Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30No description of principal activity22022-10-01false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03100058 2022-10-01 2023-09-30 03100058 2021-10-01 2022-09-30 03100058 2023-09-30 03100058 2022-09-30 03100058 c:Director1 2022-10-01 2023-09-30 03100058 d:PlantMachinery 2022-10-01 2023-09-30 03100058 d:FurnitureFittings 2023-09-30 03100058 d:FurnitureFittings 2022-09-30 03100058 d:ComputerEquipment 2023-09-30 03100058 d:ComputerEquipment 2022-09-30 03100058 d:CurrentFinancialInstruments 2023-09-30 03100058 d:CurrentFinancialInstruments 2022-09-30 03100058 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03100058 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 03100058 d:ShareCapital 2023-09-30 03100058 d:ShareCapital 2022-09-30 03100058 d:RetainedEarningsAccumulatedLosses 2023-09-30 03100058 d:RetainedEarningsAccumulatedLosses 2022-09-30 03100058 c:FRS102 2022-10-01 2023-09-30 03100058 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03100058 c:FullAccounts 2022-10-01 2023-09-30 03100058 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 03100058










RATECOST LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
RATECOST LIMITED
REGISTERED NUMBER: 03100058

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 6 
14,255
14,255

Cash at bank and in hand
  
108
337

  
14,363
14,592

Creditors: amounts falling due within one year
 7 
(5,555)
(5,098)

Net current assets
  
 
 
8,808
 
 
9,494

Total assets less current liabilities
  
8,809
9,495

  

Net assets
  
8,809
9,495


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
8,807
9,493

  
8,809
9,495


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 22 February 2024.



Page 1

 
RATECOST LIMITED
REGISTERED NUMBER: 03100058
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023


Patricia Osowicz
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Ratecost Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found below:
Registered number is 03100058
Address is 28 Huntington Close, West Cross, Swansea, SA3 4QZ
The presentation currency of the financial statements is the Pound Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest (£).

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

Page 3

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.3

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.

 
2.4

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.

Page 4

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery etc
-
33% on cost and 10% on cost

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.

 
2.5

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless 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.
Basic financial liabilties, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Page 5

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Judgments in applying accounting policies 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 amounts 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 which 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 if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2

Page 6

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
2,433
1,049
3,482



At 30 September 2023

2,433
1,049
3,482



Depreciation


At 1 October 2022
2,433
1,048
3,481



At 30 September 2023

2,433
1,048
3,481



Net book value



At 30 September 2023
-
1
1



At 30 September 2022
-
1
1


6.


Debtors

2023
2022
£
£


Other debtors
14,255
14,255

14,255
14,255



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
13
158

Other taxation and social security
585
40

Other creditors
3,804
3,804

Accruals and deferred income
1,153
1,096

5,555
5,098


Page 7

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Related party disclosures

The company director, Mrs J I Wellington, is a trustee and beneficiary of Ratecost Limited Executive Pension Trust. The following related party transactions arose during the financial year:-
The company recharged managerial services fees of £5,000 (2022 - £5,500) to Ratecost Limited Executive Pension Trust.
Included in other debtors is an amount of £14,255 (2022 - £14,255) due from Ratecost Limited Executive Pension Trust. There are no fixed repayment terms and the balance is interest free.

 
Page 8