Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

Rheavendors UK Ltd is a private company, limited by shares, registered in England and Wales.

The address of its registered office is:
3 Charlwood Court
Merlin Centre
County Oak Way
Crawley
West Sussex
RH11 7XA

These financial statements were authorised for issue by the director on 5 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

The director has assessed the company’s ability to continue as a going concern and, in doing so, has considered cash flow forecasts and the financial position of the company for a period of at least twelve months from the date of approval of these financial statements.

The company is dependent on ongoing financial support from its parent undertaking. The parent company has confirmed that it will continue to provide financial support to enable the company to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements.

Accordingly, the director considers it appropriate to prepare the financial statements on the going concern basis.

Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 5 May 2026 was Lee Gardner FCA, who signed for and on behalf of Vale & West Accountancy Services Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% Straight line basis
Fixtures and fittings	20% - 33% Straight line basis
Office equipment	33% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the weighted average cost of items held.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 5).

Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost
At 1 January 2025	73,817	15,755	20,829	110,401
At 31 December 2025	73,817	15,755	20,829	110,401
Depreciation
At 1 January 2025	72,734	13,594	20,233	106,561
Charge for the year	934	599	276	1,809
At 31 December 2025	73,668	14,193	20,509	108,370
Carrying amount
At 31 December 2025	149	1,562	320	2,031
At 31 December 2024	1,083	2,161	596	3,840

5

Stocks

	31 December 2025 £	31 December 2024 £
Finished goods and goods for resale	444,537	393,740

6

Debtors

Current	31 December 2025 £	31 December 2024 £
Trade debtors	110,921	152,064
Prepayments	31,801	101,792
Other debtors	988	5,794
	143,710	259,650

Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	31 December 2025 £	31 December 2024 £
Due within one year
Bank loans and overdrafts	9	142,055	87,908
Trade creditors		19,720	25,575
Amounts owed to group undertakings	11	708,609	646,641
Taxation and social security		36,290	49,414
Other creditors		5,667	37,725
		912,341	847,263

8	Share capital

Allotted, called up and fully paid shares

	31 December 2025		31 December 2024
	No.	£	No.	£
Ordinary of £1 each	679,000	679,000	679,000	679,000

9	Loans and borrowings

Current loans and borrowings

	31 December 2025 £	31 December 2024 £
Bank overdrafts	142,055	87,908

Rheavendors UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

10	Obligations under operating leases

Operating leases

The total of future minimum lease payments is as follows:

	31 December 2025 £	31 December 2024 £
Not later than one year	47,415	18,020
Later than one year and not later than five years	28,484	12,195
	75,899	30,215

The amount of non-cancellable operating lease payments recognised as an expense during the year was £62,254 (2024 - £8,467).

11	Related party transactions

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.

12	Ultimate controlling party

The smallest group for which consolidated financial statements are drawn up is headed by Rhea Vendors Group S.p.A whose registered office is at Via Trieste, 49, 21042 Caronno Pertusella VA, Italy, with the immediate parent company being Rheavendors Servomat Deutschland GmbH. The ultimate controlling party is LARENE Srl whose registered office is Via E.Toti, 2 - Milano, Italy.