Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30752023-05-01falsedesign and installation of web sites and web-based software solutions67truefalsefalse 04232998 2023-05-01 2024-04-30 04232998 2022-05-01 2023-04-30 04232998 2024-04-30 04232998 2023-04-30 04232998 2022-05-01 04232998 1 2023-05-01 2024-04-30 04232998 1 2022-05-01 2023-04-30 04232998 4 2023-05-01 2024-04-30 04232998 4 2022-05-01 2023-04-30 04232998 d:CompanySecretary1 2023-05-01 2024-04-30 04232998 d:Director1 2023-05-01 2024-04-30 04232998 d:Director2 2023-05-01 2024-04-30 04232998 d:Director3 2023-05-01 2024-04-30 04232998 d:RegisteredOffice 2023-05-01 2024-04-30 04232998 e:Buildings 2023-05-01 2024-04-30 04232998 e:Buildings 2024-04-30 04232998 e:Buildings 2023-04-30 04232998 e:Buildings e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04232998 e:MotorVehicles 2023-05-01 2024-04-30 04232998 e:MotorVehicles 2024-04-30 04232998 e:MotorVehicles 2023-04-30 04232998 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04232998 e:FurnitureFittings 2023-05-01 2024-04-30 04232998 e:FurnitureFittings 2024-04-30 04232998 e:FurnitureFittings 2023-04-30 04232998 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04232998 e:ComputerEquipment 2023-05-01 2024-04-30 04232998 e:ComputerEquipment 2024-04-30 04232998 e:ComputerEquipment 2023-04-30 04232998 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04232998 e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04232998 e:CurrentFinancialInstruments 2024-04-30 04232998 e:CurrentFinancialInstruments 2023-04-30 04232998 e:CurrentFinancialInstruments e:WithinOneYear 2024-04-30 04232998 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-30 04232998 f:UnitedKingdom 2023-05-01 2024-04-30 04232998 f:UnitedKingdom 2022-05-01 2023-04-30 04232998 f:RestEuropeOutsideUK 2023-05-01 2024-04-30 04232998 f:RestEuropeOutsideUK 2022-05-01 2023-04-30 04232998 f:RestWorldOutsideUK 2023-05-01 2024-04-30 04232998 f:RestWorldOutsideUK 2022-05-01 2023-04-30 04232998 e:UKTax 2023-05-01 2024-04-30 04232998 e:UKTax 2022-05-01 2023-04-30 04232998 e:ShareCapital 2024-04-30 04232998 e:ShareCapital 2023-04-30 04232998 e:ShareCapital 2022-05-01 04232998 e:InvestmentPropertiesRevaluationReserve 2023-05-01 2024-04-30 04232998 e:InvestmentPropertiesRevaluationReserve 2024-04-30 04232998 e:InvestmentPropertiesRevaluationReserve 1 2023-05-01 2024-04-30 04232998 e:InvestmentPropertiesRevaluationReserve 2023-04-30 04232998 e:InvestmentPropertiesRevaluationReserve 2022-05-01 04232998 e:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 04232998 e:RetainedEarningsAccumulatedLosses 2024-04-30 04232998 e:RetainedEarningsAccumulatedLosses 1 2023-05-01 2024-04-30 04232998 e:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 04232998 e:RetainedEarningsAccumulatedLosses 2023-04-30 04232998 e:RetainedEarningsAccumulatedLosses 2022-05-01 04232998 d:FRS102 2023-05-01 2024-04-30 04232998 d:Audited 2023-05-01 2024-04-30 04232998 d:FullAccounts 2023-05-01 2024-04-30 04232998 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04232998 e:BetweenOneFiveYears 2024-04-30 04232998 e:BetweenOneFiveYears 2023-04-30 04232998 e:ShareCapital 1 2023-05-01 2024-04-30 04232998 e:AcceleratedTaxDepreciationDeferredTax 2024-04-30 04232998 e:AcceleratedTaxDepreciationDeferredTax 2023-04-30 04232998 e:OtherDeferredTax 2024-04-30 04232998 e:OtherDeferredTax 2023-04-30 04232998 g:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 04232998









REMARKABLE INTERNET LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
REMARKABLE INTERNET LIMITED
 
 
COMPANY INFORMATION


Directors
M West 
S Cart 
B J Brown 




Company secretary
N Sadler (appointed 7 August 2023)



Registered number
04232998



Registered office
Newstead House
Lake View Drive

Annesley

Nottinghamshire

NG15 0DT




Independent auditors
Barnett & Turner Accountants Limited
Chartered Accountants & Registered Auditor

Cromwell House

68 West Gate

Mansfield

Nottinghamshire

NG18 1RR





 
REMARKABLE INTERNET LIMITED
 

CONTENTS



Page
Strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 22


 
REMARKABLE INTERNET LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Introduction
 
The directors present their strategic report for the year ended 30 April 2024.

