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Company Registration No. 02929026 (England and Wales)
Rivco Limited Unaudited accounts for the period from 1 June 2023 to 31 August 2024
Rivco Limited Unaudited accounts Contents
Page
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Rivco Limited Company Information for the period from 1 June 2023 to 31 August 2024
Directors
Gary Moseley Franck De Bruyne Steven Auld
Company Number
02929026 (England and Wales)
Registered Office
Scell-It Unit 7 Beacon Business Park, Beacon Way Stafford Staffordshire ST18 0DG England
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Rivco Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
105,000 
140,000 
Tangible assets
4,611 
4,816 
109,611 
144,816 
Current assets
Inventories
5,503 
8,699 
Debtors
789,194 
1,056,455 
Cash at bank and in hand
11,091 
4,085 
805,788 
1,069,239 
Creditors: amounts falling due within one year
(439,610)
(693,354)
Net current assets
366,178 
375,885 
Total assets less current liabilities
475,789 
520,701 
Creditors: amounts falling due after more than one year
(7,971)
(41,666)
Provisions for liabilities
Deferred tax
(1,153)
(1,039)
Net assets
466,665 
477,996 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
465,665 
476,996 
Shareholders' funds
466,665 
477,996 
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
Steven Auld Director Company Registration No. 02929026
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Rivco Limited Notes to the Accounts for the period from 1 June 2023 to 31 August 2024
1
Statutory information
Rivco Limited is a private company, limited by shares, registered in England and Wales, registration number 02929026. The registered office is Scell-It, Unit 7, Beacon Business Park, Beacon Way, Stafford, Staffordshire, ST18 0DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Investments
Investments in subsidiary undertakings are recognised at cost.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill arising on the acquisition of 100% of the share capital of Arpel Limited in 2023 is being written off over 5 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Fixtures & fittings
33% on cost
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Rivco Limited Notes to the Accounts for the period from 1 June 2023 to 31 August 2024
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 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
140,000 
At 31 August 2024
140,000 
Amortisation
At 1 June 2023
- 
Charge for the period
35,000 
At 31 August 2024
35,000 
Net book value
At 31 August 2024
105,000 
At 31 May 2023
140,000 
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Rivco Limited Notes to the Accounts for the period from 1 June 2023 to 31 August 2024
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
55,760 
118,961 
3,490 
178,211 
Additions
- 
441 
2,852 
3,293 
At 31 August 2024
55,760 
119,402 
6,342 
181,504 
Depreciation
At 1 June 2023
53,401 
118,831 
1,163 
173,395 
Charge for the period
590 
265 
2,643 
3,498 
At 31 August 2024
53,991 
119,096 
3,806 
176,893 
Net book value
At 31 August 2024
1,769 
306 
2,536 
4,611 
At 31 May 2023
2,359 
130 
2,327 
4,816 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
560,954 
540,213 
Accrued income and prepayments
18,489 
21,543 
Other debtors
- 
494,699 
579,443 
1,056,455 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
209,751 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,565 
20,000 
VAT
100,934 
11,361 
Trade creditors
8,860 
14,034 
Taxes and social security
36,757 
17,142 
Other creditors
256,240 
625,477 
Accruals
27,254 
5,340 
439,610 
693,354 
Included within Other Creditors is an amount of £254,798 (2023: £445,427) relating to Invoice Finance. The amounts due to Invoice Finance is secured by way of a fixed charge over the Trade Debtors and a floating charge over the other assets.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,971 
41,666 
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Rivco Limited Notes to the Accounts for the period from 1 June 2023 to 31 August 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
1,153 
1,039 
2024 
2023 
£ 
£ 
Provision at start of period
1,039 
536 
Charged to the profit and loss account
114 
503 
Provision at end of period
1,153 
1,039 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 August 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
81,720 
49,156 
Later than one year and not later than five years
153,352 
100,492 
235,072 
149,648 
11
Controlling party
The company is a 100% owned subsidiary of Scell-it (UK) Group Limited whose Registered office is Unit 7 Beacon Business Park, Beacon Way, Stafford, ST18 0DG.
12
Average number of employees
During the period the average number of employees was 10 (2023: 10).
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