Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11126094 Mr Gurjeet Sarai Mr Gurveer Dhillon Mr Kalveer Singh Dhillon Mr Brinderjeet Singh Gill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11126094 2022-12-31 11126094 2023-12-31 11126094 2023-01-01 2023-12-31 11126094 frs-core:CurrentFinancialInstruments 2023-12-31 11126094 frs-core:Non-currentFinancialInstruments 2023-12-31 11126094 frs-core:FurnitureFittings 2023-12-31 11126094 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11126094 frs-core:FurnitureFittings 2022-12-31 11126094 frs-core:NetGoodwill 2023-12-31 11126094 frs-core:NetGoodwill 2023-01-01 2023-12-31 11126094 frs-core:NetGoodwill 2022-12-31 11126094 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 11126094 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11126094 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 11126094 frs-core:MotorVehicles 2023-12-31 11126094 frs-core:MotorVehicles 2023-01-01 2023-12-31 11126094 frs-core:MotorVehicles 2022-12-31 11126094 frs-core:PlantMachinery 2023-12-31 11126094 frs-core:PlantMachinery 2023-01-01 2023-12-31 11126094 frs-core:PlantMachinery 2022-12-31 11126094 frs-core:ShareCapital 2023-12-31 11126094 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11126094 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11126094 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11126094 frs-bus:SmallEntities 2023-01-01 2023-12-31 11126094 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11126094 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11126094 frs-bus:Director1 2023-01-01 2023-12-31 11126094 frs-bus:Director2 2023-01-01 2023-12-31 11126094 frs-bus:Director3 2023-01-01 2023-12-31 11126094 frs-bus:Director4 2023-01-01 2023-12-31 11126094 frs-countries:EnglandWales 2023-01-01 2023-12-31 11126094 2021-12-31 11126094 2022-12-31 11126094 2022-01-01 2022-12-31 11126094 frs-core:CurrentFinancialInstruments 2022-12-31 11126094 frs-core:Non-currentFinancialInstruments 2022-12-31 11126094 frs-core:ShareCapital 2022-12-31 11126094 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11126094
Five River Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11126094
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 120,000 120,000
Tangible Assets 5 209,620 185,705
329,620 305,705
CURRENT ASSETS
Debtors 6 45,250 42,847
Cash at bank and in hand 109,507 67,173
154,757 110,020
Creditors: Amounts Falling Due Within One Year 7 (121,337 ) (179,321 )
NET CURRENT ASSETS (LIABILITIES) 33,420 (69,301 )
TOTAL ASSETS LESS CURRENT LIABILITIES 363,040 236,404
Creditors: Amounts Falling Due After More Than One Year 8 (45,027 ) (91,073 )
NET ASSETS 318,013 145,331
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 317,913 145,231
SHAREHOLDERS' FUNDS 318,013 145,331
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Gurveer Dhillon
Director
12 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Five River Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11126094 . The registered office is 50 Fendyke Road, Belvedere, Kent, DA17 5DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold No Depreciation
Plant & Machinery Depreciation 25% WDV
Motor Vehicles Depreciation 25% WDV
Fixtures & Fittings Depreciation 15% WDV
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 120,000
As at 31 December 2023 120,000
Net Book Value
As at 31 December 2023 120,000
As at 1 January 2023 120,000
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 164,896 - 8,000 23,609 196,505
Additions - 36,648 - - 36,648
As at 31 December 2023 164,896 36,648 8,000 23,609 233,153
Depreciation
As at 1 January 2023 - - 3,500 7,300 10,800
Provided during the period - 9,162 1,125 2,446 12,733
As at 31 December 2023 - 9,162 4,625 9,746 23,533
Net Book Value
As at 31 December 2023 164,896 27,486 3,375 13,863 209,620
As at 1 January 2023 164,896 - 4,500 16,309 185,705
6. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 1,194 -
Other debtors 44,056 42,847
45,250 42,847
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 35,565 88,958
Other creditors 22,777 6,230
Taxation and social security 62,995 84,133
121,337 179,321
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,783 35,652
Other creditors 19,244 55,421
45,027 91,073
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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