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Rheo Ltd
Unaudited Filleted Financial Statements
for the Period from 13 August 2024 to 31 December 2025

Rheo Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Rheo Ltd

Company Information

Director | M King

Registered Office | Kings Court Parsonage Lane Bath BA1 1ER

Registered Number | 15894870

Accountants | Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Rheo Ltd

(Registration number: 15894870)
Balance Sheet as at 31 December 2025

| Note | 2025 £
Fixed assets |  |
Tangible assets | 4 | 9,598
Current assets |  |
Debtors | 5 | 89,055
Cash at bank and in hand |  | 87,115
|  | 176,170
Creditors: Amounts falling due within one year | 6 | (277,417)
Net current liabilities |  | (101,247)
Net liabilities |  | (91,649)
Capital and reserves |  |
Called up share capital |  | 5,000
Retained earnings |  | (96,649)
Shareholders' deficit |  | (91,649)

For the financial period ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 May 2026

......................................... M King Director

Rheo Ltd

Notes to the Unaudited Financial Statements for the Period from 13 August 2024 to 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kings Court
Parsonage Lane
Bath
BA1 1ER

These financial statements were authorised for issue by the director on 13 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis following confirmation that the director will continue to financially support the company in order to maintain its operations as necessary for the foreseeable future and at least 12 months from the date of signing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Rheo Ltd

Notes to the Unaudited Financial Statements for the Period from 13 August 2024 to 31 December 2025

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class | Depreciation method and rate
Fixtures and fittings | 25% on cost
Office equipment | 25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Rheo Ltd

Notes to the Unaudited Financial Statements for the Period from 13 August 2024 to 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Total £
Cost or valuation
Additions | 1,000 | 10,079 | 11,079
At 31 December 2025 | 1,000 | 10,079 | 11,079
Depreciation
Charge for the period | 146 | 1,335 | 1,481
At 31 December 2025 | 146 | 1,335 | 1,481
Carrying amount
At 31 December 2025 | 854 | 8,744 | 9,598

Rheo Ltd

Notes to the Unaudited Financial Statements for the Period from 13 August 2024 to 31 December 2025

5 | Debtors

| 2025 £
Trade debtors | 57,962
Prepayments and accrued income | 2,811
Other debtors | 28,282
| 89,055

6 | Creditors

Due within one year | Note | 2025 £
Trade creditors |  | 12,697
Amounts owed to related parties | 8 | 238,648
Taxation and social security |  | 3,337
Accruals and deferred income |  | 21,968
Other creditors |  | 767
|  | 277,417

7 | Other financial commitments

Off balance sheet commitments

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £185,760.

Pension commitments

Included in the balance sheet are pensions of £767. The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Rheo Ltd

Notes to the Unaudited Financial Statements for the Period from 13 August 2024 to 31 December 2025

8 | Related party transactions

Loans from related parties

2025 | Key management £ | Total £
Advanced | 243,648 | 243,648
Repaid | (5,000) | (5,000)
At end of period | 238,648 | 238,648

Terms of loans from related parties

The loans from key management are interest free and repayable on demand subject to maintaining the capital adequacy requirements in line with the FCA requirements.