REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st October 2024 |
for |
RIVERSIDE INDUSTRIAL PARK LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st October 2024 |
for |
RIVERSIDE INDUSTRIAL PARK LIMITED |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Contents of the Financial Statements |
for the Year Ended 31st October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RIVERSIDE INDUSTRIAL PARK LIMITED |
Company Information |
for the Year Ended 31st October 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
89 Leigh Road |
Eastleigh |
Hampshire |
SO50 9DQ |
BANKERS: |
Bootle |
Merseyside |
L30 4GB |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Balance Sheet |
31st October 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Balance Sheet - continued |
31st October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Notes to the Financial Statements |
for the Year Ended 31st October 2024 |
1. | STATUTORY INFORMATION |
Riverside Industrial Park Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable in the year and is stated exclusive of value added tax. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Notes to the Financial Statements - continued |
for the Year Ended 31st October 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st November 2023 |
Additions |
At 31st October 2024 |
NET BOOK VALUE |
At 31st October 2024 |
At 31st October 2023 |
Fair value at 31st October 2024 is represented by: |
£ |
Valuation in 2022 | 1,243,246 |
Cost | 4,213,912 |
5,457,158 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 4,213,912 | 3,953,030 |
Investment property was valued on an open market basis on 31st October 2024 by the directors . |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments on account |
Taxation and social security |
Other creditors |
RIVERSIDE INDUSTRIAL PARK LIMITED (REGISTERED NUMBER: 10806364) |
Notes to the Financial Statements - continued |
for the Year Ended 31st October 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to participating interests | 4,307,465 | 3,997,465 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary £1 | £1 | 100 | 100 |
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1st November 2023 | 1,184,801 |
Profit for the year |
At 31st October 2024 | 1,260,703 |
10. | RELATED PARTY DISCLOSURES |
At 31st October 2024 the company owed £3,268,931 (2023: £3,033,331) to Kells Holdings Limited, a company in which Mr E.M. Broderick is a director and majority shareholder. During the year the company repaid development finance of £729,600, and received further funding of £965,200 from Kells Holdings Limited. In addition, £335,105 interest was incurred at a rate of 3% above base rate. |
At 31st October 2024 the company owed £1,038,534 (2023: £964,134) to Wellow Holdings Limited, a company in which Mr D.J. Cousins is a director and majority shareholder. During the year the company repaid development finance of £230,400, and received further funding of £304,800 from Wellow Holdings Limited. In addition, £106,346 interest was incurred at a rate of 3% above base rate. |
11. | ULTIMATE CONTROLLING PARTY |
In the directors opinion there is no ultimate controlling party. |