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 the retail sale in non-specialised stores with food,beverages or tobacco predominating. 23 October 2024 NI656218 2024-07-31 NI656218 2023-07-31 NI656218 2022-07-31 NI656218 2023-08-01 2024-07-31 NI656218 2022-08-01 2023-07-31 NI656218 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI656218 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI656218 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI656218 uk-bus:AbridgedAccounts 2023-08-01 2024-07-31 NI656218 uk-core:ShareCapital 2024-07-31 NI656218 uk-core:ShareCapital 2023-07-31 NI656218 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI656218 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI656218 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI656218 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI656218 uk-bus:FRS102 2023-08-01 2024-07-31 NI656218 uk-core:Goodwill 2023-08-01 2024-07-31 NI656218 uk-core:Land 2023-08-01 2024-07-31 NI656218 uk-core:PlantMachinery 2023-08-01 2024-07-31 NI656218 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI656218 uk-core:MotorVehicles 2023-08-01 2024-07-31 NI656218 uk-core:Goodwill 2023-07-31 NI656218 uk-core:Goodwill 2024-07-31 NI656218 2023-08-01 2024-07-31 NI656218 uk-bus:Director1 2023-08-01 2024-07-31 NI656218 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Riverside Retail Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2024



Riverside Retail Ltd
Company Registration Number: NI656218
ABRIDGED BALANCE SHEET
as at 31 July 2024

2024 2023
Notes £ £
 
Fixed Assets
 
Intangible assets 4 - 16,020
 
Tangible assets 5 316,216 372,250
───────── ─────────
Fixed Assets 316,216 388,270
───────── ─────────
 
Current Assets
 
Stocks 108,973 103,639
 
Debtors 900 5,667
 
Cash at bank and in hand 118,690 109,203
───────── ─────────
228,563 218,509
───────── ─────────
 
Creditors: amounts falling due within one year (440,707) (276,715)
───────── ─────────
 
Net Current Liabilities (212,144) (58,206)
───────── ─────────
 
Total Assets less Current Liabilities 104,072 330,064
 
Creditors:
 
amounts falling due after more than one year (22,931) (308,049)
 
 
Provisions for liabilities 11,647 3,380
───────── ─────────
Net Assets 92,788 25,395
═════════ ═════════
 
 
Capital and Reserves
 
Called up share capital 100 100
 
Retained earnings 92,688 25,295
───────── ─────────
Shareholders' Funds 92,788 25,395
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged 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 23 October 2024 and signed on its behalf by
           
           
           
________________________________          
Paula Clarke          
Director          
           



Riverside Retail Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
Riverside Retail Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office of the company is 7 Ballynahinch Street, Hillsborough, Co. Down, BT26 6AW, Northern Ireland 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 company's registration number is NI656218.

The financial statements have been presented in Pound (£) which is also the functional currency of the company.

The financial statements cover the individual entity, Riverside Retail Ltd for the financial year ended 31st July 2024.
         
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 financial 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.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
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:
 
  Long leasehold property - 15% Reducing Balance
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
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.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
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.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Directors 2 2
Employees 29 29
  ───────── ─────────
  31 31
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 August 2023 80,100 80,100
  ───────── ─────────
 
At 31 July 2024 80,100 80,100
  ───────── ─────────
Amortisation
At 1 August 2023 64,080 64,080
Charge for financial year 16,020 16,020
  ───────── ─────────
At 31 July 2024 80,100 80,100
  ───────── ─────────
Net book value
At 31 July 2024 - -
  ═════════ ═════════
At 31 July 2023 16,020 16,020
  ═════════ ═════════
             
5. Tangible assets
  Long Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 August 2023 410,443 25,591 17,401 20,995 474,430
Additions - 3,314 - - 3,314
  ───────── ───────── ───────── ───────── ─────────
At 31 July 2024 410,443 28,905 17,401 20,995 477,744
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 August 2023 80,965 10,376 7,340 3,499 102,180
Charge for the financial year 49,422 3,043 2,509 4,374 59,348
  ───────── ───────── ───────── ───────── ─────────
At 31 July 2024 130,387 13,419 9,849 7,873 161,528
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 July 2024 280,056 15,486 7,552 13,122 316,216
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 July 2023 329,478 15,215 10,061 17,496 372,250
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Financial commitments and guarantees
 
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension contributions are charged to the profit and loss in the year that they occur. There is £5,028 owed to the fund at the 31st July 2024. This is included in Creditors: amounts falling due within one year.