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Company No: 03287586 (England and Wales)

RIVERVIEW HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

RIVERVIEW HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

RIVERVIEW HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
RIVERVIEW HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 3 3
3 3
Current assets
Stocks 4 750,000 750,000
Debtors 5 5,212,230 4,785,178
Cash at bank and in hand 256,666 598,596
6,218,896 6,133,774
Creditors: amounts falling due within one year 6 ( 191,443) ( 254,458)
Net current assets 6,027,453 5,879,316
Total assets less current liabilities 6,027,456 5,879,319
Net assets 6,027,456 5,879,319
Capital and reserves
Called-up share capital 7 31,173 31,173
Profit and loss account 5,996,283 5,848,146
Total shareholders' funds 6,027,456 5,879,319

For the financial 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.

Directors' responsibilities:

The financial statements of Riverview Holdings Limited (registered number: 03287586) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M L A Rose
Director
D M Kyte
Director

29 August 2024

RIVERVIEW HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RIVERVIEW HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Riverview Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 2 2
Other investments and loans 1 1
3 3

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 2
At 31 December 2023 2
Carrying value at 31 December 2023 2
Carrying value at 31 December 2022 2

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 1 1
At 31 December 2023 1 1
Carrying value at 31 December 2023 1 1
Carrying value at 31 December 2022 1 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2023
Ownership
31.12.2022
Alphaxa Limited 35 Ballards Lane, London, N3 1XW 35 Ballards Lane, London, N3 1XW Ordinary 100.00% 100.00%
Skywoode Estates Limited 35 Ballards Lane, London, N3 1XW 35 Ballards Lane, London, N3 1XW Ordinary 100.00% 100.00%

4. Stocks

2023 2022
£ £
Stocks 750,000 750,000

5. Debtors

2023 2022
£ £
Other debtors 5,212,230 4,785,178

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 40,287 40,287
Accruals and deferred income 10,281 5,501
Corporation tax 138,349 204,049
Other taxation and social security 1,887 3,982
Other creditors 639 639
191,443 254,458

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
15,586 A ordinary shares of £ 1.00 each 15,586 15,586
15,587 B ordinary shares of £ 1.00 each 15,587 15,587
31,173 31,173