RIGS PROPERTIES LTD


Directors	SELVANATHAR, Rachel Dianka
	SELVANATHAR, Zita Irene


Registered Address	7 Link Lane
	Wallington
	SM6 9EA


Registered Number	14532801 (England and Wales)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		394		787
Investment property	4		956,981		466,481
			957,375		467,268
Current assets
Cash at bank and on hand		4,552		14,164
		4,552		14,164
Creditors amounts falling due within one year	5	(459,631)		(269,616)
Net current assets (liabilities)			(455,079)		(255,452)
Total assets less current liabilities			502,296		211,816
Creditors amounts falling due after one year	6		(613,047)		(263,119)
Net assets			(110,751)		(51,303)
Capital and reserves
Called up share capital			2		2
Profit and loss account			(110,753)		(51,305)
Shareholders' funds			(110,751)		(51,303)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 18 May 2026, and are signed on its behalf by:

SELVANATHAR, Rachel Dianka
Director

SELVANATHAR, Zita Irene
Director

Registered Company No. 14532801

RIGS PROPERTIES LTD

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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 rental services.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. Investment properties, which comprises properties held for rental, are revalue annually and aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the profit and loss account. No provision is made for depreciation of investment properties. This is a departure from the requirement of the Regulations, which require all properties to be depreciated, is in the opinion of the Director, necessary for financial statement to show a true and fair view in accordance with applicable accounting standards. If this departure had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Investment property

The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

Investment properties, which comprises properties held for rental, are revalue annually and aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the profit and loss account. No provision is made for depreciation of investment properties. This is a departure from the requirement of the Regulations, which require all properties to be depreciated, is in the opinion of the Director, necessary for financial statement to show a true and fair view in accordance with applicable accounting standards. If this departure had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	1,181	1,181
At 31 December 25	1,181	1,181
Depreciation and impairment
At 01 January 25	394	394
Charge for year	393	393
At 31 December 25	787	787
Net book value
At 31 December 25	394	394
At 31 December 24	787	787

4.	Investment property
	The bank has a legal charge over the investment property of the company.


		£
	Fair value at 01 January 25	466,481
	Additions	490,500
	At 31 December 25	956,981

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	7,750	7,000
Other creditors	451,081	261,816
Accrued liabilities and deferred income	800	800
Total	459,631	269,616


	Included in other creditors is amount owe to the directors.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	613,047	263,119
Total	613,047	263,119

7.	Controlling party
	During the current period, the company was control by the directors, Zita Selvanathar and Rachel Selvanathar by virtue of ownership of the entire share capital.