Registered number
03318359
River Path Associates Limited
Filleted Accounts
29 February 2024
River Path Associates Limited
Registered number: 03318359
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,536 4,570
Current assets
Debtors 4 39,534 73,203
Investments held as current assets 5 204,389 -
Cash at bank and in hand 130,474 286,729
374,397 359,932
Creditors: amounts falling due within one year 6 (19,878) (34,107)
Net current assets 354,519 325,825
Total assets less current liabilities 358,055 330,395
Provisions for liabilities (1,021) (1,211)
Net assets 357,034 329,184
Capital and reserves
Called up share capital 101 101
Fair value reserve 4,389 -
Profit and loss account 352,544 329,083
Shareholders' funds 357,034 329,184
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies.
……………………………………
Mr D F Steven
Director
Approved by the board on 22 August 2024
River Path Associates Limited
Statement of Changes in Equity
for the year ended 29 February 2024
Share capital Share premium Fair value reserve
Total
£ £ £ £
At 1 March 2022 101 - - 101
At 28 February 2023 101 - - 101
At 1 March 2023 101 - - 101
Transfer from profit and loss account - - 4,389 4,389
At 29 February 2024 101 - 4,389 4,490
Changes in the Profit and Loss Account are disclosed in the Statement of Income and Retained Earnings, which has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
River Path Associates Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments and investment properties are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the statement of income and retained earnings.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5.00 5.00
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 March 2023 15,574
Additions 572
Disposals (2,374)
At 29 February 2024 13,772
Depreciation
At 1 March 2023 11,004
Charge for the year 1,181
On disposals (1,949)
At 29 February 2024 10,236
Net book value
At 29 February 2024 3,536
At 28 February 2023 4,570
4 Debtors 2024 2023
£ £
Trade debtors 15,122 71,875
Other debtors 24,412 1,328
39,534 73,203
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 204,389 -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 4,389 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 252 485
Taxation and social security costs 10,945 24,031
Other creditors 8,681 9,591
19,878 34,107
7 Other information
River Path Associates Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP.
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