Company No: 02520581 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	39,644		51,616
Investments	4	296,151		275,151
		335,795		326,767
Current assets
Stocks		94,362		78,465
Debtors	5	780,076		778,135
Cash at bank and in hand	6	73		2,573
		874,511		859,173
Creditors: amounts falling due within one year	7	( 660,468)		( 722,339)
Net current assets		214,043		136,834
Total assets less current liabilities		549,838		463,601
Creditors: amounts falling due after more than one year	8	( 211,451)		( 238,260)
Net assets		338,387		225,341
Capital and reserves
Called-up share capital	10	5,000		5,000
Profit and loss account		333,387		220,341
Total shareholders' funds		338,387		225,341

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Rico Industrial Services Limited (registered number: 02520581) were approved and authorised for issue by the Director on 22 December 2025. They were signed on its behalf by:

Andrew John Shore Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rico Industrial Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Units 3 & 4 Henry Edwards Industrial Estate, Boraston Lane, Tenbury Wells, WR15 8LE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance
Computer equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	13		10

3. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2024	165,380		117,514		22,439		305,333
At 31 December 2024	165,380		117,514		22,439		305,333
Accumulated depreciation
At 01 January 2024	132,405		99,764		21,548		253,717
Charge for the financial year	8,244		3,550		178		11,972
At 31 December 2024	140,649		103,314		21,726		265,689
Net book value
At 31 December 2024	24,731		14,200		713		39,644
At 31 December 2023	32,975		17,750		891		51,616

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	275,151
Additions	21,000
At 31 December 2024	296,151
Carrying value at 31 December 2024	296,151
Carrying value at 31 December 2023	275,151

5. Debtors

	2024		2023
	£		£
Trade debtors	7,117		62,006
Amounts owed by Group undertakings	568,589		467,874
Amounts owed by director	117,043		153,928
Accrued income	0		7,000
Deferred tax asset	28,778		28,778
Other debtors	58,549		58,549
	780,076		778,135

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	73		2,573
Less: Bank overdrafts	( 49,933)		( 51,861)
	(49,860)		(49,288)

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	59,933		61,861
Trade creditors	25,761		125,040
Accruals	4,000		4,000
Taxation and social security	457,699		424,015
Obligations under finance leases and hire purchase contracts (secured)	11,717		11,717
Other creditors	101,358		95,706
	660,468		722,339

The assets held under hire purchase contracts are secured against the hire purchase assets themselves.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	100,538		115,626
Amounts owed to Group undertakings	91,843		91,843
Obligations under finance leases and hire purchase contracts (secured)	19,070		30,791
	211,451		238,260

The assets held under hire purchase contracts are secured against the hire purchase assets themselves.

9. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	28,778		0
Credited to the Statement of Income and Retained Earnings	0		28,778
At the end of financial year	28,778		28,778

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each	5,000		5,000

11. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Amounts owed by directors	117,043		153,928

Advances were made to the directors during the year totalling £200,070, repayments were made totalling £243,189. Interest has been charged at a rate of 2.25/3.75% totalling £6,234.