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REGISTERED NUMBER: SC654820 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Riverside (Global) Ltd

Riverside (Global) Ltd (Registered number: SC654820)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Riverside (Global) Ltd (Registered number: SC654820)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 4 2,208 2,208
Investment property 5 850,360 950,360
852,568 952,568

CURRENT ASSETS
Debtors 6 2,057,198 1,864,286
Cash at bank 89,351 39,723
2,146,549 1,904,009
CREDITORS
Amounts falling due within one year 7 (602,167 ) (574,078 )
NET CURRENT ASSETS 1,544,382 1,329,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,396,950

2,282,499

CREDITORS
Amounts falling due after more than one
year

8

(425,000

)

(475,000

)
NET ASSETS 1,971,950 1,807,499

CAPITAL AND RESERVES
Called up share capital 1,127,008 1,127,008
Retained earnings 844,942 680,491
1,971,950 1,807,499

Riverside (Global) Ltd (Registered number: SC654820)

Balance Sheet - continued
31 December 2023


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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





Mr R Paterson - Director


Riverside (Global) Ltd (Registered number: SC654820)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Riverside (Global) Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC654820. The registered office is 1 Wheatfield Road, Dunnikier Business Park, Kirkcaldy, Fife, KY1 3PD.

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.

Preparation of consolidated financial statements
The financial statements contain information about Riverside (Global) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Riverside (Global) Ltd (Registered number: SC654820)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2,208
NET BOOK VALUE
At 31 December 2023 2,208
At 31 December 2022 2,208

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 950,360
Disposals (100,000 )
At 31 December 2023 850,360
NET BOOK VALUE
At 31 December 2023 850,360
At 31 December 2022 950,360

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors - 8,400
Amounts owed by group undertakings 1,556,849 1,355,886
Other debtors 349 -
1,557,198 1,364,286

Riverside (Global) Ltd (Registered number: SC654820)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS - continued
31.12.23 31.12.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 500,000 500,000

Aggregate amounts 2,057,198 1,864,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings - 2,100
Taxation and social security 26,243 22,120
Other creditors 575,924 549,858
602,167 574,078

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 425,000 475,000

9. RELATED PARTY DISCLOSURES

Family members of directors/shareholders
Loans due to family members at 31st December 2023: £975,631 (2022: £1,024,858).

Interest of £44,352 was paid to family members during the year ended 31st December 2023 (2022: £22,963). The company also paid £832 in interest to employees who loaned money to the company (2022: £nil).