Company No: 12339142 (England and Wales)

Contents

• Company information
• Accountant's Report
• Balance Sheet

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ryff Europe Ltd for the financial period ended 31 May 2020 which comprises the Balance Sheet and the related notes from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_

It is your duty to ensure that Ryff Europe Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ryff Europe Ltd. You consider that Ryff Europe Ltd is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Ryff Europe Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the director of Ryff Europe Ltd, as a body, in accordance with the terms of our engagement letter dated 15 April 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Ryff Europe Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ryff Europe Ltd and its director as a body for our work or for this report.

Deloitte LLP
Accountant

1 New Street Square
London
EC4A 3HQ
United Kingdom

09 April 2021

Notes to the financial statements

1. Company information

The Company is a private company limited by shares and is incorporated in the United Kingdom and registered in England and Wales (Company no. 12339142). The address of its registered office is 125 Wood Street, London, EC2V 7AW, United Kingdom.

2. Employees

3. Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £461,871. The Company is supported through loans from the Parent Company, Ryff Inc. Subsequent to the period end, further funding has been drawn down from Ryff Inc to support the working capital requirements of the Company going forward. The director has confirmed that Ryff Inc has sufficient funds to support the Company, she has also confirmed that the loan facilities will continue to be available and that they will not request repayment of the loan within 12 months from the date of signing these financial statements. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

The rapid spreading of Covid-19 has continued to be a significant emerging risk to the global economy. The director continues to monitor the impact of the virus on the business as more information about the pandemic emerges. The Company is reliant on debt funding from their Parent Company, at the time of signing the director does not consider Covid-19 to impact the Company’s ability to continue as a going concern and considers the Balance Sheet to be appropriately valued.

For the financial period ending 31 May 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements;
• These financial statements have been prepared and delivered in accordance with the provisions of the small companies regime applicable to micro-entities and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Ryff Europe Ltd (registered number: 12339142) were approved and authorised for issue by the director on 07 April 2021 and were signed on its behalf by: