Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30truedesign and installation of web sites and web-based software solutions582022-05-01false67true 04232998 2022-05-01 2023-04-30 04232998 2021-05-01 2022-04-30 04232998 2023-04-30 04232998 2022-04-30 04232998 c:Director1 2022-05-01 2023-04-30 04232998 d:Buildings 2022-05-01 2023-04-30 04232998 d:Buildings 2023-04-30 04232998 d:Buildings 2022-04-30 04232998 d:Buildings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04232998 d:MotorVehicles 2022-05-01 2023-04-30 04232998 d:MotorVehicles 2023-04-30 04232998 d:MotorVehicles 2022-04-30 04232998 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04232998 d:FurnitureFittings 2022-05-01 2023-04-30 04232998 d:FurnitureFittings 2023-04-30 04232998 d:FurnitureFittings 2022-04-30 04232998 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04232998 d:ComputerEquipment 2022-05-01 2023-04-30 04232998 d:ComputerEquipment 2023-04-30 04232998 d:ComputerEquipment 2022-04-30 04232998 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04232998 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04232998 d:CurrentFinancialInstruments 2023-04-30 04232998 d:CurrentFinancialInstruments 2022-04-30 04232998 d:Non-currentFinancialInstruments 2023-04-30 04232998 d:Non-currentFinancialInstruments 2022-04-30 04232998 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04232998 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 04232998 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04232998 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 04232998 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04232998 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-04-30 04232998 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 04232998 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-04-30 04232998 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 04232998 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-04-30 04232998 d:ShareCapital 2023-04-30 04232998 d:ShareCapital 2022-04-30 04232998 d:RetainedEarningsAccumulatedLosses 2023-04-30 04232998 d:RetainedEarningsAccumulatedLosses 2022-04-30 04232998 c:FRS102 2022-05-01 2023-04-30 04232998 c:Audited 2022-05-01 2023-04-30 04232998 c:FullAccounts 2022-05-01 2023-04-30 04232998 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04232998 c:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 04232998 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 04232998 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 04232998









REMARKABLE INTERNET LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
REMARKABLE INTERNET LIMITED
REGISTERED NUMBER: 04232998

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,422,434
1,402,046

Current assets
  

Debtors: amounts falling due within one year
 5 
1,595,570
1,253,392

Current asset investments
  
750,000
-

Cash at bank and in hand
 7 
1,889,696
2,069,664

  
4,235,266
3,323,056

Creditors: amounts falling due within one year
 8 
(1,115,557)
(833,477)

Net current assets
  
 
 
3,119,709
 
 
2,489,579

Total assets less current liabilities
  
4,542,143
3,891,625

Creditors: amounts falling due after more than one year
 9 
-
(653,917)

Provisions for liabilities
  

Deferred tax
 11 
(57,145)
(46,663)

Net assets
  
4,484,998
3,191,045


Capital and reserves
  

Called up share capital 
  
2,421
2,421

Profit and loss account
  
4,482,577
3,188,624

  
4,484,998
3,191,045


Page 1

 
REMARKABLE INTERNET LIMITED
REGISTERED NUMBER: 04232998
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2023.




M West
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Remarkable Internet Limited is a private limited company incorporated and domiciled in England.  Its registered office and principal place of business is situated at Newstead House, Lake View Drive, Annesley, Nottinghamshire NG15 0DT.
The principal activity of the company is the design and installation of web sites and web-based software solutions.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of signing the accounts there remains some uncertainty regarding the full econmic impact of Brexit and the wider geopolitical landscape. The directors are aware the company may be impacted in some way by general factors affecting the UK economy, however budgets show that the company is in a good position to react and adapt to future changes.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future.  Thus they continue to adopt the going concern basis of preparation of the financial statements. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless
Page 5

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 67 (2022 - 58).

Page 6

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2022
1,193,853
158,219
47,989
119,399
1,519,460


Additions
-
30,475
-
61,881
92,356


Disposals
-
-
-
(919)
(919)



At 30 April 2023

1,193,853
188,694
47,989
180,361
1,610,897



Depreciation


At 1 May 2022
-
19,972
26,553
70,889
117,414


Charge for the year on owned assets
-
37,736
5,359
28,107
71,202


Disposals
-
-
-
(153)
(153)



At 30 April 2023

-
57,708
31,912
98,843
188,463



Net book value



At 30 April 2023
1,193,853
130,986
16,077
81,518
1,422,434



At 30 April 2022
1,193,853
138,247
21,436
48,510
1,402,046


5.


Debtors

2023
2022
£
£


Trade debtors
506,992
682,137

Other debtors
509,443
511,891

Prepayments and accrued income
413,566
59,364

Tax recoverable
165,569
-

1,595,570
1,253,392


Page 7

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Current asset investments

2023
2022
£
£

Listed investments
750,000
-



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,889,696
2,069,664



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
47,337

Trade creditors
84,306
107,094

Corporation tax
402,784
290,446

Other taxation and social security
236,788
203,251

Other creditors
230,690
125,348

Accruals and deferred income
160,989
60,001

1,115,557
833,477



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
653,917


Page 8

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
47,337

Amounts falling due 1-2 years

Bank loans
-
49,392

Amounts falling due 2-5 years

Bank loans
-
161,423

Amounts falling due after more than 5 years

Bank loans
-
443,102

-
701,254


Bank loans are secured on the freehold property of the company.

Page 9

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

11.


Deferred taxation




2023


£






At beginning of year
46,663


Charged/(credited) to profit or loss
10,482



At end of year
57,145

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
57,145
46,663


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £52,149 (2022 - £39,386).  Contributions totalling £21,726 (2022 - £8,608) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

M West holds the contolling interest in the company.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2023 was unqualified.

The audit report was signed on 11 October 2023 by Jonathan Wilson FCA CTA (Senior statutory auditor) on behalf of Barnett & Turner Accountants Limited.

 
Page 10