REGISTERED NUMBER:
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2020 |
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REGISTERED NUMBER:
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2020 |
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 8 |
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Registered Auditors |
16 Lambourne Crescent |
Cardiff Business Park |
Llanishen |
Cardiff |
CF14 5GF |
RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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BALANCE SHEET |
31ST AUGUST 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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BALANCE SHEET - continued |
31ST AUGUST 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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1. | STATUTORY INFORMATION |
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Riverside Industrial Equipment Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1st September 2019 |
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Additions |
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Disposals |
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At 31st August 2020 |
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DEPRECIATION |
At 1st September 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31st August 2020 |
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NET BOOK VALUE |
At 31st August 2020 |
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At 31st August 2019 |
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1st September 2019 |
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Additions |
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Disposals |
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( |
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( |
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At 31st August 2020 |
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DEPRECIATION |
At 1st September 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31st August 2020 |
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NET BOOK VALUE |
At 31st August 2020 |
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At 31st August 2019 |
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Cost or valuation at 31st August 2020 is represented by: |
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Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
Valuation in 2015 | 54,715 | - | - |
Cost | 615,285 | 248,276 | 136,129 |
670,000 | 248,276 | 136,129 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2015 | - | - | - | 54,715 |
Cost | 83,261 | 820,404 | 53,581 | 1,956,936 |
83,261 | 820,404 | 53,581 | 2,011,651 |
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Leasehold land and buildings were valued on an open market basis on 16th October 2015 by Hirons Morgan & Yapp . |
RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST OR VALUATION |
At 1st September 2019 |
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Additions |
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Disposals | ( |
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At 31st August 2020 |
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DEPRECIATION |
At 1st September 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st August 2020 |
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NET BOOK VALUE |
At 31st August 2020 |
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At 31st August 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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RIVERSIDE INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01711968) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2020 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank overdraft |
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Bank loans |
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The bank borrowings are secured by a charge over the assets of the company. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 101 | 101 |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st September 2019 |
and 31st August 2020 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31st August 2020 and 31st August 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is N. B. John. |
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The ultimate controlling party is
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