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Registration number: 15402118

Riverstone Hotels Limited

Unaudited Filleted Financial Statements

for the Period from 10 January 2024 to 31 December 2024

 

Riverstone Hotels Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Riverstone Hotels Limited

(Registration number: 15402118)
Balance Sheet as at 31 December 2024

Note

2024
£

Current assets

 

Stocks

4

866,453

Debtors

5

76,789

Cash at bank and in hand

 

441

 

943,683

Creditors: Amounts falling due within one year

6

(105,479)

Total assets less current liabilities

 

838,204

Creditors: Amounts falling due after more than one year

6

(838,105)

Net assets

 

99

Capital and reserves

 

Called up share capital

7

99

Shareholders' funds

 

99

For the financial period ending 31 December 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2025 and signed on its behalf by:
 

.........................................
N P Mellor
Director

 

Riverstone Hotels Limited

Notes to the Unaudited Financial Statements for the Period from 10 January 2024 to 31 December 2024

1

General information

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

The address of its registered office is:
10 Wrens Court
48 Victoria Road
Birmingham
B72 1SY

These financial statements were authorised for issue by the Board on 7 August 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.

Disclosure of long or short period

These financial statements are presented for a period of less than one year in order to secure that the end of the company’s reporting period coincides with that of its parent entity,

Going concern

Having considered all available information about the future, which is at least, but is not limited to, 12 months from the date when these financial statements are authorised for issue, the directors have concluded that it is appropriate to prepare these financial statements on a going concern basis. In forming this conclusion, the directors have relied on the continuing financial support of the company's related parties.

Judgements

Preparation of the financial statements requires management to make significant judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the change takes place if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

Riverstone Hotels Limited

Notes to the Unaudited Financial Statements for the Period from 10 January 2024 to 31 December 2024

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.

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.

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.

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.

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.

 

Riverstone Hotels Limited

Notes to the Unaudited Financial Statements for the Period from 10 January 2024 to 31 December 2024

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 under contracts of service (including directors) during the period, was 0.

4

Stocks

2024
£

Work in progress

866,453

The company's work in progress comprises real estate which is in the process of development and which, once completed, will be held for resale.

Included within work in progress is £13,016 of capitalised interest.

5

Debtors

Current

Note

2024
£

Amounts owed by related parties

9

99

Other debtors

 

76,690

   

76,789

The amount shown as Other debtors represents recoverable VAT.

 

Riverstone Hotels Limited

Notes to the Unaudited Financial Statements for the Period from 10 January 2024 to 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

92,463

Accruals and deferred income

13,016

105,479

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

838,105

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

99

99

   

8

Loans and borrowings

Non-current loans and borrowings

Note

2024
£

Other borrowings

9

838,105

 

Riverstone Hotels Limited

Notes to the Unaudited Financial Statements for the Period from 10 January 2024 to 31 December 2024

9

Related party transactions

Loans to related parties

 

Parent

2024
£

Advanced

99

At end of period

99

Terms of loans to related parties

An unsecured, interest-free loan, repayable on demand.
 

Loans from related parties

 

Entities with joint control or significant influence

2024
£

Advanced

838,105

At end of period

838,105

Terms of loans from related parties

The loans from related parties are unsecured. 70% of the loans are subject to interest at 10% per annum and repayable on 27 August 2029. 30% of the loans are interest-free and repayable on demand. At the end of the reporting period, the balance of accrued interest payable on the above loans was £13,016.
 

10

Parent and ultimate parent undertaking

The company's immediate parent is controlled jointly by Whiteberry II Edinburgh Limited and Swale Capital Management Limited (both being companies incorporated in England).

 The company's immediate parent is Rivercap Properties LLP, incorporated in England.