ARMSTRONG REIVER BBS LTD

ARMSTRONG REIVER BBS LTD - Company Information

2021-09-012022-03-312022-03-31false03969541ARMSTRONG REIVER BBS LTD2022-12-2177390iso4217:GBPxbrli:pure039695412021-09-01039695412022-03-31039695412021-09-012022-03-31039695412020-04-01039695412021-08-31039695412020-04-012021-08-3103969541bus:SmallEntities2021-09-012022-03-3103969541bus:AuditExempt-NoAccountantsReport2021-09-012022-03-3103969541bus:FullAccounts2021-09-012022-03-3103969541bus:PrivateLimitedCompanyLtd2021-09-012022-03-3103969541core:WithinOneYear2022-03-3103969541core:AfterOneYear2022-03-3103969541core:WithinOneYear2021-08-3103969541core:AfterOneYear2021-08-310396954112021-09-012022-03-3103969541core:ShareCapital2022-03-3103969541core:SharePremium2022-03-3103969541core:RevaluationReserve2022-03-3103969541core:OtherReservesSubtotal2022-03-3103969541core:RetainedEarningsAccumulatedLosses2022-03-3103969541core:ShareCapital2021-08-3103969541core:SharePremium2021-08-3103969541core:RevaluationReserve2021-08-3103969541core:OtherReservesSubtotal2021-08-3103969541core:RetainedEarningsAccumulatedLosses2021-08-3103969541core:LandBuildings2022-03-3103969541core:PlantMachinery2022-03-3103969541core:Vehicles2022-03-3103969541core:FurnitureFittings2022-03-3103969541core:OfficeEquipment2022-03-3103969541core:NetGoodwill2022-03-3103969541core:IntangibleAssetsOtherThanGoodwill2022-03-3103969541core:ListedExchangeTraded2022-03-3103969541core:UnlistedNon-exchangeTraded2022-03-3103969541core:LandBuildings2021-08-3103969541core:PlantMachinery2021-08-3103969541core:Vehicles2021-08-3103969541core:FurnitureFittings2021-08-3103969541core:OfficeEquipment2021-08-3103969541core:NetGoodwill2021-08-3103969541core:IntangibleAssetsOtherThanGoodwill2021-08-3103969541core:ListedExchangeTraded2021-08-3103969541core:UnlistedNon-exchangeTraded2021-08-3103969541core:LandBuildings2021-09-012022-03-3103969541core:PlantMachinery2021-09-012022-03-3103969541core:Vehicles2021-09-012022-03-3103969541core:FurnitureFittings2021-09-012022-03-3103969541core:OfficeEquipment2021-09-012022-03-3103969541core:NetGoodwill2021-09-012022-03-3103969541core:IntangibleAssetsOtherThanGoodwill2021-09-012022-03-3103969541core:ListedExchangeTraded2021-09-012022-03-3103969541core:UnlistedNon-exchangeTraded2021-09-012022-03-3103969541core:MoreThanFiveYears2021-09-012022-03-3103969541core:Non-currentFinancialInstruments2022-03-3103969541core:Non-currentFinancialInstruments2021-08-3103969541dpl:CostSales2021-09-012022-03-3103969541dpl:DistributionCosts2021-09-012022-03-3103969541dpl:AdministrativeExpenses2021-09-012022-03-3103969541core:LandBuildings2021-09-012022-03-3103969541core:PlantMachinery2021-09-012022-03-3103969541core:Vehicles2021-09-012022-03-3103969541core:FurnitureFittings2021-09-012022-03-3103969541core:OfficeEquipment2021-09-012022-03-3103969541core:NetGoodwill2021-09-012022-03-3103969541core:IntangibleAssetsOtherThanGoodwill2021-09-012022-03-3103969541dpl:GroupUndertakings2021-09-012022-03-3103969541dpl:ParticipatingInterests2021-09-012022-03-3103969541dpl:GroupUndertakingscore:ListedExchangeTraded2021-09-012022-03-3103969541core:ListedExchangeTraded2021-09-012022-03-3103969541dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-09-012022-03-3103969541core:UnlistedNon-exchangeTraded2021-09-012022-03-3103969541dpl:CostSales2020-04-012021-08-3103969541dpl:DistributionCosts2020-04-012021-08-3103969541dpl:AdministrativeExpenses2020-04-012021-08-3103969541core:LandBuildings2020-04-012021-08-3103969541core:PlantMachinery2020-04-012021-08-3103969541core:Vehicles2020-04-012021-08-3103969541core:FurnitureFittings2020-04-012021-08-3103969541core:OfficeEquipment2020-04-012021-08-3103969541core:NetGoodwill2020-04-012021-08-3103969541core:IntangibleAssetsOtherThanGoodwill2020-04-012021-08-3103969541dpl:GroupUndertakings2020-04-012021-08-3103969541dpl:ParticipatingInterests2020-04-012021-08-3103969541dpl:GroupUndertakingscore:ListedExchangeTraded2020-04-012021-08-3103969541core:ListedExchangeTraded2020-04-012021-08-3103969541dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-04-012021-08-3103969541core:UnlistedNon-exchangeTraded2020-04-012021-08-3103969541core:NetGoodwill2022-03-3103969541core:IntangibleAssetsOtherThanGoodwill2022-03-3103969541core:LandBuildings2022-03-3103969541core:PlantMachinery2022-03-3103969541core:Vehicles2022-03-3103969541core:FurnitureFittings2022-03-3103969541core:OfficeEquipment2022-03-3103969541core:AfterOneYear2022-03-3103969541core:WithinOneYear2022-03-3103969541core:ListedExchangeTraded2022-03-3103969541core:UnlistedNon-exchangeTraded2022-03-3103969541core:ShareCapital2022-03-3103969541core:SharePremium2022-03-3103969541core:RevaluationReserve2022-03-3103969541core:OtherReservesSubtotal2022-03-3103969541core:RetainedEarningsAccumulatedLosses2022-03-3103969541core:NetGoodwill2021-08-3103969541core:IntangibleAssetsOtherThanGoodwill2021-08-3103969541core:LandBuildings2021-08-3103969541core:PlantMachinery2021-08-3103969541core:Vehicles2021-08-3103969541core:FurnitureFittings2021-08-3103969541core:OfficeEquipment2021-08-3103969541core:AfterOneYear2021-08-3103969541core:WithinOneYear202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(formerly BORDER BARRIER SYSTEMS LIMITED)

