Registration number:
The Riverside Group Holding Company Limited
for the Year Ended 31 October 2025
The Riverside Group Holding Company Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Consolidated Statement of Comprehensive Income |
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Consolidated Statement of Financial Position |
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Company Statement of Financial Position |
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Consolidated Statement of Changes in Equity |
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Company Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
The Riverside Group Holding Company Limited
Company Information
Registration number: 11481247
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Directors |
Mr Peter Cannon Mrs Karen Cannon Mrs Hannah Cannon Mr Jack Cannon Mr Jamie Cannon |
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Registered office |
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Auditors |
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The Riverside Group Holding Company Limited
Strategic Report for the Year Ended 31 October 2025
Fair review of the business
The Riverside Group Holding Company Limited presents for 2025, a fair, balanced, and comprehensive review of the development and performance of our business. Our review is consistent with the size and non-complex nature of our businesses and is written in the context of the risks and uncertainties of the group.
The principal activities of our subsidiaries continued to be that of wholesale distribution of aroma chemicals and hotel accommodation.
The 2025 results continue to demonstrate that the group has a resilient foundation, achieving another strong performance overall despite the challenges of doing business with the after effects of the global pandemic (COVID 19) and Brexit.
Principal risks and uncertainties
The group is subject to various risks that may adversely impact overall profits, including currency, political, and regulatory. The group is subject to foreign exchange risks when purchasing and selling overseas, not only within the Eurozone, but also worldwide. It is crucial that we adhere to specific laws and regulations as laid down by H M Revenue and Customs (UK).
Exposure to price, credit, liquidity, and cash flow risk
Price risk arises on financial instruments becuase of changes in for example, commodity price or equity prices. The group deals in wholesale distribution from various destinations worldwide. The group does not have any listed investment and will not be affected by price risk in that regard.
Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Group policies are aimed at minimising such losses and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. Details of group debtors are shown in note 18 of the financial statements.
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The group aims to mitigate liquidity risk by managing cash received by customers. The group manages liquidity risks via revolving credit facilities and trade loans.
Cash flow risk is the risk of exposure to variability in cash flow that is attributable to a particular risk associated with a recognised asset or liability such as a future interest payment on a variable rate debt. The group is not exposed to such risk as trade loan percentages are fixed for a short period of time, typically less than three months.
Key Performance Indicators
Given the straightforward nature of the business, we consider that the key financial indicators are those that communicate the financial performance and strength of the group as a whole, namely gross profit, operating profit and the value of net assets. At the end of the financial year the group had two female and three male directors.
Financial position at the reporting date
The balance sheet shows that the net assets for the group at the year-end are £10.44m (2024: £10.96m). The results for the year and the financial position at the year-end are considered to be satisfactory by the directors.
The Riverside Group Holding Company Limited
Strategic Report for the Year Ended 31 October 2025
Development and financial performance during the year
The Group in 2025 has experienced challenging trading conditions, with revenues decreasing by 24.8% to £13.84m (2024: £18.41m) and gross profit by 12.6% to £4.86m (2024: £5.41m).
Future Considerations
Looking forward there is expected to be continued pressure on prices and margins but the company will aim to counteract these by ensuing our capabilities and capacities remain ahead of current demand.
The directors believe the financial performance of the business in 2025 will further strengthen the robustness of the Group going forward enabling it to take advantage of further opportunities that are advantageous to the Group.
Approved and authorised by the
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The Riverside Group Holding Company Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the for the year ended 31 October 2025.
Directors of the group
The directors who held office during the year were as follows:
Dividends
Particulars of recommended dividends are detailed in note 12 to the financial statements.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors’ report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare financial statements in accordance with United Kingdom generally accepted accounting practice (United Kingdom Accounting standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period.
