RIVER WOODWORK LIMITED 31/12/2024 iXBRL

Company registration number: 06474780

RIVER WOODWORK LIMITED

Unaudited filleted financial statements

31 December 2024

RIVER WOODWORK LIMITED

Contents

Statement of financial position

Notes to the financial statements

RIVER WOODWORK LIMITED

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	143,388		194,599
		_______		_______
			143,388		194,599

Current assets
Stocks		57,946		49,550
Debtors	6	671,806		879,162
Cash at bank and in hand		913,808		329,256
		_______		_______
		1,643,560		1,257,968
Creditors: amounts falling due
within one year	7	( 977,441)		( 865,108)
		_______		_______
Net current assets			666,119		392,860
			_______		_______
Total assets less current liabilities			809,507		587,459

Creditors: amounts falling due
after more than one year	8		( 99,502)		( 288,536)

Provisions for liabilities	9		( 9,115)		( 16,731)

			_______		_______
Net assets			700,890		282,192
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Capital redemption reserve			112		-
Profit and loss account			699,778		281,192
			_______		_______
Shareholders funds			700,890		282,192
			_______		_______

For the 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.

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 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr Tobias Little

Director

Company registration number: 06474780

RIVER WOODWORK LIMITED

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Garrards, Cowfold Road, WEST GRINSTEAD, West Sussex, RH13 8LY.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Short leasehold property	-	Over the term of the lease
Plant and machinery	-	20% on straight line and 20% on reducing balance
Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Share-based payments

The company operates an equity-settled share-based payment scheme, under which conditional growth shares are granted to employees.The fair value of the shares granted is measured at the grant date and is expensed on a straight-line basis over the vesting period, based on the company's estimate of the number of shares that will eventually vest. Service and non-market performance conditions are taken into account in the estimate of vesting. The corresponding credit is recognised in equity within a share-based payment reserve.When the shares vest, the cumulative amount recognised in equity is transferred to share capital and share premium. Where awards lapse, the expense is reversed.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 52 (2023: 43 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	78,146	354,121	37,730	106,387	576,384
Additions	-	784	-	-	784
	_______	_______	_______	_______	_______
At 31 December 2024	78,146	354,905	37,730	106,387	577,168
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	57,523	220,294	35,725	68,243	381,785
Charge for the year	10,311	31,410	738	9,536	51,995
	_______	_______	_______	_______	_______
At 31 December 2024	67,834	251,704	36,463	77,779	433,780
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	10,312	103,201	1,267	28,608	143,388
	_______	_______	_______	_______	_______
At 31 December 2023	20,623	133,827	2,005	38,144	194,599
	_______	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	297,463	290,656
Other debtors	374,343	588,506
	_______	_______
	671,806	879,162
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	35,887	96,060
Trade creditors	167,952	165,485
Corporation tax	214,555	116,916
Social security and other taxes	80,555	71,953
Other creditors	478,492	414,694
	_______	_______
	977,441	865,108
	_______	_______

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	99,502	288,536
	_______	_______

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 January 2024	16,730	16,730
Transfers	( 7,615)	( 7,615)
	_______	_______
At 31 December 2024	9,115	9,115
	_______	_______

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 9)	9,115	16,731
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	( 7,615)	( 170)
	_______	_______

11. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	105,990	105,990
Later than 1 year and not later than 5 years	35,185	141,175
	_______	_______
	141,175	247,165
	_______	_______

12. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Tobias Little	309,120	357,899	( 700,000)	( 32,981)
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Tobias Little	99,234	263,260	( 53,374)	309,120
		_______	_______	_______	_______

The loan was interest free, unsecured and repayable on demand.

13. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Little Capital Ltd	49,374	-	49,374	-
	_______	_______	_______	_______

The company is under the common control of its directors.