Silverfin false 31/12/2022 17/12/2021 31/12/2022 D J Ryemill 17/12/2021 01 November 2023 The principal activity of the Company during the financial period was that of an investment company. The Company was incorporated on 17 December 2021 therefore the accounting period is from 17 December 2021 to 31 December 2022. 13807398 2022-12-31 13807398 bus:Director1 2022-12-31 13807398 core:CurrentFinancialInstruments 2022-12-31 13807398 core:ShareCapital 2022-12-31 13807398 core:RetainedEarningsAccumulatedLosses 2022-12-31 13807398 core:AdditionsToInvestments 2022-12-31 13807398 core:CostValuation 2022-12-31 13807398 core:CostValuation 2021-12-16 13807398 core:RevaluationsIncreaseDecreaseInInvestments 2022-12-31 13807398 core:ProvisionsForImpairmentInvestments 2021-12-16 13807398 core:ProvisionsForImpairmentInvestments 2022-12-31 13807398 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-12-31 13807398 2021-12-17 2022-12-31 13807398 bus:FullAccounts 2021-12-17 2022-12-31 13807398 bus:SmallEntities 2021-12-17 2022-12-31 13807398 bus:AuditExemptWithAccountantsReport 2021-12-17 2022-12-31 13807398 bus:PrivateLimitedCompanyLtd 2021-12-17 2022-12-31 13807398 bus:Director1 2021-12-17 2022-12-31 13807398 core:Subsidiary1 2021-12-17 2022-12-31 13807398 core:Subsidiary1 1 2021-12-17 2022-12-31 13807398 core:CurrentFinancialInstruments 2021-12-17 2022-12-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 13807398 (England and Wales)

RYEMILL FAMILY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial period from 17 December 2021 to 31 December 2022
Pages for filing with the registrar

RYEMILL FAMILY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial period from 17 December 2021 to 31 December 2022

Contents

RYEMILL FAMILY INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial period from 17 December 2021 to 31 December 2022
RYEMILL FAMILY INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 17 December 2021 to 31 December 2022
DIRECTOR D J Ryemill
REGISTERED OFFICE West View House 15 Church Lane
Old Sodbury
Bristol
BS37 6NB
United Kingdom
COMPANY NUMBER 13807398 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Finsgate
5-7 Cranwood Street
London
EC1V 9EE
United Kingdom

ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RYEMILL FAMILY INVESTMENTS LIMITED

For the financial period from 17 December 2021 to 31 December 2022

ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RYEMILL FAMILY INVESTMENTS LIMITED (continued)

For the financial period from 17 December 2021 to 31 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ryemill Family Investments Limited for the financial period ended 31 December 2022 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance_.

It is your duty to ensure that Ryemill Family Investments 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 loss of Ryemill Family Investments Limited. You consider that Ryemill Family Investments Limited is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Ryemill Family Investments 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.

This report is made solely to the Director of Ryemill Family Investments Limited, as a body, in accordance with the terms of our engagement letter dated 01 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Ryemill Family Investments Limited and state those matters that we have agreed to state to the director of Ryemill Family Investments 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 Ryemill Family Investments Limited and its Director as a body for our work or for this report.

Gravita Business Services Limited
Accountant

Finsgate
5-7 Cranwood Street
London
EC1V 9EE
United Kingdom

01 November 2023

RYEMILL FAMILY INVESTMENTS LIMITED

BALANCE SHEET

As at 31 December 2022
RYEMILL FAMILY INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2022
Note 31.12.2022
£
Fixed assets
Investments 3 17,253,787
17,253,787
Current assets
Debtors 4 844,469
Cash at bank and in hand 8,776
853,245
Creditors: amounts falling due within one year 5 ( 19,241,485)
Net current liabilities (18,388,240)
Total assets less current liabilities (1,134,453)
Net liabilities ( 1,134,453)
Capital and reserves
Called-up share capital 1
Profit and loss account ( 1,134,454 )
Total shareholder's deficit ( 1,134,453)

For the financial period ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ryemill Family Investments Limited (registered number: 13807398) were approved and authorised for issue by the Director on 01 November 2023. They were signed on its behalf by:

D J Ryemill
Director
RYEMILL FAMILY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 December 2021 to 31 December 2022
RYEMILL FAMILY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 December 2021 to 31 December 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Ryemill Family Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is West View House 15 Church Lane, Old Sodbury, Bristol, BS37 6NB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet, current market conditions of the investments and likely future cash flows at the date of approving these financial statements. The Company is supported by an ongoing loan from the director. The director confirms they will not recall their loan for at least 12 months from the date of signing these financial statements unless the Company has the funds to make a repayment. Given this, the director has a reasonable expectation that the Company has adequate resources and sufficient liquid assets to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
17.12.2021 to
31.12.2022
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Fixed asset investments

31.12.2022
£
Subsidiary undertakings 100
Other investments and loans 17,253,687
17,253,787

Investments in subsidiaries

31.12.2022
£
Cost
At 17 December 2021 0
Additions 100
At 31 December 2022 100
Carrying value at 31 December 2022 100
Listed investments Loans Total
£ £ £
Carrying value before impairment
At 17 December 2021 0 0 0
Additions 18,456,871 60,000 18,516,871
Movement in fair value ( 1,263,184) 0 ( 1,263,184)
At 31 December 2022 17,193,687 60,000 17,253,687
Provisions for impairment
At 17 December 2021 0 0 0
At 31 December 2022 0 0 0
Carrying value at 31 December 2022 17,193,687 60,000 17,253,687

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. Disposals are presented at cost, the cumulative fair value gains and losses recognised to the date of disposal have been included in the movement in fair value.

Other investments are held at cost less impairment because their fair value cannot be measured reliably.

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.12.2022
Ginger Orange Films UK Ltd 15 Church Lane, Old Sodbury, United Kingdom, BS37 6NB Performing arts Ordinary 100.00%

On 12 August 2022, the Company acquired 100% of the ordinary share capital of Ginger Orange Films UK Ltd, a company incorporated in the United Kingdom, for consideration of £100.

4. Debtors

31.12.2022
£
Amounts owed by own subsidiaries 842,789
Other debtors 1,680
844,469

Amounts owed by own subsidiaries are repayable on demand and do not bear interest.

5. Creditors: amounts falling due within one year

31.12.2022
£
Bank overdrafts 2,123,016
Trade creditors 2,430
Other creditors 17,116,039
19,241,485

A charge has been registered in relation to the Company's assets.

6. Related party transactions

No remuneration was paid to the director during the period. The director is the only key management personnel of the Company. As at 31 December 2022 the Company owed the director £17,107,639.

During the period, the director made a loan of £60,000 (per note 4) to Hapstar Limited, a party related through common control by the director.

The Company has taken advantage of the exemptions available in Section 33 Related Party Transactions of FRS 102 to not disclose transactions between wholly owned subsidiaries in the group.

7. Ultimate controlling party

D J Ryemill is the ultimate controlling party by virtue of his shareholding.