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REGISTERED NUMBER: 13822850 (England and Wales)















Audited Financial Statements

for the Year Ended 31 December 2023

for

RIVERY TECHNOLOGIES UK LIMITED

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIVERY TECHNOLOGIES UK LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C Swaine
V A Rainey





REGISTERED OFFICE: Fourth Floor St James House
St James Square
Cheltenham
GL50 3PR





REGISTERED NUMBER: 13822850 (England and Wales)





AUDITORS: Mark Arber Limited
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,781 11,846

CURRENT ASSETS
Debtors 5 110,180 33,356
Cash at bank 444,632 205,312
554,812 238,668
CREDITORS
Amounts falling due within one year 6 371,364 249,774
NET CURRENT ASSETS/(LIABILITIES) 183,448 (11,106 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,229

740

CREDITORS
Amounts falling due after more than
one year

7

212,466

-
NET (LIABILITIES)/ASSETS (21,237 ) 740

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 56,591 26,185
Retained earnings (77,928 ) (25,545 )
(21,237 ) 740

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 4 April 2025 and were signed on its behalf by:





V A Rainey - Director


RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Rivery Technologies UK 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment3 years straight line

Taxation
Taxation for the year 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 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.

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report. The Company relies on the continued support from its parent company Boomi Technologies Israel Limited (formerly Rivery Technologies Limited) which has confirmed that it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 14,088
Additions 903
At 31 December 2023 14,991
DEPRECIATION
At 1 January 2023 2,242
Charge for year 4,968
At 31 December 2023 7,210
NET BOOK VALUE
At 31 December 2023 7,781
At 31 December 2022 11,846

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 85,093 -
Other debtors 25,087 33,356
110,180 33,356

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,059 17,058
Amounts owed to group undertakings 325,436 179,748
Other creditors 35,869 52,968
371,364 249,774

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 212,466 -

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

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

9. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,272 (2022: £18,598). Contributions totalling £4,823 (2022: £6,174) were payable to the fund at the balance sheet date and are included in creditors.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 section 33.1 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

RIVERY TECHNOLOGIES UK LIMITED (REGISTERED NUMBER: 13822850)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. ULTIMATE CONTROLLING PARTY

At the balance sheet date the Company was a wholly owned subsidiary of Boomi Technologies Israel Limited (formerly Rivery Technologies Limited), a company incorporated in Israel.
The smallest group in which the results of the Company are consolidated for 31st December 2023 is that headed by Boomi Technologies Israel Limited (formerly Rivery Technologies Limited.), with its place of business at Derech Menachem Begin 11, 15th floor, Ramat Gan, Israel.

On 19th December 2024, the parent company of Rivery Technologies UK Limited, Boomi Technologies Israel Limited (formerly Rivery Technologies Limited) was acquired by Boomi Redwood Israel Ltd, with its ultimate controlling party being Boomi, TopCo, LP., a limited partnership, registered in Delaware, US.

12. SHARE-BASED PAYMENT TRANSACTIONS

The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.