Company registration number 05934017 (England and Wales)
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
CONTENTS
Page
Balance sheet
2 - 3
Statement of changes in equity
1
Notes to the financial statements
4 - 16
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -
Share capital
Share premium account
Capital redemption reserve
Share - based payment reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 April 2021
22,000
193,925
10,000
305,693
(1,572,878)
(1,041,260)
Year ended 31 March 2022:
Profit and total comprehensive income for the year
-
-
-
-
641,563
641,563
Cancelled share-based payments
12
-
-
-
(58,527)
58,527
-
Share - based payment expense
-
-
-
54,542
54,542
Transfer for prior year share - based payments
-
83,773
-
-
(83,773)
-
Balance at 31 March 2022
22,000
277,698
10,000
301,708
(956,561)
(345,155)
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
-
-
-
(244,895)
(244,895)
Issue of share capital
13
3,080
49,920
-
-
-
53,000
Transfer for prior year share - based payments
12
-
-
-
58,527
(58,527)
-
Share - based payment expense
-
-
-
11,885
11,885
Balance at 31 March 2023
25,080
327,618
10,000
372,120
(1,259,983)
(525,165)
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
6
1,103,904
905,557
Tangible assets
7
22,031
22,233
Investments
8
3,704
3,704
1,129,639
931,494
Current assets
Debtors
9
497,549
1,066,655
Cash at bank and in hand
1,454,559
508,580
1,952,108
1,575,235
Creditors: amounts falling due within one year
10
(1,599,437)
(1,476,923)
Net current assets
352,671
98,312
Total assets less current liabilities
1,482,310
1,029,806
Creditors: amounts falling due after more than one year
11
(2,007,475)
(1,374,961)
Net liabilities
(525,165)
(345,155)
Capital and reserves
Called up share capital
13
25,080
22,000
Share premium account
327,618
277,698
Capital redemption reserve
10,000
10,000
Share - based payment reserve
372,120
301,708
Profit and loss reserves
(1,259,983)
(956,561)
Total equity
(525,165)
(345,155)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 3 August 2023 and are signed on its behalf by:
J C Butcher
Director
Company Registration No. 05934017
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information
Solutions For Retail Brands Limited is a private company limited by shares incorporated in England and Wales. The registered office is Water Court, 116-118 Canal Street, Nottingham, NG1 7HF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors believe the company has adequate equity and loan finance to continue to fund the business after the balance sheet date.
The company recognises it is showing a net liabilities position on the balance sheet as at the year end date. However, this is reflective of the structuring associated with the investment received from its institutional investor, the Foresight Nottingham Fund, as a large proportion has been provided in the form of shareholder loan notes which have a current maturity date of December 2026, or any later date agreed in writing. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable in respect of goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.
Revenue in respect of professional services such as consulting days and training are recognised as these services are delivered.
Revenue in respect of support and maintenance is recognised on a time-basis over the length of the support period.
Revenue on software sold on a subscription basis is recognised on a time-basis over the subscription period.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
20% straight line basis
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% straight line basis
Office equipment
33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.8
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
An impairment loss is recognised immediately in profit or loss.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at the transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.11
Share capital
Shares issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on each class of shares are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
1.15
Share-based payments
Equity-settled share-based payments are measured at fair value by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined is expensed on a straight-line basis, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
1.16
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
1.17
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
2
Judgements and key sources of estimation uncertainty
(Continued)
- 9 -
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Capitalisation of development costs
The company capitalises development costs if certain criteria are met. This process requires judgement and estimation from management in order to ascertain the amount of expenditure to be capitalised and the expected future economic benefit to be derived.
The amounts capitalised are based on timesheets multiplied by their hourly rate and a proportion of indirect overheads. For senior management who do not submit timesheets capitalisation is based on a percentage of their annual salary.
Additional judgement is also required to determine the useful economic life to amortise the development costs.
Share based payments
The company calculates equity settled share based payments using the Black - Scholes model. Included within this calculation is an estimated value of the company, based on the expected value of future sales and the number of options that are expected to vest. This requires significant judgement and estimation from management surrounding the future expected value of the company.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
30
29
4
Directors' remuneration
2023
2022
£
£
Remuneration paid to directors
405,330
343,133
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
5
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
(116,384)
(74,202)
At the year end the company had losses of £1,207,187 (2022: £1,034,033) carried forward.
