| Rigglo X Investments Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
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Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
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|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Cryptocurrency: |
|
|
Cost |
|
At 1 January 2024 |
4,436 |
|
Additions |
2,047 |
|
At 31 December 2024 |
6,483 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
6,483 |
|
At 31 December 2023 |
4,436 |
|
|
|
|
|
|
|
|
|
| 4 |
Cryptocurrency Holdings |
|
|
The Company's cryptocurrency holdings are initially recognised at cost then subsequently measured at fair value. Gains or losses arising from changes in fair value of cryptocurrency holdings are recognised in the profit and loss statement.
The fair value of cryptocurrency holdings is determined using quoted market prices from reputable cryptocurrency exchanges. |
|
|
The Company's cryptocurrency holdings are initially recognised at cost then subsequently measured at fair value. Gains or losses arising from changes in fair value of cryptocurrency holdings are recognised in the profit and loss statement.
The fair value of cryptocurrency holdings is determined using quoted market prices from reputable cryptocurrency exchanges. |
| 5 |
Risks Associated with Cryptocurrency Holdings |
|
|
The Company acknowledges that its cryptocurrency holdings are subject to various risks, including market volatility, regulatory changes, and cybersecurity risks. These risks could materially impact the fair value of the cryptocurrency holdings and the Company's financial performance. |
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| 6 |
Future Developments |
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The Company is closely monitoring developments in accounting standards related to cryptocurrencies and will adjust its accounting policies and disclosures as necessary to remain compliant with emerging standards |
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| 7 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Intercompany loan |
|
|
|
|
2,550 |
|
- |
|
Other debtors |
1,440 |
|
- |
|
|
|
|
|
|
3,990 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Intercompany loan |
|
|
|
|
10,700 |
|
4,500 |
|
Other creditors |
360 |
|
97 |
|
|
|
|
|
|
11,060 |
|
4,597 |
|
|
|
|
|
|
|
|
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| 9 |
Other information |
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Rigglo X Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Raaj Radia Hubspace Stanmore |
|
582 Honeypot Lane |
|
Stanmore |
|
HA7 1JS |