COMPANY REGISTRATION NUMBER:
05447723
RIVERSIDE BUILDING SERVICES LIMITED
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UNAUDITED FINANCIAL STATEMENTS
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RIVERSIDE BUILDING SERVICES LIMITED
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PERIOD FROM 1 MAY 2017 TO 29 APRIL 2018
Statement of financial position
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1
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Notes to the financial statements
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2
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RIVERSIDE BUILDING SERVICES LIMITED
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STATEMENT OF FINANCIAL POSITION
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29 April 2018
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29 Apr 18
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30 Apr 17
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Note
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£
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£
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£
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CURRENT ASSETS
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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4
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360,291
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277,174
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---------
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---------
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NET CURRENT LIABILITIES
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146,523
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63,406
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---------
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--------
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TOTAL ASSETS LESS CURRENT LIABILITIES
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(
146,523)
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(
63,406)
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PROVISIONS
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(
22,125)
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(
12,367)
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---------
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--------
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NET LIABILITIES
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(
124,398)
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(
51,039)
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---------
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--------
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CAPITAL AND RESERVES
Called up share capital
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2
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2
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Profit and loss account
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(
124,400)
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(
51,041)
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---------
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--------
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SHAREHOLDERS DEFICIT
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(
124,398)
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(
51,039)
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---------
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--------
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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 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 period ending 29 April 2018 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 period in question in accordance with section 476
;
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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 financial statements were approved by the
board of directors
and authorised for issue on
20 September 2019
, and are signed on behalf of the board by:
Company registration number:
05447723
RIVERSIDE BUILDING SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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PERIOD FROM 1 MAY 2017 TO 29 APRIL 2018
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
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.
Corporation 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.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts
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293,206
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238,769
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Other creditors
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67,085
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38,405
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---------
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360,291
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277,174
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---------
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---------
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The amount payable to Goldcrest Finance Limited of £293,206 included within bank loans and overdrafts is secured against the properties held in stock to which it relates.
5.
FINANCIAL INSTRUMENTS AT FAIR VALUE
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
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213,768
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213,768
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6.
GOING CONCERN
The company is able to meet its day to day working capital requirements through the support of the directors and the company's creditors. Therefore the directors consider it appropriate to prepare financial statements on the going concern basis.
7.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The director did not receive advances, credits or guarantees during the current or pevious accounting periods.
8.
RELATED PARTY TRANSACTIONS
The following related party transactions were undertaken during the period: The director provided loans to the company amounting to £26,941, which remained outstanding in full as at the period end (2017:The directors provided loans to the company amounting to £32,459, which remained outstanding in full as at the period end). The balance payable to the director at the period end totalled £63,605. (2017: £36,665) No dividends were paid to the directors in respect of her shareholders totalling. No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
9.
FREQUENCY OF REPORTING PERIODS
The financial year end of the company was changed from 30th April to 29th April.