Riversdale Properties (Devon) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10969378 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

19 SEPTEMBER 2017 TO 30 SEPTEMBER 2018

FOR

RIVERSDALE PROPERTIES (DEVON) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C L Birch

REGISTERED OFFICE:

The Custom House

The Strand

Barnstaple

Devon

EX31 1EU

REGISTERED NUMBER:

10969378 (England and Wales)

ACCOUNTANTS:

Perrins Limited

Chartered Accountants

The Custom House

The Strand

Barnstaple

Devon

EX31 1EU

FIXED ASSETS

Investment property

5

224,740

CURRENT ASSETS

Cash at bank

2,978

CREDITORS

Amounts falling due within one year

6

110,807

NET CURRENT LIABILITIES

(107,829

)

TOTAL ASSETS LESS CURRENT LIABILITIES

116,911

CREDITORS

Amounts falling due after more than one year

7

120,050

NET LIABILITIES

(3,139

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

(3,239

)

SHAREHOLDERS' FUNDS

(3,139

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved and authorised for issue by the director on 8 November 2018 and were signed by:

C L Birch - Director

1.	STATUTORY INFORMATION

Riversdale Properties (Devon) 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Rounding is to the nearest pound (£).

Turnover

Turnover represents net invoiced rental income, excluding value added tax, and is derived from the ordinary

activities.

Investment property

No depreciation is charged to investment property as it is held at fair value in accordance with FRS102 (Section

1A).

This represents a departure from the requirements of the Companies Act 2006 however this method of valuation

is deemed to be appropriate:

i) management has concluded that the financial statements present fairly the entity's financial position, financial

performance and cash flows.

ii) it has complied with applicable legislation, except that is has departed from a particular requirement of

applicable legislation to achieve fair presentation.

iii) to comply with the Companies Act 2006 a depreciation charge would be required against investment

property which would conflict with the objective of the financial statements set out in FRS 102 (Section 1A).

Any changes to the fair value is transferred to the Other Comprehensive Income Statement. Depreciation or

amortisation is only one of the many factors reflected in the valuation and the amount of depreciation which

might have been charged cannot be separately identified or quantified.

Financial instruments

Basic financial instruments of debtors, bank and cash balances and creditors are all recognised at cost.

Financial instruments are defined as a contract which gives rise to a financial asset of one entity and a financial

liability or equity instrument of another entity.

Basic financial instruments are classified under section 11 of FRS102 and are held at amortised cost. These

include bank and cash in hand, all debtors and creditors, bank loans and other non-complicated loans.

Taxation

Taxation for the period 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 period 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.

Going concern

The director has considered the financial position of the company for the twelve months from the date of the

approval of the accounts and has prepared them on the going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

224,740

At 30 September 2018

224,740

NET BOOK VALUE

At 30 September 2018

224,740

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

525

Directors' current accounts

110,282

110,807

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loan more than 5 years

120,050

£

Amounts falling due in more than five years:

Repayable by instalments

Other loan more than 5 years

120,050

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other loans

120,050

The loan is secured by a legal charge over the company's investment property, and a floating charge over the

company's property and all other assets, present and future.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

10.

RESERVES

Retained

earnings

£

Deficit for the period

(3,239

)

At 30 September 2018

(3,239

)