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COMPANY REGISTRATION NUMBER: NI031280

Rio & Brazil Limited

Filleted Unaudited Financial Statements

30 June 2025

Rio & Brazil Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Intangible assets | 5 | 90,540 | 77,145
Tangible assets | 6 | 17,143 | 19,634
| --------- | --------
| 107,683 | 96,779

Current assets

Stocks | 317,447 | 354,000
Debtors | 7 | 7,918 | 7,991
Cash at bank and in hand | 23,437 | 36,598
| --------- | ---------
| 348,802 | 398,589

Creditors: amounts falling due within one year | 8 | 418,851 | 395,591
| --------- | ---------
Net current (liabilities)/assets | ( 70,049) | 2,998
| --------- | --------
Total assets less current liabilities | 37,634 | 99,777

Creditors: amounts falling due after more than one year | 9 | 21,868 | 28,011
| -------- | --------
Net assets | 15,766 | 71,766
| -------- | --------

Capital and reserves

Called up share capital | 10 | 40,100 | 40,100
Profit and loss account | 11 | ( 24,334) | 31,666
| -------- | --------
Shareholders funds | 15,766 | 71,766
| -------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Rio & Brazil Limited

Statement of Financial Position (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 10 March 2026 , and are signed on behalf of the board by:

Mr DW Simpson
Director

Company registration number: NI031280

Rio & Brazil Limited

Notes to the Financial Statements

Year ended 30 June 2025
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Ug40 Victoria Square, Belfast, BT1 4QG, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Intangible Assets | - | 20 % straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Long leasehold property | - | 25% reducing balance
| Fixtures and fittings | - | 25% reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2024: 13 ).
5. Intangible assets

| Computer Software
| £
Cost |
At 1 July 2024 | 174,411
Additions | 40,620
| ---------
At 30 June 2025 | 215,031
| ---------
Amortisation |
At 1 July 2024 | 97,266
Charge for the year | 27,225
| ---------
At 30 June 2025 | 124,491
| ---------
Carrying amount |
At 30 June 2025 | 90,540
| ---------
At 30 June 2024 | 77,145
| ---------

6. Tangible assets

| Long leasehold property | Fixtures and fittings | Total
| £ | £ | £
Cost |  |  |
At 1 July 2024 | 92,255 | 48,439 | 140,694
Additions | – | 2,580 | 2,580
| -------- | -------- | ---------
At 30 June 2025 | 92,255 | 51,019 | 143,274
| -------- | -------- | ---------
Depreciation |  |  |
At 1 July 2024 | 78,626 | 42,434 | 121,060
Charge for the year | 3,408 | 1,663 | 5,071
| -------- | -------- | ---------
At 30 June 2025 | 82,034 | 44,097 | 126,131
| -------- | -------- | ---------
Carrying amount |  |  |
At 30 June 2025 | 10,221 | 6,922 | 17,143
| -------- | -------- | ---------
At 30 June 2024 | 13,629 | 6,005 | 19,634
| -------- | -------- | ---------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | – | 312
Other debtors | 7,918 | 7,679
| ------- | -------
| 7,918 | 7,991
| ------- | -------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 14,233 | 13,428
Trade creditors | 116,434 | 99,719
Social security and other taxes | 46,194 | 48,394
Pensions Payable | 1,777 | 1,304
Other creditors | 240,213 | 232,746
| --------- | ---------
| 418,851 | 395,591
| --------- | ---------

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

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 21,868 | 28,011
| -------- | --------

10. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 40,100 | 40,100 | 40,100 | 40,100
| -------- | -------- | -------- | --------

11. Reserves
Retained earnings consists of the company's accumulated profits and losses.
12. Directors' advances, credits and guarantees
During the year, the director made net loans to the company of £3,123. At the balance sheet date, £193,870 (2024: £190,746) remained owed to the director from the company.
13. Controlling party
The company is under the control of Mr David Simpson and Mrs Kathleen Simpson as directors and joint shareholders.