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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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RIGIBORE LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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RIGIBORE LIMITED |
RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RIGIBORE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
The Old Carriage Works |
Moresk Road |
TRURO |
Cornwall |
TR1 1DG |
RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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BALANCE SHEET |
30 JUNE 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | STATUTORY INFORMATION |
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Rigibore Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
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. |
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Turnover |
Turnover represents revenue from ordinary activities recognised in the accounts. Revenue is recognised when |
the company fulfils its contractual obligations to customers by supplying goods and services and excludes value |
added tax. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks and work in progress |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of |
activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the |
valuation of work in progress. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Research and development |
Expenditure on Research is written off in the year in which it is incurred. Development expenditure is written off |
in the same way unless the directors are satisfied as to the technical, commercial and financial viability of |
individual projects. In this situation, the expenditure is deferred and amortised over the period during which the |
company is expected to benefit. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates defined contribution pension schemes. Contributions payable to the company's pension |
schemes are charged to the profit and loss account in the period to which they relate. |
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Government grants |
Grants towards capital expenditure are credited to deferred revenue and are released to the profit and loss |
account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit |
and loss account as the related expenditure is incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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Transfer to group company |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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Transfer to group company |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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Transfer to group company | ( |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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Transfer to group company | ( |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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On 30 June 2019 assets were transferred to R&R Bassett (Engineering) Limited, a company within the same |
group, on a nil gain nil loss basis. |
RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
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COST |
At 1 July 2018 |
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Additions |
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Transfer to ownership | (411,731 | ) | (20,472 | ) | (432,203 | ) |
Transfer to group company | ( |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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Transfer to ownership | (187,873 | ) | (14,123 | ) | (201,996 | ) |
Transfer to group company | ( |
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( |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2018 |
and 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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Other creditors |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Hire purchase contracts | 209,150 | 80,766 |
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The bank loan and overdraft facility are secured on certain assets and freehold property. |
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The hire purchase obligations are secured on the assets to which they relate. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | OTHER FINANCIAL COMMITMENTS |
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The company has entered into an unlimited cross guarantee with its bankers to guarantee the bank borrowings of |
its subsidiary companies, R&R Bassett (Engineering) Limited and Rigibore Limited. The amount guaranteed as |
at the balance sheet was £nil (2018 - £5,514) being the value of overdraft in R&R Bassett (Engineering) |
Limited. |
RIGIBORE LIMITED (REGISTERED NUMBER: 01465509) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Mr R Bassett by virtue of his shareholding in Bassett Group Limited. |