Registration number:
Riverbreeze Limited
for the Year Ended 31 March 2020
Riverbreeze Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Riverbreeze Limited
Company Information
Directors |
Mr KH Vinda Mrs NK Vinda |
Company secretary |
Michaelides Warner & Co Limited |
Registered office |
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Accountants |
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Riverbreeze Limited
(Registration number: 03641621)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
10 |
10 |
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Other reserves |
157,750 |
- |
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Profit and loss account |
119,108 |
108,842 |
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Shareholders' funds |
276,868 |
108,852 |
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements
The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Financial instruments
Classification
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Investment properties |
2020 |
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At 1 April |
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Additions |
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Fair value adjustments |
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At 31 March |
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The historical cost of the investment property as at 31 March 2020 is £485,247 (2019: £330,584), and the fair value is £680,000 (2019: £330,584).
There has been no valuation of investment property by an independent valuer.
Debtors |
2020 |
2019 |
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Trade debtors |
- |
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Prepayments |
- |
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Other debtors |
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- |
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Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
- |
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Taxation and social security |
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- |
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Accruals and deferred income |
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- |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2020 |
2019 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Non-distributable reserve |
Retained earnings |
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Other comprehensive income |
157,750 |
(157,750) |
Riverbreeze Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Loans and borrowings |
2020 |
2019 |
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Non-current loans and borrowings |
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Bank borrowings |
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2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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Related party transactions |
Transactions with directors |
2020 |
At 1 April 2019 |
Advances to directors |
Repayments by director |
At 31 March 2020 |
Mr KH Vinda |
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Amount owed (to) / from the director |
( |
- |
( |
( |
2019 |
At 1 April 2018 |
Advances to directors |
Repayments by director |
At 31 March 2019 |
Mr KH Vinda |
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Amount owed (to) / from the director |
( |
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( |
( |