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Registration number: 05481203

Riversedge Business Finance Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Riversedge Business Finance Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 5

 

Riversedge Business Finance Limited

Company Information

Directors

Mr M Harvey

Mrs J Harvey

Company secretary

Mr M Harvey

Registered office

26 Tamerton Close
Riversedge
Tamerton Foliot
Plymouth
Devon
PL5 4JX

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Riversedge Business Finance Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Riversedge Business Finance Limited for the year ended 30 June 2023 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Riversedge Business Finance Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Riversedge Business Finance Limited and state those matters that we have agreed to state to the Board of Directors of Riversedge Business Finance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riversedge Business Finance Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Riversedge Business Finance Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Riversedge Business Finance Limited. You consider that Riversedge Business Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Riversedge Business Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

7 March 2024

 

Riversedge Business Finance Limited

(Registration number: 05481203)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

59,995

50,768

Creditors: Amounts falling due within one year

6

(13,303)

(3,594)

Net assets

 

46,692

47,174

Capital and reserves

 

Called up share capital

86

86

Retained earnings

46,606

47,088

Shareholders' funds

 

46,692

47,174

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................

Mr M Harvey

Company secretary and director

 

Riversedge Business Finance Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
26 Tamerton Close
Riversedge
Tamerton Foliot
Plymouth
Devon
PL5 4JX

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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in the UK and republic of Ireland and the Companies Act 2006.

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

Computer equipment

33% straight line

Fixtures & fittings

20% straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Riversedge Business Finance Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

823

823

At 30 June 2023

823

823

Amortisation

At 1 July 2022

823

823

At 30 June 2023

823

823

Carrying amount

At 30 June 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

2,267

2,267

At 30 June 2023

2,267

2,267

Depreciation

At 1 July 2022

2,267

2,267

At 30 June 2023

2,267

2,267

Carrying amount

At 30 June 2023

-

-

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

13,303

3,594