River Lea Holding Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02666238 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

River Lea Holding Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Steinberg

REGISTERED OFFICE:

Castlewood Wharf

Craven Walk

London

N16 6DE

REGISTERED NUMBER:

02666238 (England and Wales)

ACCOUNTANTS:

J.D. Bregman & Co Limited

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

FIXED ASSETS

Property, plant and equipment

4

7,000,000

7,000,000

Investments

5

236,694

236,694

7,236,694

7,236,694

CURRENT ASSETS

Debtors

6

928,100

928,100

TOTAL ASSETS LESS CURRENT LIABILITIES

8,164,794

8,164,794

PROVISIONS FOR LIABILITIES

(1,052,679

)

(1,052,679

)

NET ASSETS

7,112,115

7,112,115

CAPITAL AND RESERVES

Called up share capital

7

125,000

125,000

Share premium

1,184,041

1,184,041

Fair value reserve

8

4,892,205

4,892,205

Retained earnings

910,869

910,869

SHAREHOLDERS' FUNDS

7,112,115

7,112,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 1 April 2022 and were signed by:

M A Steinberg - Director

1.	STATUTORY INFORMATION

River Lea Holding Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about River Lea Holding Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Judgements in respect of valuation of freehold land and buildings have had the most significant effects on amounts recognised in the financial statements.

Tangible fixed assets

The whole value of the freehold property is attributable to the value of the land, consequently no depreciation is provided. The freehold property is stated at its current market valuation at the year end.

Investments in subsidiaries

Investment in subsidiary undertakings are initially recognised at cost less any provision for impairment.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and

preference shares that are classified as debt, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Going concern

The director considers that the company has sufficient resources to enable it to remain in business for at least 12 months following the approval of this financial statement and has the financial support of its shareholders for the foreseeable future. Consequently, the director considers it to be appropriate to prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST OR VALUATION

At 1 September 2020

and 31 August 2021

7,000,000

NET BOOK VALUE

At 31 August 2021

7,000,000

At 31 August 2020

7,000,000

Included in cost or valuation of land and buildings is freehold land of £ 7,000,000 (2020 - £ 7,000,000 ) which is not depreciated.

The freehold property and land was valued by the director at the year end at its fair value of £7,000,000.

The property is subject to a first legal charge in favour of its banker to secure the bank loans of the company's wholly owned subsidiary Reliance Veneer Company Limited.

Cost or valuation at 31 August 2021 is represented by:

Land and

buildings

£

Valuation in 2011

740,417

Valuation in 2012

4,800,000

Cost

1,459,583

7,000,000

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2020

and 31 August 2021

236,694

NET BOOK VALUE

At 31 August 2021

236,694

At 31 August 2020

236,694

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Reliance Veneer Company Limited

Registered office: Castlewood Wharf, Craven Walk, Stamford Hill, London, N16 6DE

Nature of business: Timber and veneer

%

Class of shares:

holding

Ordinary share

100.00

31.8.21

31.8.20

£

£

Aggregate capital and reserves

679,194

471,142

Profit for the year

268,052

59,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Amounts owed by group undertakings

928,100

928,100

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

125,000

Ordinary share

£1

125,000

125,000

8.

RESERVES

Fair

value

reserve

£

At 1 September 2020

and 31 August 2021

4,892,205

9.	RELATED PARTY DISCLOSURES

10.

COVID 19

The Covid-19 pandemic occurred in the Company's financial period ended 31 August 2021. The directors have carefully considered the likely effect of the Covid-19 pandemic on the future performance of the company and consider that it is unlikely to have an adverse impact on this. It is not possible to quantify this impact. However, the directors consider that the company has sufficient resources to enable it to remain in business for the foreseeable future.