Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3119No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01false21truetruefalse 02592877 2023-04-01 2024-03-31 02592877 2022-04-01 2023-03-31 02592877 2024-03-31 02592877 2023-03-31 02592877 2022-04-01 02592877 c:Director2 2023-04-01 2024-03-31 02592877 c:Director3 2023-04-01 2024-03-31 02592877 d:Buildings 2023-04-01 2024-03-31 02592877 d:Buildings 2024-03-31 02592877 d:Buildings 2023-03-31 02592877 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02592877 d:PlantMachinery 2023-04-01 2024-03-31 02592877 d:PlantMachinery 2024-03-31 02592877 d:PlantMachinery 2023-03-31 02592877 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02592877 d:MotorVehicles 2023-04-01 2024-03-31 02592877 d:MotorVehicles 2024-03-31 02592877 d:MotorVehicles 2023-03-31 02592877 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02592877 d:OfficeEquipment 2023-04-01 2024-03-31 02592877 d:OfficeEquipment 2024-03-31 02592877 d:OfficeEquipment 2023-03-31 02592877 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02592877 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02592877 d:FreeholdInvestmentProperty 2024-03-31 02592877 d:FreeholdInvestmentProperty 2023-03-31 02592877 d:CurrentFinancialInstruments 2024-03-31 02592877 d:CurrentFinancialInstruments 2023-03-31 02592877 d:Non-currentFinancialInstruments 2024-03-31 02592877 d:Non-currentFinancialInstruments 2023-03-31 02592877 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02592877 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02592877 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 02592877 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 02592877 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 02592877 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 02592877 d:ShareCapital 2023-04-01 2024-03-31 02592877 d:ShareCapital 2024-03-31 02592877 d:ShareCapital 2022-04-01 2023-03-31 02592877 d:ShareCapital 2023-03-31 02592877 d:ShareCapital 2022-04-01 02592877 d:RevaluationReserve 2023-04-01 2024-03-31 02592877 d:RevaluationReserve 2024-03-31 02592877 d:RevaluationReserve 2022-04-01 2023-03-31 02592877 d:RevaluationReserve 2023-03-31 02592877 d:RevaluationReserve 2022-04-01 02592877 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02592877 d:RetainedEarningsAccumulatedLosses 2024-03-31 02592877 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 02592877 d:RetainedEarningsAccumulatedLosses 2023-03-31 02592877 d:RetainedEarningsAccumulatedLosses 2022-04-01 02592877 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 02592877 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 02592877 c:FRS102 2023-04-01 2024-03-31 02592877 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02592877 c:FullAccounts 2023-04-01 2024-03-31 02592877 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02592877 2 2023-04-01 2024-03-31 02592877 5 2023-04-01 2024-03-31 02592877 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 02592877










GAINREWARD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GAINREWARD LIMITED
REGISTERED NUMBER: 02592877

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
610,998
598,479

Investment property
 5 
550,000
550,000

  
1,160,998
1,148,479

Current assets
  

Stocks
  
144,260
204,050

Debtors: amounts falling due within one year
 6 
1,792,651
1,647,515

Cash at bank and in hand
 7 
1,145,162
1,356,036

  
3,082,073
3,207,601

Creditors: amounts falling due within one year
 8 
(618,001)
(673,776)

Net current assets
  
 
 
2,464,072
 
 
2,533,825

Total assets less current liabilities
  
3,625,070
3,682,304

Creditors: amounts falling due after more than one year
 9 
(167,982)
(205,793)

Provisions for liabilities
  

Deferred tax
  
(57,083)
(75,798)

  
 
 
(57,083)
 
 
(75,798)

Net assets
  
3,400,005
3,400,713


Capital and reserves
  

Called up share capital 
  
900
900

Revaluation reserve
  
68,790
68,790

Profit and loss account
  
3,330,315
3,331,023

  
3,400,005
3,400,713


Page 1

 
GAINREWARD LIMITED
REGISTERED NUMBER: 02592877
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 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 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 16 July 2024.




................................................
Mrs L Rothery
................................................
Mr C Goodman
Director
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
GAINREWARD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
900
68,790
3,331,023
3,400,713


Comprehensive income for the year

Loss for the year

-
-
(708)
(708)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(708)
(708)


Total transactions with owners
-
-
-
-


At 31 March 2024
900
68,790
3,330,315
3,400,005


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
GAINREWARD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
900
68,790
3,023,687
3,093,377


Comprehensive income for the year

Profit for the year

-
-
343,336
343,336


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
343,336
343,336


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(36,000)
(36,000)


Total transactions with owners
-
-
(36,000)
(36,000)


At 31 March 2023
900
68,790
3,331,023
3,400,713


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Gainreward Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moorgate House, 201 Silbury Boulevard,  Milton Keynes, Bucks, MK9 1LZ. The principal place of business is Tavistock Street, Bletchley, Milton Keynes, MK2 2PP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 6

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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, .

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 7

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

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 9

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 21).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
440,342
1,129,587
496,978
10,543
2,077,450


Additions
-
926
102,932
801
104,659


Disposals
-
(136,831)
-
-
(136,831)



At 31 March 2024

440,342
993,682
599,910
11,344
2,045,278



Depreciation


At 1 April 2023
148,224
968,570
354,136
8,041
1,478,971


Charge for the year on owned assets
8,807
39,731
40,444
759
89,741


Disposals
-
(134,432)
-
-
(134,432)



At 31 March 2024

157,031
873,869
394,580
8,800
1,434,280



Net book value



At 31 March 2024
283,311
119,813
205,330
2,544
610,998



At 31 March 2023
292,118
161,017
142,842
2,502
598,479

Page 10

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
550,000



At 31 March 2024
550,000

The 2024 valuations were made by directors, on an open market value for existing use basis.



At 31 March 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
481,210
481,210


6.


Debtors

2024
2023
£
£


Trade debtors
646,763
691,786

Amounts owed by joint ventures and associated undertakings
29,856
29,856

Other debtors
1,022,375
849,050

Prepayments and accrued income
93,657
76,823

1,792,651
1,647,515



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,145,162
1,356,036

1,145,162
1,356,036


Page 11

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
11,671
10,531

Trade creditors
166,024
196,041

Corporation tax
73,244
96,629

Other taxation and social security
331,194
335,731

Obligations under finance lease and hire purchase contracts
25,000
25,000

Accruals and deferred income
10,868
9,844

618,001
673,776



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
155,482
168,293

Net obligations under finance leases and hire purchase contracts
12,500
37,500

167,982
205,793


Page 12

 
GAINREWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,671
10,531


11,671
10,531

Amounts falling due 1-2 years

Bank loans
155,482
168,293


155,482
168,293



167,153
178,824


The bank loans are secured by way of fixed and floating charges over the undertaking and all its property and assets, present and future debts, fixtures and plant and machinery.


11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,145,162
1,356,036




12.


Transactions with directors

At the year end, the company was owed a balance of £725,512 (2023 - £591,916) from the directors. The loans are interest free and repayable on demand.

 
Page 13