Registered number
03863739
Riverside Plant and Truck Hire Limited
Filleted Accounts
31 October 2024
Riverside Plant and Truck Hire Limited
Registered number: 03863739
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,658 12,022
Current assets
Debtors 4 69,385 62,023
Cash at bank and in hand 4,716 18,297
74,102 80,320
Creditors: amounts falling due within one year 5 (50,072) (62,543)
Net current assets 24,029 17,777
Net assets 42,688 29,799
Capital and reserves
Called up share capital 2 2
Profit and loss account 42,685 29,797
Shareholders' funds 42,687 29,799
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Lincoln
Director
Approved by the board on 3 March 2025
Riverside Plant and Truck Hire Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Straight line
Fixtures, fittings, tools and equipment 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 12,699 129,500 142,199
Additions - 13,000 13,000
At 31 October 2024 12,699 142,500 155,199
Depreciation
At 1 November 2023 11,310 118,867 130,177
Charge for the year 347 6,017 6,364
At 31 October 2024 11,657 124,884 136,541
Net book value
At 31 October 2024 1,042 17,616 18,658
At 31 October 2023 1,389 10,633 12,022
4 Debtors 2024 2023
£ £
Trade debtors 60,391 55,155
Other debtors 8,994 6,868
69,385 62,023
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,578 13,717
Taxation and social security costs 2,717 7,287
Other creditors 39,777 41,539
50,072 62,543
6 Other information
Riverside Plant and Truck Hire Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Trinity Courtyard
St Peters Basin
Newcastle Upon Tyne
NE6 1TS
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