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Registered number: 05520585










RIVELIN ESTATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
RIVELIN ESTATES LIMITED
REGISTERED NUMBER: 05520585

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,528
13,986

Investments
 5 
164,811
249,141

Investment property
 6 
372,467
351,419

  
549,806
614,546

Current assets
  

Debtors: amounts falling due within one year
 7 
37,864
33,549

Cash at bank and in hand
  
12,884
2,831

  
50,748
36,380

Creditors: amounts falling due within one year
 8 
(407,036)
(467,215)

Net current liabilities
  
 
 
(356,288)
 
 
(430,835)

Total assets less current liabilities
  
193,518
183,711

  

Net assets
  
193,518
183,711


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
193,508
183,701

  
193,518
183,711


Page 1

 
RIVELIN ESTATES LIMITED
REGISTERED NUMBER: 05520585
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




R N Haworth
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Rivelin Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office address is 2 Ashgate Road, Chesterfield, Derbyshire, S40 4AA. The principal activity of the Company throughout the year continued to be that of development of building projects, property developers and consultancy services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 August 2023
17,591
1,362
18,953


Additions
-
749
749



At 31 July 2024

17,591
2,111
19,702



Depreciation


At 1 August 2023
3,605
1,362
4,967


Charge for the year on owned assets
2,098
109
2,207



At 31 July 2024

5,703
1,471
7,174



Net book value



At 31 July 2024
11,888
640
12,528



At 31 July 2023
13,986
-
13,986

Page 6

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 August 2023
249,141


Additions
26,255


Disposals
(124,011)


Revaluations
13,426



At 31 July 2024
164,811






Net book value



At 31 July 2024
164,811



At 31 July 2023
249,141


6.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
351,419


Additions at cost
21,048



At 31 July 2024
372,467

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
375,717
351,419

Page 7

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
5,568
2,720

Deferred taxation
32,296
30,829

37,864
33,549



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
93,107

Trade creditors
288
-

Other taxation and social security
1,826
494

Other creditors
402,096
369,210

Accruals and deferred income
2,826
4,404

407,036
467,215


Included in other creditors there is £402,096 (2023: £369,210) which is owed to the director.
The investec loan is secured on the assets in the custody account within fixed asset investments.

Page 8

 
RIVELIN ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Deferred taxation




2024


£






At beginning of year
30,829


Charged to profit or loss
1,467



At end of year
32,296

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(11,780)
(12,228)

Tax losses carried forward
44,076
43,057

32,296
30,829

 
Page 9