REGISTERED NUMBER: 01372955 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

RICHARDSON BUSINESS EQUIPMENT

DISTRIBUTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B M Richardson

S A Richardson

SECRETARY:

S A Richardson

REGISTERED OFFICE:

The Business Centre

Morley Carr Road

Low Moor

Bradford

BD12 0RA

REGISTERED NUMBER:

01372955 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

279,961

358,111

Investments

5

5,000

5,000

284,961

363,111

CURRENT ASSETS

Stock and work in progress

41,051

51,868

Debtors

6

1,241,092

1,323,460

Cash at bank

375,625

327,595

1,657,768

1,702,923

CREDITORS

Amounts falling due within one year

7

1,231,948

1,210,446

NET CURRENT ASSETS

425,820

492,477

TOTAL ASSETS LESS CURRENT LIABILITIES

710,781

855,588

CREDITORS

Amounts falling due after more than one year

8

(143,886

)

(261,373

)

PROVISIONS FOR LIABILITIES

(38,059

)

(52,315

)

NET ASSETS

528,836

541,900

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

528,736

541,800

SHAREHOLDERS' FUNDS

528,836

541,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 29 September 2025 and were signed on its behalf by:

S A Richardson - Director

1.	STATUTORY INFORMATION

Richardson Business Equipment Distributors 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 the invoiced value of goods sold and services provided, less returns and excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost, less accumulated depreciation.

Depreciation is charged at rates estimated to write off assets over their expected useful lives at the following annual rates:

Leasehold improvements

-

10% of cost

Fixtures and fittings

-

20% of cost

Computer equipment

-

33% of cost

Motor vehicles

-

25% of net book value

Stock

Stock is stated at the lower of cost and net realisable value.

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.

Pension contributions

Pension contributions payable to the company's defined contribution pension scheme and contributions to the personal pension schemes of certain directors and staff are charged to profit and loss account when incurred.

Hire purchase and leasing commitments

Assets held under hire purchase and similar contracts are capitalised as tangible fixed assets and the corresponding liability to pay rentals are shown net of finance charges as hire purchase and similar obligations. The finance charge element of rentals is allocated so as to produce a constant periodic rate of charge on the remaining balance of the obligations for each accounting period.

Rentals under operating leases are charged to profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

equipment

Land and

and

buildings

vehicles

Totals

£

£

£

COST

At 1 January 2024

111,900

519,608

631,508

Additions

-

59,973

59,973

Disposals

-

(67,778

)

(67,778

)

At 31 December 2024

111,900

511,803

623,703

DEPRECIATION

At 1 January 2024

66,810

206,587

273,397

Charge for year

10,016

80,334

90,350

Eliminated on disposal

-

(20,005

)

(20,005

)

At 31 December 2024

76,826

266,916

343,742

NET BOOK VALUE

At 31 December 2024

35,074

244,887

279,961

At 31 December 2023

45,090

313,021

358,111

Plant, equipment and vehicles includes assets subject to hire purchase contracts with a net book value of £162,196 (2023 - £265,785). The depreciation charge for the year was £54,067 (2023 - £54,449).

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

5,000

NET BOOK VALUE

At 31 December 2024

5,000

At 31 December 2023

5,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

792,007

863,411

Other debtors

449,085

460,049

1,241,092

1,323,460

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

24,898

29,465

Trade creditors

864,253

837,309

Taxation and social security

187,565

214,763

Other creditors

155,232

128,909

1,231,948

1,210,446

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

137,723

184,691

Other creditors

6,163

76,682

143,886

261,373

9.	SECURED DEBTS

Certain borrowing facilities are secured by a charge over the company's assets. There were no such borrowings at the year end (2023 - none).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100