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REGISTERED NUMBER: 07938681 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

RIAFLEX LIMITED

RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIAFLEX LIMITED

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTOR: Mrs K H Williams





REGISTERED OFFICE: 260 - 270
Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: 56 Charlcombe Rise
Portishead
North Somerset
BS20 8ND





REGISTERED NUMBER: 07938681 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,440 14,320
Tangible assets 5 13,811 18,055
24,251 32,375

CURRENT ASSETS
Stocks 60,000 150,000
Debtors 6 28,333 32,261
Cash at bank and in hand 1,658,825 1,311,840
1,747,158 1,494,101
CREDITORS
Amounts falling due within one year 7 160,600 154,665
NET CURRENT ASSETS 1,586,558 1,339,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,610,809

1,371,811

PROVISIONS FOR LIABILITIES 3,453 3,431
NET ASSETS 1,607,356 1,368,380

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,607,256 1,368,280
SHAREHOLDERS' FUNDS 1,607,356 1,368,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 2 October 2024 and were signed by:





Mrs K H Williams - Director


RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Riaflex 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Website development is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 30% 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.


RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Website
Goodwill licences development Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 10,000 400 19,400 29,800
AMORTISATION
At 1 March 2023 10,000 - 5,480 15,480
Amortisation for year - - 3,880 3,880
At 29 February 2024 10,000 - 9,360 19,360
NET BOOK VALUE
At 29 February 2024 - 400 10,040 10,440
At 28 February 2023 - 400 13,920 14,320

RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 8,993 27,000 3,184 39,177
Additions - - 499 499
At 29 February 2024 8,993 27,000 3,683 39,676
DEPRECIATION
At 1 March 2023 7,738 11,813 1,571 21,122
Charge for year 314 3,796 633 4,743
At 29 February 2024 8,052 15,609 2,204 25,865
NET BOOK VALUE
At 29 February 2024 941 11,391 1,479 13,811
At 28 February 2023 1,255 15,187 1,613 18,055

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,282 21,563
Other debtors 5,030 5,030
VAT - 2,751
Prepayments 3,021 2,917
28,333 32,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,839 34,349
Corporation tax 133,297 113,390
Taxation and social security 529 248
VAT 392 -
Other creditors 2,107 3,023
Director's current account 3,393 2,655
Accrued expenses 1,043 1,000
160,600 154,665

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 35,000 35,000
Between one and five years 78,750 113,750
113,750 148,750

RIAFLEX LIMITED (REGISTERED NUMBER: 07938681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs K H Williams.