RIGANA UK LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

RIGANA UK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13006666 . The registered office is Unit E, Kingsworthy Foundry London Road, Kings Worthy, Winchester, Hampshire, SO23 7QN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Presentation currency

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Going Concern Disclosure

The accounts have been prepared on the going concern basis as the Directors intend to continue to support the company.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. Sales are recognised when goods are despatched.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25%
Fixtures & Fittings	25%
Computer Equipment	25%

2.5. Stocks and Work in Progress

Inventories held for distribution are measured at cost where applicable taking into allowance any provision for slow moving items.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.

2.6. 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 balance sheet 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 debtors 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.

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

...CONTINUED

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RIGANA UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments - continued

Basic financial liabilities, including creditors, 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 payments 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.

2.7. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.8. Taxation

On 10 June 2021, the Finance Act 2021 was enacted which increased the corporation tax rate from 1 April 2023. This rate will increase from 19% for businesses with profits of less than £50,000 to 25% for businesses with profits over £250,000. Within the profits band of £50,000 to £250,000, corporation tax is calculated at 25% less a calculated marginal relief tax deduction.

2.9. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	175	-	441	616
Additions	-	1,139	-	1,139

As at 31 March 2025	175	1,139	441	1,755

Depreciation
As at 1 April 2024	4	-	119	123
Provided during the period	43	155	111	309

As at 31 March 2025	47	155	230	432

Net Book Value
As at 31 March 2025	128	984	211	1,323

As at 1 April 2024	171	-	322	493

5. Stocks

	2025	2024
	£	£
Stock	15,740	15,470

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RIGANA UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,220	1,429
Other debtors	5,755	2,571

	7,975	4,000

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	23,944	11,275
Other creditors	20,131	18,895
Accruals and deferred income	1,703	6,917
Directors' loan accounts	9,777	12,350

	55,555	49,437

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

The Shareholder is a related party of the company.

The loan owed to the Shareholder, Grant Pedler, is unsecured, interest-free and carries no fixed terms of repayment (note 7).

Rigana UK Ltd, Bhavishye Trust, Honey Pot Trust and Thombi Trust are related parties by virtue of the trusts holding an interest in Rigana UK Ltd.

At balance sheet date Rigana UK Ltd owed the following amounts to the above entities:

Bhavishye Trust £2,621 (2024: £2,433)

Honey Pot Trust £2,621 (2024: £2,433)

Thombi Trust £5,225 (2024: £4,942)

Amounts owed to the above related parties are unsecured, interest bearing and have no fixed terms of repayment.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,323		493

			1,323		493
CURRENT ASSETS
Stocks	5	15,740		15,470
Debtors	6	7,975		4,000
Cash at bank and in hand		16,010		24,409

		39,725		43,879
Creditors: Amounts Falling Due Within One Year	7	(55,555 )		(49,437 )

NET CURRENT ASSETS (LIABILITIES)			(15,830 )		(5,558 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(14,507 )		(5,065 )

NET LIABILITIES			(14,507 )		(5,065 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(14,607 )		(5,165 )

SHAREHOLDERS' FUNDS			(14,507)		(5,065)