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REGISTERED NUMBER: 12533884 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RISE CLIMBING PROJECT LIMITED

RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RISE CLIMBING PROJECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Conor Skilbeck
James Bernard Beattie Skinner





REGISTERED OFFICE: Unit 6, Caxton Works
Hoy Street
London
E16 1ZA





REGISTERED NUMBER: 12533884 (England and Wales)





ACCOUNTANTS: Stan Lee Accountancy Ltd
T/A: The Stan Lee
Chartered Certified Accountants
Level 18, 40 Bank Street
Canary Wharf
London
E14 5NR

RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,535 223,095

CURRENT ASSETS
Stocks 9,795 3,316
Debtors 5 31,112 17,613
Prepayments and accrued income 7,737 3,714
Cash at bank and in hand 53,161 56,148
101,805 80,791
CREDITORS
Amounts falling due within one year 6 17,999 15,847
NET CURRENT ASSETS 83,806 64,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,341

288,039

CAPITAL AND RESERVES
Called up share capital 7 14 14
Share premium 8 340,477 340,477
Retained earnings 8 (53,150 ) (52,452 )
SHAREHOLDERS' FUNDS 287,341 288,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





James Bernard Beattie Skinner - Director


RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Rise Climbing Project Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company’s principal activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the period of the lease
Improvements to property - No depreciation
Plant and machinery - straight line over 3 years
Fixtures and fittings - Straight line over 7 years
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
No material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern have been indentified by the directors.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 10,609 135,363 40,552
Additions - 85 5,346
At 31 March 2024 10,609 135,448 45,898
DEPRECIATION
At 1 April 2023 1,326 - 17,253
Charge for year 1,061 - 14,458
At 31 March 2024 2,387 - 31,711
NET BOOK VALUE
At 31 March 2024 8,222 135,448 14,187
At 31 March 2023 9,283 135,363 23,299

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 66,737 713 253,974
Additions 207 - 5,638
At 31 March 2024 66,944 713 259,612
DEPRECIATION
At 1 April 2023 12,207 93 30,879
Charge for year 9,555 124 25,198
At 31 March 2024 21,762 217 56,077
NET BOOK VALUE
At 31 March 2024 45,182 496 203,535
At 31 March 2023 54,530 620 223,095

RISE CLIMBING PROJECT LIMITED (REGISTERED NUMBER: 12533884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,112 1,470
Other debtors - 143
Rent deposit 16,000 16,000
31,112 17,613

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 618 250
Social security and other taxes (397 ) -
VAT 10,208 8,080
Other creditors 2,938 5,248
Accrued expenses 4,632 2,269
17,999 15,847

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary Shares £.00001 10 10
337,197 A Ordinary Shares £.00001 4 4
14 14

Ordinary Shares are owned by the directors who have a majority shareholding in the company. A Ordinary Shares are owned by others who have invested either under SEIS, EIS and non-SEIS / EIS schemes.

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (52,452 ) 340,477 288,025
Deficit for the year (698 ) (698 )
At 31 March 2024 (53,150 ) 340,477 287,327

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the current and previous years, the Company was under the control of its directors, by the virtue of their majority ownership of the entire issued share capital of the Company.