Riverhead House Estates Limited 04823125 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true false 04823125 2023-08-01 2024-07-31 04823125 2024-07-31 04823125 core:CurrentFinancialInstruments 2024-07-31 04823125 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 04823125 core:FurnitureFittings 2024-07-31 04823125 core:PlantMachinery 2024-07-31 04823125 1 2024-07-31 04823125 bus:SmallEntities 2023-08-01 2024-07-31 04823125 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04823125 bus:FilletedAccounts 2023-08-01 2024-07-31 04823125 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04823125 bus:RegisteredOffice 2023-08-01 2024-07-31 04823125 bus:Director1 2023-08-01 2024-07-31 04823125 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04823125 core:FurnitureFittings 2023-08-01 2024-07-31 04823125 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 04823125 core:PlantMachinery 2023-08-01 2024-07-31 04823125 countries:England 2023-08-01 2024-07-31 04823125 1 2023-08-01 2024-07-31 04823125 2023-07-31 04823125 core:FurnitureFittings 2023-07-31 04823125 core:PlantMachinery 2023-07-31 04823125 1 2023-07-31 04823125 2022-08-01 2023-07-31 04823125 2023-07-31 04823125 core:CurrentFinancialInstruments 2023-07-31 04823125 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04823125 core:FurnitureFittings 2023-07-31 04823125 core:PlantMachinery 2023-07-31 04823125 1 2023-07-31 04823125 1 2022-08-01 2023-07-31 04823125 1 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 04823125

Riverhead House Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Riverhead House Estates Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Riverhead House Estates Limited

(Registration number: 04823125)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,036

Investment property

5

-

797,500

 

-

798,536

Current assets

 

Debtors

6

153

-

Cash at bank and in hand

 

220,722

616

 

220,875

616

Creditors: Amounts falling due within one year

7

(7,720)

(585,868)

Net current assets/(liabilities)

 

213,155

(585,252)

Total assets less current liabilities

 

213,155

213,284

Provisions for liabilities

-

(10,462)

Net assets

 

213,155

202,822

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

213,055

202,722

Shareholders' funds

 

213,155

202,822

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Riverhead House Estates Limited

(Registration number: 04823125)
Statement of Financial Position as at 31 July 2024 (continued)

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 Statement of Comprehensive Income.

Approved and authorised by the director on 11 September 2024
 


Mr S Wilkes
Director

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is property development

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The company ceased to trade on 31 July 2024.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tax

The tax expense for the period comprises deferred 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.

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Fitting, fixtures and equipment

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

The true and fair override provisions of the Companies Act 2006 have been invoked. Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the director believes that the policy of not providing depreciation on the investment property is necessary in order for the financial statements to give a true and fair view. The investment properties are included at their market value.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

8,904

3,070

11,974

Disposals

(8,904)

(3,070)

(11,974)

At 31 July 2024

-

-

-

Depreciation

At 1 August 2023

7,868

3,070

10,938

Eliminated on disposal

(7,868)

(3,070)

(10,938)

At 31 July 2024

-

-

-

Carrying amount

At 31 July 2024

-

-

-

At 31 July 2023

1,036

-

1,036

5

Investment properties

2024
£

At 1 August

797,500

Disposals

(797,500)

At 31 July

-

The valuation of the investment properties have been undertaken by the director based on the market conditions.

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

6

Debtors

2024
£

2023
£

Other debtors

153

-

153

-

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

2,663

1,944

Other creditors

5,057

583,924

7,720

585,868

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. At 31 July 2024 the company had distributable reserves of £213,055 (2023: £171,337).

9

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Repayments to director
£

Other payments made to company by director
£

At 31 July 2024
£

(583,923)

599,994

(21,128)

(5,057)

         
       

 

2023

At 1 August 2022
£

Other payments made to company by director
£

At 31 July 2023
£

(546,168)

(37,755)

(583,923)

 

Riverhead House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

 

10

Financial instruments

Financial assets measured at fair value

Investment properties
The investment properties are included at market value. A provision for deferred tax is included based on the fair value of the properties compared to cost.

The fair value is £Nil (2023 - £797,500) and the change in value included in profit or loss is £Nil (2023 - £(61,900)).