Business review
 
Remarkable Internet Limited is on a mission to become the most customisable e-commerce platform provider in the UK. This is made possible by the constantly evolving technology stack and incredibly talented team delivering the company's unique proposition.
While Shopify has emerged as the leading e-commerce platform in the UK and many tailored e-commerce providers have diminished or disappeared entirely, Remarkable Internet Limited continues to shine by offering retail clients a unique blend of dedicated service and cutting-edge technology that delivers results year-on-year. This combination not only accelerates clients' e-commerce sales, but also enhances their infastructure through custom developed warehouse management systems, ERP solutions and more, alongside the primary Remarkable e-commerce platform. 
The board is pleased with the company's continued growth which has been due to a combination of new business and expansion of long-standing enterprise client teams. The company continues to strengthen its internal teams to sustain the current level of growth and forecast further increase into 2025 and beyond.

Principal risks and uncertainties
 
A continuous review of business risks and uncertainties is carried out by management throughout the year. The main risks to the busiess are the knock-on effects of any general economic downturn in the industry sectors served by the company.

Financial key performance indicators
 
Over the past year, the company has experienced significant growth across the board despite challenging market conditions that have impacted on consumer spending.

ole399b.png

 


This report was approved by the board on 19 November 2024 and signed on its behalf.



M West
Director

Page 1

 
REMARKABLE INTERNET LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,858,569 (2023 - £1,677,123).

Dividends of £668,041 (2023: £382,877) were paid during the year.

Directors

The directors who served during the year were:

M West 
S Cart 
B J Brown 

Page 2

 
REMARKABLE INTERNET LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024

Future developments

In the coming year, the company will be focusing on the following priorities:

Continued pursuit of the latest e-commerce technologies and further strengthening of the core platform offering Remarkable Commerce Manager (RCM) with a particular focus on leveraging the latest AI capabilities.

Completion of the next phase of the warehouse management system development to include connectivity with automated warehousing and robotics.

Further extending the growing network of close partnerships with brands that compliment the technologies and approach offered by the company, to ultimately drive more growth and value for the customer base.

The company has built an incredibly solid foundation and is constantly innovating and finding new ways to help clients to grow. The future for the business continues to look very exciting.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the company since the year end.

Auditors

The auditorsBarnett & Turner Accountants Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 19 November 2024 and signed on its behalf.
 





M West
Director

Page 3

 
REMARKABLE INTERNET LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REMARKABLE INTERNET LIMITED
 

Opinion


We have audited the financial statements of Remarkable Internet Limited (the 'company') for the year ended 30 April 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice) applicable to smaller entities.


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
REMARKABLE INTERNET LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REMARKABLE INTERNET LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
REMARKABLE INTERNET LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REMARKABLE INTERNET LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

We enquired of management regarding the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.

We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, the Companies Act 2006 and current tax legislation.

We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
 
Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, particularly in relation to depreciation.

Testing key revenue lines, in particular cut-off, for evidence of management bias.

Performing a physical verification of key assets.

Obtaining third-party confirmation of material bank balances.

Reviewing documentation such as the company board minutes, correspondence with solicitors, for
Page 6

 
REMARKABLE INTERNET LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REMARKABLE INTERNET LIMITED (CONTINUED)


discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Jonathan Wilson FCA CTA (Senior statutory auditor)
  
for and on behalf of
Barnett & Turner Accountants Limited
 
Chartered Accountants
Registered Auditor
  
Cromwell House
68 West Gate
Mansfield
Nottinghamshire
NG18 1RR

19 November 2024
Page 7

 
REMARKABLE INTERNET LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
 4 
7,400,464
6,114,329

Cost of sales
  
(3,864,911)
(3,188,398)

Gross profit
  
3,535,553
2,925,931

Administrative expenses
  
(1,114,489)
(929,554)

Other operating income
 5 
103,961
106,119

Operating profit
  
2,525,025
2,102,496

Interest receivable and similar income
 10 
7,960
-

Interest payable and similar expenses
 11 
-
(12,107)

Unrealised surplus on revaluation of investments
  
61,194
-

Profit before tax
  
2,594,179
2,090,389

Tax on profit
 12 
(735,610)
(413,266)

Profit for the financial year
  
1,858,569
1,677,123

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 12 to 22 form part of these financial statements.

