Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr J Allweis 05/11/2002 Mr M H P Allweis 05/11/2002 08 March 2024 The principal activity of the company continued to be that of property investment throughout this and the previous year. 04552486 2023-10-31 04552486 bus:Director1 2023-10-31 04552486 bus:Director2 2023-10-31 04552486 2022-10-31 04552486 core:CurrentFinancialInstruments 2023-10-31 04552486 core:CurrentFinancialInstruments 2022-10-31 04552486 core:Non-currentFinancialInstruments 2023-10-31 04552486 core:Non-currentFinancialInstruments 2022-10-31 04552486 core:ShareCapital 2023-10-31 04552486 core:ShareCapital 2022-10-31 04552486 core:RetainedEarningsAccumulatedLosses 2023-10-31 04552486 core:RetainedEarningsAccumulatedLosses 2022-10-31 04552486 2022-11-01 2023-10-31 04552486 bus:FilletedAccounts 2022-11-01 2023-10-31 04552486 bus:SmallEntities 2022-11-01 2023-10-31 04552486 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04552486 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04552486 bus:Director1 2022-11-01 2023-10-31 04552486 bus:Director2 2022-11-01 2023-10-31 04552486 2021-11-01 2022-10-31 04552486 core:Non-currentFinancialInstruments 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 04552486 (England and Wales)

RIVERFERN BUILDING LTD

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

RIVERFERN BUILDING LTD

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

RIVERFERN BUILDING LTD

BALANCE SHEET

As at 31 October 2023
RIVERFERN BUILDING LTD

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 1,200,000 1,200,000
1,200,000 1,200,000
Current assets
Debtors 4 0 1,170
0 1,170
Creditors: amounts falling due within one year 5 ( 18,516) ( 21,759)
Net current liabilities (18,516) (20,589)
Total assets less current liabilities 1,181,484 1,179,411
Creditors: amounts falling due after more than one year 6 ( 611,202) ( 611,202)
Provision for liabilities 7 ( 14,163) ( 14,163)
Net assets 556,119 554,046
Capital and reserves
Called-up share capital 2 2
Profit and loss account 556,117 554,044
Total shareholders' funds 556,119 554,046

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Riverfern Building Ltd (registered number: 04552486) were approved and authorised for issue by the Board of Directors on 08 March 2024. They were signed on its behalf by:

Mr M H P Allweis
Director
RIVERFERN BUILDING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
RIVERFERN BUILDING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Riverfern Building Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 Montpellier Mews, Salford, Manchester, M7 4ZW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 November 2022 1,200,000
As at 31 October 2023 1,200,000

Valuation

Investment property comprises the properties known as 23, 23A, 23B, 23C and 23D Woodhead Road, Holmfirth, West Yorkshire, HD9 2JU. The fair value of the investment properties has been arrived at on the basis of a valuation carried out on 31 October 2007 by the company directors and it is not considered to have significantly changed since that date. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4. Debtors

2023 2022
£ £
Trade debtors 0 1,170

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 486 4,835
Other creditors 18,030 16,924
18,516 21,759

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 611,202 611,202

The bank loan above is secured by way of legal mortgage over the investment property owned by the company.

7. Provision for liabilities

2023 2022
£ £
Deferred tax 14,163 14,163