RINICOM LIMITED

Company Registration Number:
04534336 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

RINICOM LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

RINICOM LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The company's principal activity during the year continued to be providing state-of-the-art secure communication systems.

Additional information

Rinicom is a Lancaster based SME specialising in providing state-of-the art secure communications and AI-driven video analytics systems for law enforcement agencies, first responders, and critical civilian infrastructure facilities. Incorporated in 2002, Rinicom gained initial recognition as a leading-edge technology company providing bespoke telecommunications solutions. Today Rinicom's portfolio of new and innovative products includes, a self-healing COFDM IP ad-hoc mesh radio, a software defined radio (SDR) for leaky feeder applications, radio communication systems, Video Fusion solutions and innovative video analytics software for underground trains and innovative AI algorithms enhancing performance of the products. In addition to a robust product base, we place a strong focus on R&D to maintain our competitive advantage and ensure continuous innovation. To support our ongoing R&D programme, we were successful in winning 2 large projects from EU and InnovateUK, and we expect that the outcomes of these projects will support our roadmap for new products and services. The year 2024 was a challenging year but we successfully overcame the challenges by completing a process of transforming Rinicom from being a project based Company to product based company and recovering losses from 2023. We are pleased to announce that company is growing steadily focusing on increased profitability from production activities while maintaining a strong engineering Team and having a strong customer base. We expect 2025 to be a challenging but successful year with the delivery of radios and antennae for DTUP project with TFL and introduction of a number of new products, leading to more growth and winning of new contracts.



Directors

The director shown below has held office during the whole of the period from
1 January 2024 to 31 December 2024

Professor G. Markarian


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
11 July 2025

And signed on behalf of the board by:
Name: Professor G. Markarian
Status: Director

RINICOM LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 2,114,177 2,254,087
Cost of sales: ( 959,727 ) ( 1,234,642 )
Gross profit(or loss): 1,154,450 1,019,445
Administrative expenses: ( 1,162,505 ) ( 1,134,586 )
Operating profit(or loss): (8,055) (115,141)
Interest receivable and similar income: 10,506 0
Profit(or loss) before tax: 2,451 (115,141)
Profit(or loss) for the financial year: 2,451 (115,141)

RINICOM LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 270,000 360,000
Tangible assets: 4 43,772 22,518
Total fixed assets: 313,772 382,518
Current assets
Stocks: 5 30,200 32,000
Debtors: 6 877,974 1,152,457
Cash at bank and in hand: 29,395 87,673
Total current assets: 937,569 1,272,130
Creditors: amounts falling due within one year: 7 ( 232,072 ) ( 637,830 )
Net current assets (liabilities): 705,497 634,300
Total assets less current liabilities: 1,019,269 1,016,818
Total net assets (liabilities): 1,019,269 1,016,818
Capital and reserves
Called up share capital: 1,721 1,721
Profit and loss account: 1,017,548 1,015,097
Total Shareholders' funds: 1,019,269 1,016,818

The notes form part of these financial statements

RINICOM LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 11 July 2025
and signed on behalf of the board by:

Name: Professor G. Markarian
Status: Director

The notes form part of these financial statements

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and machinery - 25% on reducing balance

    Intangible fixed assets amortisation policy

    Project development Intangible assets are being written off in equal annual instalments over its estimated economic life of 5 years.

    Other accounting policies

    Research and Development Expenditure Credits (RDEC) Rinicom Limited has a policy of recognising all RDEC claims in the accounting period in which the claims are received. During this year, £85,337 has been received relating to the RDEC claim for accounting period ended 31 December 2021, and has been credited to staff costs.

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 21 26

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2024 450,000 450,000
Additions
Disposals
Revaluations
Transfers
At 31 December 2024 450,000 450,000
Amortisation
At 1 January 2024 90,000 90,000
Charge for year 90,000 90,000
On disposals
Other adjustments
At 31 December 2024 180,000 180,000
Net book value
At 31 December 2024 270,000 270,000
At 31 December 2023 360,000 360,000

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 185,827 185,827
Additions 35,845 35,845
Disposals
Revaluations
Transfers
At 31 December 2024 221,672 221,672
Depreciation
At 1 January 2024 163,309 163,309
Charge for year 14,591 14,591
On disposals
Other adjustments
At 31 December 2024 177,900 177,900
Net book value
At 31 December 2024 43,772 43,772
At 31 December 2023 22,518 22,518

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Stocks

2024 2023
£ £
Stocks 30,200 32,000
Total 30,200 32,000

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Debtors

2024 2023
£ £
Trade debtors 166,783 710,392
Other debtors 711,191 442,065
Total 877,974 1,152,457

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

RINICOM LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 92,643 121,343
Taxation and social security 41,755 116,618
Other creditors 97,674 399,869
Total 232,072 637,830

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.