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REGISTERED NUMBER: 10030793 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Rivermead Dairy Limited

Rivermead Dairy Limited (Registered number: 10030793)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


Rivermead Dairy Limited (Registered number: 10030793)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 625,888 431,762

CURRENT ASSETS
Stocks 5 32,319 29,034
Debtors 6 1,033,709 897,387
Cash at bank and in hand 3,866 3,994
1,069,894 930,415
CREDITORS
Amounts falling due within one year 7 1,006,808 872,795
NET CURRENT ASSETS 63,086 57,620
TOTAL ASSETS LESS CURRENT LIABILITIES 688,974 489,382

CREDITORS
Amounts falling due after more than one year 8 (311,866 ) (255,370 )

PROVISIONS FOR LIABILITIES (141,974 ) (103,634 )
NET ASSETS 235,134 130,378

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 235,034 130,278
SHAREHOLDERS' FUNDS 235,134 130,378

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 18 November 2024 and were signed on its behalf by:




Mr G C B Davis - Director


Rivermead Dairy Limited (Registered number: 10030793)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Rivermead Dairy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10030793

Registered office: Westcott Farm
Westleigh
Tiverton
Devon
EX16 7EW

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.

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 - 15% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - Straight line over 6 years

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
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


Rivermead Dairy Limited (Registered number: 10030793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 - 255,791 3,196 460,172 719,159
Additions 41,801 22,521 624 241,936 306,882
Disposals - - - (39,600 ) (39,600 )
At 31 March 2024 41,801 278,312 3,820 662,508 986,441
DEPRECIATION
At 1 April 2023 - 84,619 3,002 199,776 287,397
Charge for year - 36,514 395 75,847 112,756
Eliminated on disposal - - - (39,600 ) (39,600 )
At 31 March 2024 - 121,133 3,397 236,023 360,553
NET BOOK VALUE
At 31 March 2024 41,801 157,179 423 426,485 625,888
At 31 March 2023 - 171,172 194 260,396 431,762

5. STOCKS
2024 2023
£    £   
Stocks 32,319 29,034

Rivermead Dairy Limited (Registered number: 10030793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,012,494 860,651
Directors' loan accounts - 22,990
VAT 20,507 13,315
Prepayments and accrued income 708 431
1,033,709 897,387

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 117,992 130,552
Hire purchase contracts 128,222 88,311
Trade creditors 693,802 641,830
Social security and other taxes 12,641 7,857
Directors' loan accounts 49,906 -
Accrued expenses 4,245 4,245
1,006,808 872,795

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 28,000 52,000
Hire purchase contracts 283,866 203,370
311,866 255,370

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 52,000 76,000
Hire purchase agreements 412,088 291,680
464,088 367,680

Bank loans are secured against assets held personally by the director. Hire purchase agreements are secured against each of the assets they are financing.

Rivermead Dairy Limited (Registered number: 10030793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr G C B Davis
Balance outstanding at start of year 22,989 12,952
Amounts advanced 37,344 31,037
Amounts repaid (60,000 ) (21,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 333 22,989

Interest has been charged at the HM Revenue & Customs official rate.