BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to advance community development and conflict resolution in the North West of Ireland and its environs (but not exclusively) through the effective use of various art mediums; and to advance any other exclusively charitable purpose as the directors may, from time to time, decide in accordance with the law of charity. 27 September 2024 0 0 NI603836 2024-07-31 NI603836 2023-07-31 NI603836 2022-07-31 NI603836 2023-08-01 2024-07-31 NI603836 2022-08-01 2023-07-31 NI603836 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI603836 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI603836 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI603836 uk-bus:FullAccounts 2023-08-01 2024-07-31 NI603836 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI603836 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI603836 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI603836 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI603836 uk-bus:FRS102 2023-08-01 2024-07-31 NI603836 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI603836 uk-core:IntangibleAssetsOtherThanGoodwill 2023-07-31 NI603836 uk-core:IntangibleAssetsOtherThanGoodwill 2024-07-31 NI603836 uk-core:WithinOneYear 2024-07-31 NI603836 uk-core:WithinOneYear 2023-07-31 NI603836 uk-core:OtherMiscellaneousReserve 2023-07-31 NI603836 uk-core:OtherMiscellaneousReserve 2023-08-01 2024-07-31 NI603836 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI603836 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-07-31 NI603836 uk-core:OtherDeferredTax 2024-07-31 NI603836 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-07-31 NI603836 uk-core:OtherMiscellaneousReserve 2024-07-31 NI603836 2023-08-01 2024-07-31 NI603836 uk-bus:Director1 2023-08-01 2024-07-31 NI603836 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI603836
 
 
River Row Arts Company Limited
(A company limited by guarantee, not having a share capital)
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2024
River Row Arts Company Limited
(A company limited by guarantee, not having a share capital)
Company Registration Number: NI603836
BALANCE SHEET
as at 31 July 2024

2024 2023
Notes £ £
 
Current Assets
Cash and cash equivalents 4,923 6,768
Creditors: amounts falling due within one year 5 (591) (391)
───────── ─────────
Net Current Assets 4,332 6,377
───────── ─────────
Total Assets less Current Liabilities 4,332 6,377
 
Provisions for liabilities 6 1,087 -
 
Government grants 7 (5,315) (7,410)
───────── ─────────
Net Assets/(Liabilities) 104 (1,033)
═════════ ═════════
 
Reserves
Retained surplus/(deficit) 104 (1,033)
───────── ─────────
Equity attributable to owners of the company 104 (1,033)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 27 September 2024 and signed on its behalf by
           
           
________________________________          
Mr. Peter McLaughlin          
Director          
           



River Row Arts Company Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
River Row Arts Company Limited is a company limited by guarantee incorporated in Northern Ireland. 9 Centenary Park, Omagh, Co Tyrone, BT78 5HH, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Website
Website are valued at cost less accumulated amortisation.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
     
3. Intangible assets
  Website
   
  £
Cost
At 1 August 2023 900
  ─────────
 
At 31 July 2024 900
  ─────────
Amortisation
 
At 31 July 2024 900
  ─────────
Net book value
At 31 July 2024 -
  ═════════
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 August 2023 10,864 10,864
  ───────── ─────────
 
At 31 July 2024 10,864 10,864
  ───────── ─────────
Depreciation
At 1 August 2023 10,864 10,864
  ───────── ─────────
 
At 31 July 2024 10,864 10,864
  ───────── ─────────
Net book value
At 31 July 2024 - -
  ═════════ ═════════
       
5. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 391 391
Accruals 200 -
  ───────── ─────────
  591 391
  ═════════ ═════════
         
6. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start - - -
Released during the financial year (1,087) (1,087) -
  ───────── ───────── ─────────
At financial year end (1,087) (1,087) -
  ═════════ ═════════ ═════════
       
7. Government Grants Deferred 2024 2023
  £ £
 
At 1 August 2023 44,700 44,700
  ───────── ─────────
Amortisation
At 1 August 2023 (37,290) (36,464)
Amortised in financial year (2,095) (826)
  ───────── ─────────
 
At 31 July 2024 (39,385) (37,290)
  ───────── ─────────
Net book value
At 31 July 2024 5,315 7,410
  ═════════ ═════════
At 1 August 2023 7,410 8,236
  ═════════ ═════════
 
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.