Registered number
11362661
Referral Management Services Limited
Unaudited Filleted Accounts
31 March 2024
Referral Management Services Limited
Registered number: 11362661
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,360,007 4,480,007
Tangible assets 4 16,900 20,457
3,376,907 4,500,464
Current assets
Debtors 5 1,355,549 1,159,472
Cash at bank and in hand 4,798,384 3,267,788
6,153,933 4,427,260
Creditors: amounts falling due within one year 6 (5,534,414) (6,471,915)
Net current assets/(liabilities) 619,519 (2,044,655)
Total assets less current liabilities 3,996,426 2,455,809
Provisions for liabilities (4,226) (3,887)
Net assets 3,992,200 2,451,922
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,992,199 2,451,921
Shareholder's funds 3,992,200 2,451,922
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Iain Pretty
Director
Approved by the board on 7 September 2023
Referral Management Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 5,600,007
At 31 March 2024 5,600,007
Amortisation
At 1 April 2023 1,120,000
Provided during the year 1,120,000
At 31 March 2024 2,240,000
Net book value
At 31 March 2024 3,360,007
At 31 March 2023 4,480,007
Software copyright is being written off at a fixed rate over 5 years on the cost of the asset.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 7,508 33,684 41,192
Additions - 11,580 11,580
At 31 March 2024 7,508 45,189 52,697
Depreciation
At 1 April 2023 5,006 15,729 20,735
Charge for the year 2,502 12,560 15,062
At 31 March 2024 7,508 28,289 35,797
Net book value
At 31 March 2024 - 16,900 16,900
At 31 March 2023 2,502 17,955 20,457
5 Debtors 2024 2023
£ £
Trade debtors 1,258,241 1,064,426
Other debtors 97,308 95,046
1,355,549 1,159,472
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 86,642 18,502
Taxation and social security costs 855,230 658,806
Other creditors 4,592,542 5,794,607
5,534,414 6,471,915
7 Other information
Referral Management Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
61a King Street
Knutfords
Cheshire
WA16 6DX
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