Riviera Care Limited Filleted accounts for Companies House (small and micro)

RIVIERA CARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03951253

Riviera Care Limited

Filleted Unaudited Financial Statements

30 November 2021

Riviera Care Limited

Statement of Financial Position

30 November 2021

	2021		2020
Note	£	£	£

Fixed Assets

Tangible assets	5	275,071	277,773
Fixed Asset Investments	6	295,086	295,086
		---------	---------
		570,157	572,859

Current Assets

Debtors	7	106,179	99,703
Cash at bank and in hand		11,083	15,334
		---------	---------
		117,262	115,037

Creditors: amounts falling due within one year	8	135,216		97,457
		---------		---------
Net Current (Liabilities)/Assets			( 17,954)	17,580
			---------	---------
Total Assets Less Current Liabilities			552,203	590,439

Creditors: amounts falling due after more than one year	9		168,427	204,250

Provisions

Taxation including deferred tax	5,433	6,162
	---------	---------
Net Assets	378,343	380,027
	---------	---------

Capital and Reserves

Called up share capital	4	4
Profit and loss account	378,339	380,023
	---------	---------
Shareholders Funds	378,343	380,027
	---------	---------

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 30 November 2021 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 .

Riviera Care Limited

Statement of Financial Position (continued)

30 November 2021

These financial statements were approved by the board of directors and authorised for issue on 22 February 2022 , and are signed on behalf of the board by:

Mrs S M Bryan

Director

Company registration number: 03951253

Riviera Care Limited

Notes to the Financial Statements

Year Ended 30 November 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Station Road, Bovey Tracey, Devon, TQ13 9AL.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 in equity, respectively. 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

All fixed assets are initially recorded at cost.

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:

Fixtures and fittings	-	10% and 25% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 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

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 22 (2020: 22 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2020	245,340	152,636	7,565	405,541
Additions	–	729	–	729
	---------	---------	-------	---------
At 30 November 2021	245,340	153,365	7,565	406,270
	---------	---------	-------	---------
Depreciation
At 1 December 2020	–	120,246	7,522	127,768
Charge for the year	–	3,420	11	3,431
	---------	---------	-------	---------
At 30 November 2021	–	123,666	7,533	131,199
	---------	---------	-------	---------
Carrying amount
At 30 November 2021	245,340	29,699	32	275,071
	---------	---------	-------	---------
At 30 November 2020	245,340	32,390	43	277,773
	---------	---------	-------	---------

6. Fixed asset investments

	Riviera Support Limited
	£
Cost
At 1 December 2020 and 30 November 2021	295,086
	---------
Impairment
At 1 December 2020 and 30 November 2021	–
	---------

Carrying amount
At 30 November 2021	295,086
	---------
At 30 November 2020	295,086
	---------

7. Debtors

	2021	2020
	£	£
Trade debtors	15,534	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	83,636	92,694
Other debtors	7,009	7,009
	---------	--------
	106,179	99,703
	---------	--------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	34,995	34,265
Trade creditors	19,662	23,899
Corporation tax	25,991	18,641
Social security and other taxes	37,849	16,419
Other creditors	16,719	4,233
	---------	--------
	135,216	97,457
	---------	--------

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

	2021	2020
	£	£
Bank loans and overdrafts	168,427	204,250
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2020: £50,522) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Bank loans and overdraft are secured by a debenture on the assets of the company.

10. Directors' advances, credits and guarantees

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

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S M Bryan	( 522)	37,599	( 37,500)	( 423)
	----	--------	--------	----

	2020
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S M Bryan	( 13)	77,491	( 78,000)	( 522)
	----	--------	--------	----

11. Related party transactions

Controlling entity The company is controlled by the directors who own 100% of the called up share capital. Related party transactions At 30 November 2021 there were amounts owed by companies under common control of £133 (2020: £3,400) by Riviera Support Limited and £83,503 (2020: £89,294) by Riviera Support (South West) Limited. Riviera Support Limited is a wholly owned subsidiary. Riviera Support (South West) Limited is an associated company where Riviera Care Limited owns one third of the share capital, the other two thirds being owned by a director, Mrs S M Bryan . During the year the company paid a dividend to the directors, Mr & Mrs W Bryan, of £37,500 (2020: £78,000).