Company registration number: 15026250
Unaudited financial statements
for the period ended 31 July 2024
for
Rival Technologies Ltd
Pages for filing with the Registrar
Company registration number: 15026250
Rival Technologies Ltd
Balance sheet
as at 31 July 2024
Note £ £
Fixed assets
Intangible assets 4 474
Tangible assets 5 31,044
31,518
Current assets
Debtors 96,229
Cash at bank and in hand 1,745,422
1,841,651
Creditors: amounts falling due within one
year
(30,012)
Net current assets 1,811,639
Total assets less current liabilities 1,843,157
NET ASSETS 1,843,157
Capital and reserves
Called up share capital 1,522,803
Other reserves 789,221
Profit and loss account (468,867)
TOTAL EQUITY 1,843,157
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 31 July 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 15026250
Rival Technologies Ltd
Balance sheet - continued
as at 31 July 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 11 February 2025 and signed on its behalf by:
A Oppermann, Director
11 February 2025
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Rival Technologies Ltd
Notes to the financial statements
for the period ended 31 July 2024
1 Company information
Rival Technologies Ltd is a private company registered in England and Wales. Its registered number is 15026250. The company is limited by shares. Its registered office is Greenhill House Cowcross Street, 90-93, 3rd Floor, West, London, EC1M 6BH.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Development costs - 25% reducing balance
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Computer equipment - 25% reducing balance
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Rival Technologies Ltd
Notes to the financial statements - continued
for the period ended 31 July 2024
2 Accounting policies - continued
Taxation
Taxation for the period comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the period the average number of employees was 5.
4 Intangible assets
Other
intangible
assets
£
Cost
Additions 517
At 31 July 2024 517
Amortisation
Charge for period 43
At 31 July 2024 43
Net book value
At 31 July 2024 474
4
Rival Technologies Ltd
Notes to the financial statements - continued
for the period ended 31 July 2024
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
Additions 35,958
At 31 July 2024 35,958
Depreciation
Charge for period 4,914
At 31 July 2024 4,914
Net book value
At 31 July 2024 31,044
6 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the period ended 31 July 2024.
£
Alexander Oppermann
Amounts advanced 48
Balance outstanding at end of period 48
During the year, the company made a short-term loan to a director. There are no interest rates or conditions associated with this advance.
7 Related party transactions
There were no related party transactions entered into by the company for the period other than the loan to a director, per note 6.
8 Guarantees and other financial commitments
There were no financial guarantees or commitments, either ongoing or entered into during the period, by the company.
9 Off-balance sheet arrangements
The company had no off-balance sheet arrangements at year-end or at any stage during the period.
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