Riot Labs Limited 31/12/2020 iXBRL
Riot Labs Limited 31/12/2020 iXBRL
Company registration number:
11078580
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Accountants |
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1 South House | ||
Bond Avenue | ||
Milton Keynes | ||
Buckinghamshire | ||
MK1 1SW | ||
Directors report
Year ended 31 December 2020
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2020.
Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
22 October 2021
and signed on behalf of the board by:
Director
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Riot Labs Limited
Year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Riot Labs Limited for the year ended 31 December 2020 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Riot Labs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Riot Labs Limited and state those matters that we have agreed to state to the board of directors of Riot Labs Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riot Labs Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Riot Labs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Riot Labs Limited. You consider that Riot Labs Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Riot Labs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
1 South House
Bond Avenue
Milton Keynes
Buckinghamshire
MK1 1SW
Date:
Statement of financial position
31 December 2020
31/12/20 | 31/12/19 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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Tangible assets | 6 |
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Current assets | |||||||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 October 2021
, and are signed on behalf of the board by:
Director
Company registration number:
11078580
Notes to the financial statements
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in Engalnd and Wales. The address of the registered office is 6 Saxon Park, Holdom Avenue, Milton Keynes, Buckinghamshire, MK1 1QU.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment
Stocks
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Staff costs
The average number of persons employed by the company during the year amounted to
30
(2019:
22
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The aggregate payroll costs incurred during the year were:
Year | Period | |||
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31/12/20 | 31/12/19 | |||
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Wages and salaries |
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Social security costs |
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Other pension costs |
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5.
Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2020 |
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Additions | 2,000 | 2,000 | |
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At 31 December 2020 |
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Amortisation | |||
At 1 January 2020 |
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Charge for the year |
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At 31 December 2020 |
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Carrying amount | |||
At 31 December 2020 |
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At 31 December 2019 |
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6.
Tangible assets
Freehold property | Short leasehold property | Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | £ | £ | ||
Cost | |||||||
At 1 January 2020 | - |
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Additions |
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At 31 December 2020 |
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Depreciation | |||||||
At 1 January 2020 | - |
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Charge for the year |
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At 31 December 2020 |
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Carrying amount | |||||||
At 31 December 2020 |
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At 31 December 2019 | - |
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7.
Debtors
31/12/20 | 31/12/19 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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8.
Creditors: amounts falling due within one year
31/12/20 | 31/12/19 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes | 171,597 | 171,496 | ||
Other creditors |
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9.
Creditors: amounts falling due after more than one year
31/12/20 | 31/12/19 | |||
£ | £ | |||
Other creditors |
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10.
Other financial commitments