Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3116142023-04-01falsefalseThe principal activity of the company during the year was that of Internet Booking Agents.trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03981568 2023-04-01 2024-03-31 03981568 2022-04-01 2023-03-31 03981568 2024-03-31 03981568 2023-03-31 03981568 2022-04-01 03981568 c:Director1 2023-04-01 2024-03-31 03981568 d:FurnitureFittings 2023-04-01 2024-03-31 03981568 d:FurnitureFittings 2024-03-31 03981568 d:FurnitureFittings 2023-03-31 03981568 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03981568 d:ComputerEquipment 2023-04-01 2024-03-31 03981568 d:ComputerEquipment 2024-03-31 03981568 d:ComputerEquipment 2023-03-31 03981568 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03981568 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03981568 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 03981568 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 03981568 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03981568 d:CurrentFinancialInstruments 2024-03-31 03981568 d:CurrentFinancialInstruments 2023-03-31 03981568 d:Non-currentFinancialInstruments 2024-03-31 03981568 d:Non-currentFinancialInstruments 2023-03-31 03981568 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03981568 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03981568 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03981568 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03981568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 03981568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03981568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 03981568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03981568 d:ShareCapital 2023-04-01 2024-03-31 03981568 d:ShareCapital 2024-03-31 03981568 d:ShareCapital 2022-04-01 2023-03-31 03981568 d:ShareCapital 2023-03-31 03981568 d:ShareCapital 2022-04-01 03981568 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 03981568 d:CapitalRedemptionReserve 2024-03-31 03981568 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 03981568 d:CapitalRedemptionReserve 2023-03-31 03981568 d:CapitalRedemptionReserve 2022-04-01 03981568 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03981568 d:RetainedEarningsAccumulatedLosses 2024-03-31 03981568 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 03981568 d:RetainedEarningsAccumulatedLosses 2023-03-31 03981568 d:RetainedEarningsAccumulatedLosses 2022-04-01 03981568 c:FRS102 2023-04-01 2024-03-31 03981568 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03981568 c:FullAccounts 2023-04-01 2024-03-31 03981568 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03981568 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 03981568 2 2023-04-01 2024-03-31 03981568 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 03981568 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03981568









RAM TINTO ASSOCIATES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RAM TINTO ASSOCIATES LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RAM TINTO ASSOCIATES LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ram Tinto Associates Limited for the year ended 31 March 2024 which comprise the Statement of Financial Position, the Statement of Changes in Equity 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Ram Tinto Associates Limited, as a body, in accordance with the terms of our engagement letter dated 13th December 2018Our work has been undertaken solely to prepare for your approval the financial statements of Ram Tinto Associates Limited and state those matters that we have agreed to state to the Board of Directors of Ram Tinto Associates Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ram Tinto Associates Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Ram Tinto Associates Limited 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 loss of Ram Tinto Associates Limited. You consider that Ram Tinto Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ram Tinto Associates Limited. 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.

  



White Hart Associates (London) Limited
 
Chartered Accountants and Statutory Auditors
  
2nd Floor, Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
23 August 2024
Page 1

 
RAM TINTO ASSOCIATES LTD
REGISTERED NUMBER: 03981568

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
213,975
135,299

Tangible assets
 5 
2,184
3,575

  
216,159
138,874

Current assets
  

Debtors: amounts falling due within one year
 6 
54,489
124,051

Cash at bank and in hand
 7 
893,665
1,109,228

  
948,154
1,233,279

Creditors: amounts falling due within one year
 8 
(192,516)
(270,311)

Net current assets
  
 
 
755,638
 
 
962,968

Total assets less current liabilities
  
971,797
1,101,842

Creditors: amounts falling due after more than one year
 9 
(64,810)
(140,000)

  

Net assets
  
906,987
961,842


Capital and reserves
  

Called up share capital 
  
1,110
1,110

Capital redemption reserve
  
890
890

Profit and loss account
  
904,987
959,842

  
906,987
961,842

Page 2

 
RAM TINTO ASSOCIATES LTD
REGISTERED NUMBER: 03981568
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the 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 on 23 August 2024.






