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Company No: 02488556 (England and Wales)

RISL LIMITED

Unaudited Financial Statements
For the financial year ended 28 April 2024
Pages for filing with the registrar

RISL LIMITED

Unaudited Financial Statements

For the financial year ended 28 April 2024

Contents

RISL LIMITED

BALANCE SHEET

As at 28 April 2024
RISL LIMITED

BALANCE SHEET (continued)

As at 28 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,200 1,200
1,200 1,200
Current assets
Debtors 4 50,000 50,000
Cash at bank and in hand 5 66 66
50,066 50,066
Creditors: amounts falling due within one year 6 ( 1,046,674) ( 1,046,674)
Net current liabilities (996,608) (996,608)
Total assets less current liabilities (995,408) (995,408)
Creditors: amounts falling due after more than one year 7 ( 46,008) ( 46,008)
Net liabilities ( 1,041,416) ( 1,041,416)
Capital and reserves
Called-up share capital 8 20,000 20,000
Profit and loss account ( 1,061,416 ) ( 1,061,416 )
Total shareholder's deficit ( 1,041,416) ( 1,041,416)

For the financial year ending 28 April 2024 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 RISL Limited (registered number: 02488556) were approved and authorised for issue by the Director on 22 April 2025. They were signed on its behalf by:

S Vatidis
Director
RISL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 April 2024
RISL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 April 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

RISL 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 Regent House, 316 Beulah Hill, London, SE19 3HF, 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 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. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

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 4 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 reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 10 % 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 29 April 2023 57,972 57,972
At 28 April 2024 57,972 57,972
Accumulated depreciation
At 29 April 2023 56,772 56,772
At 28 April 2024 56,772 56,772
Net book value
At 28 April 2024 1,200 1,200
At 28 April 2023 1,200 1,200

4. Debtors

2024 2023
£ £
Other debtors 50,000 50,000

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 66 66

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 1,046,674 1,046,674

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

2024 2023
£ £
Other creditors 46,008 46,008

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,000 £1 ordinary shares of £ 1.00 each 20,000 20,000

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amount owed from related party 50,000 50,000