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Registration number: 10139339

Riverflow Assets Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Riverflow Assets Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Riverflow Assets Ltd

Company Information

Director

DTY Sim

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Riverflow Assets Ltd

(Registration number: 10139339)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

82,905

-

Current assets

 

Debtors

5

5,606

6,621

Cash at bank and in hand

 

434

3,108

 

6,040

9,729

Creditors: Amounts falling due within one year

6

(30,119)

(4,800)

Net current (liabilities)/assets

 

(24,079)

4,929

Total assets less current liabilities

 

58,826

4,929

Creditors: Amounts falling due after more than one year

6

(56,250)

-

Net assets

 

2,576

4,929

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

2,575

4,928

Shareholders' funds

 

2,576

4,929

 

Riverflow Assets Ltd

(Registration number: 10139339)
Balance Sheet as at 30 November 2022

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2023
 

.........................................
DTY Sim
Director

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the director on 15 November 2023.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Investment properties

2022
£

Additions

82,905

At 30 November

82,905

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2022
£

2021
£

Prepayments

185

-

Other debtors

5,421

6,621

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

114

666

Accruals and deferred income

1,680

1,560

Other creditors

28,325

2,574

30,119

4,800

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

56,250

-

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

56,250

-

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

9

Related party transactions

Transactions with the director

2022

At 1 December 2021
£

Repayments by director
£

At 30 November 2022
£

DTY Sim

Directors loan account

(1,073)

(25,753)

(26,825)

       
     

 

2021

At 1 December 2020
£

Advances to director
£

Repayments by director
£

At 30 November 2021
£

DTY Sim

Directors loan account

3,827

5,300

(10,200)

(1,073)

         
       

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

 

10

Transition to FRS 102

Accounts have been transitioned from FRS105 to FR102A.

Balance Sheet at 1 December 2020
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Current assets

Debtors

4,240

-

-

4,240

Cash at bank and in hand

1,877

-

-

1,877

6,117

-

-

6,117

Creditors: Amounts falling due within one year

(4,026)

-

-

(4,026)

Net assets

2,091

-

-

2,091

Capital and reserves

Called up share capital

1

-

-

1

Total equity

1

-

-

1

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Balance Sheet at 30 November 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Current assets

Debtors

6,621

-

-

6,621

Cash at bank and in hand

3,108

-

-

3,108

9,729

-

-

9,729

Creditors: Amounts falling due within one year

(4,800)

-

-

(4,800)

Net assets

4,929

-

-

4,929

Capital and reserves

Called up share capital

1

-

-

1

Total equity

1

-

-

1