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REGISTERED NUMBER: 04979179 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 September 2023

for

Riverside Healthcare Limited

Riverside Healthcare Limited (Registered number: 04979179)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Riverside Healthcare Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: A P Levack
Dr R E Pearson
Ms H Rhoden





REGISTERED OFFICE: C/o Cheswold Park Hospital
Cheswold Lane
Doncaster
South Yorkshire
DN5 8AR





REGISTERED NUMBER: 04979179 (England and Wales)





AUDITORS: KJA Kilner Johnson Ltd (Statutory Auditors)
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

Riverside Healthcare Limited (Registered number: 04979179)

Strategic Report
for the Year Ended 30 September 2023

The principal activity of the company is that of operators of mental health care facilities, principally for the NHS.

REVIEW OF BUSINESS
The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

Turnover for the year ended 30 September 2023 is £19,774,346 compared to £18,228,362 in 2022, an increase of 8.5%, There is an operating profit for the current year of £1,174,244 compared to £811,842 in 2022.

The directors report the sale of the fixed assets of the company on 1 October 2024 to the NHS, for a consideration of £4,100,000. The employees were transferred to the NHS as a result of the sale.

PRINCIPAL RISKS AND UNCERTAINTIES
The company’s largest customer is NHS England which continues to experience downward budgetary pressure and this represents a continuing risk for the company. This is managed by providing high quality well-trained staff to ensure that we offer quality care to patients and by trying to decrease the time taken for patients to sufficiently recover to be able to move along a recovery path.

The company keeps exposure to credit risk and cash flow risk to a minimum by agreeing early payment terms with its customer which is government funded.

The company’s objective is to minimise the risks and uncertainties to the level of the marketplace in which it operates and achieves this through its quality of service compared to other providers in the market place. The company adopts rigorous internal controls, benchmarking and review procedures to achieve this.

The directors consider that an analysis of key performance indicators is not necessary to understand the financial performance of the company.

EMPLOYEE INVOLVEMENT
Within the grounds of commercial confidentiality, information is disseminated to all levels of staff about matters that affect the progress of the company and are of interest to them as employees.

DISABLED EMPLOYEES
The company gives equal opportunity to the employment of disabled persons where practicable.

It is the policy of the company that training, career development and promotion opportunities should be available to all employees.

ON BEHALF OF THE BOARD:





A P Levack - Director


27 November 2024

Riverside Healthcare Limited (Registered number: 04979179)

Report of the Directors
for the Year Ended 30 September 2023

The directors present their report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of operators of mental healthcare facilities.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2023.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors during the year under review were:

A P Levack - appointed 28.3.23
Dr R E Pearson
Ms H Rhoden - appointed 8.6.23
J G Rhoden - resigned 12.3.23

The directors holding office at 30 September 2023 did not hold any beneficial interest in the issued share capital of the company at 1 October 2022 (or date of appointment if later) or 30 September 2023.

The directors sadly record the death of Mr J G Rhoden on 12 March 2023. Mr A P Levack was re-appointed to the Board on 28 March 2023.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they 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 directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

Riverside Healthcare Limited (Registered number: 04979179)

Report of the Directors
for the Year Ended 30 September 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





A P Levack - Director


27 November 2024

Report of the Independent Auditors to the Members of
Riverside Healthcare Limited

Disclaimer of opinion
_
We were engaged to audit the financial statements of Riverside Healthcare Limited (the ‘company’) for the year ended 30 September 2023 which comprise the income statement, balance sheet, statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

Basis for disclaimer of opinion
We were unable to obtain sufficient appropriate audit evidence in respect of the company's contractual income including agreed contract uplifts for the provision of mental health services. This was due to the business being sold on 1 October 2024 and access to the records being unavailable following the sale. We were unable to confirm or verify by alternative means concerning the turnover recorded in the income statement. Consequently we were unable to verify trade debtors in the balance sheet.

We were unable to obtain sufficient appropriate audit evidence for some of the amounts recognised as credit note provisions in respect of renegotiated contract prices for the provision of mental health services. This was due to the lack of adequate supporting evidence on credit notes raised and rates applied. We could not confirm the provision by alternative means. Consequently, we were unable to verify the credit note provision included within trade debtors.

