REGISTERED NUMBER: 02773137 (England and Wales)

Financial Statements

For The Year Ended 31 December 2024

for

Ridi Lighting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M Diez

Mr R K Holt

REGISTERED OFFICE:

Units 8 & 9 The Marshgate Centre

Parkway

Harlow Business Park

Harlow

Essex

CM19 5QP

REGISTERED NUMBER:

02773137 (England and Wales)

AUDITORS:

Affinia (Chelmsford)

Registered Auditor

The Octagon

Suite E2, 2nd Floor

Middleborough

Colchester

Essex

CO1 1TG

FIXED ASSETS

Intangible assets

5

318,607

355,369

Tangible assets

6

84,961

71,185

403,568

426,554

CURRENT ASSETS

Stocks

163,070

267,381

Debtors

7

373,778

1,239,145

Cash at bank and in hand

729,843

604,099

1,266,691

2,110,625

CREDITORS

Amounts falling due within one year

8

6,146,538

6,378,060

NET CURRENT LIABILITIES

(4,879,847

)

(4,267,435

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,476,279

)

(3,840,881

)

CAPITAL AND RESERVES

Called up share capital

10

3,131,000

3,131,000

Retained earnings

(7,607,279

)

(6,971,881

)

SHAREHOLDERS' FUNDS

(4,476,279

)

(3,840,881

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:

Mr R K Holt - Director

1.	STATUTORY INFORMATION

Ridi Lighting 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover

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

Turnover is recognised once the risks and rewards of the goods are with the customer, usually on delivery of the goods.

Goodwill

Goodwill of £367,623, being the amount paid plus potential earn outs payable, in connection with the acquisition of a business combination in 2023, is being amortised over its useful economic life of 10 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Furniture and equipment

-

25% on cost

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell after making

due allowances for obsolete and slow moving items.

Any stock which has no activity for more than 2 years is written down by a percentage, depending on how long it has been since the last activity. Initially it is written down by 30%, then 40%, then 80% and then 100% if no movement in 6 years.

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps 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 the fair value of derivatives are recognised in profit or loss In finance costs or finance income as appropriate unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or toss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred 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 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.

Hire purchase and leasing commitments

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

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.

Going concern

The company is reliant upon the support of the parent company, Ridi Leuchten GmbH. The parent company has confirmed that it will continue to provide Ridi Lighting Limited with continuing financial support. The parent company accounts contain sufficient funds to be able to support the company. The continued support of the Parent Company enables the Company to meet its day to day working capital requirements for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 21 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

367,623

AMORTISATION

At 1 January 2024

12,254

Charge for year

36,762

At 31 December 2024

49,016

NET BOOK VALUE

At 31 December 2024

318,607

At 31 December 2023

355,369

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

14,018

13,768

31,884

Additions

7,254

13,746

2,300

At 31 December 2024

21,272

27,514

34,184

DEPRECIATION

At 1 January 2024

767

6,826

21,931

Charge for year

1,765

6,043

4,336

At 31 December 2024

2,532

12,869

26,267

NET BOOK VALUE

At 31 December 2024

18,740

14,645

7,917

At 31 December 2023

13,251

6,942

9,953

Furniture

Motor

and

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

33,871

30,237

123,778

Additions

-

19,838

43,138

At 31 December 2024

33,871

50,075

166,916

DEPRECIATION

At 1 January 2024

10,585

12,484

52,593

Charge for year

5,821

11,397

29,362

At 31 December 2024

16,406

23,881

81,955

NET BOOK VALUE

At 31 December 2024

17,465

26,194

84,961

At 31 December 2023

23,286

17,753

71,185

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

292,446

1,142,852

Other debtors

81,332

96,293

373,778

1,239,145

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

118,433

150,933

Amounts owed to group undertakings

5,692,797

5,525,015

Taxation and social security

46,277

216,599

Other creditors

289,031

485,513

6,146,538

6,378,060

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

60,902

64,127

Between one and five years

76,938

134,677

137,840

198,804

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

3,131,000

Ordinary

£1

3,131,000

3,131,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Laurence Miles FCA (Senior Statutory Auditor)

for and on behalf of Affinia (Chelmsford)

12.	ULTIMATE CONTROLLING PARTY

Ridi Leuchten GmbH, Hauptstrasse 31-33, D-72417 Jungingen (a company incorporated in Germany) is regarded by the directors as being the company's ultimate parent company.

Ridi Leuchten GmbH has confirmed that it will continue to provide Ridi Lighting Limited with continuing financial support to ensure it can meet its day to day working capital requirements for the foreseeable future.

Ridi Leuchten GmbH draws up consolidated financial statements.