Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10804692 Ricky Price iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10804692 2023-06-30 10804692 2024-06-30 10804692 2023-07-01 2024-06-30 10804692 frs-core:CurrentFinancialInstruments 2024-06-30 10804692 frs-core:ComputerEquipment 2024-06-30 10804692 frs-core:ComputerEquipment 2023-07-01 2024-06-30 10804692 frs-core:ComputerEquipment 2023-06-30 10804692 frs-core:MotorVehicles 2024-06-30 10804692 frs-core:MotorVehicles 2023-07-01 2024-06-30 10804692 frs-core:MotorVehicles 2023-06-30 10804692 frs-core:PlantMachinery 2024-06-30 10804692 frs-core:PlantMachinery 2023-07-01 2024-06-30 10804692 frs-core:PlantMachinery 2023-06-30 10804692 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10804692 frs-bus:CompanyLimitedByGuarantee 2023-07-01 2024-06-30 10804692 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10804692 frs-bus:SmallEntities 2023-07-01 2024-06-30 10804692 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10804692 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10804692 frs-bus:Director1 2023-07-01 2024-06-30 10804692 1 2023-07-01 2024-06-30 10804692 frs-countries:EnglandWales 2023-07-01 2024-06-30 10804692 2022-06-30 10804692 2023-06-30 10804692 2022-07-01 2023-06-30 10804692 frs-core:CurrentFinancialInstruments 2023-06-30 10804692 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 10804692 1 2022-07-01 2023-06-30
Registered number: 10804692
Riverside Timber Recycling Project
Unaudited Financial Statements
For The Year Ended 30 June 2024
Abacus Accountancy
105 Courtyard Studios
Lakes Innovation Centre
Braintree
Essex
CM7 3AN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10804692
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,675 84,770
85,675 84,770
CURRENT ASSETS
Debtors 5 87,192 97,904
Cash at bank and in hand 171,986 172,151
259,178 270,055
Creditors: Amounts Falling Due Within One Year 6 (37,894 ) (32,656 )
NET CURRENT ASSETS (LIABILITIES) 221,284 237,399
TOTAL ASSETS LESS CURRENT LIABILITIES 306,959 322,169
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,278 ) (16,106 )
NET ASSETS 290,681 306,063
Income and Expenditure Account 290,681 306,063
MEMBERS' FUNDS 290,681 306,063
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Ricky Price
Director
20/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Riverside Timber Recycling Project is a private company, limited by guarantee, incorporated in England & Wales, registered number 10804692 . The registered office is Passingford Bridge Mill, 261 Ongar Road, Stapleford Tawney, Romford, Essex, RM4 1RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
10 11
10 11
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 8,858 140,355 1,266 150,479
Additions - 43,525 - 43,525
Disposals - (24,995 ) - (24,995 )
As at 30 June 2024 8,858 158,885 1,266 169,009
Depreciation
As at 1 July 2023 4,190 60,253 1,266 65,709
Provided during the period 1,168 27,393 - 28,561
Disposals - (10,936 ) - (10,936 )
As at 30 June 2024 5,358 76,710 1,266 83,334
Net Book Value
As at 30 June 2024 3,500 82,175 - 85,675
As at 1 July 2023 4,668 80,102 - 84,770
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,192 95,904
Other debtors 2,000 2,000
87,192 97,904
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 2,523 2,487
Taxation and social security 35,371 30,169
37,894 32,656
7. Share Capital
Page 4