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REGISTERED NUMBER: 02615557 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

RETURNGAIN LIMITED

RETURNGAIN LIMITED (REGISTERED NUMBER: 02615557)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RETURNGAIN LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: P J Marmot
C V Tuempling-Marmot
M C H Britter





SECRETARY: C V Tuempling-Marmot





REGISTERED OFFICE: Ferrari House
258 Field End Road
Eastcote
Middlesex
HA4 9UU





REGISTERED NUMBER: 02615557 (England and Wales)





ACCOUNTANTS: Diverset Limited
Chartered Accountants
Ferrari House
258 Field End Road
Ruislip
Middlesex
HA4 9UU

RETURNGAIN LIMITED (REGISTERED NUMBER: 02615557)

Balance Sheet
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 96 96

CURRENT ASSETS
Debtors 5 528,971 744,411
Cash at bank and in hand 306 405
529,277 744,816
CREDITORS
Amounts falling due within one year 6 85,420 301,557
NET CURRENT ASSETS 443,857 443,259
TOTAL ASSETS LESS CURRENT LIABILITIES 443,953 443,355

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 443,753 443,155
SHAREHOLDERS' FUNDS 443,953 443,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by:



P J Marmot - Director


RETURNGAIN LIMITED (REGISTERED NUMBER: 02615557)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Returngain 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.

In the light of the COVID-19 pandemic, the directors have concluded that the company is and remains a going concern based on investments and income/cash flow projections of its subsidiary.

Preparation of consolidated financial statements
The financial statements contain information about Returngain Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents management charges and other amounts receivable for goods and services.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investments
Fixed asset investments are stated at cost unless, in the opinion of the Directors, there has been an impairment, in which case an appropriate adjustment is made.

RETURNGAIN LIMITED (REGISTERED NUMBER: 02615557)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 96
NET BOOK VALUE
At 31 March 2022 96
At 31 March 2021 96

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Western & Midland Investments Ltd
Registered office: Ferrari House, 258 Field End Road, Eastcote, Middlesex HA4 9UU
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00
2022 2021
£    £   
Aggregate capital and reserves 2,511,675 2,447,249
Profit/(loss) for the year 64,426 (200,045 )

Western & Midland Developments Ltd
Registered office: Ferrari House, 258 Field End Road, Eastcote, Middlesex HA4 9UU
Nature of business: Property investments
%
Class of shares: holding
Ordinary 100.00
2022 2021
£    £   
Aggregate capital and reserves - (2,977,282 )
Profit for the year - 10,070

The accounts of Western & Midland Developments Ltd disclose a significant deficit of which substantially reflects an amount owed by the company to P Marmot. Western and Midland Developments Ltd retains the benefit of tax losses of approx: £2,400,000 for which the director is seeking suitable opportunities.

Fixed asset investments are stated at cost less provision for diminution in value.

RETURNGAIN LIMITED (REGISTERED NUMBER: 02615557)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 528,813 744,253
Other debtors 158 158
528,971 744,411

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 10,696 10,999
Other creditors 74,724 290,558
85,420 301,557

7. ULTIMATE CONTROLLING PARTY

The controlling party is P J Marmot.

The ultimate controlling party is P J Marmot.