identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, UK GAAP (FRS102), the Companies Act 2006, tax legislations and industry specific legislation such as the Consumer Rights Act 2015. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We evaluated management's incentives and opportunities for fraudulent manipulations of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates.

Audit procedures undertaken in response to the potential risk relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of:
- enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations;
- enquiries with the same concerning any actual or potential litigation claims;
- reviewed risk of management override;
- reviewed journal entries posted with unusual account combinations;
- reviewed accounting estimates for bias;
- performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud;
- agreeing financial statement disclosures to underlying supporting documentation.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
D.B. Ramsden & Company Limited


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 a Report of the Auditors 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.




Jennifer Toulson FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

14 July 2025

D.B. Ramsden & Company Limited (Registered number: 00694043)

Income Statement
for the Year Ended 31 January 2025

31.1.25 31.1.24
Notes £    £   

TURNOVER 59,430,741 66,105,862

Cost of sales 53,173,722 59,470,421
GROSS PROFIT 6,257,019 6,635,441

Administrative expenses 5,207,106 5,614,870
1,049,913 1,020,571

Other operating income 232,564 259,597
Gain/(loss) on revaluation of
investments 29,135 -
OPERATING PROFIT 4 1,311,612 1,280,168

Exceptional items 5 - 1,024,465
1,311,612 2,304,633

Interest receivable and similar income 13,085 61,684
1,324,697 2,366,317

Interest payable and similar expenses 6 3,522 4,526
PROFIT BEFORE TAXATION 1,321,175 2,361,791

Tax on profit 7 289,375 329,851
PROFIT FOR THE FINANCIAL YEAR 1,031,800 2,031,940

D.B. Ramsden & Company Limited (Registered number: 00694043)

Other Comprehensive Income
for the Year Ended 31 January 2025

31.1.25 31.1.24
Notes £    £   

PROFIT FOR THE YEAR 1,031,800 2,031,940


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,031,800

2,031,940

D.B. Ramsden & Company Limited (Registered number: 00694043)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 289,819 476,037
Tangible assets 10 252,816 241,635
Investments 11 102,440 73,305
645,075 790,977

CURRENT ASSETS
Stocks 12 3,602,171 3,574,712
Debtors 13 8,905,165 9,052,391
Cash at bank and in hand 508,223 16,530
13,015,559 12,643,633
CREDITORS
Amounts falling due within one year 14 5,968,522 6,318,556
NET CURRENT ASSETS 7,047,037 6,325,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,692,112

7,116,054

CREDITORS
Amounts falling due after more than one
year

15

(10,610

)

(31,716

)

PROVISIONS FOR LIABILITIES 19 (107,763 ) (87,399 )
NET ASSETS 7,573,739 6,996,939

CAPITAL AND RESERVES
Called up share capital 20 6,000 6,000
Retained earnings 21 7,567,739 6,990,939
SHAREHOLDERS' FUNDS 7,573,739 6,996,939

The financial statements were approved by the director and authorised for issue on 14 July 2025 and were signed by:





N R Ramsden - Director


D.B. Ramsden & Company Limited (Registered number: 00694043)

Statement of Changes in Equity
for the Year Ended 31 January 2025

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2023 6,000 6,882,425 164,374 7,052,799

Changes in equity
Dividends - (2,087,800 ) - (2,087,800 )
Total comprehensive income - 2,196,314 (164,374 ) 2,031,940
Balance at 31 January 2024 6,000 6,990,939 - 6,996,939

Changes in equity
Dividends - (455,000 ) - (455,000 )
Total comprehensive income - 1,031,800 - 1,031,800
Balance at 31 January 2025 6,000 7,567,739 - 7,573,739

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

D.B. Ramsden & Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of D B Ramsden Holdings Limited as at 31 January 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Significant judgements and estimates
In preparing these financial statements, the directors have had to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances the results of which form the basis of making the judgements about carrying values of assets and liabilities. Actual results may differ from these estimates.

The more significant judgements, estimates and assumptions are:

-Useful lives of property, plant and equipment
Depreciation is provided so as to write down the assets to their residual values over their estimated useful lives as set out in the company's accounting policy. The selection of these estimated lives requires the exercise of management judgement. Useful lives are regularly reviewed and should management's assessment of useful lives shorten, then depreciation charges in the financial statements would increase and carrying amounts of property, plant and equipment would reduce accordingly.

-Trade debtors
At each reporting date, trade debtors are assessed for recoverability. If there is any evidence of impairment, the carrying amount is reduced to its recoverable amount. The impairment loss is recognised immediately in the income statement.

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer.
- the Company retains neither the continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.
- the amount of revenue can be measured reliably.
- it is probable that the Company will receive the consideration due under the transaction.
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Development costs are being amortised on a straight line basis at rates of 16.67% and 45%.

Computer software is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery-at varying rates on cost
Fixtures and fittings-at varying rates on cost
Motor vehicles-25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Goods for resale are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stocks. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, finished goods and goods for resale are assessed for impairment. If goods for resale are impaired, the carrying amounts are reduced to selling price less costs to complete and sell. The impairment loss is recognised immediately to the income statement.

