| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| Rhetorik Global Limited |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| Rhetorik Global Limited |
| Rhetorik Global Limited (Registered number: 10718935) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Rhetorik Global Limited |
| Company Information |
| for the Year Ended 30 June 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 8-10 South Street |
| Epsom |
| Surrey |
| KT18 7PF |
| Rhetorik Global Limited (Registered number: 10718935) |
| Balance Sheet |
| 30 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| Rhetorik Global Limited (Registered number: 10718935) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Rhetorik Global Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Rhetorik Global Limited 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. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| 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. |
| Rhetorik Global Limited (Registered number: 10718935) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 |
| 'Other Financial Instruments Issue' of FRS 102 to all of its financial instruments. Financial instruments are |
| recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial |
| statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year not amortised. |
| Clarification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual |
| arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference |
| shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at an amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
| business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Going concern |
| The financial statements have been prepared on the going concern basis and the directors confirm their belief in 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 and Group are heavily reliant on the support of its shareholders and other parties to provide funding to continue given the cumulative loss position reported and the directors confirm this support will their belief that this will continue going forward |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Rhetorik Global Limited (Registered number: 10718935) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 July 2023 |
| Additions |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| In 2022, the Company signed a Convertible Loan Note to provide up to £1,500,000. The loan note carried interest at 15% per annum and had a maturity date of 4 December 2025. |
| In 2023, the Company signed a Convertible Loan Note to provide up to CAD $2,000,000. The loan |
| note carried interest at 15% per annum and had a maturity date of 25 July 2028. |
| Further Convertible loans notes were issued the the financial year 2024 which also carry an interest rate of 15% and have maturity dates between 1 and 2 years and over 5 years. |
| The company acquired the entire share capital of One Stop Data Limited in the year and there is a loan note in place with the former shareholder of this company for £450,000. The loan is interest free and repayable in 14 quarterly instalments after the year end. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 899,998 | 881,998 |
| Rhetorik Global Limited (Registered number: 10718935) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 8. | CALLED UP SHARE CAPITAL - continued |
| Each Ordinary share has full rights in the company with respect to voting. |
| During the year, the company issued: |
| 18,000 bonus shares at a premium of £14.44 each for total cash consideration of £260,000 |
| 9. | ULTIMATE CONTROLLING PARTY |