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Registration number: 10139339

Riverflow Assets Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Riverflow Assets Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Riverflow Assets Ltd

Company Information

Director

DTY Sim

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Riverflow Assets Ltd

(Registration number: 10139339)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

236,961

82,905

Current assets

 

Debtors

5

5,617

5,606

Cash at bank and in hand

 

3,154

434

 

8,771

6,040

Creditors: Amounts falling due within one year

6

(192,720)

(30,119)

Net current liabilities

 

(183,949)

(24,079)

Total assets less current liabilities

 

53,012

58,826

Creditors: Amounts falling due after more than one year

6

(56,250)

(56,250)

Net (liabilities)/assets

 

(3,238)

2,576

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(3,239)

2,575

Shareholders' (deficit)/funds

 

(3,238)

2,576

 

Riverflow Assets Ltd

(Registration number: 10139339)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 August 2024
 

.........................................
DTY Sim
Director

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the director on 14 August 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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 property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 December

82,905

Additions

154,056

At 30 November

236,961

There has been no valuation of investment property by an independent valuer.

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Debtors

Current

2023
£

2022
£

Prepayments

196

185

Other debtors

5,421

5,421

 

5,617

5,606

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,680

-

Taxation and social security

666

114

Accruals and deferred income

1,680

1,680

Other creditors

188,694

28,325

192,720

30,119

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

56,250

56,250

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

56,250

56,250

 

Riverflow Assets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

DTY Sim

Directors loan account

(26,825)

33

(160,401)

(187,194)

2022

At 1 December 2021
£

Repayments by director
£

At 30 November 2022
£

DTY Sim

Directors loan account

(1,073)

(25,753)

(26,825)