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not market rate or in the case of an out-right short-term loan not at market rate the financial assets or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised at the end of each reporting period are assessed for objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to readies the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises of 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.

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'other operating income'.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Finance costs
Finance costs are charged to the income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Exceptional costs
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured at transaction price unless they are not charged at a commercial rate of interest, in which case they are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty of notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured at transaction price unless they are not charged at a commercial rate of interest, in which case they are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Operating leases: the company as lessee
Rentals paid under the operating leases are charged to the income statement on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

3. EMPLOYEES AND DIRECTORS
31.1.25 31.1.24
£    £   
Wages and salaries 2,376,071 2,471,044
Social security costs 278,342 292,415
Other pension costs 72,923 118,615
2,727,336 2,882,074

The average number of employees during the year was as follows:
31.1.25 31.1.24

Office and management 31 31
Sales and distribution 87 104
118 135

31.1.25 31.1.24
£    £   
Directors' remuneration 12,424 12,424

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.1.25 31.1.24
£    £   
Other operating leases 357,321 272,654
Depreciation - owned assets 74,306 113,832
Depreciation - assets on hire purchase contracts 31,924 30,110
Profit on disposal of fixed assets (203,784 ) (67,498 )
Goodwill amortisation - 39,500
Development costs amortisation 18,043 -
Computer software amortisation 60,339 51,117
Auditors' remuneration 20,030 19,185
Auditors' remuneration for non audit work 9,614 10,634

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

5. EXCEPTIONAL ITEMS
31.1.25 31.1.24
£    £   
Exceptional items - 1,024,465

Exceptional items in the current year relate to the refund of rates relating to the properties sold during the prior year.

Exceptional items in the prior year relate to the profit on the disposal of various properties and their associated costs to a related party. The related party is a company under the same common control.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.1.25 31.1.24
£    £   
Hire purchase 3,522 4,526

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.25 31.1.24
£    £   
Current tax:
UK corporation tax 269,011 345,117

Deferred tax 20,364 (15,266 )
Tax on profit 289,375 329,851

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.1.25 31.1.24
£    £   
Profit before tax 1,321,175 2,361,791
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

330,294

590,448

Effects of:
Expenses not deductible for tax purposes 9,320 18,380
Capital allowances in excess of depreciation (32,293 ) -
Depreciation in excess of capital allowances - 31,821
Profit & loss on sale of land and buildings - (318,441 )
Tax rate differences - 7,643
Correction of prior year provision 1,094 -
Revaluation of shares (7,284 ) -
Loss on goodwill taxable (11,756 ) -
Total tax charge 289,375 329,851

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. DIVIDENDS
31.1.25 31.1.24
£    £   
Interim 455,000 2,087,800

9. INTANGIBLE FIXED ASSETS
Development Computer
Goodwill costs software Totals
£    £    £    £   
COST
At 1 February 2024 395,000 - 339,510 734,510
Additions - 69,182 41,232 110,414
Disposals (395,000 ) - - (395,000 )
At 31 January 2025 - 69,182 380,742 449,924
AMORTISATION
At 1 February 2024 176,750 - 81,723 258,473
Amortisation for year - 18,043 60,339 78,382
Eliminated on disposal (176,750 ) - - (176,750 )
At 31 January 2025 - 18,043 142,062 160,105
NET BOOK VALUE
At 31 January 2025 - 51,139 238,680 289,819
At 31 January 2024 218,250 - 257,787 476,037

10. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2024 1,139 199,674 1,006,950 24,665 1,232,428
Additions - 4,745 108,303 10,500 123,548
Disposals (1,139 ) (55,850 ) (111,975 ) (9,920 ) (178,884 )
At 31 January 2025 - 148,569 1,003,278 25,245 1,177,092
DEPRECIATION
At 1 February 2024 550 119,180 858,591 12,472 990,793
Charge for year 10 20,915 78,798 6,507 106,230
Eliminated on disposal (560 ) (55,850 ) (106,830 ) (9,507 ) (172,747 )
At 31 January 2025 - 84,245 830,559 9,472 924,276
NET BOOK VALUE
At 31 January 2025 - 64,324 172,719 15,773 252,816
At 31 January 2024 589 80,494 148,359 12,193 241,635

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

10. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2024 103,688 73,212 176,900
Transfer to ownership - (73,212 ) (73,212 )
At 31 January 2025 103,688 - 103,688
DEPRECIATION
At 1 February 2024 33,230 30,505 63,735
Charge for year 17,281 14,643 31,924
Transfer to ownership - (45,148 ) (45,148 )
At 31 January 2025 50,511 - 50,511
NET BOOK VALUE
At 31 January 2025 53,177 - 53,177
At 31 January 2024 70,458 42,707 113,165

11. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 February 2024 1 73,304 73,305
Additions - 29,135 29,135
At 31 January 2025 1 102,439 102,440
NET BOOK VALUE
At 31 January 2025 1 102,439 102,440
At 31 January 2024 1 73,304 73,305

