Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseIT Consultancy97truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03013824 2023-04-01 2024-03-31 03013824 2022-04-01 2023-03-31 03013824 2024-03-31 03013824 2023-03-31 03013824 2022-04-01 03013824 c:Director1 2023-04-01 2024-03-31 03013824 d:PlantMachinery 2023-04-01 2024-03-31 03013824 d:PlantMachinery 2024-03-31 03013824 d:PlantMachinery 2023-03-31 03013824 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03013824 d:CurrentFinancialInstruments 2024-03-31 03013824 d:CurrentFinancialInstruments 2023-03-31 03013824 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03013824 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03013824 d:ShareCapital 2024-03-31 03013824 d:ShareCapital 2023-03-31 03013824 d:RetainedEarningsAccumulatedLosses 2024-03-31 03013824 d:RetainedEarningsAccumulatedLosses 2023-03-31 03013824 c:OrdinaryShareClass1 2023-04-01 2024-03-31 03013824 c:OrdinaryShareClass1 2024-03-31 03013824 c:OrdinaryShareClass2 2023-04-01 2024-03-31 03013824 c:OrdinaryShareClass2 2024-03-31 03013824 c:OrdinaryShareClass3 2023-04-01 2024-03-31 03013824 c:OrdinaryShareClass3 2024-03-31 03013824 c:FRS102 2023-04-01 2024-03-31 03013824 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03013824 c:FullAccounts 2023-04-01 2024-03-31 03013824 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03013824 d:Subsidiary1 2023-04-01 2024-03-31 03013824 d:Subsidiary1 1 2023-04-01 2024-03-31 03013824 2 2023-04-01 2024-03-31 03013824 6 2023-04-01 2024-03-31 03013824 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03013824 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03013824 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03013824









REDBOURN BUSINESS SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
REDBOURN BUSINESS SYSTEMS LIMITED
REGISTERED NUMBER: 03013824

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
42,399
54,678

Investments
 5 
3
41,724

  
42,402
96,402

Current assets
  

Debtors: amounts falling due within one year
 6 
339,352
133,762

Cash at bank and in hand
  
5,630,557
5,178,118

  
5,969,909
5,311,880

Creditors: amounts falling due within one year
 7 
(800,865)
(728,311)

Net current assets
  
 
 
5,169,044
 
 
4,583,569

Total assets less current liabilities
  
5,211,446
4,679,971

Provisions for liabilities
  

Deferred tax
  
(10,600)
(13,670)

  
 
 
(10,600)
 
 
(13,670)

Net assets
  
5,200,846
4,666,301


Capital and reserves
  

Called up share capital 
 9 
10,202
10,202

Profit and loss account
  
5,190,644
4,656,099

  
5,200,846
4,666,301


Page 1

 
REDBOURN BUSINESS SYSTEMS LIMITED
REGISTERED NUMBER: 03013824
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 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 
on
 5 September 2024.



S A Cast Esq
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Redbourn Business Systems Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 26 Ver Road, Redbourn, St Albans, Hertfordshire, AL3 7PE.
The principal activity of the company during the year has been that of IT consultancy.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

Page 3

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

Interest income is recognised in Statement of comprehensive income using the effective interest method.

 
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.

Page 4

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
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:.


Computer 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.

Page 5

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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 6

 
REDBOURN BUSINESS SYSTEMS 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 9 (2023 - 7).


4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2023
106,735


Additions
1,630



At 31 March 2024

108,365



Depreciation


At 1 April 2023
52,057


Charge for the year on owned assets
13,909



At 31 March 2024

65,966



Net book value



At 31 March 2024
42,399



At 31 March 2023
54,678

Page 7

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
41,724


Amounts written off
(41,721)



At 31 March 2024
3






Net book value



At 31 March 2024
3



At 31 March 2023
41,724


Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

AdvantageNFP Limited
Ordinary
100%


6.


Debtors

2024
2023
£
£


Trade debtors
314,073
115,768

Other debtors and Prepayments
25,279
17,994

339,352
133,762


Page 8

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
37,664
47,521

Corporation tax
122,569
81,020

Other taxation and social security
79,138
96,416

Other creditors and accruals
561,494
503,354

800,865
728,311



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(13,670)
-


Credited/(charged) to the profit or loss
3,070
(13,670)



At end of year
(10,600)
(13,670)

2024
2023
£
£


Accelerated capital allowances
(10,600)
(13,670)

(10,600)
(13,670)

Page 9

 
REDBOURN BUSINESS SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,002 Ordinary shares of £1.00 each
10,002
10,002
100 B Ordinary shares of £1.00 each
100
100
100 C Ordinary shares of £1.00 each
100
100

10,202

10,202



10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £127,601 (2023 - £85,208). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 10