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Registration number: 13435689

Riverhive Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Riverhive Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Riverhive Limited

(Registration number: 13435689)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

137,958

137,958

Creditors: Amounts falling due within one year

6

(137,858)

(137,858)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

7

100

100

Shareholders' funds

 

100

100

For the financial year ending 31 December 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
N P Mellor
Director

 

Riverhive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
10 Wrens Court
48 Victoria Road
Birmingham
B72 1SY

These financial statements were authorised for issue by the Board on 31 July 2024.

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.

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.

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.

 

Riverhive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 under contracts of service (including directors) during the year, was 0 (2022: 0).

 

Riverhive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investments

Joint ventures

£

Cost

At 1 January 2023

-

At 31 December 2023

-

Provision

At 1 January 2023

-

At 31 December 2023

-

Carrying amount

At 31 December 2023

-

At 31 December 2022

-

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the voting rights are as follows:

Undertaking

Registered office

Proportion of voting rights held

     

2023

2022

Joint ventures

Riverhive Properties LLP

10 Wrens Court
48 Victoria Road
Birmingham
B72 1SY

50%

50%

 

     

Joint ventures

Riverhive Properties LLP

The principal activity of Riverhive Properties LLP is that of a holding entity.
The profit for the financial period of Riverhive Properties LLP was £Nil and the aggregate amount of capital and reserves at the end of the period was £Nil.

 

Riverhive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

137,958

137,958

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

137,858

137,858

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

25

25

25

25

Ordinary B shares of £1 each

75

75

75

75

100

100

100

100

 

Riverhive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Loans to related parties

 

Parent

Entities with joint control or significant influence

Associates

2023
£

2022
£

2023
£

2022
£

2023
£

2022
£

At start of period

75

75

137,858

127,858

25

25

Advanced

-

-

-

10,000

-

-

At end of period

75

75

137,858

137,858

25

25

Terms of loans to related parties

All loans to related parties are unsecured, interest-free and repayable on demand.
 

Loans from related parties

 

Parent

Entities with joint control or significant influence

Associates

2023
£

2022
£

2023
£

2022
£

2023
£

2022
£

At start of period

103,394

95,894

-

-

34,465

31,965

Advanced

-

7,500

-

-

-

2,500

At end of period

103,394

103,394

-

-

34,465

34,465

Terms of loans from related parties

All loans from related parties are unsecured, interest-free and repayable on demand.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Ds Devco 1 Limited, incorporated in England.

 The most senior parent entity producing publicly available financial statements is Ds Devco 1 Limited. These financial statements are available upon request from Companies House.