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REGISTERED NUMBER: 00960009 (England and Wales)















Financial Statements

for the Year Ended 30 September 2023

for

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Contents of the Financial Statements
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED

Company Information
for the year ended 30 September 2023







Directors: Mr J Harris
Mrs S L Farrow
Mr J B Harris
Ms N F Murch





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 00960009 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Balance Sheet
30 September 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 784,270 673,474

Current assets
Stocks 20,270 18,253
Debtors 5 628,444 876,716
Cash at bank and in hand 40,164 110,977
688,878 1,005,946
Creditors
Amounts falling due within one year 6 693,378 919,180
Net current (liabilities)/assets (4,500 ) 86,766
Total assets less current liabilities 779,770 760,240

Provisions for liabilities 52,669 36,885
Net assets 727,101 723,355

Capital and reserves
Called up share capital 8 3,157 3,157
Share premium 10,728 10,728
Revaluation reserve 9 199,168 199,168
Capital redemption reserve 325 325
Retained earnings 513,723 509,977
Shareholders' funds 727,101 723,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Balance Sheet - continued
30 September 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




Mrs S L Farrow - Director Mr J B Harris - Director




Mr J Harris - Director Ms N F Murch - Director


FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements
for the year ended 30 September 2023


1. Statutory information

Frank Rivett & Sons (Funeral Directors) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provisions. A full line by line review of stock is carried out at the end of each month. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remains a risk that the provisions do not match the level of stock which ultimately prove to be obsolete.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Not depreciated
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 12.5% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are integral part of the company’s cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


2. Accounting policies - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Freehold property
Freehold properties are included in the balance sheet at their open market value and the aggregate surplus or deficit is transferred to the revaluation reserve. No depreciation is provided.

3. Employees and directors

The average number of employees during the year was 15 (2022 - 15 ) .

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


4. Tangible fixed assets
Freehold Improvements Plant and
property to property machinery
£ £ £
Cost or valuation
At 1 October 2022 476,860 381,237 79,258
Additions - - 1,790
Disposals - - -
At 30 September 2023 476,860 381,237 81,048
Depreciation
At 1 October 2022 - 271,186 58,401
Charge for year - 40,618 5,662
Eliminated on disposal - - -
At 30 September 2023 - 311,804 64,063
Net book value
At 30 September 2023 476,860 69,433 16,985
At 30 September 2022 476,860 110,051 20,857

Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost or valuation
At 1 October 2022 197,965 87,055 1,222,375
Additions 21,179 170,000 192,969
Disposals - (6,900 ) (6,900 )
At 30 September 2023 219,144 250,155 1,408,444
Depreciation
At 1 October 2022 169,713 49,601 548,901
Charge for year 7,414 25,568 79,262
Eliminated on disposal - (3,989 ) (3,989 )
At 30 September 2023 177,127 71,180 624,174
Net book value
At 30 September 2023 42,017 178,975 784,270
At 30 September 2022 28,252 37,454 673,474

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


4. Tangible fixed assets - continued

Cost or valuation at 30 September 2023 is represented by:

Freehold Improvements Plant and
property to property machinery
£ £ £
Valuation in 2017 233,067 - -
Cost 243,793 381,237 81,048
476,860 381,237 81,048

Fixtures
and Motor
fittings vehicles Totals
£ £ £
Valuation in 2017 - - 233,067
Cost 219,144 250,155 1,175,377
219,144 250,155 1,408,444

The directors have revalued freehold property to £476,860 on 30 September 2017 and consider this to be the value as on 30 September 2023 as well.

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£
Cost or valuation
At 1 October 2022
and 30 September 2023 18,973
Depreciation
At 1 October 2022 16,127
Charge for year 712
At 30 September 2023 16,839
Net book value
At 30 September 2023 2,134
At 30 September 2022 2,846

FRANK RIVETT & SONS (FUNERAL DIRECTORS)
LIMITED (REGISTERED NUMBER: 00960009)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 31,654 20,321
Other debtors 596,790 856,395
628,444 876,716

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 180,822 202,998
Trade creditors 151,233 241,141
Taxation and social security 51,109 127,890
Other creditors 310,214 347,151
693,378 919,180

Bank overdrafts and bank loans are secured by way of fixed and floating charge over the company's assets and undertaking.

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 77,430 93,930
Between one and five years 332,400 350,650
In more than five years 430,159 489,339
839,989 933,919

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
3,157 Ordinary £1 3,157 3,157

9. Reserves
Revaluation
reserve
£
At 1 October 2022
and 30 September 2023 199,168