Riverfort Capital Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—4

1. General Information

Riverfort Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09809689 . The registered office is Office 9, Dalton House, 60 Windsor Avenue, London, SW19 2RR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In preparing these financial statements the directors have made the following judgements:

- Determined whether there are indicators of impairment of the company's unlisted investments. Factors taken into consideration in reaching such a decision include the financial viability and expected future financial performance of the asset.

- Determined that the accounting policies in place in respect of turnover recognition and measurement are reasonable.

2.3. Turnover

Turnover is recognised the the extent that is it probable the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes. The following criteria must also be me before turnover is recognised:

Turnover is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of the turnover can be reliably measured;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be reliably measured.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

3 years on a straight line basis

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

...CONTINUED

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Riverfort Capital Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.5. Financial Instruments - continued

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

2.8. Pensions

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.

2.9. Investments

Unlisted investments are recognised at cost less any provision for impairment.

Listed investments are included at fair value, with changes recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 November 2023	2,407

As at 31 October 2024	2,407

Depreciation
As at 1 November 2023	1,188
Provided during the period	802

As at 31 October 2024	1,990

Net Book Value
As at 31 October 2024	417

As at 1 November 2023	1,219

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Riverfort Capital Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	63,133	-
Amounts owed by participating interests	609,930	-
Other debtors	179,895	179,895

	852,958	179,895

6. Current Asset Investments

	2024	2023
	£	£
Listed investments	25,026	21,040
Unlisted investments	659,651	48,582

	684,677	69,622

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Other creditors	17,620	7,736
Taxation and social security	46,871	134,654

	64,491	142,390

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

At the balance sheet date an amount of £609,930 (2023: £nil) was owed to the company by Andelain Holdings Ltd, an entity under the control of the B J Kinane who is the sole director and shareholder of the company. The loan balance is interest free and repayable on demand.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		417		1,219

			417		1,219
CURRENT ASSETS
Debtors	5	852,958		179,895
Investments	6	684,677		69,622
Cash at bank and in hand		682,757		1,991,897

		2,220,392		2,241,414
Creditors: Amounts Falling Due Within One Year	7	(64,491 )		(142,390 )

NET CURRENT ASSETS (LIABILITIES)			2,155,901		2,099,024

TOTAL ASSETS LESS CURRENT LIABILITIES			2,156,318		2,100,243

NET ASSETS			2,156,318		2,100,243

CAPITAL AND RESERVES
Called up share capital	8		100		100
Income Statement			2,156,218		2,100,143

SHAREHOLDERS' FUNDS			2,156,318		2,100,243