Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32023-01-01falseNo description of principal activity7falsetruefalse 12347798 2023-01-01 2023-12-31 12347798 2022-01-01 2022-12-31 12347798 2023-12-31 12347798 2022-12-31 12347798 c:Director6 2023-01-01 2023-12-31 12347798 d:OfficeEquipment 2023-01-01 2023-12-31 12347798 d:OfficeEquipment 2023-12-31 12347798 d:OfficeEquipment 2022-12-31 12347798 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12347798 d:ComputerEquipment 2023-01-01 2023-12-31 12347798 d:ComputerEquipment 2023-12-31 12347798 d:ComputerEquipment 2022-12-31 12347798 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12347798 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12347798 d:CurrentFinancialInstruments 2023-12-31 12347798 d:CurrentFinancialInstruments 2022-12-31 12347798 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12347798 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12347798 d:ShareCapital 2023-12-31 12347798 d:ShareCapital 2022-12-31 12347798 d:SharePremium 2023-12-31 12347798 d:SharePremium 2022-12-31 12347798 d:RetainedEarningsAccumulatedLosses 2023-12-31 12347798 d:RetainedEarningsAccumulatedLosses 2022-12-31 12347798 c:FRS102 2023-01-01 2023-12-31 12347798 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12347798 c:FullAccounts 2023-01-01 2023-12-31 12347798 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12347798 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12347798









FINFARE REWARDS LTD (FORMERLY NETWORK B LTD)







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FINFARE REWARDS LTD
REGISTERED NUMBER: 12347798

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
12,238
162

  
12,238
162

Current assets
  

Debtors: amounts falling due within one year
 6 
372,524
91,929

Cash at bank and in hand
  
330,821
2,607

  
703,345
94,536

Creditors: amounts falling due within one year
 7 
(955,286)
(21,079)

Net current (liabilities)/assets
  
 
 
(251,941)
 
 
73,457

Total assets less current liabilities
  
(239,703)
73,619

  

Net (liabilities)/assets
  
(239,703)
73,619


Capital and reserves
  

Called up share capital 
  
2
2

Share premium account
  
358,286
358,286

Profit and loss account
  
(597,991)
(284,669)

  
(239,703)
73,619


Page 1

 
FINFARE REWARDS LTD
REGISTERED NUMBER: 12347798
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 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 income and retained earnings 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 2 October 2024.


S G Leslie-Miller
Director

Page 2

 
FINFARE REWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Finfare Rewards Ltd is a private limited by shares and registered in England and Wales. The address of its registered office is 16 St.John's Lane, London, England, EC1M 4BS.

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.

 
2.2

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.

 
2.3

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.

 
2.4

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

 
FINFARE REWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
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%
Computer equipment
-
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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
FINFARE REWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the reporting date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 3).






Page 5

 
FINFARE REWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
580
-
580


Additions
1,003
12,160
13,163



At 31 December 2023

1,583
12,160
13,743



Depreciation


At 1 January 2023
418
-
418


Charge for the year on owned assets
274
813
1,087



At 31 December 2023

692
813
1,505



Net book value



At 31 December 2023
891
11,347
12,238



At 31 December 2022
162
-
162


6.


Debtors

2023
2022
£
£


Trade debtors
238,195
85,436

Rent deposit
45,600
-

Prepayments
4,145
6,493

Accrued income
84,584
-

372,524
91,929


Page 6

 
FINFARE REWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,096
7,044

Amounts owed to group undertakings
776,183
-

Other taxation and social security
82,110
10,404

Other creditors
-
381

Accruals and deferred income
85,897
3,250

955,286
21,079


 
Page 7