We were unable to obtain sufficient appropriate audit evidence for plant, equipment and depreciation as the amounts disclosed in the financial statements did not agree to underlying records. We were unable to confirm plant and equipment and depreciation by alternative means. Consequently, we were unable to verify plant and equipment and depreciation in the financial statements.

Conclusions relating to going concern
Due to the significance of the matters described in the basis for disclaimer of opinion section of our report, we are unable to conclude on the financial statements as a whole and are therefore unable to conclude if the use of going concern basis is appropriate.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form an opinion as to whether:

1) the information given in the strategic report and directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements;

and

2) the strategic report and directors’ report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Riverside Healthcare Limited


Matters on which we are required to report by exception
Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit performed subject to the pervasive limitation described above, we have not identified material misstatements in the strategic report or the directors’ report.

Arising from the limitation of our work referred to above:
1) we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
2) we were unable to determine whether adequate accounting records have been kept or whether the financial statements agree to underlying records.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
1) returns adequate for our audit have not been received from branches not visited by us; or
2) certain disclosures of directors’ remuneration specified by law are not made; or
3) the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Riverside Healthcare Limited


Auditors' responsibilities for the audit of the financial statements
Our responsibility is to conduct an audit of the company’s financial statements in accordance with International Standards on Auditing (UK) and to issue an auditor’s report.

However, because of the matter described in the basis for disclaimer of opinion section of our report, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

While planning our audit, we have enquired of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage.

We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us.

While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities.

The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that require additional reporting.

These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Raza Effendi MBA FCA (Senior Statutory Auditor)
for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors)
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

27 November 2024

Riverside Healthcare Limited (Registered number: 04979179)

Income Statement
for the Year Ended 30 September 2023

2023 2022
Notes £    £   

TURNOVER 19,774,346 18,228,362

Cost of sales 11,198,646 10,128,123
GROSS PROFIT 8,575,700 8,100,239

Administrative expenses 7,401,456 7,288,397
OPERATING PROFIT 4 1,174,244 811,842

Interest receivable and similar income 5,229 10,741
1,179,473 822,583

Interest payable and similar expenses 6 191,152 179,413
PROFIT BEFORE TAXATION 988,321 643,170

Tax on profit 7 344,907 278,677
PROFIT FOR THE FINANCIAL YEAR 643,414 364,493

Riverside Healthcare Limited (Registered number: 04979179)

Other Comprehensive Income
for the Year Ended 30 September 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 643,414 364,493


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

643,414

364,493

Riverside Healthcare Limited (Registered number: 04979179)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 2,493,075 2,531,152

CURRENT ASSETS
Stocks 9 10,000 10,000
Debtors 10 4,605,967 4,371,488
Cash at bank and in hand 626,002 2,250,371
5,241,969 6,631,859
CREDITORS
Amounts falling due within one year 11 9,241,279 4,091,952
NET CURRENT (LIABILITIES)/ASSETS (3,999,310 ) 2,539,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,506,235

)

5,071,059

CREDITORS
Amounts falling due after more than one
year

12

-

(7,247,642

)

PROVISIONS FOR LIABILITIES 13 (144,342 ) (117,408 )
NET LIABILITIES (1,650,577 ) (2,293,991 )

CAPITAL AND RESERVES
Called up share capital 14 1,000 1,000
Retained earnings 15 (1,651,577 ) (2,294,991 )
SHAREHOLDERS' FUNDS (1,650,577 ) (2,293,991 )

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





A P Levack - Director


Riverside Healthcare Limited (Registered number: 04979179)

Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2021 1,000 (2,659,484 ) (2,658,484 )

Changes in equity
Total comprehensive income - 364,493 364,493
Balance at 30 September 2022 1,000 (2,294,991 ) (2,293,991 )

Changes in equity
Total comprehensive income - 643,414 643,414
Balance at 30 September 2023 1,000 (1,651,577 ) (1,650,577 )

Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Riverside Healthcare 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern:

Liabilities exceed assets at the Balance Sheet date by £1,650,577 (2022 - £2,293,991). However, as set out in Note 18, the company transferred its staff and sold its fixed assets to the NHS on 1 October 2024 and ceased trading.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

Turnover is measured at the full value of consideration received or receivable, excluding discounts and rebates. The company is not registered for value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

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 Income Statement, 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.


Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

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
2023 2022
£    £   
Wages and salaries 11,664,507 11,415,515
Social security costs 1,193,836 1,081,847
Other pension costs 287,224 258,458
13,145,567 12,755,820

The average number of employees during the year was as follows:
2023 2022

Directors - 2
Employees 448 440
448 442

2023 2022
£    £   
Directors' remuneration - 550,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 45,012 39,568
Other operating leases 1,997,872 1,997,872
Depreciation - owned assets 165,300 167,089
Auditors' remuneration 21,000 19,800

Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. EXCEPTIONAL ITEMS
2023 2022
£    £   
Exceptional items (240,596 ) -

The exceptional item relates to the unrecoverable amount from the related party loan owed by Riverside Residential Services Limited.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest on Taxation 191,152 179,413

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 317,973 161,269

Deferred tax 26,934 117,408
Tax on profit 344,907 278,677

UK corporation tax has been charged at 22.01% (2022 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 988,321 643,170
Profit multiplied by the standard rate of corporation tax in the UK of
22.008% (2022 - 19%)

217,510

122,202

Effects of:
Expenses not deductible for tax purposes 52,590 34,962
Utilisation of tax losses - (1,914 )
Deferred taxation 26,934 117,408
Other timing differences 47,873 6,019
Total tax charge 344,907 278,677

Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 2,369,201 1,626,226 52,176 4,047,603
Additions 1,400 125,823 - 127,223
At 30 September 2023 2,370,601 1,752,049 52,176 4,174,826
DEPRECIATION
At 1 October 2022 559,270 923,347 33,834 1,516,451
Charge for year 36,199 124,515 4,586 165,300
At 30 September 2023 595,469 1,047,862 38,420 1,681,751
NET BOOK VALUE
At 30 September 2023 1,775,132 704,187 13,756 2,493,075
At 30 September 2022 1,809,931 702,879 18,342 2,531,152

9. STOCKS
2023 2022
£    £   
Consumables 10,000 10,000

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 536,617 1,607,590
Amounts owed by group undertakings 473,987 464,778
Other debtors 36,070 58,389
Amount owing by related party 700,000 1,230,237
Directors' current accounts 266,202 547,792
Tax 266,503 262,878
Prepayments and accrued income 2,326,588 199,824
4,605,967 4,371,488

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 262,980 216,650
Tax 7,502,409 1,661,269
Social security and other taxes 326,113 360,459
Other creditors 114,175 53,488
Directors' current accounts 314,144 -
Accruals and deferred income 721,458 1,800,086
9,241,279 4,091,952

Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Tax and accrued interest - 7,247,642

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 144,342 117,408

Deferred
tax
£   
Balance at 1 October 2022 117,408
Accelerated capital allowances 26,934
Balance at 30 September 2023 144,342

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

15. RESERVES
Retained
earnings
£   

At 1 October 2022 (2,294,991 )
Profit for the year 643,414
At 30 September 2023 (1,651,577 )

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Dr R E Pearson
Balance outstanding at start of year 547,792 537,051
Amounts advanced 5,220 10,741
Amounts repaid (286,810 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 266,202 547,792

Interest was charged to R E Pearson at the Official Rate amounting to £5,220 (2022 - £10,741).

Riverside Healthcare Limited (Registered number: 04979179)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

17. RELATED PARTY DISCLOSURES

The company has made an interest free loan to Riverside Residential Services Ltd, a company in which J G Rhoden and A P Levack are directors and shareholders. As at 30 September 2023, the company was owed £700,000 (2022 - £1,230,237).

The following transactions were also undertaken by the company with the directors:

J G Rhoden - Rent payable £998,936 (2022 - £998,936). £178,989 was owing at the year end. (2022 - £359,839)

A P Levack - Rent payable £998,936 (2022 - £998,936). £178,990 was owing at the year end. (2022 - £359,839)

18. POST BALANCE SHEET EVENTS

The company transferred its staff and sold its fixed assets to the NHS on 1 October 2024, for a consideration of £4,100,000. The company ceased trading from this date.

19. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party. Denlev Limited is the ultimate parent company.