IRIS Accounts Production v25.1.3.33 08599568 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085995682023-12-31085995682024-12-31085995682024-01-012024-12-31085995682022-07-31085995682022-08-012023-12-31085995682023-12-3108599568ns15:EnglandWales2024-01-012024-12-3108599568ns14:PoundSterling2024-01-012024-12-3108599568ns10:Director12024-01-012024-12-3108599568ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3108599568ns10:SmallEntities2024-01-012024-12-3108599568ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3108599568ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3108599568ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3108599568ns10:FullAccounts2024-01-012024-12-310859956812024-01-012024-12-3108599568ns10:Director22024-01-012024-12-3108599568ns10:Director32024-01-012024-12-3108599568ns10:CompanySecretary12024-01-012024-12-3108599568ns10:RegisteredOffice2024-01-012024-12-3108599568ns5:CurrentFinancialInstruments2024-12-3108599568ns5:CurrentFinancialInstruments2023-12-3108599568ns5:ShareCapital2024-12-3108599568ns5:ShareCapital2023-12-3108599568ns5:SharePremium2024-12-3108599568ns5:SharePremium2023-12-3108599568ns5:RetainedEarningsAccumulatedLosses2024-12-3108599568ns5:RetainedEarningsAccumulatedLosses2023-12-3108599568ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-012024-12-3108599568ns5:IntangibleAssetsOtherThanGoodwill2023-12-3108599568ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3108599568ns5:IntangibleAssetsOtherThanGoodwill2024-12-3108599568ns5:IntangibleAssetsOtherThanGoodwill2023-12-3108599568ns5:PlantMachinery2023-12-3108599568ns5:PlantMachinery2024-01-012024-12-3108599568ns5:PlantMachinery2024-12-3108599568ns5:PlantMachinery2023-12-3108599568ns5:CostValuation2023-12-3108599568ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3108599568ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 08599568 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RAINBIRD TECHNOLOGIES LTD

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAINBIRD TECHNOLOGIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: B P Taylor
J A Duez
W W Churchill





SECRETARY:





REGISTERED OFFICE: Saxon House
Hellesdon Park Road
Drayton High Road
Norwich
Norfolk
NR6 5DR





REGISTERED NUMBER: 08599568 (England and Wales)





ACCOUNTANTS: Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 323,079 311,268
Tangible assets 5 26,405 21,343
Investments 6 90 90
349,574 332,701

CURRENT ASSETS
Debtors 7 437,974 338,470
Cash at bank 521,972 247,218
959,946 585,688
CREDITORS
Amounts falling due within one year 8 1,462,645 299,954
NET CURRENT (LIABILITIES)/ASSETS (502,699 ) 285,734
TOTAL ASSETS LESS CURRENT LIABILITIES (153,125 ) 618,435

CAPITAL AND RESERVES
Called up share capital 540,753 540,735
Share premium 15,829,523 15,829,523
Retained earnings (16,523,401 ) (15,751,823 )
SHAREHOLDERS' FUNDS (153,125 ) 618,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

BALANCE SHEET - continued
31 DECEMBER 2024


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 21 May 2025 and were signed on its behalf by:





J A Duez - Director


RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Rainbird Technologies Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Rainbird Technologies Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Where licence and monthly recurring revenue are separately identifiable, revenue on licence and services is recognised separately at the quoted rate from the contract. Monthly recurring income is recognised on a straight-line basis over the term of the contract. Services are recognised to the extent that they are delivered in the period.

Where contracts are such that that licence and monthly recurring revenue are combined so that they are not separately identifiable, a value is imputed to service days on the basis of salary plus overhead and deduct this from the total contract value, with the remainder of the contract value recognised on a straight line basis over the contract term.The carved out service revenue is then recognised on a monthly basis to the extent that it is delivered.

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

Amortisation is provided on development expenditure on a 20% straight line basis.

Development costs are capitalised when certain criteria are met. The product must be technically feasible, sale is intended, a market exists, expenditure can be measured reliably, and sufficient resources are available to complete the project.

The extent of capitalisation is limited to the amount, which when added to further related costs, will be recovered from the future economic benefits related to the asset. When the board is confident that all criteria for capitalisation are met, development costs are capitalised over the expected useful life, currently assessed as five years, from the date the asset is available for use.

Development costs that have been capitalised, but where amortisation has not yet commenced are reviewed annually for impairment. If no intangible asset can be recognised based on the above, then development costs are recognised in administrative expenses in the period in which incurred.

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings - 20% on reducing balance
Computer Equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The company is reliant on the continued financial support of its shareholders to meet its liabilities as they fall due. The directors have received assurances from shareholders that sufficient financial support will be provided for at least the next twelve months. The directors are confident that this support will enable the company to meet its obligations as they fall due, and accordingly have prepared the financial statements on a going concern basis. However, there remains a material uncertainty related to the ability of the company to continue as a going concern, which may cast significant doubt on the company's ability to continue as a going concern. The financial statements do not include any adjustments that would be required if the company were unable to continue as a going concern

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 26 ) .

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 2,613,512
Additions 148,802
At 31 December 2024 2,762,314
AMORTISATION
At 1 January 2024 2,302,244
Charge for year 136,991
At 31 December 2024 2,439,235
NET BOOK VALUE
At 31 December 2024 323,079
At 31 December 2023 311,268

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 106,309
Additions 23,503
Disposals (33,974 )
At 31 December 2024 95,838
DEPRECIATION
At 1 January 2024 84,966
Charge for year 10,929
Eliminated on disposal (26,462 )
At 31 December 2024 69,433
NET BOOK VALUE
At 31 December 2024 26,405
At 31 December 2023 21,343

RAINBIRD TECHNOLOGIES LTD (REGISTERED NUMBER: 08599568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 90
NET BOOK VALUE
At 31 December 2024 90
At 31 December 2023 90

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 278,998 77,536
Other debtors 158,976 260,934
437,974 338,470

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,732 55,360
Taxation and social security 44,648 58,754
Other creditors 1,400,265 185,840
1,462,645 299,954

9. RELATED PARTY DISCLOSURES

At the year end the company owed RBDI Holdings Limited £739,000, a company in which Mr J Duez, W Churchill and B Taylor are directors.

10. ULTIMATE CONTROLLING PARTY

The company is controlled on an operational basis by the directors.

At 31 December 2024, the ultimate controlling party was RBDI Holdings Ltd.