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Registered number: 12977512
Riverbourne Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12977512
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 949 1,266
Investments 5 84 84
1,033 1,350
CURRENT ASSETS
Cash at bank and in hand 29,848 21,511
29,848 21,511
Creditors: Amounts Falling Due Within One Year 6 (23,703 ) (15,123 )
NET CURRENT ASSETS (LIABILITIES) 6,145 6,388
TOTAL ASSETS LESS CURRENT LIABILITIES 7,178 7,738
NET ASSETS 7,178 7,738
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 7,177 7,737
SHAREHOLDERS' FUNDS 7,178 7,738
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gary Bourne
Director
21 April 2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Riverbourne Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12977512 . The registered office is Redwood Nursery Lane, Sheldwich Lees, Faversham, ME13 0DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Investments
Investments are included in the balance sheet at cost less any provision for impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2023 3,000
As at 31 October 2024 3,000
Depreciation
As at 1 November 2023 1,734
Provided during the period 317
As at 31 October 2024 2,051
Net Book Value
As at 31 October 2024 949
As at 1 November 2023 1,266
5. Investments
Unlisted
£
Cost
As at 1 November 2023 84
As at 31 October 2024 84
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 84
As at 1 November 2023 84
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 5,140
Corporation tax 3,530 1,046
Accruals and deferred income 1,267 648
Director's loan account 18,906 8,289
23,703 15,123
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.000 each 1 1
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8. Directors Advances, Credits and Guarantees
Included within Credtors are the following loans due to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Gary Bourne 8,289 14,136 12,183 - 6,336
The above loan is unsecured, interest free, repayable on demand and ranks equally with other unsecured creditors of the company.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Gary Bourne by virtue of his ownership of 100% of the issued share capital in the company.
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