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Registered number: 07635792










RETARUS (UK) LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024



 
RETARUS (UK) LTD
REGISTERED NUMBER: 07635792

BALANCE SHEET
AS AT 31 MAY 2024




2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
174
770

  
174
770

Current assets
  

Debtors: amounts falling due within one year
 5 
179,888
138,017

Cash at bank and in hand
 6 
56,388
55,017

  
236,276
193,034

Creditors: amounts falling due within one year
 7 
(470,234)
(390,291)

Net current liabilities
  
 
 
(233,958)
 
 
(197,257)

Total assets less current liabilities
  
(233,784)
(196,487)

  

Net liabilities
  
(233,784)
(196,487)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
(243,784)
(206,487)

  
(233,784)
(196,487)


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 statement of comprehensive income in accordance with provisions applicable to companies subject to 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 statement of comprehensive income 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 by: 



R Sandner
Director
Date: 23 August 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Retarus (UK) Limited is a private company, limited by share capital and incorporated in England and Wales. 
The Company's registered office is James Cowper Kreston, 8th Floor South, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

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

Going concern

The financial statements are prepared on the going concern basis as the directors are of the opinion that the company will continue to receive the financial support of the parent company. A letter of support has been provided by the parent company that confirms it's support for a period of 12 months from the date these financial statements were signed.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

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:

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.

 
2.5

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.

 
2.6

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 3

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33.33%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
1,366


Additions
2,053



At 31 May 2024

3,419



Depreciation


At 1 June 2023
596


Charge for the year
2,649



At 31 May 2024

3,245



Net book value



At 31 May 2024
174



At 31 May 2023
770


5.


Debtors

2024
2023
£
£


Trade debtors
99,136
71,069

Prepayments and accrued income
1,372
-

Deferred taxation
79,380
66,948

179,888
138,017



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
56,388
55,017


Page 5

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,623
2,390

Amounts owed to group undertakings
436,240
349,422

Other taxation and social security
19,771
17,848

Other creditors
1,000
-

Accruals and deferred income
9,600
20,631

470,234
390,291



8.


Creditors: Amounts falling due after more than one year





9.


Deferred taxation




2024
2023


£

£






At beginning of year
66,948
50,808


Charged to profit or loss
12,432
16,140



At end of year
79,380
66,948

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
79,380
66,948

79,380
66,948


10.


Related party transactions

At the year end the Company owed £436,240 (2023: £349,422) to their parent company Retarus GmbH. This amount is interest free and repayable upon demand.
Transactions with other wholly owned group companies have not been disclosed because the Company has taken advantage of the exemption available under FRS 102 paragraph 33.1A.


11.


Controlling party

The company is controlled by Retarus GmbH, its immediate and ultimate parent company, a company incorporated in Germany.Retarus GmbH is also the parent of both the largest and smallest group of undertakings for which group accounts including the company are prepared.
Page 6

 
RETARUS (UK) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 23 August 2024 by Alexander Peal BSc FCA DChA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.

Page 7