RIFT Research & Development Limited

RIFT Research & Development Limited

RIFT RESEARCH AND DEVELOPMENT LIMITED - Company Information

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Acorah Software Products - Accounts Production 5.7.056 false No description of principal activity 1 January 2016 31 December 2016 31 December 2016 08992161 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08992161 2015-12-31 08992161 2016-12-31 08992161 2016-01-01 2016-12-31 08992161 frs-core:CurrentFinancialInstruments 2016-12-31 08992161 frs-core:CurrentFinancialInstruments 2016-01-01 2016-12-31 08992161 frs-core:Non-currentFinancialInstruments 2016-12-31 08992161 frs-core:Non-currentFinancialInstruments 2016-01-01 2016-12-31 08992161 frs-core:CurrentFinancialInstruments 2016-01-01 2016-12-31 08992161 frs-core:CurrentFinancialInstruments 2016-12-31 08992161 frs-core:AfterOneYear 2016-01-01 2016-12-31 08992161 frs-core:BetweenOneFiveYears 2016-01-01 2016-12-31 08992161 frs-core:BetweenOneFiveYears 2016-12-31 08992161 frs-core:ComputerEquipment 2016-12-31 08992161 frs-core:ComputerEquipment 2016-01-01 2016-12-31 08992161 frs-core:ComputerEquipment 2015-12-31 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2015-12-31 08992161 dpl-frs:DistributionCosts dpl-frs:Item11 2015-05-01 2015-12-31 08992161 dpl-frs:AdministrativeExpenses dpl-frs:Item11 2015-05-01 2015-12-31 08992161 dpl-frs:Item12 2015-05-01 2015-12-31 08992161 dpl-frs:Item12 2015-04-30 08992161 dpl-frs:Item12 2015-12-31 08992161 dpl-frs:CostSales dpl-frs:Item12 2015-05-01 2015-12-31 08992161 dpl-frs:CostSales dpl-frs:Item12 2015-04-30 08992161 dpl-frs:CostSales dpl-frs:Item12 2015-12-31 08992161 dpl-frs:DistributionCosts dpl-frs:Item12 2015-05-01 2015-12-31 08992161 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2015-05-01 2015-12-31 08992161 1 2015-05-01 2015-12-31 08992161 frs-countries:EnglandWales 2015-05-01 2015-12-31
Registered number: 08992161
RIFT Research & Development Limited
Unaudited Financial Statements
For The Year Ended 31 December 2016
RIFT Research & Development Limited
Unaudited Financial Statements
For The Year Ended 31 December 2016
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
RIFT Research & Development Limited
Balance Sheet
As at 31 December 2016
Balance Sheet
Registered number: 08992161
31 December 2016 Period to 31 December 2015
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 219,785 419,683
Cash at bank and in hand 286,219 29,820
506,004 449,503
Creditors: Amounts Falling Due Within One Year 5 (477,886 ) (444,054 )
NET CURRENT ASSETS (LIABILITIES) 28,118 5,449
TOTAL ASSETS LESS CURRENT LIABILITIES 28,118 5,449
NET ASSETS 28,118 5,449
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and loss account 28,018 5,349
SHAREHOLDERS' FUNDS 28,118 5,449
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Dermot Kennedy
27/09/2017
Page 1
RIFT Research & Development Limited
Balance Sheet (continued)
As at 31 December 2016

The notes on pages 4 to 5 form part of these financial statements.
Page 2
RIFT Research & Development Limited
Statement of Changes in Equity
For The Year Ended 31 December 2016
Statement of Changes in Equity
Share Capital Profit & Loss Account Total
£ £ £
As at 1 May 2015 100 3,447 3,547
Profit for the period and total comprehensive income - 1,902 1,902
As at 31 December 2015 and 1 January 2016 100 5,349 5,449
Profit for the year and total comprehensive income - 22,669 22,669
As at 31 December 2016 100 28,018 28,118
Page 3
RIFT Research & Development Limited
Notes to the Unaudited Accounts
For The Year Ended 31 December 2016
Notes to the Unaudited Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4. Debtors
31 December 2016 Period to 31 December 2015
£ £
Due within one year
Trade debtors 219,785 415,413
Amounts owed by group undertakings - 4,270
219,785 419,683
5. Creditors: Amounts Falling Due Within One Year
31 December 2016 Period to 31 December 2015
£ £
Corporation tax 5,667 1,337
VAT 17,061 18,688
Other creditors - 500
Amounts owed to group undertakings - 3,628
Amounts owed to related parties 455,158 419,901
477,886 444,054
Page 4
RIFT Research & Development Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2016
6. Share Capital
Value Number 31 December 2016 Period to 31 December 2015
Allotted, called up and fully paid £ £ £
Ordinary shares 1.000 100 100 100
7. Related Party Transactions
The ultimate controlling party is Mrs J L Post by virtue of ownership of 100% of the issued share capital of the company's immediate parent RIFT Group Limited, which itself owns 100% of the issues share capital of the company.
8. General Information
RIFT Research & Development Limited Registered number 08992161 is a limited by shares company incorporated in England & Wales. The Registered Office is 200 Eureka Park, Upper Pemberton, Ashford, Kent, TN25 4AZ.
Page 5