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Rhizome Research Limited

Financial Statements for the Year Ended 5 April 2024






Rhizome Research Limited (Registered number: 07134476)






Contents of the Financial Statements
for the year ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rhizome Research Limited

Company Information
for the year ended 5 April 2024







DIRECTORS: Dr M Guida
Mrs S Guida





SECRETARY: Mrs S Guida





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 07134476 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Rhizome Research Limited (Registered number: 07134476)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,368 26,428
23,368 26,428

CURRENT ASSETS
Stocks 36,000 30,000
Debtors 6 4,096 1,112
Cash at bank 6,138 7,409
46,234 38,521
CREDITORS
Amounts falling due within one year 7 58,405 54,028
NET CURRENT LIABILITIES (12,171 ) (15,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,197

10,921

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,097 10,821
SHAREHOLDERS' FUNDS 11,197 10,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:




Dr M Guida - Director


Rhizome Research Limited (Registered number: 07134476)

Notes to the Financial Statements
for the year ended 5 April 2024

1. STATUTORY INFORMATION

Rhizome Research 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 50% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Rhizome Research Limited (Registered number: 07134476)

Notes to the Financial Statements - continued
for the year ended 5 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 6 April 2023
and 5 April 2024 10,000
AMORTISATION
At 6 April 2023
and 5 April 2024 10,000
NET BOOK VALUE
At 5 April 2024 -
At 5 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 6 April 2023 17,500 6,106 32,745 2,872 59,223
Additions - 2,269 - - 2,269
At 5 April 2024 17,500 8,375 32,745 2,872 61,492
DEPRECIATION
At 6 April 2023 4,375 3,359 22,926 2,135 32,795
Charge for year 875 1,266 2,455 733 5,329
At 5 April 2024 5,250 4,625 25,381 2,868 38,124
NET BOOK VALUE
At 5 April 2024 12,250 3,750 7,364 4 23,368
At 5 April 2023 13,125 2,747 9,819 737 26,428

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 4,096 1,112

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,134 -
Corporation tax 8,523 5,532
PAYE 418 513
MBNA credit card 1,458 7,913
Nationwide credit card 5,448 11,453
Directors' current accounts 40,474 27,667
Accrued expenses 950 950
58,405 54,028