Refund Giant Ltd 12166874 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the provision of VAT refund services for overseas travellers. Digita Accounts Production Advanced 6.30.9574.0 true false true 12166874 2022-09-01 2023-08-31 12166874 2023-08-31 12166874 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-08-31 12166874 core:CurrentFinancialInstruments 2023-08-31 12166874 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12166874 core:FurnitureFittingsToolsEquipment 2023-08-31 12166874 bus:SmallEntities 2022-09-01 2023-08-31 12166874 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12166874 bus:FilletedAccounts 2022-09-01 2023-08-31 12166874 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12166874 bus:RegisteredOffice 2022-09-01 2023-08-31 12166874 bus:CompanySecretary1 2022-09-01 2023-08-31 12166874 bus:Director1 2022-09-01 2023-08-31 12166874 bus:Consolidated 1 2022-09-01 2023-08-31 12166874 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12166874 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 12166874 core:OfficeEquipment 2022-09-01 2023-08-31 12166874 countries:EnglandWales 2022-09-01 2023-08-31 12166874 2022-08-31 12166874 core:FurnitureFittingsToolsEquipment 2022-08-31 12166874 2021-09-01 2022-08-31 12166874 2022-08-31 12166874 core:CurrentFinancialInstruments 2022-08-31 12166874 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 12166874 core:FurnitureFittingsToolsEquipment 2022-08-31 12166874 1 2022-08-31 12166874 1 2021-09-01 2022-08-31 12166874 1 2021-08-31 iso4217:GBP xbrli:pure

Registration number: 12166874

Refund Giant Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Refund Giant Ltd

Contents
for the Year Ended 31 August 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Refund Giant Ltd

Company Information
for the Year Ended 31 August 2023

Director

X Du

Company secretary

OHS Secretaries Limited

Registered office

9th Floor
107 Cheapside
London
EC2V 6DN

Registered number

12166874 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified Accountants
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Refund Giant Ltd

(Registration number: 12166874)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,040

2,220

Other financial assets

5

730,584

-

 

735,624

2,220

Current assets

 

Debtors

6

187,565

58,867

Cash at bank and in hand

 

10,330

132,965

 

197,895

191,832

Creditors: Amounts falling due within one year

7

(1,593,409)

(405,921)

Net current liabilities

 

(1,395,514)

(214,089)

Net liabilities

 

(659,890)

(211,869)

Capital and reserves

 

Called up share capital

900

900

Retained earnings

(660,790)

(212,769)

Shareholders' deficit

 

(659,890)

(211,869)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2024
 

 

Refund Giant Ltd

(Registration number: 12166874)
Balance Sheet as at 31 August 2023

.........................................
X Du
Director

 

Refund Giant Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9th Floor
107 Cheapside
London
EC2V 6DN

These financial statements were authorised for issue by the director on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Refund Giant Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight Line 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 1).

 

Refund Giant Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

3,074

3,074

Additions

4,723

4,723

At 31 August 2023

7,797

7,797

Depreciation

At 1 September 2022

854

854

Charge for the year

1,903

1,903

At 31 August 2023

2,757

2,757

Carrying amount

At 31 August 2023

5,040

5,040

At 31 August 2022

2,220

2,220

 

Refund Giant Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Fair value adjustments

5,584

5,584

Additions

725,000

725,000

At 31 August 2023

730,584

730,584

Impairment

Carrying amount

At 31 August 2023

730,584

730,584

6

Debtors

Current

2023
£

2022
£

Other debtors

187,565

58,867

 

187,565

58,867

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1,559,617

359,061

Taxation and social security

 

25,987

41,230

Accruals and deferred income

 

3,169

5,630

Other creditors

 

4,636

-

 

1,593,409

405,921

 

Refund Giant Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

8

Related party transactions

Transactions with the director

2022

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Advances and credits

2,009

55,556

(57,565)

-

 

9

Ultimate controlling party

Refund Giant Ltd is a wholly owned subsidiary of Refund Giant Inc.

The registered and trading address of Refund Giant Inc. is

1209 North Orange Street
Wilmington
Delaware
United States
19801

The company's immediate parent is Refund Giant Inc. incorporated in the USA.