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COMPANY REGISTRATION NUMBER: 03261496
Rivingtonhark Limited
Filleted Unaudited Financial Statements
31 August 2024
Rivingtonhark Limited
Financial Statements
Year ended 31 August 2024
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Rivingtonhark Limited
Officers and Professional Advisers
The board of directors
D.A. Lewis
M.R. Harvey
Registered office
4th Floor
58-59 Great Marlborough Street
London
W1F 7JY
Accountants
Higgins Fairbairn & Co
Chartered accountants
4th Floor
58-59 Great Marlborough Street
London
W1F 7JY
Rivingtonhark Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Rivingtonhark Limited
Year ended 31 August 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 August 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Higgins Fairbairn & Co Chartered accountants
4th Floor 58-59 Great Marlborough Street London W1F 7JY
17 January 2025
Rivingtonhark Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
5,208
5,914
Current assets
Debtors
6
1,131,180
952,933
Cash at bank and in hand
1,295,919
902,699
------------
------------
2,427,099
1,855,632
Creditors: amounts falling due within one year
7
506,690
444,576
------------
------------
Net current assets
1,920,409
1,411,056
------------
------------
Total assets less current liabilities
1,925,617
1,416,970
------------
------------
Net assets
1,925,617
1,416,970
------------
------------
Rivingtonhark Limited
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
£
Capital and reserves
Share Capital
150
150
Profit and loss account
1,925,467
1,416,820
------------
------------
Shareholders funds
1,925,617
1,416,970
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 January 2025 , and are signed on behalf of the board by:
D.A. Lewis
Director
Company registration number: 03261496
Rivingtonhark Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of the principal activity.
Income tax
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, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% reducing balance
Office equipment
-
33% Reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 16 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 September 2023
1,617
15,681
17,298
Additions
1,859
1,859
-------
--------
--------
At 31 August 2024
1,617
17,540
19,157
-------
--------
--------
Depreciation
At 1 September 2023
534
10,850
11,384
Charge for the year
357
2,208
2,565
-------
--------
--------
At 31 August 2024
891
13,058
13,949
-------
--------
--------
Carrying amount
At 31 August 2024
726
4,482
5,208
-------
--------
--------
At 31 August 2023
1,083
4,831
5,914
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
305,068
163,344
Other debtors
826,112
789,589
------------
---------
1,131,180
952,933
------------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
45,428
27,951
Corporation tax
170,987
158,743
Social security and other taxes
117,281
156,118
Other creditors
172,994
101,764
---------
---------
506,690
444,576
---------
---------
8. Directors' advances, credits and guarantees
Included in other debtors are directors' loan of £450,000.David Lewis repaid £200,000 and Mark Williams repaid £150,000 on 3rd of October 2024,whereas Mark Harvey's loan of £100,000 remained outstanding.
9. Related party transactions
As at the year end, an amount of £161,442 (2023:£476,916) was due from Liverpool SJ Towers Partnership Ltd which is under the common directorship and shareholding.