REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
RE-LEASED SOFTWARE COMPANY UK LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
RE-LEASED SOFTWARE COMPANY UK LIMITED |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RE-LEASED SOFTWARE COMPANY UK LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
BALANCE SHEET |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital contribution reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
BALANCE SHEET - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Re-leased Software Company UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Revenue is recognised to the extent that is is probable 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. |
Revenue from a contract to provide services is recognised in the period in which services are provided. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are initially recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Share based payments |
The company provides share based payment arrangements to certain employees. |
The arrangements are measured at fair value at the date of grant. The fair value is based on Black Scholes model and expensed on a graded vesting basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares that will vest. |
Those share options forfeited are de-recognised through the income statement. |
Basic financial intruments |
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by section 12 of FRS 102. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors & accruals |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Within one year |
Between one and five years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary Shares | £1 | 1 | 1 |
RE-LEASED SOFTWARE COMPANY UK LIMITED (REGISTERED NUMBER: 09921344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023: |
31.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
10. | ULTIMATE CONTROLLING PARTY |
Re-Leased Software Company Limited (NZ), whose registered office is 111 Wellesley Street West Auckland 1010, is the ultimate controlling company and prepares consolidated financial statements which include the results and financial position of Re-Leased Software Company UK Limited. Consolidated accounts are available at the registered office address. |
11. | SHARE-BASED PAYMENT TRANSACTIONS |
Certain employees have been granted share options in Re-Leased Software Company Ltd (NZ company) during their employment with the company. The majority of the share options vest over a 4 year period with 25% being subject to an initial 12 month cliff and the remaining 75% vesting monthly over the following 36 months in equal installments, subject to the employees' continuing employment with the employer. |
The options are equity settled. The share option charge is being determined by using the Black-Scholes valuation methodology to assess the fair market value at the date of grant and the charge is being released to the statement of profit or loss in line with the graded vesting approach. |
The share option charge for the current year is £36,898 (2023:£43,661). |