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REGISTERED NUMBER: 06599238 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Rabbitsoft Ltd

Rabbitsoft Ltd (Registered number: 06599238)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Rabbitsoft Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S T Bilsel
V C Stekly
J C Attueyi





REGISTERED OFFICE: Clinked.Com
50-60 Station Road
Cambridge
CB1 2JH





REGISTERED NUMBER: 06599238 (England and Wales)





ACCOUNTANTS: Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF

Rabbitsoft Ltd (Registered number: 06599238)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 391,968 419,931
Tangible assets 5 9,316 11,474
401,284 431,405

CURRENT ASSETS
Debtors 6 36,987 57,702
Cash at bank and in hand 327,234 191,275
364,221 248,977
CREDITORS
Amounts falling due within one year 7 100,593 94,080
NET CURRENT ASSETS 263,628 154,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

664,912

586,302

CREDITORS
Amounts falling due after more than one
year

8

15,720

26,673
NET ASSETS 649,192 559,629

CAPITAL AND RESERVES
Called up share capital 11 122 122
Share premium 113,130 113,130
Retained earnings 535,940 446,377
SHAREHOLDERS' FUNDS 649,192 559,629

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Rabbitsoft Ltd (Registered number: 06599238)

Balance Sheet - continued
31 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





S T Bilsel - Director


Rabbitsoft Ltd (Registered number: 06599238)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

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

Revenue from the supply of computer software subscriptions is recognised on a straight line basis over the subscription period.

Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting period.

Intangible assets
Expenditure on software development is capitalised and shown as an intangible asset.

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.

Software development cost is being amortised over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument, unless exempt from such treatment.


Rabbitsoft Ltd (Registered number: 06599238)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 2,782,684
Additions 190,079
At 31 December 2023 2,972,763
AMORTISATION
At 1 January 2023 2,362,753
Charge for year 218,042
At 31 December 2023 2,580,795
NET BOOK VALUE
At 31 December 2023 391,968
At 31 December 2022 419,931

Rabbitsoft Ltd (Registered number: 06599238)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 51,033
Additions 7,491
Disposals (1,663 )
At 31 December 2023 56,861
DEPRECIATION
At 1 January 2023 39,559
Charge for year 9,095
Eliminated on disposal (1,109 )
At 31 December 2023 47,545
NET BOOK VALUE
At 31 December 2023 9,316
At 31 December 2022 11,474

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 4,364 23,369
Other debtors 26,793 5,001
31,157 28,370

Amounts falling due after more than one year:
Other debtors 5,830 29,332

Aggregate amounts 36,987 57,702

Deferred tax asset
31.12.23 31.12.22
£    £   
Accelerated capital allowances (1,770 ) (2,180 )
Tax losses carried forward 82,074 111,299
Other timing differences (74,474 ) (79,787 )
5,830 29,332

Rabbitsoft Ltd (Registered number: 06599238)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,118 9,055
Trade creditors 18,734 11,811
Taxation and social security 27,059 32,259
Other creditors 44,682 40,955
100,593 94,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,720 26,673

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 6,428 846
Between one and five years 1,607 -
8,035 846

10. DEFERRED TAX
£   
Balance at 1 January 2023 (29,332 )
Provided during year 23,502
Balance at 31 December 2023 (5,830 )

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
121,700 Ordinary £0.001 0.1p 122 122

12. ULTIMATE CONTROLLING PARTY

The controlling party is S T Bilsel.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Rabbitsoft Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rabbitsoft Ltd for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rabbitsoft Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rabbitsoft Ltd and state those matters that we have agreed to state to the Board of Directors of Rabbitsoft Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rabbitsoft Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rabbitsoft Ltd 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 Rabbitsoft Ltd. You consider that Rabbitsoft Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rabbitsoft Ltd. 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.






Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF


23 August 2024