Rivermead Recovery Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06403465

Rivermead Recovery Limited

Filleted Unaudited Financial Statements

31 January 2025

Rivermead Recovery Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		109,073	116,068

Current assets

Debtors	6	78,237	170,153
Cash at bank and in hand		81,607	148,363
		---------	---------
		159,844	318,516

Creditors: amounts falling due within one year	7	100,762		161,461
		---------		---------
Net current assets			59,082	157,055
			---------	---------
Total assets less current liabilities			168,155	273,123

Creditors: amounts falling due after more than one year	8		47,805	60,448

Provisions

Taxation including deferred tax	5,201	17,896
	---------	---------
Net assets	115,149	194,779
	---------	---------

Capital and reserves

Called up share capital	9	102	102
Profit and loss account		115,047	194,677
		---------	---------
Shareholders funds		115,149	194,779
		---------	---------

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 income and retained earnings has not been delivered.

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.

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 .

Rivermead Recovery Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 6 January 2026 , and are signed on behalf of the board by:

Mr S Gearty	Mr J J Peters
Director	Director

Company registration number: 06403465

Rivermead Recovery Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Haselbury Business Park, Haselbury Plucknett, Crewkerne, Somerset, TA18 7BF. This is also the principal place of business.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation. 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.

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:

Leasehold Property	-	10% straight line
Equipment	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2024: 22 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2024	24,155	12,571	233,077	269,803
Additions	–	1,145	29,545	30,690
Disposals	–	–	( 39,995)	( 39,995)
	--------	--------	---------	---------
At 31 January 2025	24,155	13,716	222,627	260,498
	--------	--------	---------	---------
Depreciation
At 1 February 2024	7,256	9,776	136,703	153,735
Charge for the year	2,418	987	30,551	33,956
Disposals	–	–	( 36,266)	( 36,266)
	--------	--------	---------	---------
At 31 January 2025	9,674	10,763	130,988	151,425
	--------	--------	---------	---------
Carrying amount
At 31 January 2025	14,481	2,953	91,639	109,073
	--------	--------	---------	---------
At 31 January 2024	16,899	2,795	96,374	116,068
	--------	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	54,476	97,435
Other debtors	23,761	72,718
	--------	---------
	78,237	170,153
	--------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	5,442	5,362
Trade creditors	20,598	15,409
Corporation tax	–	928
Social security and other taxes	40,470	70,296
Pension creditor	1,787	2,509
Other creditors	32,465	66,957
	---------	---------
	100,762	161,461
	---------	---------

Included in creditors due within one year is £5,442 relating to a Coronavirus Bounce Back loan which is secured under the Government Scheme. Interest is payable at the rate of 2.5%.

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

	2025	2024
	£	£
Bank loans and overdrafts	25,432	30,868
Other creditors	22,373	29,580
	--------	--------
	47,805	60,448
	--------	--------

Within Bank Loans and Overdrafts is a loan with repayments of £2,071 falling due after 5 years by instalments.

Included in creditors due within one year is £25,432 relating to a Coronavirus Bounce Back loan which is secured under the Government Scheme. Interest is payable at the rate of 2.5%.

9. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	100	100	100	100
Ordinary B shares of £ 1 each	1	1	1	1
Ordinary C shares of £ 1 each	1	1	1	1
	----	----	----	----
	102	102	102	102
	----	----	----	----

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	100	100	100	100
Ordinary B shares of £ 1 each	1	1	1	1
Ordinary C shares of £ 1 each	1	1	1	1
	----	----	----	----
	102	102	102	102
	----	----	----	----

10. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	25,245	25,245
	--------	--------

11. Directors' advances, credits and guarantees

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

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S Gearty	3,598	10	( 3,650)	( 42)
Mr J J Peters	16,453	13,976	( 16,500)	13,929
	--------	--------	--------	--------
	20,051	13,986	( 20,150)	13,887
	--------	--------	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S Gearty	16,224	3,624	( 16,250)	3,598
Mr J J Peters	15,026	16,477	( 15,050)	16,453
	--------	--------	--------	--------
	31,250	20,101	( 31,300)	20,051
	--------	--------	--------	--------

The loans to directors totalling £13,887 as at 31 January 2025 were repaid within 9 months of the year end by way of dividends. Interest has been charged at the official rate.