Riverside Park Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04357431 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th April 2020

for

Riverside Park Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Henley

C A Lewis

SECRETARY:

J D Henley

REGISTERED OFFICE:

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

REGISTERED NUMBER:

04357431 (England and Wales)

ACCOUNTANTS:

Hammond McNulty LLP

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

FIXED ASSETS

Tangible assets

4

2

Investment property

5

7,370,000

7,370,002

CURRENT ASSETS

Debtors

949,317

961,253

Cash at bank

35,398

7,366

984,715

968,619

CREDITORS

Amounts falling due within one year

8,304,842

8,298,613

NET CURRENT LIABILITIES

(7,320,127

)

(7,329,994

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

49,875

40,008

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

49,775

39,908

SHAREHOLDERS' FUNDS

49,875

40,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th January 2021 and were signed on its behalf by:

........................................................................

J D Henley - Director

1.	STATUTORY INFORMATION

Riverside Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

Income is recognized when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost and 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is shown at the most recent valuation. Any aggregate surplus arising from changes is transferred to a revaluation reserve but where the overall market value is below cost this is transferred to the profit and loss account.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand ), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 3 ).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st May 2019

and 30th April 2020

3,283

DEPRECIATION

At 1st May 2019

and 30th April 2020

3,281

NET BOOK VALUE

At 30th April 2020

2

At 30th April 2019

2

5.	INVESTMENT PROPERTY

Fair value at 30th April 2020 is represented by:

£

Valuation in 2007

4,509,154

Valuation in 2010

(2,253,883

)

Valuation in 2014

(2,340,000

)

Cost

7,454,729

7,370,000

If investment property had not been revalued it would have been included at the following historical cost:

30/4/20

30/4/19

£

Cost

7,454,729

Investment property was valued on an open market basis on 9th May 2014 by Jones Lang LaSalle .

6.	SECURED DEBTS

The following secured debts are included within creditors:

30/4/20

30/4/19

£

Bank loans

8,229,580

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J D Henley by virtue of his shareholding.

Riverside Park Limited - Accounts to registrar (filleted) - small 18.2

Riverside Park Limited - Accounts to registrar (filleted) - small 18.2