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REGISTERED NUMBER: 10797554 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RITMIR VENTURES LTD

RITMIR VENTURES LTD (REGISTERED NUMBER: 10797554)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


RITMIR VENTURES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Director: Mr H Ritchotte





Secretary: Vistra Company Secretaries Limited





Registered office: Suite 1, 7th Floor
50 Broadway
London
SW1H 0BL





Registered number: 10797554 (England and Wales)





Accountants: Vistra Trust Company Limited
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL

RITMIR VENTURES LTD (REGISTERED NUMBER: 10797554)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 3,069 5,300
Investments 5 6,532,788 5,367,539
6,535,857 5,372,839

CURRENT ASSETS
Debtors 6 - 133,957
Investments 7 190,000 1,111,630
Cash at bank 72,091 589,316
262,091 1,834,903
CREDITORS
Amounts falling due within one year 8 (6,705,823 ) (7,341,797 )
NET CURRENT LIABILITIES (6,443,732 ) (5,506,894 )
TOTAL ASSETS LESS CURRENT LIABILITIES 92,125 (134,055 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 92,124 (134,056 )
92,125 (134,055 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





Mr H Ritchotte - Director


RITMIR VENTURES LTD (REGISTERED NUMBER: 10797554)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

RitMir Ventures Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents interest receivable in respect of the loans entered into with regulated FCA companies.

Investments
Investments relate to the investments in securities and loan agreements entered into with regulated FCA companies.

The investments are recorded at fair value with any unrealised gains or losses going through profit and loss.

Income from investments is recognised when entitlement to dividends or interest is established.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc. - 25% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.


RITMIR VENTURES LTD (REGISTERED NUMBER: 10797554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

To meet its obligations the company is dependent on additional funding from the shareholder to meet ongoing cash needs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
Cost
At 1 January 2024
and 31 December 2024 10,668
Depreciation
At 1 January 2024 5,368
Charge for year 2,231
At 31 December 2024 7,599
Net book value
At 31 December 2024 3,069
At 31 December 2023 5,300


5. FIXED ASSET INVESTMENTS
Other loans
£
At 1 January 2024 5,367,539
New in year 2,447,435
Repayment in year (1,282,186 )
At 31 December 2024 6,532,788

RITMIR VENTURES LTD (REGISTERED NUMBER: 10797554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 133,074
Other debtors - 883
- 133,957

7. CURRENT ASSET INVESTMENTS
2024 2023
£ £
Unlisted investments 190,000 1,111,630

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 303,053 258,859
Other creditors 6,402,770 7,082,938
6,705,823 7,341,797

9. OTHER COMMITMENTS

JP Morgan Chase Bank, National Association holds a fixed charge and negative pledge over the assets of the company. The details of the charge are publicly available and can be obtained from Companies' House records.