RIVERDALE_ASSETS_LIMITED - Accounts

RIVERDALE ASSETS LIMITED - Company Information

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Company Registration No. 03684524 (England and Wales)

RIVERDALE ASSETS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

RIVERDALE ASSETS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

RIVERDALE ASSETS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Current assets

Stocks

242,000

Debtors

210,169

226,604

Cash at bank and in hand

1,400

1,405

453,569

470,009

Creditors: amounts falling due within one year

(495,370)

(521,703)

Total assets less current liabilities

(41,801)

(51,694)

Creditors: amounts falling due after more than one year

(67,500)

(109,301)

(119,194)

Capital and reserves

Called up share capital

Profit and loss account

(109,303)

(119,196)

Shareholders' funds

(109,301)

(119,194)

For the financial year ended 31 December 2015 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 September 2016

L Norris

Director

Company Registration No. 03684524

RIVERDALE ASSETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on a going concern basis. Should this basis not be appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets as current assets. The validity of the going concern basis is dependent upon the continued financial support from the company's shareholders, directors, loan creditors or from alternative sources of finance being made available to the company to enable it to continue trading.

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Creditors: amounts falling due after more than one year

Preference shares classed as a financial liability

67,500

Preference shares classified as financial liabilities

In more than two years but not more than five years

67,500

Non-equity shareholders' funds relate entirely to the 5% redeemable non-cumulative preference shares. These shares carry an entitlement to dividend at the rate of 5p per share per annum (non-cumulative) and may be redeemed, wholly or partially, at par per share at any time within twenty years from the date of issue. The preference shares shall otherwise be redeemable twenty years after issue by 8 June 2019. The redeemable preference shares do not carry any voting rights. The holders of the redeemable preference shares have priority over the ordinary shareholders in a winding up.

The 5% preference shares are non equity shares and meet the definition of a financial liability as defined by FRS 25 and as such have been reclassified as debt and not equity.

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each

RIVERDALE ASSETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Ultimate controlling party

The ultimate controlling party from 24 January 2014 is L E Norris who is the sole director and shareholder of the company.