In preparing these financial statements the directors are required to
• Select suitable accounting policies and then apply them consistently
• Make judgments and accounting estimates that are reasonable and prudent
• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group and company’s transactions and disclose with reasonable accuracy at any time the financial positions of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the safeguarding the assets of group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Riverside Group Holding Company Limited
Directors' Report for the Year Ended 31 October 2025
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the appointment of auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
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The Riverside Group Holding Company Limited
Independent Auditor's Report to the Members of The Riverside Group Holding Company Limited
Opinion
We have audited the financial statements of The Riverside Group Holding Company Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025, which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 October 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
The Riverside Group Holding Company Limited
Independent Auditor's Report to the Members of The Riverside Group Holding Company Limited
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the directors' report set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
The Riverside Group Holding Company Limited
Independent Auditor's Report to the Members of The Riverside Group Holding Company Limited
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.
Our approach was as follows:
· We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
· We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations in the UK, and the relevant waste regulations in the UK (including the Waste (England and Wales) Regulations 2011);
· We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;
· We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
· We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
The Riverside Group Holding Company Limited
Independent Auditor's Report to the Members of The Riverside Group Holding Company Limited
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
TC Group
Waverley House
115-119 Holdenhurst Road
Dorset
BH8 8DY
The Riverside Group Holding Company Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 October 2025
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Note |
2025 |
(As restated) |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
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( |
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164,138 |
189,891 |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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Profit/(loss) attributable to: |
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Owners of the company |
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The group has no recognised gains or losses for the year other than the results above.
The Riverside Group Holding Company Limited
(Registration number: 11481247)
Consolidated Statement of Financial Position as at 31 October 2025
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Note |
2025 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
80 |
80 |
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Capital redemption reserve |
20 |
20 |
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Retained earnings |
10,434,918 |
10,954,906 |
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Equity attributable to owners of the company |
10,435,018 |
10,955,006 |
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Shareholders' funds |
10,435,018 |
10,955,006 |
Approved and authorised by the
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The Riverside Group Holding Company Limited
(Registration number: 11481247)
Company Statement of Financial Position as at 31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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- |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
80 |
80 |
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Retained earnings |
8,562,122 |
8,208,931 |
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Shareholders' funds |
8,562,202 |
8,209,011 |
The company made a profit after tax for the financial year of £3,605,037 (2024 - profit of £2,591,195).
Approved and authorised by the
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The Riverside Group Holding Company Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 October 2025
Equity attributable to the parent company
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 November 2024 |
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Profit for the year |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 31 October 2025 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 November 2023 |
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Prior period adjustment |
- |
- |
( |
( |
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At 1 November 2023 (As restated) |
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Profit for the year (As restated) |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 31 October 2024 |
80 |
20 |
10,954,906 |
10,955,006 |
The Riverside Group Holding Company Limited
Company Statement of Changes in Equity for the Year Ended 31 October 2025
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Share capital |
Retained earnings |
Total |
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At 1 November 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 October 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 November 2023 |
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Prior period adjustment |
- |
( |
( |
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At 1 November 2023 (As restated) |
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Profit for the year (As restated) |
- |
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Dividends |
- |
( |
( |
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At 31 October 2024 |
80 |
8,157,085 |
8,157,165 |
The Riverside Group Holding Company Limited
Consolidated Statement of Cash Flows for the Year Ended 31 October 2025
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Note |
2025 |
(As restated) |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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Loss on disposal of tangible assets |
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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||
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Working capital adjustments |
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Decrease/(increase) in stocks |
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( |
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Decrease/(increase) in trade debtors |
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( |
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(Decrease)/increase in trade creditors |
( |
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(Decrease)/increase in deferred income |
( |
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Cash generated from operations |
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Income taxes paid |
( |
( |
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Net cash flow from operating activities |
|
|
|
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
( |
|
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 November |
|
|
|
|
Cash and cash equivalents at 31 October |
7,464,241 |
7,608,548 |
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The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional currency of the group is sterling and all amounts are rounded to the nearest £1.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures under FRS102:
(a) Disclosures in respect of each class of share capital have not been presented,
(b) No cash flow statement has been presented for the company,
(c) Disclosures in respect of financial instruments have not been presented,
(d) No disclosure has been given for the aggregate remuneration of the key management personnel.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of The Riverside Group Holding Company Limited and all of its subsidiary undertakings drawn up to 31 October 2025.
