REGISTERED NUMBER: 08255937 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

RATIONAL IP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

G F Chandrahasen

Registered office:

81 Rivington Street

London

EC2A 3AY

Registered number:

08255937 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

64

730

Investments

5

-

-

64

730

Current assets

Debtors

6

211,399

172,697

Cash at bank

277,751

317,767

489,150

490,464

Creditors

Amounts falling due within one year

7

143,918

93,081

Net current assets

345,232

397,383

Total assets less current liabilities

345,296

398,113

Creditors

Amounts falling due after more than one year

8

15,544

25,190

Net assets

329,752

372,923

Capital and reserves

Called up share capital

9

1

1

Retained earnings

329,751

372,922

Shareholders' funds

329,752

372,923

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

G F Chandrahasen - Director

1.	Statutory information

Rational IP 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The director has a reasonable expectation that the company will continue to trade profitably and have adequate resources to continue in operational existence for the foreseeable future. On this basis, the director is therefore of the opinion that he should continue to adopt the going concern basis in preparing the annual financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Revenue from rendering of services

Revenue from the rendering of services is recognised by reference to the stage of completion of the transaction providing that; the amount of revenue associated with the transaction can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company, the stage of completion of the transaction can be measured reliably and the costs incurred or to be incurred in respect of completing the transaction can be measured reliably.

Tangible fixed assets

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

Computer equipment

-

Straight line over 3 years

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.

Operating leases

Rentals payable under operating leases are charged to the income statement account 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.

3.	Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 November 2023

and 31 October 2024

16,649

Depreciation

At 1 November 2023

15,919

Charge for year

666

At 31 October 2024

16,585

Net book value

At 31 October 2024

64

At 31 October 2023

730

5.	Fixed asset investments

Unlisted

investments

£

Cost

At 1 November 2023

and 31 October 2024

42,500

Provisions

At 1 November 2023

and 31 October 2024

42,500

Net book value

At 31 October 2024

-

At 31 October 2023

-

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

205,154

166,779

Other debtors

6,245

5,918

211,399

172,697

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

9,409

9,656

Trade creditors

9,692

2,975

Taxation and social security

54,717

80,450

Other creditors

70,100

-

143,918

93,081

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

15,544

25,190

The company's bank borrowings relate to a bank loan obtained under the Bounce Back Loan scheme.

The loan is guaranteed by the UK government under the Coronavirus Business Support scheme.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

10.	Related party transactions

During the year, the company made advances to the director totalling £207,703 (2023: £173,758) and received repayments from the director totalling £207,703 (2023: £173,758). At the statement of financial position date, the director owed the company £Nil (2023: £Nil).

11.	Operating lease commitments

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year: £7,473 (2023: £7,473)

Between two to five years: £22,419 (2023: £22,419)