Nikki Tinto
Director

The notes on pages 5 to 12 form part of these financial statements.
Page 3

 
RAM TINTO ASSOCIATES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
1,110
890
846,615
848,615


Comprehensive income for the year

Profit for the year
-
-
118,777
118,777
Total comprehensive income for the year
-
-
118,777
118,777


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(5,550)
(5,550)


Total transactions with owners
-
-
(5,550)
(5,550)



At 1 April 2023
1,110
890
959,842
961,842


Comprehensive income for the year

Loss for the year
-
-
(54,855)
(54,855)
Total comprehensive income for the year
-
-
(54,855)
(54,855)


Total transactions with owners
-
-
-
-


At 31 March 2024
1,110
890
904,987
906,987


The notes on pages 5 to 12 form part of these financial statements.
Page 4

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales. The registered office address is 23 Westfield Park, Bristol, BS6 6LT.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

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. Turnover represents the commission earned on all travel arrangements sold. Some elements of commission are recognised on the date of booking confirmed whilst others are recognised on date of departure.
 

Page 5

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 April 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.5

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 5 to 10 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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Software Development
-
12.5 %
Straight Line

  

Change in accounting policy

During the year, the company reviewed its accounting policies and determined that a change in the amortisation method for intangible assets. i.e. software development, was necessary to provide a more accurate reflection of their usage and economic benefits over time. Previously, the assets were amortised on a straight-line basis over 4 years (25% per annum). The company has now adopted a straight-line amortisation method over 8 year (12.5% per annum). The change in policy was made to better align the amortisation expense with the actual usage and expected useful lives of the software development costs. The revised method is considered to provide a more reliable and relevant representation of the financial position and performance of the company. 

 
2.12

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 7

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
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:

Fixtures and fittings
-
20%
Straight Line
Equipment
-
20%
Straight Line

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Admin Staff
16
14

Page 8

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Software Development

£



Cost


At 1 April 2023
1,956,973


Additions
125,722



At 31 March 2024

2,082,695



Amortisation


At 1 April 2023
1,821,674


Charge for the year on owned assets
47,046



At 31 March 2024

1,868,720



Net book value



At 31 March 2024
213,975



At 31 March 2023
135,299



Page 9

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
1,023
25,845
26,868



At 31 March 2024

1,023
25,845
26,868



Depreciation


At 1 April 2023
980
22,313
23,293


Charge for the year on owned assets
43
1,348
1,391



At 31 March 2024

1,023
23,661
24,684



Net book value



At 31 March 2024
-
2,184
2,184



At 31 March 2023
43
3,532
3,575


6.


Debtors

2024
2023
£
£


Trade debtors
5,065
40,052

Other debtors
35,135
69,062

Prepayments and accrued income
14,289
14,937

54,489
124,051



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
893,665
1,109,228

893,665
1,109,228


Page 10

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
33,714
48,000

Trade creditors
9,632
21,941

Corporation tax
-
14,710

Other taxation and social security
14,976
13,838

Other creditors
67,127
66,026

Accruals and deferred income
67,067
105,796

192,516
270,311



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
64,810
140,000

64,810
140,000


Page 11

 
RAM TINTO ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loan


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
33,714
48,000


33,714
48,000

Amounts falling due 1-2 years

Bank loan
33,714
48,000

Amounts falling due 2-5 years

Bank loan
31,096
92,000


98,524
188,000


The above bank loan is a Government backed Coronavirus Business Interruption Loan Support Scheme ('CBILS') loans. The loan from Santander is due to be repaid through 60 monthly instalments ending in February 2027. The applicable interest rate will be 3.8% over base rate. In addition to the 12 month capital repayment holiday, the loan benefits from a Business Interruption Payment ('BIP') made by the UK Government on behalf of the Company to cover interest arising on the CBILS loan for the first 12 months.


11.


Pension commitments

The Company operates a defined contributions 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 £30,433 (2023 - £24,574). Contributions totalling £Nil (2023 - £2,167) were payable to the fund at the reporting date.


12.


Charges

On 19 February 2021, there was a fixed and floating charge registered over all assets of the company in
favour of Santander UK  Plc registered at companies house.


13.


Controlling party

The ultimate controlling party is Nikki Tinto, a director of the company, by virtue of her majority of the issued share capital of the company.

 
Page 12