The financial statements of Riverside Aromatics Limited, Riverside Aromatics (Europe) BV and Mortons Manor Limited have been included in the group financial statements using the acquisition method.
The results of the subsidiaries acquired or disposed of during the year are included from or to the date that control passes.
The parent company has applied the exemption contained in section408 of the Companies Act 2006 and has not presented its individual profit and loss account.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Prior period errors
Investment in subsidiary balance were previously retained on consolidation and goodwill arising on acquisition had not been recognised. The treatment had resulted in the overstatement of investments and understatement of goodwill within the consolidated balance sheet. The error has been corrected by eliminating the investment in subsidiary balance, recognising goodwill arising on acquisition, and restating the comparative figures accordingly.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Goodwill on Acquisition bfwd | 1,418,451 | 1,418,481 | 1,418,451 |
Goodwill amortisation b/fwd | (1,418,451) | (1,418,451) | (1,418,451) |
Investment in Subsidiaries | (1,635,024) | (1,635,024) | (1,635,024) |
Retained earnings | 1,635,024 | 1,635,024 | 1,635,024 |
Freehold properties used in the Group's trading activities were previously classified as Investment Property. Following a review, these properties have been reclassified as Tangible Fixed Assets and accumulated depreciation has been recognised from the date of purchase. The matter has been treated as a prior period error and comparative figures have been restated.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Investment Property | (598,227) | (598,227) | (598,227) |
Freehold Property cost bfwd | 598,227 | 598,227 | 598,227 |
Freehold Property accumulated depreciation | (51,846) | (39,882) | - |
Freehold Property depreciation charge | (11,965) | (11,964) | (39,882) |
Retained earnings | 63,811 | 51,846 | 39,882 |
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Judgements and key sources of estimation uncertainty
In producing these accounts the directors have considered accounting policies and relevant estimates. In the directors’ opinion and to the best of their knowledge significant accounting entries are based on facts. However, these accounts do include estimates in relation to the useful life of assets, deferred tax provision and immaterial prepayments and accruals.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
Taxation
The tax expense for the period comprises the aggregate amount of current and deferred tax. 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 in equity, respectively.
Current tax charge is recognised on taxable profit for the current and past periods. Current tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at average rate prevailing during the period of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Tangible assets
Tangible assets are stated in the company statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful economic life of that asset, as follows:
|
Freehold Property |
2% straight line |
|
Short Leasehold Property |
16% straight line |
|
Plant and machinery |
17% straight line |
|
Fixtures and fittings |
33% straight line |
|
Equipment |
25% straight line |
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments
Fixed asset investments are initally recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.
Cost is measured on an average cost (AVCO) basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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 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
Basic financial instruments are initially recognised at the transactions price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
5 years |
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related services 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.
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Rental income from investment property |
|
|
|
|
|
Turnover is stated net of VAT and is recognised when significant risks and rewards are transferred to the buyer.
A geographical analysis and class of business analysis is not presented as, in the opinion of the directors, this would be prejudicial to the interest of the group.
