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REGISTERED NUMBER: 09192314 (England and Wales)















RIVERSIDE N11 LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023






RIVERSIDE N11 LIMITED (REGISTERED NUMBER: 09192314)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIVERSIDE N11 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: U L Patel





REGISTERED OFFICE: 104 High Road
London
N15 6JR





REGISTERED NUMBER: 09192314 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

RIVERSIDE N11 LIMITED (REGISTERED NUMBER: 09192314)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 2,034,231 2,474,733
Debtors 4 253,710 125,813
Cash at bank 1,366 1,422
2,289,307 2,601,968
CREDITORS
Amounts falling due within one year 5 199,065 360,668
NET CURRENT ASSETS 2,090,242 2,241,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,090,242

2,241,300

CREDITORS
Amounts falling due after more than one year 6 2,141,613 2,482,274
NET LIABILITIES (51,371 ) (240,974 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (51,471 ) (241,074 )
SHAREHOLDERS' FUNDS (51,371 ) (240,974 )

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





U L Patel - Director


RIVERSIDE N11 LIMITED (REGISTERED NUMBER: 09192314)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Riverside N11 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Rental income is recognised when the property is occupied.

Stocks
Stocks are valued at the lower of cost and net realisable value, based on expenditure incurred during the year towards the development of properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern
The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

RIVERSIDE N11 LIMITED (REGISTERED NUMBER: 09192314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,379 -
Other debtors 31,930 44,181
33,309 44,181

Amounts falling due after more than one year:
Amounts owed by associates 220,401 81,632

Aggregate amounts 253,710 125,813

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,011 1,962
Trade creditors 4,003 1,800
Taxation and social security 405 -
Other creditors 192,646 356,906
199,065 360,668

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,409,438 1,412,765
Amounts owed to associates 354,556 321,494
Other creditors 377,619 748,015
2,141,613 2,482,274

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 1,405,795 1,407,111
Other loans more than 5 years - 250,000
1,405,795 1,657,111

RIVERSIDE N11 LIMITED (REGISTERED NUMBER: 09192314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 315,000 660,000
Bank Loans 284,206 285,000
599,206 945,000

Loans are secured by way of a fixed charge over the individual properties to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

Ordinary A & Ordinary B shares rank pari passu

9. RESERVES
Retained
earnings
£   

At 1 September 2022 (241,074 )
Profit for the year 189,603
At 31 August 2023 (51,471 )

10. RELATED PARTY DISCLOSURES

At the year-end date, included within debtors, amounts falling due within one year, is an amount of £220,401 (2022: £81,632) owed from related entities in which the director, Mr U L Patel, has beneficial interest.

These amounts are unsecured, interest-free and repayable on demand.

At the year-end date, included within creditors, amounts falling due within one year, is an amount of £186,656 (2022: £354,134) owed to the director Mr U L Patel.

At the year-end date, included within creditors, amounts falling due after more than one year, is an amount of £329,160 (2022: £321,494) owed to related entities in which the director, Mr U L Patel has beneficial interest.

These amounts are unsecured, interest-free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is U L Patel.