6
Intangible fixed assets
Development costs
£
Cost
At 1 April 2022
2,183,195
Additions
522,511
At 31 March 2023
2,705,706
Amortisation and impairment
At 1 April 2022
1,277,638
Amortisation charged for the year
324,164
At 31 March 2023
1,601,802
Carrying amount
At 31 March 2023
1,103,904
At 31 March 2022
905,557
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
7
Tangible fixed assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 April 2022
61,850
84,792
146,642
Additions
7,874
6,649
14,523
Disposals
(10,376)
(10,376)
At 31 March 2023
69,724
81,065
150,789
Depreciation and impairment
At 1 April 2022
61,100
63,309
124,409
Depreciation charged in the year
1,322
11,709
13,031
Eliminated in respect of disposals
(8,682)
(8,682)
At 31 March 2023
62,422
66,336
128,758
Carrying amount
At 31 March 2023
7,302
14,729
22,031
At 31 March 2022
750
21,483
22,233
8
Fixed asset investments
2023
2022
£
£
Investments
3,704
3,704
The investment above relates to a 100% shareholding in Solutions for Retail Brands Inc.
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022 & 31 March 2023
3,704
Carrying amount
At 31 March 2023
3,704
At 31 March 2022
3,704
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
9
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
264,704
809,205
Amounts owed by group undertakings
1,111
Corporation tax recoverable
116,352
123,806
Other debtors
115,382
133,644
497,549
1,066,655
10
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
112,500
62,500
Trade creditors
100,458
159,540
Taxation and social security
53,856
50,196
Other creditors
17,502
11,332
Accruals and deferred income
1,315,121
1,193,355
1,599,437
1,476,923
The other borrowings are secured by fixed and floating charges over all assets of the company.
11
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other borrowings
1,609,460
1,374,961
Accruals and deferred income
398,015
2,007,475
1,374,961
The other borrowings are secured by fixed and floating charges over all assets of the company.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
11
Creditors: amounts falling due after more than one year
(Continued)
- 13 -
Other borrowings include £1,300,000 (2022: £1,150,000) of secured loan notes issued by Foresight Nottingham Fund LP, and are secured by a fixed and floating charge over the assets of the company. Interest is charged at 3% on these loan notes and they are repayable by December 2026 or any later date agreed in writing.
A further £35,322 (2022: £53,085) of other borrowings relates to director loan notes with interest charged at 3% and repayable by December 2026.The company paid £1,593 (2022: £1,593) in interest on these loan notes during the year.
Other borrowings also include an amount of £171,875 (2022: £234,375), which is in relation to a Coronavirus Business Interruption Scheme Loan. This is secured by way of a fixed and floating charge against the company's assets. Interest is charged at 7.00% per annum. The balance due under one year is £62,500 (2022: £62,500) and the balance due over one year is £109,375 (2022: £171,875).
A new loan was taken out in the year totalling £250,000 from Maven. This is secured by way of a fixed and floating charge against the company's assets. Interest is charged at 8.00% per annum. At the year end, the balance due under one year is £50,000 and the balance due over one year is £150,000.
12
Share-based payment transactions
Number of share options
Weighted average exercise price
2023
2022
2023
2022
Number
Number
£
£
Outstanding at 1 April 2022
4,124
4,924
1.00
1.00
Granted
2,771
Forfeited
(800)
1.00
1.00
Outstanding at 31 March 2023
6,895
4,124
1.00
Exercisable at 31 March 2023
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12
Share-based payment transactions
(Continued)
- 14 -
In June 2011 the company issued 490 share options with an exercise price of £10.20. The company has applied the transition exemption of FRS 102 in respect of these options. Also included in the brought forward balance are options issued on 18 December 2015 at an exercise price of £25.50 and options issued on 30 June 2017 at an exercise price of £25.00 all options lapse 10 years after grant and are exercisable on a sale or listing of the company. The exercise price of all options was modified to £1 in 2020.
The company calculated the fair value of the share options using the Black Scholes model. The share options do not have any market based criteria that would affect whether they can be exercised, consequently the Black Scholes model was considered appropriate.
During the year, the company recognised total share-based payment expenses of £11,885 (2022: £54,542) which related to equity settled share based payment transactions.
The share value is specific to these share options and not a company valuation. The share option value reflects a reduced value of equity due to the value distribution rules within the company's articles.
13
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
12,002
12,002
12,002
12,002
Ordinary A shares of £1 each
8,000
8,000
8,000
8,000
Ordinary B shares of £1 each
1,998
1,998
1,998
1,998
Ordinary AA Shares of 1p each
8,000
-
80
-
Ordinary C Shares of £1 each
3,000
-
3,000
-
33,000
22,000
25,080
22,000
Holders of the 'Ordinary', 'Ordinary A', 'Ordinary AA', 'Ordinary B' and 'Ordinary C' shares all have the right to receive a dividend in proportion to the number of shares held by them, as if they constituted one class of share. The 'Ordinary A' and 'Ordinary AA' shareholders shall receive no more than 38.5% of each distribution. If at the proposed date of distribution there is any capital or interest outstanding on the loan notes, no dividend shall be payable on any shares without the consent of the investor director. Any deferred shares in issue do not carry a right to a dividend.
