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Registered Number: 09398475
England and Wales

 

 

 

FIVE RIVERS FINANCIAL SERVICES LIMITED


Annual Report and Unaudited Filleted Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Rakesh Kumar Bains
Registered Number 09398475
Registered Office 22 Langley High Street
Oldbury
West Midlands
B69 4SL
Accountants Prism Certified Accountants Ltd
4 Lochmore Close
Hinckley
LE10 0TY
1
Director's report and financial statements
The director presents his report and accounts for the year ended 31 January 2024.
Director
The director who served the company throughout the year was as follows:
Rakesh Kumar Bains
Statement of director's responsibilities
The director is responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
  • select suitable accounting policies and then apply them consistently
  • make judgements and estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The director is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board.


----------------------------------
Rakesh Kumar Bains
Director

Date approved: 31 October 2024
2
  2024   2023
    £ £   £ £
Fixed assets   174      233 
Current assets 25,880      21,896   
Creditors: amount falling due within one year (16,659)     (15,719)  
Net current assets   9,221      6,177 
Total assets less current liabilities   9,395      6,410 
Creditors: amount falling due after more than one year   (13,165)     (13,398)
Net assets   (3,770)     (6,988)
 

         
Capital and reserves   (3,770)     (6,988)
 
NOTES TO THE ACCOUNTS

General Information
Five Rivers Financial Services Limited is a private company, limited by shares, registered in England and Wales, registration number 09398475, registration address 22 Langley High Street, Oldbury, West Midlands, B69 4SL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Director's advances, credit and guarantees

As at 31 January 2024, remuneration of nil was paid to the director R K Bains. The director is the only key management personnel of the Company.

Included within Current Assets: amounts owed by directors (within one year) is a directors loan of £19,173 owed by R K Bains. The loan is interest free and repayable on demand.

The company received bounce bank loan of £17,547 from HSBC bank at interest rate of 2.5% and it will be repayable in 9 years. As at 31 January 2023, the loan balance was the amount of £15,308. The balance has been disclosed within current and non current creditors.

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 2).


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


--------------------------------
Rakesh Kumar Bains
Director
3