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REGISTERED NUMBER: 11669043 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st December 2023

for

REWARDSBAG LTD

REWARDSBAG LTD (REGISTERED NUMBER: 11669043)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REWARDSBAG LTD

Company Information
for the year ended 31st December 2023







DIRECTORS: D P Benton
C S J Lewcock
C Herbert
G Whyte





REGISTERED OFFICE: Suffolk House
George Street
Croydon
Surrey
CR0 0YN





REGISTERED NUMBER: 11669043 (England and Wales)





ACCOUNTANTS: Simpson Wreford & Partners
Chartered Accountants
Suffolk House
George Street
Croydon
Surrey
CR0 0YN

REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Statement of Financial Position
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 83,072 51,083
Tangible assets 5 358 570
83,430 51,653

CURRENT ASSETS
Debtors 6 196,353 242,059
Cash at bank 15,049 132,572
211,402 374,631
CREDITORS
Amounts falling due within one year 7 228,655 289,894
NET CURRENT (LIABILITIES)/ASSETS (17,253 ) 84,737
TOTAL ASSETS LESS CURRENT LIABILITIES 66,177 136,390

CAPITAL AND RESERVES
Called up share capital 12,904 12,904
Retained earnings 53,273 123,486
SHAREHOLDERS' FUNDS 66,177 136,390

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Statement of Financial Position - continued
31st December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2024 and were signed on its behalf by:





C Herbert - Director


REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

RewardsBag 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated deprecation 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 allocated the cost of assets less their residual value over their estimated useful lives, on the following basis:

Computer equipment - 33% on cost
Fixtures and fittings - 33% on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the statement of comprehensive income.

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 statement of financial position date.


REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023 63,996
Additions 63,778
At 31st December 2023 127,774
AMORTISATION
At 1st January 2023 12,913
Charge for year 31,789
At 31st December 2023 44,702
NET BOOK VALUE
At 31st December 2023 83,072
At 31st December 2022 51,083

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 1,772 5,290 7,062
Additions - 257 257
At 31st December 2023 1,772 5,547 7,319
DEPRECIATION
At 1st January 2023 1,408 5,084 6,492
Charge for year 208 261 469
At 31st December 2023 1,616 5,345 6,961
NET BOOK VALUE
At 31st December 2023 156 202 358
At 31st December 2022 364 206 570

REWARDSBAG LTD (REGISTERED NUMBER: 11669043)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 179,963 222,799
Other debtors 810 810
Directors' current accounts 3,944 7,105
Tax 11,636 -
VAT - 11,345
196,353 242,059

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 98,608 157,978
Social security and other taxes 10,796 6,646
VAT 3,830 -
Other creditors 1,919 3,038
Accrued expenses 113,502 122,232
228,655 289,894