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Registration number: SC112395

Riverside Care Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Riverside Care Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Riverside Care Limited

Company Information

Director

Mr A G Morgan

Company secretary

Mr A J McLean

Registered office

12 Rose Terrace
PERTH
PH1 5HA

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Riverside Care Limited

(Registration number: SC112395)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,265,527

2,313,886

Current assets

 

Debtors

5

192,332

148,431

Cash at bank and in hand

 

5,188

258

 

197,520

148,689

Creditors: Amounts falling due within one year

6

(1,550,984)

(1,578,686)

Net current liabilities

 

(1,353,464)

(1,429,997)

Total assets less current liabilities

 

912,063

883,889

Provisions for liabilities

(159,358)

6,369

Net assets

 

752,705

890,258

Capital and reserves

 

Called up share capital

7

40,000

40,000

Capital redemption reserve

25,000

25,000

Revaluation reserve

370,068

370,068

Retained earnings

317,637

455,190

Shareholders' funds

 

752,705

890,258

 

Riverside Care Limited

(Registration number: SC112395)
Statement of Financial Position as at 31 October 2024

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 July 2025
 

.........................................
Mr A G Morgan
Director

.........................................
Mr A J McLean
Company secretary

 

Riverside Care Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 November 2023

40,000

25,000

370,068

455,190

890,258

Loss for the year

-

-

-

(137,553)

(137,553)

At 31 October 2024

40,000

25,000

370,068

317,637

752,705

Share capital
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 November 2022

40,000

25,000

81,987

(260,003)

(113,016)

Profit for the year

-

-

-

715,193

715,193

Other comprehensive income

-

-

288,081

-

288,081

Total comprehensive income

-

-

288,081

715,193

1,003,274

At 31 October 2023

40,000

25,000

370,068

455,190

890,258

 

Riverside Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
12 Rose Terrace
PERTH
PH1 5HA

The principal place of business is:
Bridge Street
Selkirk
TD7 5BU

These financial statements were authorised for issue by the director on 9 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Riverside Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings Freehold

2% straight line

Equipment

20% straight line

Fixtures, fittings & equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

 

Riverside Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 54 (2023 - 63).

 

Riverside Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

2,300,000

333,369

2,633,369

At 31 October 2024

2,300,000

333,369

2,633,369

Depreciation

At 1 November 2023

-

319,483

319,483

Charge for the year

46,000

2,359

48,359

At 31 October 2024

46,000

321,842

367,842

Carrying amount

At 31 October 2024

2,254,000

11,527

2,265,527

At 31 October 2023

2,300,000

13,886

2,313,886

Included within the net book value of land and buildings above is £2,254,000 (2023 - £2,300,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Property was revalued on 31 January 2024 by an independent valuer.
The method used was market value. The name and qualification of the independent valuer are DM Hall.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,929,931 (2023 - £1,929,931).

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

115,332

61,215

Amounts owed by related parties

73,000

49,500

Other debtors

 

4,000

37,716

   

192,332

148,431

 

Riverside Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

1,238

Trade creditors

 

27,122

24,528

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,486,901

1,527,901

Taxation and social security

 

19,697

18,709

Accruals and deferred income

 

17,264

6,310

 

1,550,984

1,578,686

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

40,000

40,000

40,000

40,000

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

288,081

288,081

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

1,238