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REGISTERED NUMBER: 13295047 (England and Wales)







FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

FOR

RIIFO UK LTD

RIIFO UK LTD (REGISTERED NUMBER: 13295047)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIIFO UK LTD

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023







DIRECTORS: J Cheng
L He
L Jianbo
S L Marklew
L Wanping



REGISTERED OFFICE: Spear House Cobbett Road
Burntwood Business Park
Burntwood
WS7 3GR



REGISTERED NUMBER: 13295047 (England and Wales)



SENIOR STATUTORY AUDITOR: Morgan Davies FCA



AUDITORS: Prime
Chartered Accountants
Statutory Auditor
161 Newhall Street
Birmingham
B3 1SW

RIIFO UK LTD (REGISTERED NUMBER: 13295047)

BALANCE SHEET
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,097 2,919

CURRENT ASSETS
Stocks 442,185 578,618
Debtors 4 445,778 238,955
Cash at bank 117,881 147,348
1,005,844 964,921
CREDITORS
Amounts falling due within one year 5 1,307,377 1,033,943
NET CURRENT LIABILITIES (301,533 ) (69,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(298,436

)

(66,103

)

CREDITORS
Amounts falling due after more than one
year

6

419,807

419,807
NET LIABILITIES (718,243 ) (485,910 )

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (768,243 ) (535,910 )
(718,243 ) (485,910 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





S L Marklew - Director


RIIFO UK LTD (REGISTERED NUMBER: 13295047)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


1. 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.

Whilst the company is insolvent, the accounts have been prepared on the going concern basis as the
company continues to have the support of it's parent company and the wider group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at varying annual rates based on the assets period of useful economic lives.

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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 5 ) .

RIIFO UK LTD (REGISTERED NUMBER: 13295047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 3,559
Additions 975
At 31 December 2023 4,534
DEPRECIATION
At 1 April 2023 640
Charge for period 797
At 31 December 2023 1,437
NET BOOK VALUE
At 31 December 2023 3,097
At 31 March 2023 2,919

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 177,846 109,084
Other debtors 267,932 129,871
445,778 238,955

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 1,218,504 984,351
Taxation and social security 25,473 30,941
Other creditors 63,400 18,651
1,307,377 1,033,943

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Other creditors 419,807 419,807

RIIFO UK LTD (REGISTERED NUMBER: 13295047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2023
£    £   
Within one year 8,218 8,218
Between one and five years 8,903 15,067
17,121 23,285

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Morgan Davies FCA (Senior Statutory Auditor)
for and on behalf of Prime

9. RELATED PARTY DISCLOSURES

During the period Riifo UK Ltd made £358,919 (2023: £423,218) worth of purchases from Rifeng Enterprise Group Co. - the ultimate parent company. At the financial year end the balance owing to Rifeng Enterprise Group Co. was £1,153,784 (2023: £937,511). Riifo UK Ltd made £Nil (2023: £11,359) worth of sales to Riifo EU BV. - the subsidiary based in Europe. The balance at the financial year end was £Nil (2023: £11,359) owed from Riifo EU BV. At the financial year end the balance owing to Riifo Group International Holdings Limited (holding company) was £419,807 (2023: £419,807).

10. ULTIMATE CONTROLLING PARTY

The Parent and Ultimate Holding Company is Rifeng Enterprise Group Co. a company based in China.