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Sub lease rental income |
|
|
|
Other operating income |
|
|
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
(As restated) |
|
|
Depreciation expense |
|
|
|
Operating lease expense - property |
|
|
|
Loss on disposal of property, plant and equipment |
|
|
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
14,946 |
14,570 |
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
(As restated) |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
Hospitality |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
(As restated) |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
206,716 |
139,458 |
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
- |
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Foreign exchange (losses)/gains |
( |
|
|
( |
|
|
Taxation |
Tax charged/(credited) in the consolidated statement of comprehensive income
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Foreign tax |
|
|
|
Total current income tax |
929,109 |
1,139,858 |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
2025 |
(As restated) |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible for tax purposes |
|
|
|
Effect of capital allowances and depreciation |
|
|
|
Tax decrease from other short-term timing differences |
( |
( |
|
Total tax charge |
|
|
|
Dividends |
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £ |
|
|
||
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 November 2024 (As restated) |
|
|
|
At 31 October 2025 |
|
|
|
Amortisation |
||
|
At 1 November 2024 (As restated) |
|
|
|
At 31 October 2025 |
|
|
|
Carrying amount |
||
|
At 31 October 2025 |
- |
- |
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Tangible assets |
Group
|
Freehold property |
Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Office equipment |
Total |
|
|
Cost or valuation |
||||||
|
At 1 November 2024 (As restated) |
|
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
|
Depreciation |
||||||
|
At 1 November 2024 (As restated) |
|
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
|
Carrying amount |
||||||
|
At 31 October 2025 |
|
|
|
|
|
|
|
At 31 October 2024 (As restated) |
|
|
|
|
|
|
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Company
|
Freehold property |
|
|
Cost or valuation |
|
|
At 1 November 2024 (As restated) |
|
|
At 31 October 2025 |
|
|
Depreciation |
|
|
At 1 November 2024 (As restated) |
|
|
Charge for the year |
|
|
At 31 October 2025 |
|
|
Carrying amount |
|
|
At 31 October 2025 |
|
|
At 31 October 2024 (As restated) |
|
Included within the net book value of Freehold property above is £534,415 (2024 - £797,748) in respect of investment property rented to another group entityand accounted for under the cost model.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Investment properties |
Group
|
2025 |
|
|
At 1 November 2024 (As restated) |
|
|
At 31 October 2025 |
|
There has been no valuation of investment property by an independent valuer, but the directors believe that the value in the accounts is representative of fair value.
Company
|
2025 |
|
|
At 1 November 2024 (As restated) |
|
|
At 31 October 2025 |
|
There has been no valuation of investment property by an independent valuer,but the directors believe that the value in the accounts is representative of fair value.
|
Investments |
Group
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Holding |
Percentage of shares held |
||
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Muntstraat 7
|
|
|
|
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Company
|
Shares in group undertakings |
Loans to group undertakings |
Total |
|
|
Cost |
|||
|
At 1 November 2024 (as restated) |
1,635,206 |
892,802 |
2,528,008 |
|
Repaid |
- |
(100,000) |
(100,000) |
|
Carrying amount |
|||
|
At 31 October 2025 |
1,635,206 |
792,802 |
2,428,008 |
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Holding |
Percentage of shares held |
||
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Other inventories |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
|||
|
Current |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
|
|
Other debtors |
|
|
|
|
|
Prepayments |
|
|
|
|
|
|
|
|
|
|
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Trade creditors |
|
|
|
|
|
|
Amounts due to related parties |
- |
- |
|
- |
|
|
Social security and other taxes |
|
|
|
|
|
|
Defined contribution pension |
- |
|
- |
|
|
|
Other payables |
|
|
|
|
|
|
Accruals |
|
|
|
|
|
|
Income tax liability |
341,736 |
427,364 |
- |
- |
|
|
Deferred income |
|
|
- |
- |
|
|
|
|
|
|
||
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
Deferred tax is provided in respect of accelerated capital allowances.
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Employee Benefits |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
80 |
|
80 |
|
Reserves |
Group
This comprises another reserve on the acquisition of this company with Riverside Aromatics Limited.
|
Analysis of changes in net debt |
Group
|
At 1 November 2024 |
Cash flows |
At 31 October 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
7,608,548 |
(144,307) |
7,464,241 |
|
|
|||
|
|
( |
|
|
The Riverside Group Holding Company Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
|
Controlling party |
The ultimate controlling party is Mr Peter Cannon.