Registration number:
Riverhill Developments LLP
for the Year Ended 31 December 2023
Riverhill Developments LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Statement of Changes in Members’ Interests |
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Notes to the Financial Statements |
Riverhill Developments LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Riverhill Developments LLP
(Registration number: OC422349)
Balance Sheet as at 31 December 2023
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2023 |
2022 |
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Fixed assets |
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Investments |
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Creditors: Amounts falling due within one year |
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Net assets/(liabilities) attributable to members |
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Represented by: |
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Total members' interests |
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For the year ending 31 December 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Riverhill Developments LLP (registered number OC422349) were approved by the
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Riverhill Developments LLP
Statement of Changes in Members’ Interests
At 31 December 2023
Total |
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Members' interest at 1 January 2023 |
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Profit/(loss) for the financial year available for discretionary division among members |
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At 31 December 2023 |
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Total |
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Members' interest at 1 January 2022 |
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Profit/(loss) for the financial year available for discretionary division among members |
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At 31 December 2022 |
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Riverhill Developments LLP
Notes to the Financial Statements for the Year Ended 31 December 2023
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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.
The functional currency of Riverhill Developments LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Going concern
With continued support extended by its related parties, the company’s directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future and therefore consider that it remains appropriate to prepare the financial statements on the going concern basis.
Exemption from preparing group accounts
The limited liability partnership is part of a small group. The limited liability partnership has taken advantage of the exemption provided by Section 399 (2A) of the Companies Act 2006, as applied to limited liability partnerships, and has not prepared group accounts.
Judgements
Preparation of the financial statements requires management to make significant judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the change takes place if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the LLP in exchange for control of the acquired, plus any costs directly attributable to the business combination.
Riverhill Developments LLP
Notes to the Financial Statements for the Year Ended 31 December 2023
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Particulars of employees |
The average number of persons employed, under contracts of service, by the limited liability partnership during the year was
Investments held as fixed assets |
2023 |
2022 |
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Shares in group undertakings and participating interests |
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Shares in group undertakings and participating interests
Subsidiary undertakings |
Total |
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Cost |
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At 1 January 2023 |
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At 31 December 2023 |
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Net book value |
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At 31 December 2023 |
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At 31 December 2022 |
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Riverhill Developments LLP
Notes to the Financial Statements for the Year Ended 31 December 2023
Details of undertakings
Details of the investments in which the limited liability partnership holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
Principal activity |
Subsidiary undertakings |
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Ordinary £1 shares |
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Property development |
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Ordinary £1 shares |
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Property development |
All subsidiaries are incororated in England.
Subsidiaries
The profit for the financial period of Riverstone Developments (Lincoln) Limited was £647,447 and the aggregate amount of capital and reserves at the end of the period was £642,754. |
The loss for the financial period of Riverstone Developments (Pitlochry) Limited was £642,842 and the aggregate amount of capital and reserves at the end of the period was £(648,882). |
Creditors: Amounts falling due within one year |
Note |
2023 |
2022 |
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Amounts owed to group undertakings and undertakings in which the limited liability partnership has a participating interest |
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Riverhill Developments LLP
Notes to the Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Loans from related parties
2023 |
Subsidiary |
At start of period |
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2022 |
Subsidiary |
At start of period |
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Terms of loans from related parties
Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.