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Company No: 13585535 (England and Wales)

RYLS CAPITAL LTD

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

RYLS CAPITAL LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

RYLS CAPITAL LTD

BALANCE SHEET

As at 31 August 2024
RYLS CAPITAL LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Current assets
Debtors 3 208,246 5,242
Cash at bank and in hand 42,003 76,348
250,249 81,590
Creditors: amounts falling due within one year 4 ( 3,477) 0
Net current assets 246,772 81,590
Total assets less current liabilities 246,772 81,590
Net assets 246,772 81,590
Capital and reserves
Called-up share capital 100 100
Profit and loss account 246,672 81,490
Total shareholder's funds 246,772 81,590

For the financial year ending 31 August 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 RYLS Capital LTD (registered number: 13585535) were approved and authorised for issue by the Director on 27 May 2025. They were signed on its behalf by:

R K Shah
Director
RYLS CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
RYLS CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

RYLS Capital LTD (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 Flat 21 St Stephens Close, Avenue Road, St John's Wood, NW8 6DB, 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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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.

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 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, 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.

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.

2. Employees

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

3. Debtors

2024 2023
£ £
Other debtors 208,246 5,242

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,714 0
Other creditors 1,763 0
3,477 0

5. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed by Director 111,036 5,142

During the year advances were made to the director of £123,024 (2023 : £22,694) . Repayments during the year totalled £17,130 (2023 : £17,552)

The loan to the director is unsecured, interest free, and repayable on demand.