IRIS Accounts Production v24.2.0.383 00500854 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh005008542022-12-31005008542023-12-31005008542023-01-012023-12-31005008542021-12-31005008542022-01-012022-12-31005008542022-12-3100500854ns15:EnglandWales2023-01-012023-12-3100500854ns14:PoundSterling2023-01-012023-12-3100500854ns10:Director12023-01-012023-12-3100500854ns10:Director22023-01-012023-12-3100500854ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100500854ns10:SmallEntities2023-01-012023-12-3100500854ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100500854ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100500854ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100500854ns10:FullAccounts2023-01-012023-12-3100500854ns5:CurrentFinancialInstruments2023-12-3100500854ns5:CurrentFinancialInstruments2022-12-3100500854ns5:Non-currentFinancialInstruments2023-12-3100500854ns5:Non-currentFinancialInstruments2022-12-3100500854ns5:ShareCapital2023-12-3100500854ns5:ShareCapital2022-12-3100500854ns5:RetainedEarningsAccumulatedLosses2023-12-3100500854ns5:RetainedEarningsAccumulatedLosses2022-12-3100500854ns10:RegisteredOffice2023-01-012023-12-3100500854ns5:PlantMachinery2023-01-012023-12-3100500854ns5:FurnitureFittings2023-01-012023-12-3100500854ns5:MotorVehicles2023-01-012023-12-3100500854ns5:PlantMachinery2022-12-3100500854ns5:FurnitureFittings2022-12-3100500854ns5:MotorVehicles2022-12-3100500854ns5:PlantMachinery2023-12-3100500854ns5:FurnitureFittings2023-12-3100500854ns5:MotorVehicles2023-12-3100500854ns5:PlantMachinery2022-12-3100500854ns5:FurnitureFittings2022-12-3100500854ns5:MotorVehicles2022-12-3100500854ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3100500854ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3100500854ns5:LeasedAssetsHeldAsLessee2023-12-3100500854ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3100500854ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3100500854ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3100500854ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:LeasedAssetsHeldAsLessee2022-12-3100500854ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100500854ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100500854ns5:CurrentFinancialInstruments2023-01-012023-12-3100500854ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3100500854ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3100500854ns5:TaxLossesCarry-forwardsDeferredTax2023-12-3100500854ns5:TaxLossesCarry-forwardsDeferredTax2022-12-3100500854ns5:DeferredTaxation2022-12-3100500854ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 00500854 (England and Wales)











Financial Statements for the Year Ended 31 December 2023

for

Rivers Engineering Company (Winchester)
Limited

Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 568,352 660,218

CURRENT ASSETS
Stocks 63,000 80,000
Debtors 5 80,184 38,594
Cash at bank 371,708 398,627
514,892 517,221
CREDITORS
Amounts falling due within one year 6 568,952 522,600
NET CURRENT LIABILITIES (54,060 ) (5,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,292

654,839

CREDITORS
Amounts falling due after more than one year 7 (54,800 ) (143,168 )

PROVISIONS FOR LIABILITIES 8 (142,087 ) (118,389 )
NET ASSETS 317,405 393,282

CAPITAL AND RESERVES
Called up share capital 6,500 6,500
Retained earnings 310,905 386,782
317,405 393,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2024 and were signed on its behalf by:




Mrs S M Parker - Director



R L Parker - Director


Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

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


1. STATUTORY INFORMATION

Rivers Engineering Company (Winchester) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00500854

Registered office: Moorside Road
Winnall
Winchester
Hampshire
SO23 7RX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 1,862,654 147,534 124,569 2,134,757
Additions 16,295 - - 16,295
At 31 December 2023 1,878,949 147,534 124,569 2,151,052
DEPRECIATION
At 1 January 2023 1,291,673 118,308 64,558 1,474,539
Charge for year 85,851 7,307 15,003 108,161
At 31 December 2023 1,377,524 125,615 79,561 1,582,700
NET BOOK VALUE
At 31 December 2023 501,425 21,919 45,008 568,352
At 31 December 2022 570,981 29,226 60,011 660,218

Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 445,900 106,467 552,367
Transfer to ownership - (30,305 ) (30,305 )
At 31 December 2023 445,900 76,162 522,062
DEPRECIATION
At 1 January 2023 144,449 51,732 196,181
Charge for year 45,217 11,586 56,803
Transfer to ownership - (21,915 ) (21,915 )
At 31 December 2023 189,666 41,403 231,069
NET BOOK VALUE
At 31 December 2023 256,234 34,759 290,993
At 31 December 2022 301,451 54,735 356,186

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,067 9,236
Other debtors 31,117 29,358
80,184 38,594

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 78,931 81,043
Trade creditors 165,819 185,893
Taxation and social security 86,596 35,891
Other creditors 227,606 209,773
568,952 522,600

Other loans includes a loan from the Rivers Engineering Co (Winchester) Ltd Retirement Benefits Scheme which is secured by fixed charges over the assets of the company. Hire purchase liabilities are secured on the fixed assets concerned.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,529 28,333
Hire purchase contracts 36,271 114,835
54,800 143,168

Rivers Engineering Company (Winchester)
Limited (Registered number: 00500854)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 142,087 165,054
Tax losses carried forward - (46,665 )
142,087 118,389

Deferred
tax
£   
Balance at 1 January 2023 118,389
Accelerated capital allowances (22,967 )
Tax losses utilised 46,665
Balance at 31 December 2023 142,087