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REMULATE PROTECT LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REMULATE PROTECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: M Cohen





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 07069969 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,455 471
Investments 5 1 1
8,456 472

CURRENT ASSETS
Debtors 6 546,030 480,042
Cash at bank 141,628 73,201
687,658 553,243
CREDITORS
Amounts falling due within one year 7 282,899 203,110
NET CURRENT ASSETS 404,759 350,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,215

350,605

CREDITORS
Amounts falling due after more than one
year

8

(67,242

)

(53,010

)

PROVISIONS FOR LIABILITIES (89,347 ) (79,082 )
NET ASSETS 256,626 218,513

CAPITAL AND RESERVES
Called up share capital 16,941 11,765
Share premium 297,814 82,990
Retained earnings (58,129 ) 123,758
256,626 218,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

BALANCE SHEET - continued
31ST MARCH 2023


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 director and authorised for issue on 25th October 2023 and were signed by:





M Cohen - Director


REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Remulate Protect Ltd 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.

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 and net of commission repaid where previously referred policies are cancelled. 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 probably 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

Within Plant and Equipment, Furniture/fittings are depreciated at 16% on cost, and office equipment is depreciated at 20% on cost.

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

Financial instruments
The Company only enters into basic financial instruments 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 non-puttable 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 Comprehensive Income.

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.


REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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.

The assets of the plan are held separately from the Company in independently administered funds.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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.

Contingent liabilities in the form of repayable commissions from income previously received are provided for to the extent that it is likely that such clawbacks will occur.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2022 13,791 11,300 25,091
Additions 6,311 2,906 9,217
At 31st March 2023 20,102 14,206 34,308
DEPRECIATION
At 1st April 2022 13,398 11,222 24,620
Charge for year 729 504 1,233
At 31st March 2023 14,127 11,726 25,853
NET BOOK VALUE
At 31st March 2023 5,975 2,480 8,455
At 31st March 2022 393 78 471

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st April 2022
and 31st March 2023 1
NET BOOK VALUE
At 31st March 2023 1
At 31st March 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 311,947 235,719
Other debtors 234,083 244,323
546,030 480,042

Deferred tax asset
31.3.23 31.3.22
£    £   
Accelerated capital allowances (2,131 ) (84 )
Tax losses carried forward 227,701 206,816
225,570 206,732

The above deferred tax asset is included within "Other debtors", however whilst the directors anticipate that the company will generate sufficient profits to set losses against in the future, it is likely that not all of the sum will reverse in the period following these financial statements. The amount of the tax asset realised will depend on the financial position of the company during this time which is unquantifiable.

REMULATE PROTECT LTD (REGISTERED NUMBER: 07069969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 67,242 53,009
Amounts owed to group undertakings 200,363 86,088
Taxation and social security 9,251 6,246
Other creditors 6,043 57,767
282,899 203,110

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Trade creditors 67,242 53,010

9. CONTINGENT LIABILITIES

The company receives commission from insurers and other similar entities in respect of referrals made during and prior to the year. Where such policies are cancelled by customers, a clawback arises which is netted off against commissions received by the company. In the opinion of the directors, the provision for long term clawbacks arising from business done during the year is prudent and sufficient at approximately 10% of current year turnover, as well as specific provisions for known clawbacks arising in the subsequent period.

10. RELATED PARTY DISCLOSURES

At the year end, the company was owed £272,726 (2022:£235,525) from it's parent company (Remulate Limited). This amount is interest free and repayable on demand.

The entity has claimed exemption from reporting related party transactions for wholly owned subsidiaries.