2 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,351,000 1,351,000 1,351,000 xbrli:pure xbrli:shares iso4217:GBP 11055338 2022-12-01 2023-11-30 11055338 2023-11-30 11055338 2022-11-30 11055338 2021-12-01 2022-11-30 11055338 2022-11-30 11055338 2021-11-30 11055338 bus:Director2 2022-12-01 2023-11-30 11055338 core:WithinOneYear 2023-11-30 11055338 core:WithinOneYear 2022-11-30 11055338 core:ShareCapital 2023-11-30 11055338 core:ShareCapital 2022-11-30 11055338 core:RetainedEarningsAccumulatedLosses 2023-11-30 11055338 core:RetainedEarningsAccumulatedLosses 2022-11-30 11055338 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 11055338 core:Non-currentFinancialInstruments 2023-11-30 11055338 core:Non-currentFinancialInstruments 2022-11-30 11055338 bus:SmallEntities 2022-12-01 2023-11-30 11055338 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11055338 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11055338 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11055338 bus:FullAccounts 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 11055338
Riftech Limited
Filleted Unaudited Financial Statements
30 November 2023
Riftech Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
1,351,000
1,351,000
Current assets
Debtors
6
100
100
Creditors: amounts falling due within one year
7
4,179
2,824
-------
-------
Net current liabilities
4,079
2,724
------------
------------
Total assets less current liabilities
1,346,921
1,348,276
------------
------------
Net assets
1,346,921
1,348,276
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,346,821
1,348,176
------------
------------
Shareholders funds
1,346,921
1,348,276
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 July 2024 , and are signed on behalf of the board by:
M S Montague Esq
Director
Company registration number: 11055338
Riftech Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16-18 Barnes Wallis Road, Segensworth, Fareham, Hampshire, PO15 5TT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 December 2022 and 30 November 2023
1,351,000
------------
Impairment
At 1 December 2022 and 30 November 2023
------------
Carrying amount
At 30 November 2023
1,351,000
------------
At 30 November 2022
1,351,000
------------
6. Debtors
2023
2022
£
£
Other debtors
100
100
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
215
Other creditors
4,179
2,609
-------
-------
4,179
2,824
-------
-------
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2023
2022
2023
2022
£
£
£
£
Symbios Solutions Limited
1,542
(1,323)
( 2,866)
( 1,323)
-------
-------
-------
-------
Symbios Solutions Limited is a company under the control of the directors.