2 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 1,351,000 1,351,000 1,351,000 xbrli:pure xbrli:shares iso4217:GBP 11055338 2020-12-01 2021-11-30 11055338 2021-11-30 11055338 2020-11-30 11055338 bus:Director2 2020-12-01 2021-11-30 11055338 core:WithinOneYear 2021-11-30 11055338 core:ShareCapital 2021-11-30 11055338 core:ShareCapital 2020-11-30 11055338 core:RetainedEarningsAccumulatedLosses 2021-11-30 11055338 core:RetainedEarningsAccumulatedLosses 2020-11-30 11055338 core:CostValuation core:Non-currentFinancialInstruments 2021-11-30 11055338 core:Non-currentFinancialInstruments 2021-11-30 11055338 core:Non-currentFinancialInstruments 2020-11-30 11055338 bus:SmallEntities 2020-12-01 2021-11-30 11055338 bus:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 11055338 bus:FullAccounts 2020-12-01 2021-11-30 11055338 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 11055338 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30
COMPANY REGISTRATION NUMBER: 11055338
Riftech Limited
Filleted Unaudited Financial Statements
30 November 2021
Riftech Limited
Statement of Financial Position
30 November 2021
2021
2020
Note
£
£
Fixed assets
Investments
4
1,351,000
1,351,000
Current assets
Debtors
5
100
100
Creditors: amounts falling due within one year
6
1,575
-------
----
Net current (liabilities)/assets
( 1,475)
100
------------
------------
Total assets less current liabilities
1,349,525
1,351,100
------------
------------
Net assets
1,349,525
1,351,100
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,349,425
1,351,000
------------
------------
Shareholders funds
1,349,525
1,351,100
------------
------------
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 Section 1A of 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 year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 16 March 2022 , and are signed on behalf of the board by:
M S Montague Esq
Director
Company registration number: 11055338
Riftech Limited
Notes to the Financial Statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16-18 Barnes Wallis Road, Segensworth, Fareham, Hampshire, PO15 5TT.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Shares in group undertakings
£
Cost
At 1 December 2020 and 30 November 2021
1,351,000
------------
Impairment
At 1 December 2020 and 30 November 2021
------------
Carrying amount
At 30 November 2021
1,351,000
------------
At 30 November 2020
1,351,000
------------
5. Debtors
2021
2020
£
£
Other debtors
100
100
----
----
6. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
201
Other creditors
1,374
-------
----
1,575
-------
----