REGISTERED NUMBER: 07711815 (England and Wales)

RIGGING PROJECTS MACHINING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N A Black

T Hochreutener

C C Whitwam

REGISTERED OFFICE:

Riverside House

Brunel Road

Totton

Southampton

Hampshire

SO40 3WX

REGISTERED NUMBER:

07711815 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

129,152

CURRENT ASSETS

Cash at bank

606

438

CREDITORS

Amounts falling due within one year

5

(50,901

)

(154,806

)

NET CURRENT LIABILITIES

(50,295

)

(154,368

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,295

)

(25,216

)

CREDITORS

Amounts falling due after more than one year

6

-

(8,752

)

PROVISIONS FOR LIABILITIES

-

(32,028

)

NET LIABILITIES

(50,295

)

(65,996

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(50,305

)

(66,006

)

(50,295

)

(65,996

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2026 and were signed on its behalf by:

N A Black - Director

1.	STATUTORY INFORMATION

Rigging Projects Machining Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going Concern

At the balance sheet date, the company has net liabilities of £50,295 (FY25: £65,996). Following the transition of its activities (see note 9), the company is dependent on support from its parent company Rigging Projects Holdings Ltd in the form of (1) relief from those group undertakings to whom it is liable in the form of amounts owed to group undertakings and (2) enabling it to settle 3rd party creditors as well as certain ongoing administrative expenses. The directors have indicated that this support will continue for a period of at least 12 months from the date of signing these financial statements and, as such, the going concern basis has been used.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

Over 3, 5 or 10 years Straight line

Computer equipment

-

25% Reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 March 2025

288,934

4,731

293,665

Disposals

(288,934

)

(4,731

)

(293,665

)

At 28 February 2026

-

-

-

DEPRECIATION

At 1 March 2025

161,145

3,368

164,513

Charge for year

14,395

416

14,811

Eliminated on disposal

(175,540

)

(3,784

)

(179,324

)

At 28 February 2026

-

-

-

NET BOOK VALUE

At 28 February 2026

-

-

-

At 28 February 2025

127,789

1,363

129,152

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

8,902

10,291

Amounts owed to group undertakings

41,739

144,257

Taxation and social security

260

258

50,901

154,806

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

8,752

7.	ULTIMATE CONTROLLING PARTY

Parent company:

Rigging Projects Holdings Ltd

Riverside House Brunel Road

Totton

Southampton

S040 3WX

England

United Kingdom

8.	TRANSITION OF TRADE AND ACTIVITIES

Following the purchase of 100% of the share capital by the company Rigging Projects Holdings Ltd on 2 August 2022, the directors began a phased transition to transfer the activities of the Company into a wholly owned subsidiary named Rigging Projects Ltd. All employees were transferred under TUPE to Rigging Projects Ltd.

To continue as going concern, and to enable it to meet its ongoing obligations and liabilities, Rigging Project Holdings Ltd has provided a letter of comfort confirming its willingness to provide continued financial support to the company.