Rise Art Limited


Directors	CHEN, H Y
	FULLARTON MACKINNON, C
	PHILLIPS, S
	STEVERLYNCK, M M


Registered Address	71-75 Shelton Street
	London
	WC2H 9JQ


Registered Number	07099261 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	Rise Art is a private company, limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial
statements and their inclusion in tax assessments. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and
that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the
tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Development costs are being amortised evenly over their estimated useful life of four years.

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Development costs
	Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.

	Tangible fixed assets and depreciation
	Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	4
	Office Equipment	4

	Stocks and work in progress
	Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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. A financial asset or a financial liability is recognised only when the entity becomes a 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. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

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.

A financial asset or a financial liability is recognised only when the entity becomes a 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. 

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		5

3.	Further information regarding the company's income
	The company is entitled to a Research and Development Expenditure Credit ("RDEC") of £43,210 in respect of qualifying research and development expenditure incurred during the year. The RDEC is recognised as other income in the profit and loss account and is subject to a notional corporation tax charge of £8,210. At the year end, the company has unutilised trading losses of approximately £2.4 million available for carry forward. A deferred tax asset has not been recognised in respect of these losses as there is insufficient evidence that sufficient future taxable profits will be available against which the losses can be utilised. The notional corporation tax charge of £8,210 arising in respect of the RDEC has therefore been recognised as a tax expense in the profit and loss account. No deferred tax asset has been recognised in respect of the unutilised trading losses.

Further information regarding the company's income

The company is entitled to a Research and Development Expenditure Credit ("RDEC") of £43,210 in respect of qualifying research and development expenditure incurred during the year. The RDEC is recognised as other income in the profit and loss account and is subject to a notional corporation tax charge of £8,210.

At the year end, the company has unutilised trading losses of approximately £2.4 million available for carry forward. A deferred tax asset has not been recognised in respect of these losses as there is insufficient evidence that sufficient future taxable profits will be available against which the losses can be utilised.

The notional corporation tax charge of £8,210 arising in respect of the RDEC has therefore been recognised as a tax expense in the profit and loss account. No deferred tax asset has been recognised in respect of the unutilised trading losses.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 25	622,718	622,718
Additions	129,387	129,387
At 31 December 25	752,105	752,105
Amortisation and impairment
At 01 January 25	374,985	374,985
Charge for year	171,367	171,367
At 31 December 25	546,352	546,352
Net book value
At 31 December 25	205,753	205,753
At 31 December 24	247,733	247,733

5.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 25	100,398	3,714	20,358	124,470
Additions	-	-	7,482	7,482
At 31 December 25	100,398	3,714	27,840	131,952
Depreciation and impairment
At 01 January 25	100,398	3,714	17,627	121,739
Charge for year	-	-	1,734	1,734
At 31 December 25	100,398	3,714	19,361	123,473
Net book value
At 31 December 25	-	-	8,479	8,479
At 31 December 24	-	-	2,731	2,731

6.	Stocks

	2025	2024
	£	£
Other stocks	27,330	24,121
Total	27,330	24,121

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	24,729	110,452
Other debtors	89,549	129,161
Total	114,278	239,613

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	154,331	113,393
Taxation and social security	25,900	31,173
Other creditors	5,517	3,132
Accrued liabilities and deferred income	31,913	22,488
Total	217,661	170,186

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	8,750	8,750
Total	8,750	8,750

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		205,753		247,733
Tangible assets	5		8,479		2,731
			214,232		250,464
Current assets
Stocks	6	27,330		24,121
Debtors	7	114,278		239,613
Cash at bank and on hand		414,151		493,056
		555,759		756,790
Creditors amounts falling due within one year	8	(217,661)		(170,186)
Net current assets (liabilities)			338,098		586,604
Total assets less current liabilities			552,330		837,068
Creditors amounts falling due after one year	9		(8,750)		(8,750)
Net assets			543,580		828,318
Capital and reserves
Called up share capital			4,070		4,037
Share premium			2,976,270		2,947,437
Profit and loss account			(2,436,760)		(2,123,156)
Shareholders' funds			543,580		828,318