Rhizome Insights Limited 13388501 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of a not-for-profit company formed to provide high-end technical and expert support to environmental NGO’s and community-based conservation groups. The entity seeks to counter the illegal trafficking of wildlife and natural resources through the delivery of a secure information ecosystem, investigative support, informed analysis and prosecutorial expertise. Digita Accounts Production Advanced 6.30.9574.0 true true 13388501 2022-06-01 2023-05-31 13388501 2023-05-31 13388501 core:CurrentFinancialInstruments 2023-05-31 13388501 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13388501 core:OfficeEquipment 2023-05-31 13388501 bus:SmallEntities 2022-06-01 2023-05-31 13388501 bus:Audited 2022-06-01 2023-05-31 13388501 bus:FullAccounts 2022-06-01 2023-05-31 13388501 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 13388501 bus:RegisteredOffice 2022-06-01 2023-05-31 13388501 bus:Director1 2022-06-01 2023-05-31 13388501 bus:CompanyLimitedByGuarantee 2022-06-01 2023-05-31 13388501 core:OfficeEquipment 2022-06-01 2023-05-31 13388501 countries:EnglandWales 2022-06-01 2023-05-31 13388501 2022-05-31 13388501 core:OfficeEquipment 2022-05-31 13388501 2021-05-11 2022-05-31 13388501 2022-05-31 13388501 core:CurrentFinancialInstruments 2022-05-31 13388501 core:CurrentFinancialInstruments core:WithinOneYear core:RestatedAmount 2022-05-31 13388501 core:OfficeEquipment 2022-05-31 13388501 core:RestatedAmount 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 13388501

Rhizome Insights Limited

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 31 May 2023

 

Rhizome Insights Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Rhizome Insights Limited

(Registration number: 13388501)
Balance Sheet as at 31 May 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

7,888

3,887

Current assets

 

Debtors

5

91,171

333,056

Cash at bank and in hand

 

306,812

376,285

 

397,983

709,341

Creditors: Amounts falling due within one year

6

(407,583)

(715,270)

Net current liabilities

 

(9,600)

(5,929)

Net liabilities

 

(1,712)

(2,042)

Reserves

 

Retained earnings

(1,712)

(2,042)

Deficit

 

(1,712)

(2,042)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 February 2024
 

.........................................
D Liddle
Director

 

Rhizome Insights Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 19 February 2024 was Emily Ness FCA BFP, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Rhizome Insights Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Other debtors

Other debtors relates to VAT reclaimable from HMRC and accrued income in relation to future financial reporting periods.

Oher creditors

Other creditors relates to accruals and deferred grant income received in the current financial period.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Rhizome Insights Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

4,151

4,151

Additions

5,968

5,968

At 31 May 2023

10,119

10,119

Depreciation

At 1 June 2022

264

264

Charge for the year

1,967

1,967

At 31 May 2023

2,231

2,231

Carrying amount

At 31 May 2023

7,888

7,888

At 31 May 2022

3,887

3,887

5

Debtors

Current

2023
£

2022
£

Trade debtors

40,152

-

Prepayments

2,795

160,233

Other debtors

48,224

172,823

 

91,171

333,056

 

Rhizome Insights Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Due within one year

Trade creditors

147,684

115,000

Taxation and social security

14,624

1,758

Other creditors

245,275

598,512

407,583

715,270

7

Related party transactions

Summary of transactions with other related parties

During the year, the company traded with Prevail Insight Limited, a company of which D Liddle is a Director and owns a 30% shareholding.

The total amount paid to Prevail Insights Limited during the year was £453,395 (2022 - £205,000) in respect of data and investigation services incurred within the ordinary course of the company' activities. These services were provided at an arms' length basis.