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Company No: 10847350 (England and Wales)

RYGER HOLDINGS LIMITED

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

RYGER HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

RYGER HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
RYGER HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,210 0
Investment property 4 3,250,000 3,250,000
3,251,210 3,250,000
Current assets
Debtors 5 29,148 25,995
Cash at bank and in hand 143,848 57,146
172,996 83,141
Creditors: amounts falling due within one year 6 ( 3,647,618) ( 2,729,990)
Net current liabilities (3,474,622) (2,646,849)
Total assets less current liabilities (223,412) 603,151
Creditors: amounts falling due after more than one year 7 0 ( 766,358)
Net liabilities (223,412) (163,207)
Capital and reserves 8
Called-up share capital 1 1
Undistributable reserve 39,318 39,318
Profit and loss account ( 262,731) ( 202,526)
Total shareholder's deficit (223,412) (163,207)

For the financial year ending 31 July 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 Ryger Holdings Limited (registered number: 10847350) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P Thayanuwat
Director

29 April 2025

RYGER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
RYGER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Ryger Holdings 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 First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The principal activities are set out in the Director’s Report.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.

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 Statement of Financial Position 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.

Change in accounting policies

In the current year, the following new and revised standards and interpretations have been adopted by the company and have had an effect on future periods.

At the date of authorisation of these financial statements, the following standards and interpretations, which have not yet been applied in these financial statements, were in issue but not yet effective:

Turnover

Revenue represents rent receivable

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax is the tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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

Plant and machinery etc. 4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from related companies, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Staff number and costs

2024 2023
Number Number
The average monthly number of employees (including directors) was: 0 0

The comparative number has been adjusted to exclude those directors who are not employed under contracts of service

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2023 8,982 8,982
Additions 1,263 1,263
At 31 July 2024 10,245 10,245
Accumulated depreciation
At 01 August 2023 8,982 8,982
Charge for the financial year 53 53
At 31 July 2024 9,035 9,035
Net book value
At 31 July 2024 1,210 1,210
At 31 July 2023 0 0

4. Investment property

Investment property
£
Valuation
As at 01 August 2023 3,250,000
As at 31 July 2024 3,250,000

Valuation

The investment property was valued by the director at the reporting date on an open market basis by reference to market evidence of transaction prices of similar properties.

5. Debtors

2024 2023
£ £
Trade debtors 10,108 10,108
Other debtors 19,040 15,887
29,148 25,995

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 767,000 28,029
Trade creditors 17,135 0
Amounts owed to parent undertakings 2,859,920 2,675,601
Other creditors 3,563 26,360
3,647,618 2,729,990

The company's bank loan is secured by way of a fixed charge over the company's investment property.

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

2024 2023
£ £
Bank loans and overdrafts 0 766,358
Bank loans
2024 2023
£ £
Between one and two years 0 766,358
Between two and five years 0 0
After five years 0 0
0 766,358
On demand or within one year 767,000 28,029
767,000 794,387

8. Called-up share capital and reserves

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1
Presented as follows:
Called-up share capital presented as equity 1 1

9. Controlling party

Parent Company:

J&W Development Co., Ltd
No. 555 Sukhumvit 55 (Thonglor) Alley, Sukhumvit Road, Klongton-Nua Sub-district, Vadhana District, Bangkok Metropolis