Riverview Energy Ltd
Notes to the Financial Statements
For the year ended 30 September 2024
Riverview Energy Ltd is a private company limited by shares and is incorporated in England with the registration number 13280862. The address of the registered office is Century Wharf, Crayford Creek, Dartford, DA1 4QG.
The financial statements are presented for the 12 month period ended 30 September 2024. The comparative period presented is for the 9 months ended 30 September 2023 and therefore the amounts presented (including the related notes) are not entirely comparable.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The financial statements are rounded to the nearest pound.
The following principal accounting policies have been applied:
Although the exact timings are not yet known at the date of approval of these financial statements, the Directors have determined that they ultimately intend to liquidate the Company. These financial statements are therefore prepared on a basis other than going concern.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is pounds sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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