REGISTERED NUMBER: 02929253 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RIVERSIDE COURT (SALTAIRE) MANAGEMENT

COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr H Annand

Mr A M Barr

Mr C M Cooper

Mr N C Owen

Ms J A Robinson

Mr R Dixon

Mr A Bennett

SECRETARY:

Mr H Annand

REGISTERED OFFICE:

Close House

Giggleswick

Settle

BD24 0EA

REGISTERED NUMBER:

02929253 (England and Wales)

ACCOUNTANTS:

Brosnans

Chartered Accountants

Suite 1, Aireside House

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

FIXED ASSETS

Investment property

4

110,000

110,000

CURRENT ASSETS

Debtors

5

21,249

64,116

Cash at bank and in hand

167,145

115,103

188,394

179,219

CREDITORS

Amounts falling due within one year

6

(19,031

)

(21,858

)

NET CURRENT ASSETS

169,363

157,361

TOTAL ASSETS LESS CURRENT LIABILITIES

279,363

267,361

CAPITAL AND RESERVES

Called up share capital

7

97

97

Other reserves

279,266

267,264

SHAREHOLDERS' FUNDS

279,363

267,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:

Mr A M Barr - Director

1.	STATUTORY INFORMATION

Riverside Court (Saltaire) Management Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover represents service charges receivable equally from the company's 97 members.

INVESTMENT PROPERTY

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

TAXATION

The tax expense represents the sum of the tax currently payable and deferred tax, if applicable.

Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The directors are of the opinion that the company is not carrying on a trade and therefore any surplus arising from the members service charges and associated revenues should not be assessable to Corporation Tax but similarly any deficit will not be allowable for tax purposes. Any investment income earned from outside sources will be assessable to tax at the prevailing rate. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences if applicable, and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LEASES

Ground rents are recognised on a straight line basis over the term of the relevant lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

110,000

NET BOOK VALUE

At 31 December 2024

110,000

At 31 December 2023

110,000

Investment property comprises the freehold interest in the property known as Riverside Court, Saltaire. The fair value of the investment property has been arrived at on an open market value basis by reference to market evidence of transaction prices for similar properties and the rate of return from ground rents on such properties. The valuation has been arrived at internally and has not been provided by an independent valuer.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:

2024

2023

£

£

Cost

76,090

76,090

Accumulated depreciation

(36,528

)

(35,006

)

Carrying amount

39,562

41,084

The surplus arising on the revaluation of the company's investment property would normally be subject to a provision for deferred taxation however no provision is necessary due to Indexation Allowance available against the potential gain.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,140

4,420

Other debtors

16,109

59,696

21,249

64,116

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,678

3,466

Taxation and social security

2,616

2,448

Other creditors

13,737

15,944

19,031

21,858

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

97

Ordinary

1

97

97