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

RIVIERA CARE LIMITED - Company Information

22 false false false false false false false false false true false false false false true false No description of principal activity 2019-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 199,000 195,975 99,889 295,086 295,086 199,000 xbrli:pure xbrli:shares iso4217:GBP 03951253 2019-12-01 2020-11-30 03951253 2020-11-30 03951253 2019-11-30 03951253 2018-12-01 2019-11-30 03951253 2019-11-30 03951253 core:MotorVehicles 2019-12-01 2020-11-30 03951253 bus:Director1 2019-12-01 2020-11-30 03951253 core:LandBuildings 2019-11-30 03951253 core:FurnitureFittings 2019-11-30 03951253 core:MotorVehicles 2019-11-30 03951253 core:LandBuildings 2020-11-30 03951253 core:FurnitureFittings 2020-11-30 03951253 core:MotorVehicles 2020-11-30 03951253 core:FurnitureFittings 2019-12-01 2020-11-30 03951253 core:WithinOneYear 2020-11-30 03951253 core:WithinOneYear 2019-11-30 03951253 core:AfterOneYear 2020-11-30 03951253 core:AfterOneYear 2019-11-30 03951253 core:ShareCapital 2020-11-30 03951253 core:ShareCapital 2019-11-30 03951253 core:RetainedEarningsAccumulatedLosses 2020-11-30 03951253 core:RetainedEarningsAccumulatedLosses 2019-11-30 03951253 core:CostValuation core:Non-currentFinancialInstruments 2019-11-30 03951253 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2020-11-30 03951253 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2020-11-30 03951253 core:CostValuation core:Non-currentFinancialInstruments 2020-11-30 03951253 core:Non-currentFinancialInstruments 2020-11-30 03951253 core:Non-currentFinancialInstruments 2019-11-30 03951253 core:LandBuildings 2019-11-30 03951253 core:FurnitureFittings 2019-11-30 03951253 core:MotorVehicles 2019-11-30 03951253 bus:Director1 2019-11-30 03951253 bus:Director1 2020-11-30 03951253 bus:Director1 2018-11-30 03951253 bus:Director1 2019-11-30 03951253 bus:Director1 2018-12-01 2019-11-30 03951253 bus:SmallEntities 2019-12-01 2020-11-30 03951253 bus:AuditExemptWithAccountantsReport 2019-12-01 2020-11-30 03951253 bus:FullAccounts 2019-12-01 2020-11-30 03951253 bus:SmallCompaniesRegimeForAccounts 2019-12-01 2020-11-30 03951253 bus:PrivateLimitedCompanyLtd 2019-12-01 2020-11-30

COMPANY REGISTRATION NUMBER: 03951253

Riviera Care Limited

Filleted Unaudited Financial Statements

30 November 2020

Riviera Care Limited

Statement of Financial Position

30 November 2020

	2020		2019
Note	£	£	£

Fixed Assets

Tangible assets	5	277,773	276,841
Fixed Asset Investments	6	295,086	199,000
		---------	---------
		572,859	475,841

Current Assets

Debtors	7	99,703	210,884
Cash at bank and in hand		15,334	38
		---------	---------
		115,037	210,922

Creditors: amounts falling due within one year	8	97,457		71,289
		---------		---------
Net Current Assets			17,580	139,633
			---------	---------
Total Assets Less Current Liabilities			590,439	615,474

Creditors: amounts falling due after more than one year	9		204,250	190,308

Provisions

Taxation including deferred tax	6,162	5,985
	---------	---------
Net Assets	380,027	419,181
	---------	---------

Capital and Reserves

Called up share capital	4	4
Profit and loss account	380,023	419,177
	---------	---------
Shareholders Funds	380,027	419,181
	---------	---------

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 2020 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 2020

These financial statements were approved by the board of directors and authorised for issue on 17 August 2021 , 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 2020

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.

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 (2019: 22 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2019	245,340	147,948	7,565	400,853
Additions	–	4,688	–	4,688
	---------	---------	-------	---------
At 30 November 2020	245,340	152,636	7,565	405,541
	---------	---------	-------	---------
Depreciation
At 1 December 2019	–	116,504	7,508	124,012
Charge for the year	–	3,742	14	3,756
	---------	---------	-------	---------
At 30 November 2020	–	120,246	7,522	127,768
	---------	---------	-------	---------
Carrying amount
At 30 November 2020	245,340	32,390	43	277,773
	---------	---------	-------	---------
At 30 November 2019	245,340	31,444	57	276,841
	---------	---------	-------	---------

6. Fixed asset investments

	Riviera Support Limited
	£
Cost
At 1 December 2019	199,000
Additions	195,975
Disposals	( 99,889)
	---------
At 30 November 2020	295,086
	---------
Impairment
At 1 December 2019 and 30 November 2020	–
	---------

Carrying amount
At 30 November 2020	295,086
	---------
At 30 November 2019	199,000
	---------

7. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	92,694	185,077
Other debtors	7,009	25,807
	--------	---------
	99,703	210,884
	--------	---------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	34,265	26,877
Trade creditors	23,899	14,350
Corporation tax	18,641	9,274
Social security and other taxes	16,419	16,186
Other creditors	4,233	4,602
	--------	--------
	97,457	71,289
	--------	--------

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

	2020	2019
	£	£
Bank loans and overdrafts	204,250	190,308
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £50,522 (2019: £83,754) 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:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S M Bryan	( 13)	87,209	( 87,718)	( 522)
	----	--------	--------	----

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S M Bryan	28,017	–	( 28,030)	( 13)
	--------	----	--------	----

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 2020 there were amounts owed by companies under common control of £3,400 (2019: £106,666) by Riviera Support Limited and £89,294 (2019: £78,411) 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 £78,000 (2019: £35,500).