| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2025 |
| for |
| Riccoffee (UK) Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2025 |
| for |
| Riccoffee (UK) Limited |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Riccoffee (UK) Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| 3rd Floor Pacific Chambers |
| 11-13 Victoria Street |
| Liverpool |
| Merseyside |
| L2 5QQ |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Balance Sheet |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | $ | $ | $ | $ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Riccoffee (UK) Limited is a |
| The presentation currency of the financial statements is the US Dollar ($). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents trades in commodities, primarily trades in coffee beans. |
| Tangible fixed assets |
| Plant and machinery - depreciated on a straight line basis over the useful life of 5 years. |
| Computer equipment - depreciated on a straight line basis over the useful life of 5 years. |
| Taxation |
| Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable/receivable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 the profit and loss account in the period to which they relate. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks. |
| Valuation of investments |
| Investments in subsidiaries are measured at cost less accumulated amortisation. |
| Financial instruments |
| Derivatives, including futures and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives. The company does not hold or issue derivative financial instruments for speculative purposes. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | AUDITORS' REMUNERATION |
| 31.3.25 | 31.3.24 |
| $ | $ |
| Fees payable to the company's auditors for the audit of the company's financial statements |
15,932 |
14,280 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| $ | $ | $ |
| COST |
| At 1 April 2024 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| $ | $ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Hedging Account | 300,314 | 794,144 |
| Directors' current accounts | 184 | 491 |
| VAT |
| Prepayments |
| Amounts due from group companies are repayable on demand and attract no interest. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| $ | $ |
| Trade creditors |
| Amount owed to related parties | - | 5,657,552 |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| Amounts due to related parties are repayable on demand and attract no interest. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.3.25 | 31.3.24 |
| $ | $ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| There is a fixed and floating charge over the undertakings of the company dated 23/03/2018. This charge is held by Barclays Bank PLC. The charge was satisfied on the 11/06/2025. |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number | Class | Nominal Value | 31.3.25 | 31.3.24 |
| $ | $ |
| 2,000 | Ordinary | $1 | 2,000 | 2,000 |
| 1,700,000 | Ordinary-B | $1 | 1,700,000 | 1,000,000 |
| 1,702,000 | 1,002,000 |
| 2,000 ordinary shares with a nominal value of $1 each were issued on incorporation for cash consideration. |
| 1,000,000 ordinary B shares with a nominal value of $1 each were created and subsequently issued at a price of $1 each through the conversion of a $1,000,000 inter group loan. |
| On the 18/12/2024 a further 700,000 ordinary B shares with a nominal value of $1 each were created and subsequently issued at a price of $1 each through the conversion of a $700,000 inter group loan. |
| 11. | RESERVES |
| Retained |
| earnings |
| $ |
| At 1 April 2024 | ( |
) |
| Profit for the year |
| At 31 March 2025 | ( |
) |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 31.3.25 | 31.3.24 |
| $ | $ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Riccoffee (UK) Limited (Registered number: 10607900) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
| Directors loan account balances are repayable on demand and attract no interest. |
| 14. | RELATED PARTY DISCLOSURES |
| There is a debtor balance in the financial statements due from Riccoffee Brasil LTDA of $17,023 (2024: $0). |
| Riccoffee (UK) Limited owe Ricco Group FZE a net amount of $0 (2024: $5,657,552). In 2024 this was comprised of a creditor balance of $6,198,000 and a debtor balance of $540,448. Ricco Group FZE formerly had a direct interest in Riccoffee (UK) Limited through ownership of the ordinary B shares. |
| On 18th December 2024, 700,000 Ordinary-B shares were allotted and exchanged as part of the debt to equity exchange which took place to write off the loan of $5,657,552. |
| On 24th January 2025 the now 1,700,000 Ordinary-B shares and the 2,000 Ordinary shares were transferred from Craig Price, to Riccoffee Brasil LTDA. |
| There is a debtor balance in the financial statements due from New World Coffee Suppliers Limited, a company with the same director, for an amount of $40,289 (2024: $39,436). This balance is repayable on demand and attracts no interest. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Riccoffee Brasil LTDA, through ownership of the 2,000 ordinary shares and the 1,700,000 ordinary B shares. |