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REGISTERED NUMBER: 08078970 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

RIVERSIDE ENGINEERING INC. LIMITED

RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIVERSIDE ENGINEERING INC. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr P A Pichowski



REGISTERED OFFICE: 1Unit 1 Admiral Court
Nelson Road
Dartmouth
Devon
TQ6 9HU



REGISTERED NUMBER: 08078970 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: The Cooperative Bank
160 Armada Way
Plymouth
Devon
PL1 1LF

RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,015 1,015
Tangible assets 5 8,431 11,821
9,446 12,836

CURRENT ASSETS
Stocks 6 2,750 2,934
Debtors 7 25,479 32,198
Cash at bank 25,708 15,783
53,937 50,915
CREDITORS
Amounts falling due within one year 8 28,184 28,695
NET CURRENT ASSETS 25,753 22,220
TOTAL ASSETS LESS CURRENT LIABILITIES 35,199 35,056

CREDITORS
Amounts falling due after more than one
year

9

(7,853

)

(13,963

)

PROVISIONS FOR LIABILITIES (1,602 ) (3,009 )
NET ASSETS 25,744 18,084

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,644 17,984
SHAREHOLDERS' FUNDS 25,744 18,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

BALANCE SHEET - continued
31 MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:





Mr P A Pichowski - Director


RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Riverside Engineering Inc. 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill Moorings Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 1,015 1,015 2,030
AMORTISATION
At 1 June 2023
and 31 May 2024 1,015 - 1,015
NET BOOK VALUE
At 31 May 2024 - 1,015 1,015
At 31 May 2023 - 1,015 1,015

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 9,344 23,304 8,319 40,967
DEPRECIATION
At 1 June 2023 8,041 13,767 7,338 29,146
Charge for year 261 2,385 744 3,390
At 31 May 2024 8,302 16,152 8,082 32,536
NET BOOK VALUE
At 31 May 2024 1,042 7,152 237 8,431
At 31 May 2023 1,303 9,537 981 11,821

6. STOCKS
2024 2023
£    £   
Stocks 2,750 2,934

RIVERSIDE ENGINEERING INC. LIMITED (REGISTERED NUMBER: 08078970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,868 15,406
Directors' current accounts 19,940 16,792
Prepayments 671 -
25,479 32,198

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,110 5,959
Trade creditors 8,650 7,645
Tax 6,410 8,319
VAT 4,926 4,811
Accrued expenses 2,088 1,961
28,184 28,695

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 7,853 13,963

10. OTHER FINANCIAL COMMITMENTS

At 31/05/2024, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £7,537 (2023 £11,843).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr P A Pichowski
Balance outstanding at start of year 16,792 (2,564 )
Amounts advanced 21,088 35,269
Amounts repaid (17,940 ) (15,913 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,940 16,792

Loans are unsecured and repayable on demand. Interest is charged at 2.5% in the year on debit loan balances.