Company registration number 03442503 (England and Wales)
RIO AI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RIO AI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
RIO AI LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
9,650,290
8,211,324
Creditors: amounts falling due within one year
4
(9,934)
(10,198)
Net current assets
9,640,356
8,201,126
Capital and reserves
Called up share capital
5
5,130,973
4,478,245
Share premium account
10,919,448
10,131,926
Capital redemption reserve
562,500
562,500
Profit and loss reserves
(6,972,565)
(6,971,545)
Total equity
9,640,356
8,201,126
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 July 2025 and are signed on its behalf by:
Mr T J Sykes
Director
Company registration number 03442503 (England and Wales)
RIO AI LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 31 March 2023
4,128,595
9,981,576
562,500
(6,969,046)
7,703,625
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
-
(2,499)
(2,499)
Issue of shares
349,650
150,350
-
-
500,000
Balance at 31 March 2024
4,478,245
10,131,926
562,500
(6,971,545)
8,201,126
Year ended 31 March 2025:
Loss and total comprehensive income
-
-
-
(1,020)
(1,020)
Issue of shares
652,728
787,522
-
-
1,440,250
Balance at 31 March 2025
5,130,973
10,919,448
562,500
(6,972,565)
9,640,356
RIO AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
RIO AI LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 4 Wharfe Mews, Cliffe Terrace, Wetherby, West Yorkshire, United Kingdom, LS22 6LX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has negative retained earnings of £6,971,true389 but has net assets of £9,641,532 as at 31 March 2025. This includes a balance of £9,648,195 owed by a group undertaking, which the directors believe is recoverable.
Therefore the directors believe that it is appropriate for these accounts to be prepared on a going concern basis.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% on cost
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 are not amortised.
RIO AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
3
3
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
9,646,995
8,208,029
Other debtors
3,295
3,295
9,650,290
8,211,324
4
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
8,674
8,698
Accruals and deferred income
1,260
1,500
9,934
10,198
5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 0.01p each
51,248,649,695
44,721,371,161
5,124,865
4,472,137
Ordinary B of 0.001p each
610,775,486
610,775,486
6,108
6,108
51,859,425,181
45,332,146,647
5,130,973
4,478,245
RIO AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Called up share capital
(Continued)
- 5 -
Between 12 July and 19 July 2024, the company issued 3,154,792,373 ordinary shares for a consideration of £695,928 and between 3 September and 6 September 2024, the company issued a further 2,505,860,049 ordinary shares for a consideration of £552,778. A further issue of 866,626,112 ordinary shares on 3 February 2025 for consideration of £191,173.
6
Parent company
The company has no individual controlling party but is controlled by its shareholders.