Ryjen Electronics Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Ryjen Electronics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05667252 . The registered office is 7 Bramble End, Sawtry, Huntingdon, Cambridgeshire, PE28 5QH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

2G mobile data has coverage and ongoing support issues. Ryjen's product used 2G a telematic function, this will stop working when it is switched off. During the year 2024/25 Ryjen carried out a project to research what to use instead, develop the solution to integrate it with our product and test it.

The project aimed to eliminate dependency on 2G-based communication systems used by our embedded electronic control unit, as 2G networks are being phased out. At the start of the project, the existing scientific and engineering knowledge I have did not provide clear guidance on which alternative communication technology to select or how to integrate it effectively into our device. Specifically, there was uncertainty around the technical challenges of incorporating 3G, 4G LTE, or other wireless technologies within the constraints of our hardware, including power consumption, PCB design, software integration and ensuring reliable network connectivity.

The project sought to improve this knowledge by researching, testing, and developing new hardware and firmware solutions to successfully transition from 2G to a suitable next-generation communication system.

The project aimed to achieve an advance in the integration of a 4G LTE communication solution into our existing embedded control unit (ECU), replacing the legacy 2G system. There was no clear or proven method for integrating this technology into our system, which operates under strict constraints around power consumption, physical space, and firmware compatibility. The intended advance was to generate new technical knowledge around the evaluation, configuration, and integration of 4G LTE modules into a custom ECU design — including the development of a suitable PCB layout and communication firmware capable of reliably managing LTE connectivity. Achieving this required original research, testing, and iterative development to assess feasibility and performance, as the available reference designs and documentation did not directly support our system requirements.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on Reducing Balance Method
Motor Vehicles	10% on Reducing Balance Method
Fixtures & Fittings	25% on Reducing Balance Method
Computer Equipment	25% on Reducing Balance Method

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Ryjen Electronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2024	10,759	60,849	23,877	4,469	99,954
Additions	250	-	-	829	1,079
Disposals	-	-	(1,456 )	-	(1,456 )

As at 31 January 2025	11,009	60,849	22,421	5,298	99,577

...CONTINUED

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Ryjen Electronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

Depreciation
As at 1 February 2024	10,158	6,079	23,136	1,563	40,936
Provided during the period	195	5,477	322	744	6,738
Disposals	-	-	(1,380 )	-	(1,380 )

As at 31 January 2025	10,353	11,556	22,078	2,307	46,294

Net Book Value
As at 31 January 2025	656	49,293	343	2,991	53,283

As at 1 February 2024	601	54,770	741	2,906	59,018

5. Stocks

	2025	2024
	£	£
Stock	17,101	23,272

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	18,590	33,840
Amounts recoverable on contracts	-	588
Prepayments and accrued income	440	-

	19,030	34,428

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	10,333	10,315
Corporation tax	11,886	24,836
VAT	8,256	16,466
Accruals and deferred income	1,401	1,290
Directors' loan accounts	5,380	41,004

	37,256	93,911

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,306	14,639

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	10,333	10,315
Later than one year and not later than five years	4,306	14,639

	14,639	24,954

	14,639	24,954

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Ryjen Electronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		53,283		59,018

			53,283		59,018
CURRENT ASSETS
Stocks	5	17,101		23,272
Debtors	6	19,030		34,428
Cash at bank and in hand		148,551		176,324

		184,682		234,024
Creditors: Amounts Falling Due Within One Year	7	(37,256 )		(93,911 )

NET CURRENT ASSETS (LIABILITIES)			147,426		140,113

TOTAL ASSETS LESS CURRENT LIABILITIES			200,709		199,131

Creditors: Amounts Falling Due After More Than One Year	8		(4,306 )		(14,639 )

NET ASSETS			196,403		184,492

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			196,401		184,490

SHAREHOLDERS' FUNDS			196,403		184,492