Registered number
07848406
Rivet & Hide Limited
Filleted Accounts
30 November 2024
Rivet & Hide Limited
Registered number: 07848406
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,369 6,369
Tangible assets 4 317,400 50,729
323,769 57,098
Current assets
Stocks 920,000 770,000
Debtors 5 101,407 66,755
Cash at bank and in hand 39,100 48,455
1,060,507 885,210
Creditors: amounts falling due within one year 6 (435,158) (337,627)
Net current assets 625,349 547,583
Total assets less current liabilities 949,118 604,681
Creditors: amounts falling due after more than one year 7 (440,030) (109,000)
Net assets 509,088 495,681
Capital and reserves
Called up share capital 1 1
Profit and loss account 509,087 495,680
Shareholders' funds 509,088 495,681
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. D. Hodgson
Director
Approved by the board on 10 July 2025
Rivet & Hide Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 6,369
At 30 November 2024 6,369
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 6,369
At 30 November 2023 6,369
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 62,319 117,814 180,133
Additions 262,340 51,905 314,245
At 30 November 2024 324,659 169,719 494,378
Depreciation
At 1 December 2023 30,440 98,964 129,404
Charge for the year 29,883 17,691 47,574
At 30 November 2024 60,323 116,655 176,978
Net book value
At 30 November 2024 264,336 53,064 317,400
At 30 November 2023 31,879 18,850 50,729
5 Debtors 2024 2023
£ £
Trade debtors 265 -
Other debtors 101,142 66,755
101,407 66,755
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 26,910 81,303
Trade creditors 340,445 103,901
Taxation and social security costs 60,835 133,342
Other creditors 6,968 19,081
435,158 337,627
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 440,030 109,000
8 Other information
Rivet & Hide Limited is a private company limited by shares and incorporated in England. Its registered office is:
11-12 Old Burlington Street
London
W1S 3AG
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