0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 03764622 2023-11-01 2024-10-31 03764622 2024-10-31 03764622 2023-10-31 03764622 2022-11-01 2023-10-31 03764622 2023-10-31 03764622 2022-10-31 03764622 core:PlantMachinery 2023-11-01 2024-10-31 03764622 core:MotorVehicles 2023-11-01 2024-10-31 03764622 bus:LeadAgentIfApplicable 2023-11-01 2024-10-31 03764622 bus:Director4 2023-11-01 2024-10-31 03764622 core:LandBuildings 2023-10-31 03764622 core:PlantMachinery 2023-10-31 03764622 core:MotorVehicles 2023-10-31 03764622 core:LandBuildings 2024-10-31 03764622 core:PlantMachinery 2024-10-31 03764622 core:MotorVehicles 2024-10-31 03764622 core:WithinOneYear 2024-10-31 03764622 core:WithinOneYear 2023-10-31 03764622 core:ShareCapital 2024-10-31 03764622 core:ShareCapital 2023-10-31 03764622 core:SharePremium 2024-10-31 03764622 core:SharePremium 2023-10-31 03764622 core:RevaluationReserve 2024-10-31 03764622 core:RevaluationReserve 2023-10-31 03764622 core:RetainedEarningsAccumulatedLosses 2024-10-31 03764622 core:RetainedEarningsAccumulatedLosses 2023-10-31 03764622 core:LandBuildings 2023-10-31 03764622 core:PlantMachinery 2023-10-31 03764622 core:MotorVehicles 2023-10-31 03764622 bus:Director1 2023-11-01 2024-10-31 03764622 bus:SmallEntities 2023-11-01 2024-10-31 03764622 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 03764622 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 03764622 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03764622 bus:FullAccounts 2023-11-01 2024-10-31 03764622 core:OfficeEquipment 2023-11-01 2024-10-31 03764622 core:OfficeEquipment 2023-10-31 03764622 core:OfficeEquipment 2024-10-31
COMPANY REGISTRATION NUMBER: 03764622
River Don Properties Limited
Filleted Unaudited Financial Statements
31 October 2024
River Don Properties Limited
Financial Statements
Year ended 31 October 2024
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
River Don Properties Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of River Don Properties Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of River Don Properties Limited for the year ended 31 October 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of River Don Properties Limited, as a body, in accordance with the terms of our engagement letter dated 18 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of River Don Properties Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than River Don Properties Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that River Don Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of River Don Properties Limited. You consider that River Don Properties Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of River Don Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
22 July 2025
River Don Properties Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,148,038
2,161,879
Current assets
Debtors
5
296,238
388,176
Cash at bank and in hand
216,164
96,651
---------
---------
512,402
484,827
Creditors: amounts falling due within one year
6
230,558
266,949
---------
---------
Net current assets
281,844
217,878
------------
------------
Total assets less current liabilities
2,429,882
2,379,757
Provisions
Taxation including deferred tax
261,582
265,241
------------
------------
Net assets
2,168,300
2,114,516
------------
------------
River Don Properties Limited
Statement of Financial Position (continued)
31 October 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
39,000
39,000
Investment property fair value revaluation reserve
1,089,849
1,089,849
Profit and loss account
1,038,451
984,667
------------
------------
Shareholders funds
2,168,300
2,114,516
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 July 2025 , and are signed on behalf of the board by:
Mr T Wells
Director
Company registration number: 03764622
River Don Properties Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent and services supplied, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
20% straight line
Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the revaluation reserve unless a deficit, or its' reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This is in accordance with SSAP 19 which, unlike regulations made under the provisions of The Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the Act is required in order to present a true and fair view.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 November 2023
2,100,000
100,458
35,572
6,448
2,242,478
Additions
1,809
1,809
------------
---------
--------
-------
------------
At 31 October 2024
2,100,000
102,267
35,572
6,448
2,244,287
------------
---------
--------
-------
------------
Depreciation
At 1 November 2023
67,481
6,670
6,448
80,599
Charge for the year
8,425
7,225
15,650
------------
---------
--------
-------
------------
At 31 October 2024
75,906
13,895
6,448
96,249
------------
---------
--------
-------
------------
Carrying amount
At 31 October 2024
2,100,000
26,361
21,677
2,148,038
------------
---------
--------
-------
------------
At 31 October 2023
2,100,000
32,977
28,902
2,161,879
------------
---------
--------
-------
------------
The directors have reviewed the carrying value of the company property at the year end date and, in knowledge of the current market conditions and following an upward revaluation in the 2021 year, consider that the total portfolio valuation of £2,100,000 remains appropriate to the open market valuation at the year end date (2023: £2,100,000). No depreciation has been charged in relation to the investment property.
5. Debtors
2024
2023
£
£
Trade debtors
32,615
35,591
Other debtors
263,623
352,585
---------
---------
296,238
388,176
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,570
3,570
Corporation tax
29,335
31,177
Social security and other taxes
12,166
Other creditors
197,653
220,036
---------
---------
230,558
266,949
---------
---------
7. Directors' advances, credits and guarantees
The company was under the effective combined control of the three directors, Mr M J Wells, Mr T Wells and Mr O Wells at the balance sheet date and throughout the year. Two of the directors also have an interest in Wells Properties. At 31 October 2024, a debtor loan balance of £208,629 (2023 £208,629), existed in relation to Wells Properties. A loan account also exists as between Stainless UK Limited and River Don Properties Limited in relation to which a balance was outstanding at the end of the year of £24,000 (2023 £78,700) being a liability on Stainless UK Ltd to repay to River Don Properties Limited . A loan account exists as between the company and the directors and participators in the company. As at 31 October 2024, the balance of monies owing by the company to the various participators amounted to a combined total of £168,280 (2023 £185,662) in this regard, being reflected in other creditors as at note 7 above. There are no formal terms applicable to the above loans and interest is not being charged.