Rivendell International Limited - Limited company accounts 11.4

Rivendell International Limited - Limited company accounts 11.4


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REGISTERED NUMBER: 00178176(England and Wales)











Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2013

for

Rivendell International Limited

Rivendell International Limited (Registered number: 00178176)






Contents of the Financial Statements
for the Year Ended 31 December 2013




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3 to 4

Profit and Loss Account 5

Statement of Total Recognised Gains and Losses 6

Balance Sheet 7

Notes to the Financial Statements 8 to 11


Rivendell International Limited

Company Information
for the Year Ended 31 December 2013







DIRECTORS: Count A Henckel von Donnersmarck
Count H Henckel von Donnersmarck





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St. Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 00178176(England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Rivendell International Limited (Registered number: 00178176)

Report of the Directors
for the Year Ended 31 December 2013

The directors present their report with the financial statements of the company for the year ended
31 December 2013.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of an investment company.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2013 to the date of this
report.

Count A Henckel von Donnersmarck
Count H Henckel von Donnersmarck

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance
with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of
affairs of the company and of the profit or loss of the company for that period. In preparing these financial
statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible
for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies
Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to
have taken as a director in order to make himself aware of any relevant audit information and to establish that the
company's auditors are aware of that information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.

ON BEHALF OF THE BOARD:





Count A Henckel von Donnersmarck- Director


25 September 2014

Report of the Independent Auditors to the Members of
Rivendell International Limited

We have audited the financial statements of Rivendell International Limited for the year ended 31 December 2013 on
pages five to eleven. The financial reporting framework that has been applied in their preparation is applicable law
and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted
Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or
error. This includes an assessment of: whether the accounting policies are appropriate to the company's
circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant
accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we
read all the financial and non-financial information in the Report of the Directors to identify material inconsistencies
with the audited financial statements and to identify any information that is apparently materially incorrect based on,
or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become
aware of any apparent material misstatements or inconsistencies we consider the implications for our report.


Basis for qualified opinion on financial statements
The audit evidence available to us was limited because we were unable to obtain sufficient appropriate audit evidence
concerning the cost of the fixed asset investment, stated at £51,925 in note 6 to the financial statements.

Disclaimer of opinion on financial statements
Because of the significance of the matter described in the "Basis for qualified opinion on financial statements"
paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for our audit
opinion. Accordingly we do not express an opinion on the financial statements.

Opinion on other matter prescribed by the Companies Act 2006
Notwithstanding our disclaimer of opinion on the financial statements, in our opinion the information given in the
Report of the Directors for the financial year for which the financial statements are prepared is consistent with the
financial statements.

Report of the Independent Auditors to the Members of
Rivendell International Limited


Matters on which we are required to report by exception

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made.
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime
and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in
preparing the Report of the Directors.




Mr J Knights A.C.A.(Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

30 September 2014

Rivendell International Limited (Registered number: 00178176)

Profit and Loss Account
for the Year Ended 31 December 2013

2013 2012
as restated
Notes £    £   

TURNOVER - -

Administrative expenses 5,854 5,896
OPERATING LOSS and
LOSS ON ORDINARY ACTIVITIES BEFORE
TAXATION

2

(5,854
)
(5,896
)

Tax on loss on ordinary activities 3 - -
LOSS ON ORDINARY ACTIVITIES AFTER
TAXATION

(5,854
)
(5,896
)

Extraordinary items after taxation 4 - 53,860
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (5,854 ) 47,964

Rivendell International Limited (Registered number: 00178176)

Statement of Total Recognised Gains and Losses
for the Year Ended 31 December 2013

2013 2012
as restated
£    £   

(LOSS)/PROFIT FOR THE FINANCIAL YEAR (5,854 ) 47,964

TOTAL RECOGNISED GAINS AND LOSSES RELATING TO THE
YEAR

(5,854
)
47,964
Note
Prior year adjustment 5 53,860 (5,491 )
TOTAL GAINS AND LOSSES RECOGNISED SINCE LAST
ANNUAL REPORT

48,006

42,473

Rivendell International Limited (Registered number: 00178176)

Balance Sheet
31 December 2013

2013 2012
as restated
Notes £    £    £    £   
FIXED ASSETS
Investments 6 51,925 51,925

CREDITORS
Amounts falling due within one year 7 3,600 3,600
NET CURRENT LIABILITIES (3,600 ) (3,600 )
TOTAL ASSETS LESS CURRENT LIABILITIES 48,325 48,325

CREDITORS
Amounts falling due after more than one
year

8

112,012

106,158
NET LIABILITIES (63,687 ) (57,833 )

CAPITAL AND RESERVES
Called up share capital 9 49,050 49,050
Profit and loss account 10 (112,737 ) (106,883 )
SHAREHOLDERS' FUNDS (63,687 ) (57,833 )

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).


