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
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
Rivco Limited
Statement of financial position
as at 31 August 2024
Intangible assets
105,000
140,000
Tangible assets
4,611
4,816
Cash at bank and in hand
11,091
4,085
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
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
Rivco Limited
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 in subsidiary undertakings are recognised at cost.
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Rivco Limited
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
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.
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.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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
Charge for the period
35,000
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
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
At 31 August 2024
1,769
306
2,536
4,611
At 31 May 2023
2,359
130
2,327
4,816
Amounts falling due within one year
Trade debtors
560,954
540,213
Accrued income and prepayments
18,489
21,543
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
Trade creditors
8,860
14,034
Taxes and social security
36,757
17,142
Other creditors
256,240
625,477
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
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
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
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).