RIVELIN COMMERCIAL LIMITED

RIVELIN COMMERCIAL LIMITED

RIVELIN COMMERCIAL LIMITED - Company Information

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RIVELIN COMMERCIAL LIMITED

Company Registration Number:
13792039 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 09 December 2021

End date: 31 December 2022

RIVELIN COMMERCIAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

RIVELIN COMMERCIAL LIMITED

Balance sheet

As at 31 December 2022


Notes
13 months to 31 December 2022


£
Fixed assets
Tangible assets: 3 300,000
Total fixed assets: 300,000
Current assets
Debtors:   0
Cash at bank and in hand: 9,123
Total current assets: 9,123
Creditors: amounts falling due within one year:   (67,578)
Net current assets (liabilities): (58,455)
Total assets less current liabilities: 241,545
Creditors: amounts falling due after more than one year: 4 (227,020)
Provision for liabilities: 0
Total net assets (liabilities): 14,525
Capital and reserves
Called up share capital: 40,000
Profit and loss account: (25,475)
Shareholders funds: 14,525

The notes form part of these financial statements

RIVELIN COMMERCIAL LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 01 September 2023
and signed on behalf of the board by:

Name: S D Evans
Status: Director

The notes form part of these financial statements

RIVELIN COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the value of rents charged (excluding VAT) during the period.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life.Office Equipment – 25% reducing balance basisMotor Vehicle – 25% reducing balance basis

Other accounting policies

Debtors and Creditors Receivable/Payable Within One YearDebtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.Investment PropertiesInvestment properties are included in the balance sheet at their open market value, as determined by the Directors of the Company and no depreciation is provided.Deferred TaxationTaxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Going ConcernThe accounts have been prepared on the assumption that the Company is able to carry on business as a going concern, which the Directors consider appropriate. At the Balance Sheet date the Company's current liabilities exceeded its assets. The Company has received assurances from the Directors that they will continue to give financial support to the Company for twelve months from the date of signing these financial statements.

RIVELIN COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

13 months to 31 December 2022
Average number of employees during the period 0

RIVELIN COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
Additions 317,957
Revaluations (17,957)
At 31 December 2022 300,000
Net book value
At 31 December 2022 300,000

The Directors have reviewed the market value of the freehold investment property at 31 December 2022 and have incorporated the outcome of the revaluation process in these accounts. The original cost of the property was £317,957 and the revalued amount is £300,000.

RIVELIN COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due after more than one year note

Amounts falling due after more than one year consist of an interest only bank loan of £227,020 which is repayable in full in 2047. It is secured by a legal charge against the investment property held by the Company.