Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Mr J Barton-Harvey 15/04/2024 Mr J Ellison 14/02/2018 Mr M Horner 16/11/2018 Mr K Raichura 14/02/2018 29 November 2024 The principal activity of the company is ready-made interactive leisure and entertainment software development. 11204877 2024-02-29 11204877 bus:Director1 2024-02-29 11204877 bus:Director2 2024-02-29 11204877 bus:Director3 2024-02-29 11204877 bus:Director4 2024-02-29 11204877 2023-02-28 11204877 core:CurrentFinancialInstruments 2024-02-29 11204877 core:CurrentFinancialInstruments 2023-02-28 11204877 core:Non-currentFinancialInstruments 2024-02-29 11204877 core:Non-currentFinancialInstruments 2023-02-28 11204877 core:ShareCapital 2024-02-29 11204877 core:ShareCapital 2023-02-28 11204877 core:RetainedEarningsAccumulatedLosses 2024-02-29 11204877 core:RetainedEarningsAccumulatedLosses 2023-02-28 11204877 core:Goodwill 2023-02-28 11204877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 11204877 core:Goodwill 2024-02-29 11204877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 11204877 core:OfficeEquipment 2023-02-28 11204877 core:OfficeEquipment 2024-02-29 11204877 core:CostValuation 2023-02-28 11204877 core:AdditionsToInvestments 2024-02-29 11204877 core:CostValuation 2024-02-29 11204877 bus:OrdinaryShareClass1 2024-02-29 11204877 bus:OrdinaryShareClass2 2024-02-29 11204877 2023-03-01 2024-02-29 11204877 bus:FilletedAccounts 2023-03-01 2024-02-29 11204877 bus:SmallEntities 2023-03-01 2024-02-29 11204877 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11204877 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11204877 bus:Director1 2023-03-01 2024-02-29 11204877 bus:Director2 2023-03-01 2024-02-29 11204877 bus:Director3 2023-03-01 2024-02-29 11204877 bus:Director4 2023-03-01 2024-02-29 11204877 core:Goodwill core:TopRangeValue 2023-03-01 2024-02-29 11204877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-03-01 2024-02-29 11204877 core:OfficeEquipment 2023-03-01 2024-02-29 11204877 2022-03-01 2023-02-28 11204877 core:Goodwill 2023-03-01 2024-02-29 11204877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 11204877 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 11204877 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 11204877 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11204877 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 11204877 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 11204877 1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11204877 (England and Wales)

RAVIGA GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

RAVIGA GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

RAVIGA GROUP LIMITED

BALANCE SHEET

As at 29 February 2024
RAVIGA GROUP LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 324,502 281,732
Tangible assets 4 10,844 8,833
Investments 5 8 0
335,354 290,565
Current assets
Debtors 6 166,120 19,349
Cash at bank and in hand 31,901 38,530
198,021 57,879
Creditors: amounts falling due within one year 7 ( 1,274,251) ( 758,005)
Net current liabilities (1,076,230) (700,126)
Total assets less current liabilities (740,876) (409,561)
Creditors: amounts falling due after more than one year 8 ( 19,615) ( 23,170)
Provision for liabilities ( 36,682) 0
Net liabilities ( 797,173) ( 432,731)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 797,273 ) ( 432,831 )
Total shareholder's deficit ( 797,173) ( 432,731)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Raviga Group Limited (registered number: 11204877) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

Mr K Raichura
Director
RAVIGA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
RAVIGA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

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

General information and basis of accounting

Raviga Group 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 Tech Hall Main Road, Exminster, Exeter, EX6 8AP, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £797,173. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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.

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Development costs 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 4

3. Intangible assets

Goodwill Development costs Total
£ £ £
Cost
At 01 March 2023 45,780 329,533 375,313
Additions 0 90,140 90,140
At 29 February 2024 45,780 419,673 465,453
Accumulated amortisation
At 01 March 2023 19,838 73,743 93,581
Charge for the financial year 4,578 42,792 47,370
At 29 February 2024 24,416 116,535 140,951
Net book value
At 29 February 2024 21,364 303,138 324,502
At 28 February 2023 25,942 255,790 281,732

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 March 2023 12,099 12,099
Additions 4,973 4,973
At 29 February 2024 17,072 17,072
Accumulated depreciation
At 01 March 2023 3,266 3,266
Charge for the financial year 2,962 2,962
At 29 February 2024 6,228 6,228
Net book value
At 29 February 2024 10,844 10,844
At 28 February 2023 8,833 8,833

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 March 2023 0
Additions 8
At 29 February 2024 8
Carrying value at 29 February 2024 8
Carrying value at 28 February 2023 0

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 20,668 8,370
Other debtors 145,452 10,979
166,120 19,349

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,200 3,200
Trade creditors 5,699 3,523
Amounts owed to Group undertakings 725,766 437,178
Other taxation and social security 0 5,560
Other creditors 539,586 308,544
1,274,251 758,005

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 19,615 23,170

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
9,235 Ordinary A shares of £ 0.01 each 92 92
765 Ordinary B shares of £ 0.01 each 8 8
100 100

10. Ultimate controlling party

Parent Company:

Raviga Holdings Limited , incorporated in England & Wales.

Raviga Holdings Limited is a company registered in England & Wales. Details of which can be found on public record with the registrar of companies.