Riviera Support (South West) Limited Filleted accounts for Companies House (small and micro)

RIVIERA SUPPORT (SOUTH WEST) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04519323

Riviera Support (South West) Limited

Filleted Unaudited Financial Statements

30 November 2022

Riviera Support (South West) Limited

Statement of Financial Position

30 November 2022

	2022		2021
Note	£	£	£

Fixed Assets

Tangible assets	5		889,767	891,780

Current Assets

Debtors	6	1,515	1,499
Cash at bank and in hand		3,673	13,801
		-------	--------
		5,188	15,300

Creditors: amounts falling due within one year	7	121,734		109,795
		---------		---------
Net Current Liabilities			116,546	94,495
			---------	---------
Total Assets Less Current Liabilities			773,221	797,285

Creditors: amounts falling due after more than one year	8		15,603	53,731

Provisions

Taxation including deferred tax	3,666	3,579
	---------	---------
Net Assets	753,952	739,975
	---------	---------

Capital and Reserves

Called up share capital	–	3
Profit and loss account	753,952	739,972
	---------	---------
Shareholders Funds	753,952	739,975
	---------	---------

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 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Riviera Support (South West) Limited

Statement of Financial Position (continued)

30 November 2022

These financial statements were approved by the board of directors and authorised for issue on 20 March 2023 , and are signed on behalf of the board by:

Mrs S M Bryan
Director

Company registration number: 04519323

Riviera Support (South West) Limited

Notes to the Financial Statements

Year Ended 30 November 2022

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:

Plant & Machinery	-	10 % on reducing balance basis
Fixture & fittings	-	10 % & 25% reducing balance basis
Motor Vehicle	-	25 % on reducing balance basis

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 2 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 December 2021 and 30 November 2022	871,110	62,266	47,051	2,871	983,298
	---------	--------	--------	-------	---------
Depreciation
At 1 December 2021	–	51,619	36,999	2,842	91,460
Charge for the year	–	1,059	1,005	7	2,071
	---------	--------	--------	-------	---------
At 30 November 2022	–	52,678	38,004	2,849	93,531
	---------	--------	--------	-------	---------
Carrying amount
At 30 November 2022	871,110	9,588	9,047	22	889,767
	---------	--------	--------	-------	---------
At 30 November 2021	871,110	10,647	10,052	29	891,838
	---------	--------	--------	-------	---------

6. Debtors

	2022	2021
	£	£
Other debtors	1,515	1,499
	-------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	38,327	14,828
Trade creditors	4,212	1,341
Amounts owed to group undertakings and undertakings in which the company has a participating interest	83,760	83,503
Corporation tax	8,391	4,620
Other creditors - Tenant deposits	1,001	1,641
Other creditors	( 13,957)	3,862
	---------	---------
	121,734	109,795
	---------	---------

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

	2022	2021
	£	£
Bank loans and overdrafts	15,603	53,731
	--------	--------

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

9. Related party transactions

Controlling entity The company is controlled by the director, Mrs S M Bryan , who owns 67% of the called up share capital. The other 33% of the company is owned by Riviera Care Limited, a company in which Mrs S M Bryan and her husband own 100% of the shares. Related party transactions At 30 November 2022 there were amounts owed to Riviera Care Limited of £83,760 (2021: £83,503). Riviera Care Limited is under the control of the director, Mrs S M Bryan .