Company No: 12808507 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	A Wastnage
	R J Wastnage

REGISTERED OFFICE	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	SO15 2BG
	United Kingdom

COMPANY NUMBER

12808507 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	Hampshire
	SO15 2BG

	Note	2024		2023
		£		£
Fixed assets
Investments	3	2,391,776		891,776
		2,391,776		891,776
Current assets
Debtors	4	275,440		250,440
		275,440		250,440
Creditors: amounts falling due within one year	5	( 3,464,547)		( 1,933,222)
Net current liabilities		(3,189,107)		(1,682,782)
Total assets less current liabilities		(797,331)		(791,006)
Net liabilities		( 797,331)		( 791,006)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 797,332 )		( 791,007 )
Total shareholder's deficit		( 797,331)		( 791,006)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of RNIE Investments Limited (registered number: 12808507) were approved and authorised for issue by the Board of Directors on 22 September 2025. They were signed on its behalf by:

R J Wastnage Director

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

RNIE Investments 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 4th Floor Cumberland House, 15-17 Cumberland Place, Southampton, SO15 2BG, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of RNIE Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

At the Balance Sheet date, the Company's liabilities exceeded its assets. The day to day operation of the Company is dependent upon support from its directors and parent company. The directors have confirmed that such support will continue to be forthcoming, so the directors consider it appropriate to prepare the financial statements on a going concern basis.

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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

	Investments in associates		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	1,641,776		1,641,776
Additions	1,500,000		1,500,000
At 31 December 2024	3,141,776		3,141,776
Provisions for impairment
At 01 January 2024	750,000		750,000
At 31 December 2024	750,000		750,000
Carrying value at 31 December 2024	2,391,776		2,391,776
Carrying value at 31 December 2023	891,776		891,776

Investments in shares

Name of entity	Registered office	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023	Held
One Atlantek Ltd	2 Carveor Moor, Bodelva, Par, United Kingdom, PL24 2TB	Ordinary	50.00%	50.00%	Direct
Kurrent Limited (Previously Event Store Limited)	Unit 5 Paulton House, Old Mills, Paulton, Bristol, United Kingdom, BS39 7SX	Ordinary	24.00%	28.00%	Direct

4. Debtors

	2024		2023
	£		£
Amounts owed by associates	275,440		250,440

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	3,318,220		1,769,847
Amounts owed to directors	140,002		140,002
Accruals	6,325		23,373
	3,464,547		1,933,222

6. Related party transactions

The Company has taken advantage of the exemption under FRS 102 Section 33.1A not to disclose transactions with wholly owned group entities.

During the year, the Company maintained a loan account with One Atlantek Ltd, an associated undertaking. At the year end, RNIE Investments Limited was owed £275,440 (2023: 250,440). This loan is interest fee and repayable on demand.

During the year, the directors maintained a loan account with the Company. At the year end, the Company owed the directors £140,002 (2023: £140,002). This loan is interest free and repayable on demand.

7. Ultimate controlling party

The ultimate parent undertaking is RNIE Group Limited, a company registered in United Kingdom

The directors do not consider there to be an ultimate controlling party.