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REGISTERED NUMBER: 03122303 (England and Wales)












RIVERVIEW PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RIVERVIEW PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: Mr C M Christy





SECRETARY: Ms L Belcher





REGISTERED OFFICE: Sterling House
Fulbourne Road
London
E17 4EE





REGISTERED NUMBER: 03122303 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,015 1,199
Investment property 5 4,876,000 5,567,000
4,877,015 5,568,199

CURRENT ASSETS
Debtors 6 12,793 14,831
Cash at bank 714,727 20,131
727,520 34,962
CREDITORS
Amounts falling due within one year 7 922,870 956,563
NET CURRENT LIABILITIES (195,350 ) (921,601 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,681,665

4,646,598

CREDITORS
Amounts falling due after more than one
year

8

(1,370,987

)

(713,769

)

PROVISIONS FOR LIABILITIES 11 (229,570 ) (365,608 )
NET ASSETS 3,081,108 3,567,221

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 12 2,002,826 2,557,788
Retained earnings 1,077,282 1,008,433
SHAREHOLDERS' FUNDS 3,081,108 3,567,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2022 and were signed by:





Mr C M Christy - Director


RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Riverview Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the net rents receivable, excluding value added tax. Turnover is recognised when rent becomes due under the lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
The company's investment properties are held for long term investment and are included in the balance sheet at their fair values. No depreciation is provided in respect of freehold and long leasehold investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.


RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 17,127 915 18,042
DEPRECIATION
At 1 January 2021 15,951 892 16,843
Charge for year 176 8 184
At 31 December 2021 16,127 900 17,027
NET BOOK VALUE
At 31 December 2021 1,000 15 1,015
At 31 December 2020 1,176 23 1,199

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 5,567,000
Revaluations (691,000 )
At 31 December 2021 4,876,000
NET BOOK VALUE
At 31 December 2021 4,876,000
At 31 December 2020 5,567,000

RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2014 1,345,717
Valuation in 2016 1,042,063
Valuation in 2017 230,000
Valuation in 2018 221,000
Valuation in 2020 101,000
Valuation in 2021 (691,000 )
Cost 2,627,220
4,876,000

Investment property was valued on fair value basis on 31 December 2020 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 10,364 12,680
Prepayments 2,429 2,151
12,793 14,831

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts (see note 9) 78,004 126,304
Other creditors 2,816 2,816
Tax 15,984 20,972
Other creditors 5,125 4,592
Amount owed to related company 13,240 11,040
Directors' current accounts 799,927 783,487
Accruals and deferred income 7,774 7,352
922,870 956,563

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans (see note 9) 1,370,987 713,769

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,058,970 208,553

RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. LOANS

An analysis of the maturity of loans is given below:

31.12.21 31.12.20
£    £   
Amounts falling due within one year or on demand:
Bank loans 78,004 126,304

Amounts falling due between one and two years:
Bank loans - 1-2 years 78,004 126,304

Amounts falling due between two and five years:
Bank loans - 2-5 years 234,013 378,912

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,058,970 208,553

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank loans 1,448,991 840,073

The bank loans are secured by first legal charges over the company's assets and personal guarantees and indemnities given by the director.

11. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 229,570 365,608

Deferred
tax
£   
Balance at 1 January 2021 365,608
Provided during year (136,038 )
Balance at 31 December 2021 229,570

RIVERVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03122303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. RESERVES
Fair
value
reserve
£   
At 1 January 2021 2,557,788
Revaluation reserve (554,962 )

At 31 December 2021 2,002,826

13. ULTIMATE CONTROLLING PARTY

Mr Christy, the director, controls the company by holding 100% of the issued ordinary share capital.