Registered Number
03969541
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2022

ARMSTRONG REIVER BBS LTD

Company Information
for the period from 1 September 2021 to 31 March 2022


Directors	BESSANT, Rachel Kate
	ROYLE, Julie Margaret Reem


Registered Address	Alstonby Grange
	Westlinton
	Carlisle
	CA6 6AF


Registered Number	03969541 (England and Wales)

ARMSTRONG REIVER BBS LTD

Statement of Financial Position
31 March 2022

	Notes	31 Mar 2022		31 Aug 2021
		£	£	£	£
Fixed assets
Investments	8		840,045		763,678
			840,045		763,678
Current assets
Debtors		2,895,730		2,879,500
Cash at bank and on hand		338,486		744,699
		3,234,216		3,624,199
Creditors amounts falling due within one year	14	(338,275)		(692,083)
Net current assets (liabilities)			2,895,941		2,932,116
Total assets less current liabilities			3,735,986		3,695,794
Net assets			3,735,986		3,695,794
Capital and reserves
Called up share capital			25,001		25,001
Other reserves			25,000		25,000
Profit and loss account			3,685,985		3,645,793
Shareholders' funds			3,735,986		3,695,794

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 21 December 2022, and are signed on its behalf by:

BESSANT, Rachel Kate
Director
Registered Company No. 03969541

ARMSTRONG REIVER BBS LTD

Notes to the Financial Statements
for the period ended 31 March 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. Armstrong Reiver BBS Limited was formerly known as Border Barrier Systems Limited. The reporting date has been shortened from 31 August 2022 to 31 March 2022 therefore the comparative figures are not entirely comparable.

Statutory information

The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. Armstrong Reiver BBS Limited was formerly known as Border Barrier Systems Limited. 

The reporting date has been shortened from 31 August 2022 to 31 March 2022 therefore the comparative figures are not entirely comparable.

2.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

3.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows: Freehold property - 2% straight line Leasehold improvements - 20 years straight line Equipment - 5% - 20% straight line / 5% to 25% reducing balance Motor vehicles - 25% reducing balance

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:
Freehold property - 2% straight line
Leasehold improvements - 20 years straight line
Equipment - 5% - 20% straight line / 5% to 25% reducing balance
Motor vehicles - 25% reducing balance

	Intangible assets policy
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Taxation policy
	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 policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Employee benefits policy
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits policy

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Valuation of financial instruments policy
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

4.	Prior period and policy change adjustments
	In the comparative period an amount of £1,000,000 has been moved from the director's loan on the balance sheet to other operating income and an amount of £16,268 has been moved to insurance payable from the director's loan. These amounts reflect monies received and premiums payable in respect of a life insurance policy, of which the beneficiary is the company. This adjustment corrects the previous treatment of these transactions. This adjustment has increased profit reserves by £983,732 in the comparative period. In the comparative period an amount of £4,530 has been moved from the director's loan on the balance sheet to other interest received. These amounts reflect monies received in respect of interest on the life insurance policy, of which the beneficiary is the company. This adjustment corrects the previous treatment of these transactions. This adjustment has increased the profit reserves by £4,530. In the comparative period an amount of £3,575 has been included as a reduction to sales in respect of a credit note issued post year end in respect of sales in the comparative period. As the trade ceased in the comparative period it was necessary to include this credit note by way of a prior period adjustment. This adjustment has decreased profit reserves by £3,575 in the comparative period. The effect on taxation of these adjustments was deemed immaterial and this has been adjusted as an over provision in the current year's tax charge.

Prior period and policy change adjustments

In the comparative period an amount of £1,000,000 has been moved from the director's loan on the balance sheet to other operating income and an amount of £16,268 has been moved to insurance payable from the director's loan. These amounts reflect monies received and premiums payable in respect of a life insurance policy, of which the beneficiary is the company. This adjustment corrects the previous treatment of these transactions. This adjustment has increased profit reserves by £983,732 in the comparative period. 

