Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity77truetrue 10247842 2022-04-01 2023-03-31 10247842 2021-04-01 2022-03-31 10247842 2023-03-31 10247842 2022-03-31 10247842 c:Director1 2022-04-01 2023-03-31 10247842 d:OfficeEquipment 2022-04-01 2023-03-31 10247842 d:OfficeEquipment 2023-03-31 10247842 d:OfficeEquipment 2022-03-31 10247842 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10247842 d:ComputerEquipment 2022-04-01 2023-03-31 10247842 d:ComputerEquipment 2023-03-31 10247842 d:ComputerEquipment 2022-03-31 10247842 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10247842 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10247842 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10247842 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10247842 d:ShareCapital 2023-03-31 10247842 d:ShareCapital 2022-03-31 10247842 d:RetainedEarningsAccumulatedLosses 2023-03-31 10247842 d:RetainedEarningsAccumulatedLosses 2022-03-31 10247842 c:FRS102 2022-04-01 2023-03-31 10247842 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10247842 c:FullAccounts 2022-04-01 2023-03-31 10247842 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10247842










The Return Hub Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
The Return Hub Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of The Return Hub Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Return Hub Limited for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Return Hub Limited in accordance with the terms of our engagement letter dated 9 August 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Return Hub Limited  and state those matters that we have agreed to state to the director of The Return Hub Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Return Hub Limited and its director for our work or for this report. 

It is your duty to ensure that The Return Hub Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Return Hub Limited. You consider that The Return Hub Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Return Hub Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
24 November 2023
Page 1

 
The Return Hub Limited
Registered number: 10247842

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,562
3,933

  
6,562
3,933

Current assets
  

Debtors
  
226,244
105,594

Cash at bank and in hand
  
1,107,675
939,365

  
1,333,919
1,044,959

Creditors: amounts falling due within one year
  
(427,426)
(367,704)

Net current assets
  
 
 
906,493
 
 
677,255

Total assets less current liabilities
  
913,055
681,188

  

Net assets
  
913,055
681,188


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
912,955
681,088

  
913,055
681,188


The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 by: 


Mrs D Newton Dunn
Director
Date: 23 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
The Return Hub Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

The company is a private company limited by share capital incorporated in England. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
The address of its registered office is: Springfield House, Springfield Road, Horsham, West Sussex RH12 2RG.

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 financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the director, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's trade, its customers and suppliers. However, taking into consideration the UK Government's response and the company's planning, the director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 
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.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
The Return Hub Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
5 Years
Computer equipment
-
3 Years

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4

 
The Return Hub Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.12

Taxation

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
The Return Hub Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
559
22,694
23,253


Additions
580
4,470
5,050



At 31 March 2023

1,139
27,164
28,303



Depreciation


At 1 April 2022
559
18,761
19,320


Charge for the year on owned assets
81
2,340
2,421



At 31 March 2023

640
21,101
21,741



Net book value



At 31 March 2023
499
6,063
6,562



At 31 March 2022
-
3,933
3,933


5.


Share-based payments

The company has issued EMI share options to one induvidual under equity arrangements. There are no non-market conditions attached to these including employment and service conditions. There are no market conditions attached. All options are equity settled.

Weighted average exercise price (pence)
2023
Number
2023
Weighted average exercise price
(pence)
2022
Number
2022

Outstanding at the beginning of the year

21.12

200

21.12
 
200
 
Granted during the year

52.25

200

-
 
-
 
Outstanding at the end of the year
36.69

400

21.12
 
200
 




Page 6

 
The Return Hub Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

6.


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 £67,475 (2022 - £37,496). Contributions totalling £2,061 (2022 - £1,911) were payable to the fund at the balance sheet date and are included in creditors.


Page 7