Registration number:
Riou Limited
for the Year Ended 31 March 2024
Riou Limited
(Registration number: 09452099)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Other financial assets |
1,145,761 |
737,494 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' funds |
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For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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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 Directors' Report and the Profit and Loss Account has been taken.
These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
Riou Limited
(Registration number: 09452099)
Balance Sheet as at 31 March 2024 (continued)
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Director
Riou Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Accounting policies |
Statutory information
Riou Limited is a private company, limited by shares, domiciled in England and Wales, company number 09452099. The registered office is at 504 Ecclesall Road, Sheffield, S11 8PY.
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.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover represents the income arising from property lettings. Revenue is recognised on a straight line basis over the lease term.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment properties
Financial instruments
Riou Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Staff numbers |
The average number of persons employed by the company during the year was
Investment properties |
Valuation |
2024 |
At 1 April 2023 |
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At 31 March 2024 |
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The directors are satisfied that the fair value of the company's investment properties as at 31 March 2024 are not materially different to the above valuation.
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
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Current financial assets |
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Valuation |
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At 1 April 2023 |
737,494 |
Additions |
493,574 |
Fair value adjustments |
67,120 |
Disposals |
(152,427) |
At 31 March 2024 |
1,145,761 |
The historical cost of the current financial assets is £1,074,503 (2023: £732,168).
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Riou Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Bank overdraft |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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2024 |
2023 |
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Due after one year |
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Bank loan |
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The bank borrowings are secured by a charge over the company's assets.
Related party transactions |
I B & C Blaskey
During the period the directors had a interest free loan account with the company. At the balance sheet date the directors owed the company £624,460 (2023: £388,397).
Salis Properties Limited
During the period the company had an interest free loan account with Salis Properties Limited, a company in which I B & C Blaskey are directors. At the balance sheet date the company owed £17,931 (2023: £37,715) to Salis Properties Limited.