Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr B F Beadle 21/02/2025 28/08/2009 Mr D J Liddiard 28/08/2009 24 March 2025 The principal activity of the company during the financial year was the development, sale and rental of properties. 05935765 2024-12-31 05935765 bus:Director1 2024-12-31 05935765 bus:Director2 2024-12-31 05935765 2023-12-31 05935765 core:CurrentFinancialInstruments 2024-12-31 05935765 core:CurrentFinancialInstruments 2023-12-31 05935765 core:Non-currentFinancialInstruments 2024-12-31 05935765 core:Non-currentFinancialInstruments 2023-12-31 05935765 core:ShareCapital 2024-12-31 05935765 core:ShareCapital 2023-12-31 05935765 core:RetainedEarningsAccumulatedLosses 2024-12-31 05935765 core:RetainedEarningsAccumulatedLosses 2023-12-31 05935765 bus:OrdinaryShareClass1 2024-12-31 05935765 2024-01-01 2024-12-31 05935765 bus:FilletedAccounts 2024-01-01 2024-12-31 05935765 bus:SmallEntities 2024-01-01 2024-12-31 05935765 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05935765 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05935765 bus:Director1 2024-01-01 2024-12-31 05935765 bus:Director2 2024-01-01 2024-12-31 05935765 2023-01-01 2023-12-31 05935765 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 05935765 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05935765 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05935765 (England and Wales)

RIGIT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

RIGIT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

RIGIT LIMITED

BALANCE SHEET

As at 31 December 2024
RIGIT LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 370,000 500,000
370,000 500,000
Current assets
Debtors 4 997 997
Cash at bank and in hand 14,217 5,821
15,214 6,818
Creditors: amounts falling due within one year 5 ( 2,958) ( 2,700)
Net current assets 12,256 4,118
Total assets less current liabilities 382,256 504,118
Creditors: amounts falling due after more than one year 6 ( 483,921) ( 605,131)
Net liabilities ( 101,665) ( 101,013)
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account ( 102,665 ) ( 102,013 )
Total shareholders' deficit ( 101,665) ( 101,013)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rigit Limited (registered number: 05935765) were approved and authorised for issue by the Director on 24 March 2025. They were signed on its behalf by:

Mr D J Liddiard
Director
RIGIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
RIGIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Rigit 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 C/O Francis Clark Llp Unit 18, 23 Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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:

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.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 500,000
Disposals (130,000)
As at 31 December 2024 370,000

4. Debtors

2024 2023
£ £
Other debtors 997 997

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 2,958 2,700

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

2024 2023
£ £
Other creditors 483,921 605,131

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

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000