Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr M Collins 02/09/2016 Mr S Collins 08/11/2013 Mr R Cranston 08/11/2013 24 September 2024 The principal activity of the company during the financial year was the manufacture and sale of hot tubs, spas and whirlpools. 08768348 2023-12-31 08768348 bus:Director1 2023-12-31 08768348 bus:Director2 2023-12-31 08768348 bus:Director3 2023-12-31 08768348 2022-12-31 08768348 core:CurrentFinancialInstruments 2023-12-31 08768348 core:CurrentFinancialInstruments 2022-12-31 08768348 core:Non-currentFinancialInstruments 2023-12-31 08768348 core:Non-currentFinancialInstruments 2022-12-31 08768348 core:ShareCapital 2023-12-31 08768348 core:ShareCapital 2022-12-31 08768348 core:SharePremium 2023-12-31 08768348 core:SharePremium 2022-12-31 08768348 core:RetainedEarningsAccumulatedLosses 2023-12-31 08768348 core:RetainedEarningsAccumulatedLosses 2022-12-31 08768348 core:Goodwill 2022-12-31 08768348 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-12-31 08768348 core:Goodwill 2023-12-31 08768348 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 08768348 core:LandBuildings 2022-12-31 08768348 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 08768348 core:Vehicles 2022-12-31 08768348 core:FurnitureFittings 2022-12-31 08768348 core:OfficeEquipment 2022-12-31 08768348 core:LandBuildings 2023-12-31 08768348 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 08768348 core:Vehicles 2023-12-31 08768348 core:FurnitureFittings 2023-12-31 08768348 core:OfficeEquipment 2023-12-31 08768348 bus:OrdinaryShareClass1 2023-12-31 08768348 bus:OrdinaryShareClass2 2023-12-31 08768348 bus:OrdinaryShareClass3 2023-12-31 08768348 bus:OrdinaryShareClass4 2023-12-31 08768348 bus:OrdinaryShareClass5 2023-12-31 08768348 2023-01-01 2023-12-31 08768348 bus:FilletedAccounts 2023-01-01 2023-12-31 08768348 bus:SmallEntities 2023-01-01 2023-12-31 08768348 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08768348 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08768348 bus:Director1 2023-01-01 2023-12-31 08768348 bus:Director2 2023-01-01 2023-12-31 08768348 bus:Director3 2023-01-01 2023-12-31 08768348 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 08768348 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-01-01 2023-12-31 08768348 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 08768348 core:Vehicles 2023-01-01 2023-12-31 08768348 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 08768348 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 08768348 2022-01-01 2022-12-31 08768348 core:Goodwill 2023-01-01 2023-12-31 08768348 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 08768348 core:LandBuildings 2023-01-01 2023-12-31 08768348 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 08768348 core:FurnitureFittings 2023-01-01 2023-12-31 08768348 core:OfficeEquipment 2023-01-01 2023-12-31 08768348 core:LandBuildings 1 2023-01-01 2023-12-31 08768348 core:ConstructionInProgressAssetsUnderConstruction 1 2023-01-01 2023-12-31 08768348 core:Vehicles 1 2023-01-01 2023-12-31 08768348 core:FurnitureFittings 1 2023-01-01 2023-12-31 08768348 core:OfficeEquipment 1 2023-01-01 2023-12-31 08768348 1 2023-01-01 2023-12-31 08768348 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08768348 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 08768348 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 08768348 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass4 2022-01-01 2022-12-31 08768348 bus:OrdinaryShareClass5 2023-01-01 2023-12-31 08768348 bus:OrdinaryShareClass5 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08768348 (England and Wales)

RIVIERA HOT TUBS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

RIVIERA HOT TUBS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

RIVIERA HOT TUBS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
RIVIERA HOT TUBS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr M Collins
Mr S Collins
Mr R Cranston
REGISTERED OFFICE Unit 9 Wentworth Road
Heathfield Industrial Estate
Newton Abbot
TQ12 6TL
England
United Kingdom
COMPANY NUMBER 08768348 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
RIVIERA HOT TUBS LIMITED

BALANCE SHEET

As at 31 December 2023
RIVIERA HOT TUBS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 1,435
Tangible assets 4 75,747 87,184
75,747 88,619
Current assets
Stocks 5 280,251 286,853
Debtors 6 152,854 133,243
Cash at bank and in hand 10,996 40,223
444,101 460,319
Creditors: amounts falling due within one year 7 ( 441,700) ( 432,329)
Net current assets 2,401 27,990
Total assets less current liabilities 78,148 116,609
Creditors: amounts falling due after more than one year 8 ( 58,259) ( 32,954)
Provision for liabilities ( 10,513) ( 16,536)
Net assets 9,376 67,119
Capital and reserves
Called-up share capital 9 104 104
Share premium account 74,899 74,899
Profit and loss account ( 65,627 ) ( 7,884 )
Total shareholders' funds 9,376 67,119

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 financial statements of Riviera Hot Tubs Limited (registered number: 08768348) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Mr M Collins
Director
RIVIERA HOT TUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RIVIERA HOT TUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Riviera Hot Tubs Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 9 Wentworth Road, Heathfield Industrial Estate, Newton Abbot, TQ12 6TL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 value added tax. The company recognises revenue based on its value of the goods and services provided to date.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Website costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 50 years straight line
Assets under construction not depreciated
Vehicles 20 % reducing balance
Fixtures and fittings 6.67 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 11

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 January 2023 159,386 7,580 166,966
At 31 December 2023 159,386 7,580 166,966
Accumulated amortisation
At 01 January 2023 158,809 6,722 165,531
Charge for the financial year 577 858 1,435
At 31 December 2023 159,386 7,580 166,966
Net book value
At 31 December 2023 0 0 0
At 31 December 2022 577 858 1,435

4. Tangible assets

Land and buildings Assets under construc-
tion
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2023 0 41,844 2,748 96,863 11,613 153,068
Additions 41,844 0 0 2,610 0 44,454
Reclassified upon completion 0 ( 41,844) 0 0 0 ( 41,844)
At 31 December 2023 41,844 0 2,748 99,473 11,613 155,678
Accumulated depreciation
At 01 January 2023 0 0 1,781 55,796 8,307 65,884
Charge for the financial year 837 0 193 11,716 1,301 14,047
At 31 December 2023 837 0 1,974 67,512 9,608 79,931
Net book value
At 31 December 2023 41,007 0 774 31,961 2,005 75,747
At 31 December 2022 0 41,844 967 41,067 3,306 87,184

5. Stocks

2023 2022
£ £
Stocks 280,251 286,853

6. Debtors

2023 2022
£ £
Trade debtors 105,794 65,728
Amounts owed by directors 10,816 15,728
Prepayments 32,639 24,076
Other debtors 3,605 27,711
152,854 133,243

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 20,487 13,636
Trade creditors 244,564 106,604
Corporation tax 4,922 10,806
Other taxation and social security 55,867 36,011
Other creditors 115,860 265,272
441,700 432,329

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 58,259 32,954

Bank loans are secured by personal guarantees given by the directors.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
1 Ordinary D share of £ 1.00 1 1
104 104

10. Financial commitments

Other financial commitments

2023 2022
£ £
The total amount of financial commitments not included in the balance sheet relating to operating lease commitments are 68,833 58,145

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Advances to the Directors 10,816 15,728

12. Dividends

The directors acknowledges that dividends were declared during the year. At the time the dividends were declared, the directors were not aware that there were insufficient profits available for distribution. The directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.