Rivington Property Developments Ltd 10538533 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property development activities Digita Accounts Production Advanced 6.30.9574.0 true true 10538533 2023-01-01 2023-12-31 10538533 2023-12-31 10538533 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-12-31 10538533 core:RetainedEarningsAccumulatedLosses 2023-12-31 10538533 core:ShareCapital 2023-12-31 10538533 core:CurrentFinancialInstruments 2023-12-31 10538533 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10538533 bus:SmallEntities 2023-01-01 2023-12-31 10538533 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10538533 bus:FullAccounts 2023-01-01 2023-12-31 10538533 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10538533 bus:RegisteredOffice 2023-01-01 2023-12-31 10538533 bus:Director1 2023-01-01 2023-12-31 10538533 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-01-01 2023-12-31 10538533 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10538533 countries:England 2023-01-01 2023-12-31 10538533 2022-12-31 10538533 2022-01-01 2022-12-31 10538533 2022-12-31 10538533 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-12-31 10538533 core:RetainedEarningsAccumulatedLosses 2022-12-31 10538533 core:ShareCapital 2022-12-31 10538533 core:CurrentFinancialInstruments 2022-12-31 10538533 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10538533

Rivington Property Developments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Rivington Property Developments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Rivington Property Developments Ltd

(Registration number: 10538533)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

336,608

336,608

Other financial assets

50

50

 

336,658

336,658

Current assets

 

Debtors

5

203,142

447,875

Cash at bank and in hand

 

66,359

70,198

 

269,501

518,073

Creditors: Amounts falling due within one year

6

(611,713)

(871,889)

Net current liabilities

 

(342,212)

(353,816)

Net liabilities

 

(5,554)

(17,158)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(5,556)

(17,160)

Shareholders' deficit

 

(5,554)

(17,158)

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 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 directors acknowledge their 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.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr S Cantor
Director

 

Rivington Property Developments Ltd

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

1

General information

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

The address of its registered office is:
Suite 323, Peel House
30 The Downs
Altrincham
Cheshire
WA14 2PX

These financial statements were authorised for issue by the Board on 24 September 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rivington Property Developments Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Rivington Property Developments Ltd

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

4

Investment properties

2023
£

At 1 January

336,608

At 31 December

336,608

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

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

-

241,553

Other debtors

 

203,142

206,322

 

203,142

447,875

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

563,958

824,134

Accruals and deferred income

 

1,230

1,230

Other creditors

 

46,525

46,525

 

611,713

871,889

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2