Cost or valuation at 31 January 2025 is represented by:

Shares in
group Unlisted
undertakings investments Totals
£    £    £   
Valuation in 2019 - 10,565 10,565
Valuation in 2024 - 29,135 29,135
Cost 1 62,739 62,740
1 102,439 102,440

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

11. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Re-Scan Limited
Registered office: Adam Smith Street, Grimsby, N E Lincolnshire
Nature of business: Supply and maintenance of EPOS systems
%
Class of shares: holding
Ordinary 76.00
31.1.25 31.1.24
£    £   
Aggregate capital and reserves 362,281 285,977
Profit for the year 76,304 53,962

12. STOCKS
31.1.25 31.1.24
£    £   
Stocks 3,602,171 3,574,712

13. DEBTORS
31.1.25 31.1.24
£    £   
Amounts falling due within one year:
Trade debtors 1,790,434 1,777,921
Amounts owed by group undertakings 518,220 170,629
Other debtors 1,592,414 1,729,627
Prepayments 36,349 84,803
3,937,417 3,762,980

Amounts falling due after more than one year:
Other debtors 4,967,748 5,289,411

Aggregate amounts 8,905,165 9,052,391

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts (see note 16) - 371,247
Hire purchase contracts (see note 17) 19,758 40,095
Trade creditors 4,397,668 4,247,967
Amounts owed to group undertakings 320,000 -
Corporation tax 268,074 345,235
Social security and other taxes 60,277 67,243
VAT 319,803 243,827
Other creditors 297,591 582,250
Accrued expenses 285,351 420,692
5,968,522 6,318,556

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.25 31.1.24
£    £   
Hire purchase contracts (see note 17) 10,610 31,716

16. LOANS

An analysis of the maturity of loans is given below:

31.1.25 31.1.24
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 371,247

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.25 31.1.24
£    £   
Net obligations repayable:
Within one year 19,758 40,095
Between one and five years 10,610 31,716
30,368 71,811

Non-cancellable operating leases
31.1.25 31.1.24
£    £   
Within one year 22,654 50,348
Between one and five years - 22,654
22,654 73,002

18. SECURED DEBTS

The following secured debts are included within creditors:

31.1.25 31.1.24
£    £   
Bank overdraft - 371,247
Hire purchase contracts 30,368 71,811
30,368 443,058

Bank loans and overdrafts are secured by way of a floating charge on the Company's assets and fixed charges on its freehold land and its leasehold property and over all its book debts. The bank also holds an unlimited Multilateral Guarantee between D B Ramsden & Company Limited, Ron Ramsdens Limited, George Street Builders Limited and Re-Scan Limited dated 3 January 2013, as approved by the board on 6 March 2013.

Net obligations under hire purchase contracts are secured on the assets being acquired.

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

19. PROVISIONS FOR LIABILITIES
31.1.25 31.1.24
£    £   
Deferred tax 107,763 87,399

Deferred
tax
£   
Balance at 1 February 2024 87,399
Provided during year 20,364
Balance at 31 January 2025 107,763

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
6,000 Ordinary £1 6,000 6,000

Called up share capital represents the nominal value of the shares issued.

21. RESERVES
Retained
earnings
£   

At 1 February 2024 6,990,939
Profit for the year 1,031,800
Dividends (455,000 )
At 31 January 2025 7,567,739

The company's reserves are as follows:

Retained earnings
Retained earnings represents cumulative profits or losses, net of dividends paid and other adjustments.

22. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £72,923 (2024: £118,615). Contributions totalling £14,625 (2024: £18,183) were payable to the fund at the reporting date and are included in creditors.

23. CONTINGENT LIABILITIES

The bank holds an unlimited Multilateral Guarantee between D B Ramsden & Company Limited, Ron Ramsdens Limited, George Street Builders Limited and Re-Scan Limited dated 3 January 2013, as approved by the board 6 March 2013.

At the balance sheet date the total of the contingent liability under the guarantee was £Nil (2024: £1,659,373).

D.B. Ramsden & Company Limited (Registered number: 00694043)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

24. RELATED PARTY DISCLOSURES

During the year the company had the following related party transactions:

31.1.25 31.1.24
£ £
Sales and other income 1,385,415 5,679,399
Purchases 405,275 767,894
Amounts owed to 360,665 2,486
Amounts owed from 6,301,453 5,689,074

The related parties are companies of which Mr N Ramsden is also a director.

Included within trade creditors are balances owing to Imperial Tobacco Limited and Gallagher Limited of £426,845 (2024: £566,644) and £373,781 (2024: £571,979) respectively. These suppliers hold a guarantee which has been signed personally by the director of the parent company.

Management do not consider there to be any key management personnel other than the directors. See note 3 for the directors' remuneration for the year.

25. ULTIMATE CONTROLLING PARTY

The company is controlled by its parent company, D B Ramsden Holdings Limited and the ultimate controlling party is N R Ramsden as he owns all of the issued share capital in D B Ramsden Holdings Limited which is the ultimate parent company.