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REGISTERED NUMBER: 09921344 (England and Wales)













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: T P Wallace
J P Wallace
S J Caulton





SECRETARY: S J Caulton





REGISTERED OFFICE: Level 4, Thavies Inn House
3-4 Holborn Circus
Mid Town
London
EC1N 2HA





REGISTERED NUMBER: 09921344 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered 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 27,523 29,717

CURRENT ASSETS
Debtors 5 1,615,867 1,255,111
Cash at bank 35,699 71,026
1,651,566 1,326,137
CREDITORS
Amounts falling due within one year 6 415,004 384,717
NET CURRENT ASSETS 1,236,562 941,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,264,085

971,137

CAPITAL AND RESERVES
Called up share capital 8 1 1
Capital contribution reserve 163,927 127,029
Retained earnings 1,100,157 844,107
SHAREHOLDERS' FUNDS 1,264,085 971,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 11 October 2024 and were signed on its behalf by:





S J Caulton - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 39 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 48,882
Additions 10,217
At 31 March 2024 59,099
DEPRECIATION
At 1 April 2023 19,165
Charge for year 12,411
At 31 March 2024 31,576
NET BOOK VALUE
At 31 March 2024 27,523
At 31 March 2023 29,717

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 25,456 20,867
Amounts owed by group undertakings 1,489,826 1,119,211
Other debtors 100,585 115,033
1,615,867 1,255,111

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 17,512 5,542
Trade creditors 9,023 78,871
Taxation and social security 186,515 124,624
Other creditors & accruals 201,954 175,680
415,004 384,717

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 50,000 100,000
Between one and five years - 50,000
50,000 150,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 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
£    £   
S J Caulton
Balance outstanding at start of year 3,820 -
Amounts advanced - 5,093
Amounts repaid (3,820 ) (1,273 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,820

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).