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Financial Statements

for the Year Ended 30 June 2024

for

Rhetorik Limited

Rhetorik Limited (Registered number: 02958622)

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 Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs M Amdur
T D Baskerville
A Walia





REGISTERED OFFICE: Indigo House
Fishponds Road
Wokingham
Berkshire
RG41 2GY





REGISTERED NUMBER: 02958622 (England and Wales)





AUDITORS: Williams & Co Epsom LLP
Statutory Auditors
8-10 South Street
Epsom
Surrey
KT18 7PF

Rhetorik Limited (Registered number: 02958622)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,569 7,487

CURRENT ASSETS
Debtors 5 1,230,080 989,524
Cash at bank 109,576 102,106
1,339,656 1,091,630
CREDITORS
Amounts falling due within one year 6 11,006,373 8,664,709
NET CURRENT LIABILITIES (9,666,717 ) (7,573,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,658,148

)

(7,565,592

)

PROVISIONS FOR LIABILITIES 1,279 1,279
NET LIABILITIES (9,659,427 ) (7,566,871 )

CAPITAL AND RESERVES
Called up share capital 7 9,000 9,000
Retained earnings (9,668,427 ) (7,575,871 )
SHAREHOLDERS' FUNDS (9,659,427 ) (7,566,871 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





Mrs M Amdur - Director


Rhetorik Limited (Registered number: 02958622)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Rhetorik 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 represents the total value of work done, excluding value added tax, of sales made during the year and derives from the provision of services falling within the Company's ordinary activities.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date, turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments have been received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

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

Fixtures, fittings and equipment 20% - 30% on cost

Rhetorik Limited (Registered number: 02958622)

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.

As the debts due within the group are disclosed as owing within 1 year and are eliminated on consolidation, no discounting of these balances has taken place within these financial statements.

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.

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 Limited (Registered number: 02958622)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 reviewed the Company's going concern position taking account of its current business
activities, budgeted performance and the factors likely to affect its future development. These factors include the Company's objectives, policies and processes for managing its capital, its financial risk management objectives and its exposure to credit and liquidity risks.

As at 30 June 2024, the Company had cash and cash equivalents of £109,576 (2023: £102,106), net current liabilities of £10,030,829 after excluding debtors outside one year(2023: £7,573,079) and had net liabilities of £9,659,577 (2023: £7,566,871).

The Directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of the financial statements which demonstrate that the Company relies on funding for its operations from its parent company, Rhetorik Global Limited. This funding is expected to achieved from external investors, although inherently there can be no certainty with these matters. In the event the external funding is not achieved by the parent company, the major shareholders of the parent company have also confirmed that they will continue supporting the company by providing adequate funds required to meet its cash flow requirements for a period of at least twelve months from the date of approval of these financial statements. On this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

The accounts do not include any adjustments that would result in the company being unable to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2023 70,538
Additions 1,883
At 30 June 2024 72,421
DEPRECIATION
At 1 July 2023 63,051
Charge for year 801
At 30 June 2024 63,852
NET BOOK VALUE
At 30 June 2024 8,569
At 30 June 2023 7,487

Rhetorik Limited (Registered number: 02958622)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 536,988 660,040
Amounts owed by group undertakings 40,984 39,490
Other debtors 287,995 289,994
865,967 989,524

Amounts falling due after more than one year:
Other debtors 364,113 -

Aggregate amounts 1,230,080 989,524

The company has made a claim for an R&D tax credit after the year end which it has provided for in the accounts. This is based on the R&D work that has continued on from previous years for which R&D credits have been paid out and accounted for as received, The provision this year represents a change in accounting policy.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 139,744 74,842
Amounts owed to group undertakings 9,865,698 7,335,555
Taxation and social security 14,269 11,947
Other creditors 986,662 1,242,365
11,006,373 8,664,709

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
900,000 Ordinary 1p 9,000 9,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Smith BSc FCA (Senior Statutory Auditor)
for and on behalf of Williams & Co Epsom LLP

9. RELATED PARTY DISCLOSURES

Amounts owed to group undertakings include £7,568,081 (2023: £6,681,585) owed to the parent company,
Rhetorik Global Limited, a company registered in England and Wales, and £2,297,617 (2023: £653,970) owed to Rhetorik Solutions Canada Ltee, a company based in Quebec, Canada. Rhetorik Solutions Canada Ltee is a wholly owned subsidiary of Rhetorik Global Limited.

Amounts owed by group undertakings include £40,984 (2023: £39,490) owed by Datarista Inc, a company based in the state of Delaware, USA, and which is wholly owned subsidiary of Rhetorik Global Limited.

10. ULTIMATE CONTROLLING PARTY

The company is a 100% owned subsidiary of Rhetorik Global Limited, a company registered in England and
Wales. The ultimate controlling party is the director, T Baskerville by virtue of his shareholding in the parent
company, Rhetorik Global Limited.