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REGISTERED NUMBER: 07620825 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

River View Cars Limited

River View Cars Limited (Registered number: 07620825)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


River View Cars Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Miss K Heath
E Thorius





SECRETARY:





REGISTERED OFFICE: Unit 1A The Foundry
Commercial Rd
South Shields
Tyne and Wear
NE33 1UE





REGISTERED NUMBER: 07620825 (England and Wales)





ACCOUNTANTS: Grosvenor Business and Accountancy Services Ltd
Unit 214
South Shields Business Works
Henry Robson Way
South Shields
Tyne and Wear
NE33 1RF

River View Cars Limited (Registered number: 07620825)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,930 92,163
Investment property 5 1,400,000 -
1,496,930 92,163

CURRENT ASSETS
Stocks 604,238 358,024
Debtors 6 (4,012 ) 1,185,539
Cash at bank and in hand 391,964 869,392
992,190 2,412,955
CREDITORS
Amounts falling due within one year 7 531,365 520,083
NET CURRENT ASSETS 460,825 1,892,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,957,755

1,985,035

CREDITORS
Amounts falling due after more than one
year

8

99,351

303,050
NET ASSETS 1,858,404 1,681,985

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,858,403 1,681,984
SHAREHOLDERS' FUNDS 1,858,404 1,681,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

River View Cars Limited (Registered number: 07620825)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





Miss K Heath - Director


River View Cars Limited (Registered number: 07620825)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

River View Cars 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 16 ) .

River View Cars Limited (Registered number: 07620825)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 211,121
Additions 116,041
Disposals (183,055 )
At 31 May 2023 144,107
DEPRECIATION
At 1 June 2022 118,958
Charge for year 32,294
Eliminated on disposal (104,075 )
At 31 May 2023 47,177
NET BOOK VALUE
At 31 May 2023 96,930
At 31 May 2022 92,163

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,400,000
At 31 May 2023 1,400,000
NET BOOK VALUE
At 31 May 2023 1,400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors (4,012 ) 1,185,539

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 299,190 -
Trade creditors 44,625 220,902
Taxation and social security 175,396 198,661
Other creditors 12,154 100,520
531,365 520,083

River View Cars Limited (Registered number: 07620825)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 173,679
Hire purchase contracts 99,351 129,371
99,351 303,050