Riseup Moments UK Ltd 14570315 false 2023-01-04 2023-12-31 2023-12-31 The principal activity of the company is financial intermediation Digita Accounts Production Advanced 6.30.9574.0 true true 14570315 2023-01-04 2023-12-31 14570315 2023-12-31 14570315 core:CurrentFinancialInstruments 2023-12-31 14570315 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14570315 bus:SmallEntities 2023-01-04 2023-12-31 14570315 bus:AuditExemptWithAccountantsReport 2023-01-04 2023-12-31 14570315 bus:FullAccounts 2023-01-04 2023-12-31 14570315 bus:SmallCompaniesRegimeForAccounts 2023-01-04 2023-12-31 14570315 bus:RegisteredOffice 2023-01-04 2023-12-31 14570315 bus:Director3 2023-01-04 2023-12-31 14570315 bus:PrivateLimitedCompanyLtd 2023-01-04 2023-12-31 14570315 countries:EnglandWales 2023-01-04 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14570315

Prepared for the registrar

Riseup Moments UK Ltd

Annual Report and Unaudited Financial Statements

for the Period from 4 January 2023 to 31 December 2023

 

Riseup Moments UK Ltd

(Registration number: 14570315)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

4

18,528

Cash at bank and in hand

 

21,517

 

40,045

Creditors: Amounts falling due within one year

5

(439,876)

Net liabilities

 

(399,831)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(399,931)

Shareholders' deficit

 

(399,831)

For the financial period ending 31 December 2023 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 accounts for the period in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 


H Shwartszorgen
Director

 

Riseup Moments UK Ltd

Notes to the Unaudited Financial Statements for the Period from 4 January 2023 to 31 December 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Ch. Hausmann & Co
Suite 5 De Walden Court
85 New Cavendish Street
London
W1W 6XD

 

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value received for subscription sales, net of value added tax.

 

Riseup Moments UK Ltd

Notes to the Unaudited Financial Statements for the Period from 4 January 2023 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Riseup Moments UK Ltd

Notes to the Unaudited Financial Statements for the Period from 4 January 2023 to 31 December 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6.

 

4

Debtors

31 December 2023
 £

Other debtors

2,620

Prepayments

15,908

 

18,528

 

5

Creditors

Note

31 December 2023
 £

Due within one year

 

Trade creditors

 

26,263

Amounts due to related parties

6

399,563

Social security and other taxes

 

10,944

Outstanding defined contribution pension costs

 

1,687

Accrued expenses

 

1,350

Deferred income

 

69

 

439,876

 

6

Related party transactions

At 31 December 2023, the company owed its parent company Riseup Moments Ltd £399,563. The loan is unsecured, repayable on demand and no interest is payable.

 

Riseup Moments UK Ltd

Notes to the Unaudited Financial Statements for the Period from 4 January 2023 to 31 December 2023

 

7

Parent and ultimate parent undertaking

The company's immediate parent is Riseup Moments Ltd, incorporated in Israel.