Silverfin false 31/03/2023 07/02/2022 31/03/2023 A Littner 07/02/2022 W Van Lynden 07/02/2022 01 November 2023 The principal activity of the Company during the financial year was that of a financial intermediation. 13897992 2023-03-31 13897992 bus:Director1 2023-03-31 13897992 bus:Director2 2023-03-31 13897992 core:CurrentFinancialInstruments 2023-03-31 13897992 core:ShareCapital 2023-03-31 13897992 core:RetainedEarningsAccumulatedLosses 2023-03-31 13897992 core:ComputerEquipment 2022-02-06 13897992 2022-02-06 13897992 core:ComputerEquipment 2023-03-31 13897992 core:AdditionsToInvestments 2023-03-31 13897992 core:CostValuation 2023-03-31 13897992 core:CurrentFinancialInstruments 1 2023-03-31 13897992 bus:OrdinaryShareClass1 2023-03-31 13897992 2022-02-07 2023-03-31 13897992 bus:FullAccounts 2022-02-07 2023-03-31 13897992 bus:SmallEntities 2022-02-07 2023-03-31 13897992 bus:AuditExemptWithAccountantsReport 2022-02-07 2023-03-31 13897992 bus:PrivateLimitedCompanyLtd 2022-02-07 2023-03-31 13897992 bus:Director1 2022-02-07 2023-03-31 13897992 bus:Director2 2022-02-07 2023-03-31 13897992 core:ComputerEquipment core:TopRangeValue 2022-02-07 2023-03-31 13897992 core:ComputerEquipment 2022-02-07 2023-03-31 13897992 core:CurrentFinancialInstruments 2022-02-07 2023-03-31 13897992 bus:OrdinaryShareClass1 2022-02-07 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13897992 (England and Wales)

RISE FUNDING LIMITED

Unaudited Financial Statements
For the 14 month period from 07 February 2022 to 31 March 2023
Pages for filing with the registrar

RISE FUNDING LIMITED

Unaudited Financial Statements

For the 14 month period from 07 February 2022 to 31 March 2023

Contents

RISE FUNDING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
RISE FUNDING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Tangible assets 3 2,272
Investments 4 1
2,273
Current assets
Debtors 5 30,109
Cash at bank and in hand 113,187
143,296
Creditors: amounts falling due within one year 6 ( 115,577)
Net current assets 27,719
Total assets less current liabilities 29,992
Net assets 29,992
Capital and reserves
Called-up share capital 7 100
Profit and loss account 29,892
Total shareholders' funds 29,992

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rise Funding Limited (registered number: 13897992) were approved and authorised for issue by the Director. They were signed on its behalf by:

W Van Lynden
Director

01 November 2023

RISE FUNDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 07 February 2022 to 31 March 2023
RISE FUNDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 07 February 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Rise Funding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The principal activity of the Company during the financial year was that of a financial intermediation.

Reporting period length

The financial period end of the Company was changed from 28 February to 31 March. Accordingly, the current financial statements are prepared for 14 months from 7 February 2022 to 31 March 2023.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

14 month period
to 31.03.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 07 February 2022 0 0
Additions 2,655 2,655
At 31 March 2023 2,655 2,655
Accumulated depreciation
At 07 February 2022 0 0
Charge for the financial period 383 383
At 31 March 2023 383 383
Net book value
At 31 March 2023 2,272 2,272

4. Fixed asset investments

Investments in subsidiaries

31.03.2023
£
Cost
At 07 February 2022 0
Additions 1
At 31 March 2023 1
Carrying value at 31 March 2023 1

5. Debtors

31.03.2023
£
Amounts owed by Group undertakings 17,988
Prepayments 12,066
Other debtors 55
30,109

Amounts owed by Group undertakings are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

6. Creditors: amounts falling due within one year

31.03.2023
£
Amounts owed to connected companies 99,955
Accruals 3,600
Taxation and social security 12,022
115,577

Amounts owed to connected companies are unsecured, interest fee and not subject to any fixed terms of repayment.

7. Called-up share capital

31.03.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

During the period, 100 Ordinary shares of £1.00 were issued at par value.