REGISTERED NUMBER: 12243691 (England and Wales)

RIFT HOLDINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Director:

S P McKay

Registered office:

Unit 12 Sixways Industrial Estate

Barnards Green Road

Malvern

Worcestershire

WR14 3NB

Registered number:

12243691 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

Fixed assets

Intangible assets

4

3,190,000

3,190,000

Investments

5

-

7,700

3,190,000

3,197,700

Current assets

Debtors

6

347,866

746,411

Creditors

Amounts falling due within one year

7

316,680

748,611

Net current assets/(liabilities)

31,186

(2,200

)

Total assets less current liabilities

3,221,186

3,195,500

Creditors

Amounts falling due after more than one year

8

417,466

-

Net assets

2,803,720

3,195,500

Capital and reserves

Called up share capital

9

10,000

10,000

Retained earnings

2,793,720

3,185,500

Shareholders' funds

2,803,720

3,195,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 29 October 2025 and were signed by:

S P McKay - Director

1.	General information

RIFT Holdings LTD (''the company'') is a limited company incorporated and domiciled in the United Kingdom and registered in England and Wales.The registered office address can be found on the Company Information page.

The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 October 2024 (2023: year ended 31 October 2023).

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.

Patents and licences

The patents and licenses are valued by an external third party and will be valued every year for the financial statements.

Taxation

Taxation for the year comprises current 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.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as other debtors and creditors and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount that the company would receive for the asset if it were to be sold at the balance sheet date.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - 2 ).

4.	Intangible fixed assets

Patents and

licences

£

Cost

At 1 November 2023

and 31 October 2024

3,190,000

Net book value

At 31 October 2024

3,190,000

At 31 October 2023

3,190,000

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 November 2023

7,700

Impairments

(7,700

)

At 31 October 2024

-

Net book value

At 31 October 2024

-

At 31 October 2023

7,700

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Amounts owed by group undertakings

347,866

746,411

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

97,180

526,611

Directors' current accounts

219,500

219,500

Accrued expenses

-

2,500

316,680

748,611

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Amounts owed to group undertakings

417,466

-

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

£1

10,000

10,000