2 2 River Wheels Limited 05319662 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is property investment and development. Digita Accounts Production Advanced 6.30.9574.0 true 05319662 2024-01-01 2024-12-31 05319662 2024-12-31 05319662 bus:OrdinaryShareClass1 2024-12-31 05319662 core:RetainedEarningsAccumulatedLosses 2024-12-31 05319662 core:ShareCapital 2024-12-31 05319662 core:CurrentFinancialInstruments 2024-12-31 05319662 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05319662 bus:SmallEntities 2024-01-01 2024-12-31 05319662 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05319662 bus:FilletedAccounts 2024-01-01 2024-12-31 05319662 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05319662 bus:RegisteredOffice 2024-01-01 2024-12-31 05319662 bus:Director1 2024-01-01 2024-12-31 05319662 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05319662 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05319662 bus:Agent1 2024-01-01 2024-12-31 05319662 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05319662 core:ShareCapital 2024-01-01 2024-12-31 05319662 core:MotorCars 2024-01-01 2024-12-31 05319662 core:PlantMachinery 2024-01-01 2024-12-31 05319662 countries:AllCountries 2024-01-01 2024-12-31 05319662 2023-12-31 05319662 core:RetainedEarningsAccumulatedLosses 2023-12-31 05319662 core:ShareCapital 2023-12-31 05319662 2023-01-01 2023-12-31 05319662 2023-12-31 05319662 bus:OrdinaryShareClass1 2023-12-31 05319662 core:CurrentFinancialInstruments 2023-12-31 05319662 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05319662 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05319662 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05319662 core:ShareCapital 2023-01-01 2023-12-31 05319662 2022-12-31 05319662 core:RetainedEarningsAccumulatedLosses 2022-12-31 05319662 core:ShareCapital 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05319662

River Wheels Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

River Wheels Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

River Wheels Limited

Company Information

Director

Mr J R S Lloyd

Registered office

Unit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

Accountants

Elysium
Chartered AccountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

River Wheels Limited

(Registration number: 05319662)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

20,080

26,774

Investment property

4

700,146

700,146

 

720,226

726,920

Current assets

 

Stocks

5

182,530

182,530

Debtors

6

750

779

Cash at bank and in hand

 

1,033,290

1,020,398

 

1,216,570

1,203,707

Creditors: Amounts falling due within one year

7

(158,087)

(159,310)

Net current assets

 

1,058,483

1,044,397

Total assets less current liabilities

 

1,778,709

1,771,317

Provisions for liabilities

(17,157)

(17,157)

Net assets

 

1,761,552

1,754,160

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,761,551

1,754,159

Shareholders' funds

 

1,761,552

1,754,160

For the financial year ending 31 December 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 financial statements have been prepared and 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 29 July 2025
 

.........................................
Mr J R S Lloyd
Director

 

River Wheels Limited

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

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

1

1,754,158

1,754,159

Profit for the year

-

56,393

56,393

Dividends

-

(49,000)

(49,000)

At 31 December 2024

1

1,761,551

1,761,552

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1

1,769,522

1,769,523

Profit for the year

-

25,637

25,637

Dividends

-

(41,000)

(41,000)

At 31 December 2023

1

1,754,159

1,754,160

 

River Wheels Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

The principal place of business is:
The Rigging Loft
Kings Lane
Sway
Hampshire
SO41 6BQ

These financial statements were authorised for issue by the director on 29 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Tax

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

 

River Wheels Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Motor Vehicle

25% reducing balance

Investment property

Investment property is valued at fair value being the best estimate of the director at the balance sheet date.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

River Wheels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

River Wheels Limited

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

4

Investment properties

2024
£

At 1 January

700,146

At 31 December

700,146

The director revalued the investment properties held at 31 December 2019. This vauluation was based upon the directors best estimates. The director does not believe that the values have changed materially as at 31 December 2023.

There has been no valuation of investment property by an independent valuer.

5

Stocks

2024
£

2023
£

Work in progress

182,530

182,530

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

779

Prepayments

750

-

 

750

779

 

River Wheels Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

23,444

16,250

Accruals and deferred income

2,170

1,250

Other creditors

132,473

141,810

158,087

159,310

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

1

1

1

1

       

9

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend of £49,000 (2023 - £41,000) per each Ordinary £1 share

49,000

41,000