Page 8

 
REMARKABLE INTERNET LIMITED
REGISTERED NUMBER: 04232998

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 14 
1,395,125
1,422,434

Current assets
  

Debtors: amounts falling due within one year
 15 
1,857,238
1,595,570

Current asset investments
 16 
811,194
750,000

Cash at bank and in hand
 17 
3,248,125
1,889,696

  
5,916,557
4,235,266

Creditors: amounts falling due within one year
 18 
(1,550,155)
(1,115,557)

Net current assets
  
 
 
4,366,402
 
 
3,119,709

Total assets less current liabilities
  
5,761,527
4,542,143

Provisions for liabilities
  

Deferred tax
 19 
(86,001)
(57,145)

Net assets
  
5,675,526
4,484,998


Capital and reserves
  

Called up share capital 
  
2,421
2,421

Investment revaluation reserve
  
45,896
-

Profit and loss account
  
5,627,209
4,482,577

  
5,675,526
4,484,998


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 November 2024.




M West
Director

The notes on pages 12 to 22 form part of these financial statements.

Page 9

 
REMARKABLE INTERNET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Investment revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
2,421
-
3,188,331
3,190,752



Profit for the year
-
-
1,677,123
1,677,123

Dividends: Equity capital
-
-
(382,877)
(382,877)



At 1 May 2023
2,421
-
4,482,577
4,484,998



Profit for the year
-
-
1,858,569
1,858,569

Transfer to/from revaluation reserve
-
45,896
(45,896)
-

Dividends: Equity capital
-
-
(668,041)
(668,041)


At 30 April 2024
2,421
45,896
5,627,209
5,675,526


The notes on pages 12 to 22 form part of these financial statements.

Page 10

 
REMARKABLE INTERNET LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
£
£

Cash flows from operating activities

Operating profit
2,525,025
2,102,496

Adjustments for:

Depreciation of tangible assets
65,685
71,202

Loss/(profit) on disposal of tangible assets
2,125
(153)

(Increase) in debtors
(261,667)
(342,179)

Increase in creditors
460,834
217,079

Corporation tax (paid)
(732,992)
(290,445)

Net cash generated from operating activities

2,059,010
1,758,000


Cash flows from investing activities

Purchase of tangible fixed assets
(41,067)
(92,356)

Sale of tangible fixed assets
567
919

Purchase of short-term listed investments
-
(750,000)

Interest received
7,960
-

Net cash from investing activities

(32,540)
(841,437)

Cash flows from financing activities

Repayment of loans
-
(701,254)

Dividends paid
(668,041)
(383,170)

Interest paid
-
(12,107)

Net cash used in financing activities
(668,041)
(1,096,531)

Net increase/(decrease) in cash and cash equivalents
1,358,429
(179,968)

Cash and cash equivalents at beginning of year
1,889,696
2,069,664

Cash and cash equivalents at the end of year
3,248,125
1,889,696


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,248,125
1,889,696


The notes on pages 12 to 22 form part of these financial statements.

Page 11

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Remarkable Internet Limited is a private limited company incorporated and domiciled in England (registration number 04232998). Its registered office and principal place of business is situated at Newstead House, Lake View Drive, Annesley, Nottinghamshire NG15 0DT.
The principal activity of the company is the design and installation of web sites and web-based software solutions.

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 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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of signing the accounts there remains some uncertainty regarding the full econmic impact of the cost of living and wider geopolitical issues. The directors are aware that the company may be impacted in some way by general factors affecting the UK economy, however budgets show that the company is in a good position to react and adapt to future changes.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of preparation of the financial statements. 

Page 12

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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. 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.

 
2.4

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

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.

 
2.6

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.
Assets costing less than £250 are not capitalised and are treated as revenue expenditure.

Page 13

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% 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.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and
Page 14

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires the Directors to make significant judgements and estimates.  The items in the financial statements where these judgements and estimates have been made include:
Depreciation of tangible fixed assets
Determining the appropriate rate of depreciation of tangible fixed assets requires an estimation of the useful economic life and ultimate net realisable value.  The useful economic life is determined to be the period during which each asset will generate positive cash flows for the Company.
Valuations of investments
Investments are valued at market value at the balance sheet date. The value of listed investments is determined by reference to the quoted price for identical assets in an active market.