'Ordinary', 'Ordinary A', 'Ordinary AA', 'Ordinary B' and 'Ordinary C' shareholders have one vote per share. Any deferred shares in issue to not have a right to vote. The total number of votes attaching to the shares held by Foresight Nottingham Fund LP is capped at 49.99% of the votes attached to all voting shares.
During the year 8,000 Ordinary AA shares were issued at a nominal value of 1p per share, with a premium of £49,920 being paid. 3,000 Ordinary C shares were issued at a value of £1.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
14
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Andrew Timms
Statutory Auditor:
UHY Hacker Young
15
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
106,340
5,125
16
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
During the year the company made purchases of £28,164 (2022: £19,729) from Foresight Nottingham Fund LP for director services. At the balance sheet date there was £6,805 (2022: £11,870) owing to Foresight Nottingham Fund LP. In addition interest was payable on the loan notes to Foresight Nottingham Fund LP during the year amounting to £27,600 (2022: £29,320).
At the balance sheet date there was £1,111 (2022 - £Nil) due from Solutions for Retail Brands Inc.
SOLUTIONS FOR RETAIL BRANDS LIMITED
TRADING AS SUPPLY PILOT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
17
Reserves
Profit and loss reserve
The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.
Share premium reserve
The share premium reserve represents an additional amount of funds received by the company exceeding the par value of its shares.
Capital redemption reserve
The capital redemption reserve represents non distributable reserves following the purchase of the company's own shares out of distributable profits.
Share - based payment reserve
The company operates an equity based share option scheme. The fair value determined at the grant date is expenses on a straight line basis over the vesting period, with a corresponding adjustment made to equity.
2023-03-312022-04-01false03 August 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedJ C ButcherM R FowkesP A CoatesMs J LeeN R AlexanderJ C Lee059340172022-04-012023-03-3105934017core:ShareCapital2021-03-3105934017core:SharePremium2021-03-3105934017core:CapitalRedemptionReserve2021-03-3105934017core:RetainedEarningsAccumulatedLosses2021-03-3105934017core:ShareCapital2022-03-3105934017core:SharePremium2022-03-3105934017core:CapitalRedemptionReserve2022-03-3105934017core:RetainedEarningsAccumulatedLosses2022-03-31059340172022-03-3105934017core:ShareCapital2023-03-3105934017core:SharePremium2023-03-3105934017core:CapitalRedemptionReserve2023-03-3105934017core:RetainedEarningsAccumulatedLosses2023-03-31059340172023-03-3105934017core:OtherMiscellaneousReserve2023-03-3105934017core:OtherMiscellaneousReserve2022-03-3105934017core:ShareCapitalOrdinaryShares2023-03-3105934017core:ShareCapitalOrdinaryShares2022-03-3105934017core:RetainedEarningsAccumulatedLosses2021-04-012022-03-31059340172021-04-012022-03-3105934017core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3105934017core:ShareCapital2022-04-012023-03-3105934017core:SharePremium2022-04-012023-03-3105934017core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-3105934017core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3105934017core:FurnitureFittings2023-03-3105934017core:ComputerEquipment2023-03-3105934017core:FurnitureFittings2022-03-3105934017core:ComputerEquipment2022-03-3105934017core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3105934017core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3105934017core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3105934017core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3105934017core:CurrentFinancialInstruments2023-03-3105934017core:CurrentFinancialInstruments2022-03-3105934017core:Non-currentFinancialInstruments2023-03-3105934017core:Non-currentFinancialInstruments2022-03-3105934017bus:Director12022-04-012023-03-3105934017core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105934017core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105934017core:FurnitureFittings2022-04-012023-03-3105934017core:ComputerEquipment2022-04-012023-03-3105934017core:UKTax2022-04-012023-03-3105934017core:UKTax2021-04-012022-03-3105934017core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3105934017core:FurnitureFittings2022-03-3105934017core:ComputerEquipment2022-03-31059340172022-03-31059340172021-03-3105934017bus:PrivateLimitedCompanyLtd2022-04-012023-03-3105934017bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105934017bus:FRS1022022-04-012023-03-3105934017bus:Audited2022-04-012023-03-3105934017bus:Director22022-04-012023-03-3105934017bus:Director32022-04-012023-03-3105934017bus:Director42022-04-012023-03-3105934017bus:Director52022-04-012023-03-3105934017bus:CompanySecretary12022-04-012023-03-3105934017bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP