River Colne Development Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4176908

River Colne Development Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 March 2023

River Colne Development Limited

Financial Statements

Year Ended 31st March 2023

Contents	Page

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements	1

Statement of Financial Position	2

Notes to the Financial Statements	3

River Colne Development Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of River Colne Development Limited

Year Ended 31st March 2023

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31st March 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

PEYTON TYLER MEARS Chartered accountants

Middleborough House 16 Middleborough Colchester Essex CO1 1QT

18 September 2023

River Colne Development Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Current Assets

Debtors	6	3,184,968	3,048,973
Cash at bank and in hand		330,092	199,996
		------------	------------
		3,515,060	3,248,969

Creditors: amounts falling due within one year	7	113,712		214,843
		------------		------------
Net Current Assets			3,401,348	3,034,126
			------------	------------
Total Assets Less Current Liabilities			3,401,348	3,034,126
			------------	------------
Net Assets			3,401,348	3,034,126
			------------	------------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	3,401,248	3,034,026
	------------	------------
Shareholders Funds	3,401,348	3,034,126
	------------	------------

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 31st March 2023 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 .

These financial statements were approved by the board of directors and authorised for issue on 18 September 2023 , and are signed on behalf of the board by:

D. Massey	D.M.D.C. Massey
Director	Director

Company registration number: 4176908

River Colne Development Limited

Notes to the Financial Statements

Year Ended 31st March 2023

1. General Information

The company is a private company limited by shares, registered in England. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.

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.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

	Motor vehicles	-	25% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial Instruments

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 entity after deducting all of its financial liabilities.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible Assets

	Motor vehicles	Total
	£	£
Cost
At 1st April 2022	8,000	8,000
Disposals	( 8,000)	( 8,000)
	-------	-------
At 31st March 2023	–	–
	-------	-------
Depreciation
At 1st April 2022	8,000	8,000
Disposals	( 8,000)	( 8,000)
	-------	-------
At 31st March 2023	–	–
	-------	-------
Carrying amount
At 31st March 2023	–	–
	-------	-------
At 31st March 2022	–	–
	-------	-------

6. Debtors

	2023	2022
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	500,000	500,000
Other debtors	2,684,968	2,548,973
	------------	------------
	3,184,968	3,048,973
	------------	------------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Corporation tax	100,579	201,395
Social security and other taxes	213	78
Other creditors	12,920	13,370
	---------	---------
	113,712	214,843
	---------	---------