THE RIVERSIDE (BOSCASTLE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Company Registration Number: 09430683
THE RIVERSIDE (BOSCASTLE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 11
THE RIVERSIDE (BOSCASTLE) LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS
D J Hambley
R D Yates
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
09430683 England and Wales
THE RIVERSIDE (BOSCASTLE) LTD
BALANCE SHEET
AS AT 31 MARCH 2025
Notes 2025 2024
£ £
FIXED ASSETS
Tangible assets 6 976,847 1,002,983
Investments 7 1 1
976,848 1,002,984
CURRENT ASSETS
Stock 11,575 12,575
Debtors 8 9,914 32,399
Cash at bank and in hand 62,950 18,695
84,439 63,669
CREDITORS: Amounts falling due within one year 9 196,697 137,397
NET CURRENT LIABILITIES (112,258) (73,728)
TOTAL ASSETS LESS CURRENT LIABILITIES 864,590 929,256
CREDITORS: Amounts falling due after more than one year 10 554,592 616,923
Provisions for liabilities and charges 24,866 24,587
NET ASSETS 285,132 287,746
CAPITAL AND RESERVES
Called up share capital 3 3
Distributable profit and loss account 285,128 287,742
Capital redemption reserve 1 1
SHAREHOLDERS' FUNDS 285,132 287,746
THE RIVERSIDE (BOSCASTLE) LTD
BALANCE SHEET
AS AT 31 MARCH 2025
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
D J Hambley R D Yates
Director Director
Date approved by the board: 10 December 2025
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 GENERAL INFORMATION
The Riverside (Boscastle) Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
4 Witan Way The Bridge
Witney Boscastle
Oxon Cornwall
OX28 6FF PL35 0HE
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes its bank £583,544 and the directors £57,952, both of which could be required for repayment without notice. The company is therefore dependent upon the continued support of the bank and the directors. The directors do not consider their own support nor the support of the bank likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of hotel and restaurant services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Intangible fixed assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 10 years. Goodwill is fully amortised at 31 March 2025.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Freehold and investment property Not provided
Motor vehicles Reducing balance at 20% per annum
Furniture, fittings, plant and machinery Straight line basis at 20% per annum
Computer equipment Straight line basis at 33% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Investments
Investments in associates are shown at cost less accumulated impairment losses.
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have made key assumptions in determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2025 2024
Average number of employees 17 17
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
5 INTANGIBLE FIXED ASSETS
Net goodwill
£
Cost
At 1 April 2024 400,000
At 31 March 2025 400,000
Accumulated amortisation and impairments
At 1 April 2024 400,000
At 31 March 2025 400,000
Net book value
At 1 April 2024 -
At 31 March 2025 -
6 TANGIBLE ASSETS
Freehold and investment property Motor vehicles Furniture, fittings, plant and machinery Computer equipment Total
£ £ £ £ £
Cost
At 1 April 2024 906,730 99,000 146,462 22,855 1,175,047
Additions - - 6,039 1,527 7,566
At 31 March 2025 906,730 99,000 152,501 24,382 1,182,613
Accumulated depreciation and impairments
At 1 April 2024 33,150 14,850 104,921 19,143 172,064
Charge for year - 16,830 13,502 3,370 33,702
At 31 March 2025 33,150 31,680 118,423 22,513 205,766
Net book value
At 1 April 2024 873,580 84,150 41,541 3,712 1,002,983
At 31 March 2025 873,580 67,320 34,078 1,869 976,847
Freehold and investment property includes an investment property with a net book value of £77,994.
The company has agreed a charge over the company's assets, specifically a freehold property, with a carrying value of £795,586, as security for the mortgage from Barclays which is included within bank loans.
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
7 FIXED ASSET INVESTMENTS
Investment in associates
£
Cost
At 1 April 2024 1
At 31 March 2025 1
Net book value
At 1 April 2024 1
At 31 March 2025 1
8 DEBTORS
2025 2024
£ £
Trade debtors 2,272 7,090
Prepayments and accrued income 7,142 8,188
Other debtors 500 17,121
9,914 32,399
9 CREDITORS: Amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 58,686 54,619
Trade creditors 5,324 12,486
Taxation and social security 30,044 5,305
Hire purchase contracts and finance leases 22,301 22,293
Accruals and deferred income 3,545 2,249
Other creditors 76,797 40,445
196,697 137,397
THE RIVERSIDE (BOSCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10 CREDITORS: Amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 524,858 564,906
Hire purchase contracts and finance leases 29,734 52,017
554,592 616,923
Included in the amounts falling due after more than one year are the following amounts which are due in more
than five years:
2025 2024
£ £
Bank loans and overdrafts 518,306 548,006
11 SECURED DEBTS
The company has a mortgage with Barclays bank which is secured on the freehold property.
The hire purchase contracts and finance leases are secured on the assets concerned.
12 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
R D Yates
Director 2025 2024
£ £
Director loan account Loan balance due to director 22,051 2,018
D J Hambley
Director 2025 2024
£ £
Director loan account Loan balance due to director 35,901 16,319
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