Page 15

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Turnover

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
7,336,920
6,049,708

Europe
59,865
60,630

USA
3,679
3,991

7,400,464
6,114,329



5.


Other operating income

2024
2023
£
£

Net rents receivable
103,961
103,119

Sundry income
-
3,000

103,961
106,119



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Other operating lease rentals
25,742
18,903


7.


Auditors' remuneration

During the year, the company obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
10,000
10,000
Page 16

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,826,075
2,380,957

Social security costs
290,811
239,388

Cost of defined contribution scheme
152,274
53,448

3,269,160
2,673,793


The average monthly number of employees, including directors, during the year was 75 (2023 - 67).


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
82,040
81,823

Company contributions to defined contribution pension schemes
91,299
1,299

173,339
83,122


During the year retirement benefits were accruing to 3 directors (2023 - 2) in respect of defined contribution pension schemes.


10.


Interest receivable

2024
2023
£
£


Other interest receivable
7,960
-


11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
-
12,296

Other interest payable
-
(189)

-
12,107

Page 17

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
706,754
402,784


Deferred tax


Origination and reversal of timing differences
28,856
10,482


Tax on profit
735,610
413,266

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,594,179
2,090,389


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19.5%)
648,545
407,626

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
26,451
2,841

Capital allowances for year in excess of depreciation
12,187
(7,539)

Book profit on chargeable assets
28,856
10,482

Changes in tax rates and other differences leading to an increase/(decrease) in the tax charge
19,571
(144)

Total tax charge for the year
735,610
413,266

Page 18

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Dividends

2024
2023
£
£


Dividends - Ordinary
383,723
98,635


Dividends - Ordinary B
76,528
76,528


Dividends - Ordinary C
131,262
131,186


Dividends - Ordinary D
76,528
76,528

668,041
382,877


14.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
1,193,853
188,694
47,989
178,982
1,609,518


Additions
21,440
-
981
18,646
41,067


Disposals
-
-
-
(27,593)
(27,593)



At 30 April 2024

1,215,293
188,694
48,970
170,035
1,622,992



Depreciation


At 1 May 2023
-
57,708
31,912
97,464
187,084


Charge for the year on owned assets
-
32,746
4,121
28,817
65,684


Disposals
-
-
-
(24,901)
(24,901)



At 30 April 2024

-
90,454
36,033
101,380
227,867



Net book value



At 30 April 2024
1,215,293
98,240
12,937
68,655
1,395,125



At 30 April 2023
1,193,853
130,986
16,077
81,518
1,422,434

Page 19

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


Debtors

2024
2023
£
£


Trade debtors
823,140
506,992

Other debtors
675,345
675,012

Prepayments and accrued income
358,753
413,566

1,857,238
1,595,570



16.


Current asset investments

2024
2023
£
£

Listed investments
811,194
750,000



17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,248,125
1,889,696



18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
80,754
84,305

Corporation tax
376,547
402,784

Other taxation and social security
309,687
236,788

Other creditors
294,166
230,691

Accruals and deferred income
489,001
160,989

1,550,155
1,115,557


Page 20

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

19.


Deferred taxation




2024


£






At beginning of year
57,145


Charged to profit or loss
28,856



At end of year
86,001

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
70,703
57,145

Revaluation surplus
15,298
-

86,001
57,145


20.


Reserves

Investment property revaluation reserve

This reserve was established to recognise all gains and losses arising from revaluations on investments, net of deferred tax.

Profit and loss account

Total comprehensive income for the year after dividends is retained and carried forward in the profit and loss account.


21.


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 £152,274 (2023 - £53,448).  Contributions totalling £102,978 (2023 - £21,726) were payable to the fund at the balance sheet date and are included in creditors.

Page 21

 
REMARKABLE INTERNET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

22.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Later than 1 year and not later than 5 years
69,319
93,156


23.


Transactions with directors

During the year there continued to be interest free loans to a director. £509,443 (2023 - £509,443) was outstanding at the balance sheet date in respect of these loans, included within other debtors. The maximum amount outstanding during the year was £509,443. These loans have no fixed repayment terms.


24.


Controlling party

M West holds the contolling interest in the company.

 
Page 22