The financial statements were approved by the Board of Directors on 25 September 2014and were signed on its
behalf by:





Count A Henckel von Donnersmarck- Director


Rivendell International Limited (Registered number: 00178176)

Notes to the Financial Statements
for the Year Ended 31 December 2013

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

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.

Fixed assets investment
The investment is in an associated company and is stated at cost less provision for any diminution in value.

Going concern
At the balance sheet date the company had net liabilities. Included within creditors due after more than one
year is an amount owed to the parent company Taberg International Holdings GmbH. The directors of the
parent company have confirmed that they will not request repayment of the amount within twelve months of
the date the accounts are approved. On this basis the directors consider the accounts are correctly drawn up
on a going concern basis.

2. OPERATING LOSS

The operating loss is stated after charging:

2013 2012
as restated
£    £   
Auditors' remuneration 3,420 3,600
Foreign exchange differences 2,268 30

Directors' remuneration and other benefits etc - 2,000

3. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2013 nor for the
year ended 31 December 2012.

4. EXTRAORDINARY ITEMS
2013 2012
as restated
£    £   
Extraordinary items - 53,860

The extraordinary item arises as described in note 5 below.

Rivendell International Limited (Registered number: 00178176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2013

5. PRIOR YEAR ADJUSTMENT

The financial statements for the year ended 31st December 2012 have been restated. The inter company loan
balance shown therein did not reconcile to that of the company's parent company, Taberg International
Holdings GmbH and the auditors to Rivendell International Limited duly qualified their report on this point.
The loan is expressed in Euros and in the parent company's accounts stood at 129,881 Euros as at 31st
December 2012 and 2013. The directors have decided to rectify this matter by writing down the loan in the
accounts of Rivendell International Limited by an amount of £53,860 by way of an extraordinary credit to the
profit and loss account.

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2013
and 31 December 2013 51,925
NET BOOK VALUE
At 31 December 2013 51,925
At 31 December 2012 51,925

The company's investments at the balance sheet date in the share capital of companies include the following:

Associated company

Karntner Montanindustrie GmbH
Country of incorporation: Austria
Nature of business: Mining and production of iron ore pigments
%
Class of shares: holding
Ordinary 5.00

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2013 2012
as restated
£    £   
Accruals 3,600 3,600

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2013 2012
as restated
£    £   
Amounts owed to group undertakings 112,012 106,158

Rivendell International Limited (Registered number: 00178176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2013

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: as restated
£    £   
490,500 Ordinary 10p 49,050 49,050

10. RESERVES
Profit
and loss
account
£   

At 1 January 2013 (160,743 )
Prior year adjustment 53,860
(106,883 )
Deficit for the year (5,854 )
At 31 December 2013 (112,737 )


11. ULTIMATE PARENT COMPANY

Taberg International Holding GmbH(incorporated in Austria ) is regarded by the directors as being the
company's ultimate parent company.

12. RELATED PARTY DISCLOSURES

Taberg International Holdings GmbH

Parent company


2013 2012
as restated
£    £   
Amount due to related party at the balance sheet date 108,450 106,158

Kaerntner Montanindustrie GmbH,

A company controlled by Taberg International Holdings GmbH


During the year payments of £3,562 (2012 : £3,250) were made on behalf of Rivendell International Limited.

2013 2012
as restated
£    £   
Amount due to related party at the balance sheet date 3,562 -

Rivendell International Limited (Registered number: 00178176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2013

13. ULTIMATE CONTROLLING PARTY

The controlling party is Count A Henckel von Donnersmarck.

Control is by virtue of his controlling interest in the parent company, Taberg International Holding GmbH.