Riverview Securities Limited 31/12/2021 iXBRL

RIVERVIEW SECURITIES LIMITED - Company Information

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Company registration number: 03481195

Riverview Securities Limited

Unaudited filleted financial statements

31 December 2021

Riverview Securities Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Riverview Securities Limited

Directors and other information


	Directors	Mr R A Cutt
		Miss G C Morton


	Secretary	R A Cutt


	Company number	03481195


	Registered office	54 Knifesmithgate
		Chesterfield
		Derbyshire
		S40 1RQ


	Accountants	Howard Matthews Partnership
		Lidgett House
		56 Lidgett Lane
		Garforth
		Leeds
		LS25 1LL




	Bankers	HSBC
		Market Place
		Chesterfield
		Derbyshire
		S40 1TN

Riverview Securities Limited

Statement of financial position

31 December 2021

		2021		2020
	Note	£	£	£	£

Fixed assets
Tangible assets	5	519,013		519,015
		_______		_______
			519,013		519,015

Current assets
Debtors	6	9,868		2,120
Cash at bank and in hand		40,069		33,077
		_______		_______
		49,937		35,197
Creditors: amounts falling due
within one year	7	( 4,036)		( 4,316)
		_______		_______
Net current assets			45,901		30,881
			_______		_______
Total assets less current liabilities			564,914		549,896

Creditors: amounts falling due
after more than one year	8		( 187,000)		( 187,000)

Provisions for liabilities			( 41,082)		( 41,082)

			_______		_______
Net assets			336,832		321,814
			_______		_______

Capital and reserves
Called up share capital			100		100
Fair value reserve			172,978		172,978
Profit and loss account			163,754		148,736
			_______		_______
Shareholders funds			336,832		321,814
			_______		_______

For the year ending 31 December 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.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 16 September 2022 , and are signed on behalf of the board by:

Mr R A Cutt

Director

Company registration number: 03481195

Riverview Securities Limited

Notes to the financial statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales, registration number 03481195 . The address of the registered office is 54 Knifesmithgate, Chesterfield, Derbyshire, S40 1RQ.

2. Statement of compliance

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

Turnover

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.

Taxation

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

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

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 in finance costs in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).

5. Tangible assets

	Freehold property	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 January 2021 and 31 December 2021	519,001	7,235	526,236
	_______	_______	_______
Depreciation
At 1 January 2021	-	7,221	7,221
Charge for the year	-	2	2
	_______	_______	_______
At 31 December 2021	-	7,223	7,223
	_______	_______	_______
Carrying amount
At 31 December 2021	519,001	12	519,013
	_______	_______	_______
At 31 December 2020	519,001	14	519,015
	_______	_______	_______

6. Debtors

	2021	2020
	£	£
Other debtors	9,868	2,120
	_______	_______

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	3,136	3,073
Other creditors	900	1,243
	_______	_______
	4,036	4,316
	_______	_______

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

	2021	2020
	£	£
Bank loans and overdrafts	187,000	187,000
	_______	_______

9. 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	Balance o/standing
		£	£	£
	Mr R A Cutt	( 343)	9,991	9,648
		_______	_______	_______

2020
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr R A Cutt	( 343)	-	( 343)
		_______	_______	_______

10. Controlling party

The company is controlled by R A Cutt by virtue of his majority shareholding.