Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-313The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false3false2022-06-01trueNo description of principal activity 11962287 2022-06-01 2023-05-31 11962287 2021-06-01 2022-05-31 11962287 2023-05-31 11962287 2022-05-31 11962287 c:Director1 2022-06-01 2023-05-31 11962287 d:CurrentFinancialInstruments 2023-05-31 11962287 d:CurrentFinancialInstruments 2022-05-31 11962287 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11962287 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 11962287 d:ShareCapital 2023-05-31 11962287 d:ShareCapital 2022-05-31 11962287 d:RetainedEarningsAccumulatedLosses 2023-05-31 11962287 d:RetainedEarningsAccumulatedLosses 2022-05-31 11962287 c:FRS102 2022-06-01 2023-05-31 11962287 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 11962287 c:FullAccounts 2022-06-01 2023-05-31 11962287 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11962287 2 2022-06-01 2023-05-31 11962287 6 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
Registered number: 11962287









RETHINK BUSINESS GROUP LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023














 
RETHINK BUSINESS GROUP LTD
REGISTERED NUMBER:11962287

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
314,993
250,722

  
314,993
250,722

Current assets
  

Cash at bank and in hand
  
173,504
172,850

  
173,504
172,850

Creditors: amounts falling due within one year
 5 
(964)
(845)

Net current assets
  
 
 
172,540
 
 
172,005

Total assets less current liabilities
  
487,533
422,727

  

Net assets
  
487,533
422,727


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
487,433
422,627

  
487,533
422,727


Page 1

 
RETHINK BUSINESS GROUP LTD
REGISTERED NUMBER:11962287
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 profit and loss account 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 September 2023.




................................................
R Young
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
RETHINK BUSINESS GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Rethink Business Group Limited is a private company, limited by shares, domiciled in England. The registered office is Courtenay House, Pynes Hill, Exeter, Devon, EX2 5AZ.

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

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
RETHINK BUSINESS GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Page 4

 
RETHINK BUSINESS GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

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 the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
3
3


4.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 June 2022
67
250,655
250,722


Additions
-
69,990
69,990


Revaluations
-
(5,719)
(5,719)



At 31 May 2023
67
314,926
314,993





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
7

Other creditors
-
82

Accruals and deferred income
964
756

964
845


 
Page 5