Riverflex International Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Riverflex International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11037271 . The registered office is 4 Cross Street, Beeston, Nottingham, NG9 2NX.

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. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.3. 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:

Plant & Machinery	25% Reducing Balance
Computer Equipment	25 % reducing method

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Riverflex International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	50,017	2,742	52,759
Additions	-	1,780	1,780

As at 31 December 2024	50,017	4,522	54,539

Depreciation
As at 1 January 2024	50,017	817	50,834
Provided during the period	-	926	926

As at 31 December 2024	50,017	1,743	51,760

Net Book Value
As at 31 December 2024	-	2,779	2,779

As at 1 January 2024	-	1,925	1,925

5. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	101

As at 31 December 2024	101

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	101

As at 1 January 2024	101

6. Stocks

	2024	2023
	£	£
Stock	-	773

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Riverflex International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	26,400	239,642
Inter-company loans	397,970	12,883
Other debtors	875	1,309
Corporation tax recoverable assets	-	27,235
VAT	1,349	7,126

	426,594	288,195

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	218,883	296,581
Corporation tax	75,769	31,445
Other creditors	200,000	-
Accruals and deferred income	1,766	4,440

	496,418	332,466

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

10. Post Balance Sheet Events

In September 2025, the shareholders of the company declared a dividend of GBP 181.176 in respect of the ordinary shares. This dividend is not recognised as a liability in these financial statements as it was declared after the balance sheet date.

11. Related Party Transactions

Riverflex Spain Ltd

There were no intercompany loan balances for Riverflex Spain Ltd as at 31 December 2024 (2023: £144).

Riverflex Trading Turkey Danismanli

There were no intercompany loan balances for Riverflex Trading Turkey Danismanli as at 31 December 2024 (2023: £2,804).

Riverflex UK Trading Ltd

Included in trade debtors there were related party balances receivable for £26,400 (2023: £12,000). Included in trade creditors amounts payable to Riverflex Trading UK Limited was £164,632 (2023: £82,316). During the year, the total value of services provided to Riverflex Trading UK Limited was £72,000 (2023: £ 60,000). During the year total service received from Riverflex Trading UK Limited was £68,597 (2023: £68,597).

Riverflex Limited

As at 31 December 2024, the company had an intercompany loan payable of £200,000 (2024: receivable of £9,936) with Riverflex Limited.

Riverflex Trading NL B.V.

Included in inter-company loans there were related party balances receivable for £397,970 (2023: £Nil). There were no related party balances included in trade debtors as at 31 December 2024 (2023: £227,642). There were no related party balances included in trade creditors as at 31 December 2024 (2023: £156,077). During the year, the total value of services provided to Riverflex Trading NL B.V. was £779,316 (2022: £641,593). During the year, no services were received from Riverflex Trading NL B.V. (2023: £92,423).

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,779		1,925
Investments	5		101		101

			2,880		2,026
CURRENT ASSETS
Stocks	6	-		773
Debtors	7	426,594		288,195
Cash at bank and in hand		376,122		539,524

		802,716		828,492
Creditors: Amounts Falling Due Within One Year	8	(496,418 )		(332,466 )

NET CURRENT ASSETS (LIABILITIES)			306,298		496,026

TOTAL ASSETS LESS CURRENT LIABILITIES			309,178		498,052

PROVISIONS FOR LIABILITIES
Deferred Taxation			(528 )		(366 )

NET ASSETS			308,650		497,686

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			308,550		497,586

SHAREHOLDERS' FUNDS			308,650		497,686