Company Registration No. NI605300 (Northern Ireland)
Riverness Limited
Unaudited accounts
for the year ended 31 January 2025
Riverness Limited
Company Information
for the year ended 31 January 2025
Company Number
NI605300 (Northern Ireland)
Registered Office
5-6 5-6 DONEGALL SQUARE WEST
BELFAST
BT1 6JA
NORTHERN IRELAND
Accountants
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
Riverness Limited
Accountants' report
Accountants' report to the director of Riverness Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Riverness Limited for the year ended
31 January 2025 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Riverness Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2022. Our work has been undertaken solely to prepare for your approval the accounts of Riverness Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riverness Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Riverness Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Riverness Limited. You consider that Riverness Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Riverness Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
15 May 2025
Riverness Limited
Statement of financial position
as at 31 January 2025
Tangible assets
52,500
78,750
Cash at bank and in hand
49,016
84,363
Creditors: amounts falling due within one year
(238,253)
(256,278)
Net current liabilities
(97,358)
(99,167)
Total assets less current liabilities
(44,858)
(20,417)
Creditors: amounts falling due after more than one year
(32,000)
(56,000)
Net liabilities
(76,858)
(76,417)
Called up share capital
1
1
Profit and loss account
(76,859)
(76,418)
Shareholders' funds
(76,858)
(76,417)
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered 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 - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 July 2025 and were signed on its behalf by
Peter Jez
Director
Company Registration No. NI605300
Riverness Limited
Notes to the Accounts
for the year ended 31 January 2025
Riverness Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI605300. The registered office is 5-6 5-6 DONEGALL SQUARE WEST, BELFAST, BT1 6JA, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Other tangible fixed assets
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Riverness Limited
Notes to the Accounts
for the year ended 31 January 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director shall continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2024
5,520
45,018
5,000
100,000
155,538
At 31 January 2025
5,520
45,018
5,000
100,000
155,538
At 1 February 2024
5,520
45,018
1,250
25,000
76,788
Charge for the year
-
-
1,250
25,000
26,250
At 31 January 2025
5,520
45,018
2,500
50,000
103,038
At 31 January 2025
-
-
2,500
50,000
52,500
At 31 January 2024
-
-
3,750
75,000
78,750
Amounts falling due within one year
Accrued income and prepayments
-
6,606
Riverness Limited
Notes to the Accounts
for the year ended 31 January 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
22,050
82,050
Trade creditors
85,668
64,448
Taxes and social security
-
10,746
Loans from directors
115,983
79,713
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 28 (2024: 26).