In the comparative period an amount of £4,530 has been moved from the director's loan on the balance sheet to other interest received. These amounts reflect monies received  in respect of interest on the life insurance policy, of which the beneficiary is the company. This adjustment corrects the previous treatment of these transactions. This adjustment has increased the profit reserves by £4,530.

In the comparative period an amount of £3,575 has been included as a reduction to sales in respect of a credit note issued post year end in respect of sales in the comparative period. As the trade ceased in the comparative period it was necessary to include this credit note by way of a prior period adjustment. This adjustment has decreased profit reserves by £3,575 in the comparative period.

The effect on taxation of these adjustments was deemed immaterial and this has been adjusted as an over provision in the current year's tax charge.

5.	Exceptional items
	Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. In the period ending 31 August 2021 the following exceptional items were included as expenses: Related party loan write off £1,091,600 Impairment of tangible fixed assets £98,350

6.	Employee information


		2022		2021
	Average number of employees during the year	2		21

7.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 September 21	7,670	7,670
At 31 March 22	7,670	7,670
Amortisation and impairment
At 01 September 21	7,670	7,670
At 31 March 22	7,670	7,670
Net book value
At 31 March 22	-	-
At 31 August 21	-	-

8.	Fixed asset investments
	The fixed asset investment relates to the capital account in a trading Limited Liability Partnership.

	Other investments¹	Total
	£	£
Cost or valuation
At 01 September 21	763,678	763,678
Additions	76,367	76,367
At 31 March 22	840,045	840,045
Net book value
At 31 March 22	840,045	840,045
At 31 August 21	763,678	763,678

	Notes
	¹Other investments other than loans

9.	Off balance sheet pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £Nil (2021 - £23,908). Contributions totalling £Nil (2021 - £Nil) were payable to the fund at the reporting date.

10.	Description of nature of transactions and balances with related parties
	At the reporting date £1,188,235 (2021 - £1,188,235) was owed to the company from Armstrong Reiver LLP, a partnership in which the company is a partner. The loan is included in debtors and is unsecured and interest free. There is no fixed repayment terms but 12 months notice must be given for amounts owed, no such notice has been given during the period or in the period post year end. At the reporting date £Nil (2021 - £929) was owed to the company from Armstrong Reiver BSS LTD (Formerly Border Show Services Group Limited), a company in which Mr P R Armstrong (Deceased) was also a director. During the year £3,262 due from Armstrong Reiver BSS Ltd was written off to the profit and loss account. The loan was included in debtors and is unsecured and interest free. At the reporting date £312,613 (2021 - £312,613) was owed to the estate of Mr P R Armstrong (Deceased). Mr P R Armstrong was a company director until his death. The loan is interest free and repayable on demand.

10.

Description of nature of transactions and balances with related parties

At the reporting date £1,188,235 (2021 - £1,188,235) was owed to the company from Armstrong Reiver LLP, a partnership in which the company is a partner. The loan is included in debtors and is unsecured and interest free. There is no fixed repayment terms but 12 months notice must be given for amounts owed, no such notice has been given during the period or in the period post year end.

At the reporting date £Nil (2021 - £929)  was owed to the company from Armstrong Reiver BSS LTD (Formerly Border Show Services Group Limited), a company in which Mr P R Armstrong (Deceased) was also a director. During the year £3,262 due from Armstrong Reiver BSS Ltd was written off to the profit and loss account. The loan was included in debtors and is unsecured and interest free. 

At the reporting date £312,613 (2021 - £312,613) was owed to the estate of Mr P R Armstrong (Deceased). Mr P R Armstrong was a company director until his death. The loan is interest free and repayable on demand.

11.	Further information regarding the company's financial position
	In respect of these Financial Statements the comparative income statement has had £69,425 moved from turnover to income from other fixed asset investments and £2,011 bank charges have moved from administration costs to interest payable and similar charges. Motor expenses of £107,492 have moved from administration costs to distribution expenses. These reclassifications have not affected the reported profit position which remains the same.

11.

Further information regarding the company's financial position

In respect of these Financial Statements the comparative income statement has had £69,425 moved from turnover to income from other fixed asset investments and £2,011 bank charges have moved from administration costs to interest payable and similar charges. Motor expenses of £107,492 have moved from administration costs to distribution expenses. These reclassifications have not affected the reported profit position which remains the same.

12.	Debtors within one year

	2022	2021
	£	£
Trade debtors / trade receivables	565,726	560,639
Other debtors	1,247	55,701
Prepayments and accrued income	1,140,522	1,074,925
Total	1,707,495	1,691,265


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

13.	Debtors after one year

	2022	2021
	£	£
Other debtors	1,188,235	1,188,235
Total	1,188,235	1,188,235

14.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	119	31,292
Taxation and social security	17,953	336,823
Other creditors	312,613	312,613
Accrued liabilities and deferred income	7,590	11,355
Total	338,275	692,083


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

15.	Provisions for liabilities
	The deferred tax asset is made up of £Nil (2021 - £54,772) tax adjustments relating to fixed assets.