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Registered Number: 09280334
England and Wales

 

 

 

RISE FINTECH LIMITED


Unaudited Filleted Accounts
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 1,590    2,688 
1,590    2,688 
Current assets      
Debtors 4 26,770   
Cash at bank and in hand 129,093    167,559 
155,863    167,559 
Creditors: amount falling due within one year (110,500)   (113,201)
Net current assets 45,363    54,358 
 
Total assets less current liabilities 46,953    57,046 
Creditors: amount falling due after more than one year (32,083)   (37,083)
Net assets 14,870    19,963 
 

Capital and reserves
     
Called up share capital 5 1,000    1,000 
Profit and loss account 13,870    18,963 
Shareholder's funds 14,870    19,963 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 September 2023 and were signed by:


-------------------------------
Mayank Sehgal
Director
1
General Information
Rise Fintech Limited is a private company, limited by shares, registered in England and Wales, registration number 09280334, registration address 150 High Street, Amersham, HP7 0EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it will be well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 33.33% Straight Line
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2022 1,905    1,867    3,772 
Additions    
Disposals    
At 31 December 2022 1,905    1,867    3,772 
Depreciation
At 01 January 2022 642    442    1,084 
Charge for year 476    622    1,098 
On disposals    
At 31 December 2022 1,118    1,064    2,182 
Net book values
Closing balance as at 31 December 2022 787    803    1,590 
Opening balance as at 01 January 2022 1,263    1,425    2,688 


4.

Debtors: amounts falling due within one year

2022
£
  2021
£
Other Debtors 26,770   
26,770   

5.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

2