Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01falseCommunity Pharmacy3433truetrue 02463959 2023-06-01 2024-05-31 02463959 2022-06-01 2023-05-31 02463959 2024-05-31 02463959 2023-05-31 02463959 c:Director1 2023-06-01 2024-05-31 02463959 d:Buildings 2023-06-01 2024-05-31 02463959 d:Buildings 2024-05-31 02463959 d:Buildings 2023-05-31 02463959 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02463959 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 02463959 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 02463959 d:Buildings d:ShortLeaseholdAssets 2024-05-31 02463959 d:Buildings d:ShortLeaseholdAssets 2023-05-31 02463959 d:PlantMachinery 2023-06-01 2024-05-31 02463959 d:PlantMachinery 2024-05-31 02463959 d:PlantMachinery 2023-05-31 02463959 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02463959 d:MotorVehicles 2023-06-01 2024-05-31 02463959 d:MotorVehicles 2024-05-31 02463959 d:MotorVehicles 2023-05-31 02463959 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02463959 d:FurnitureFittings 2023-06-01 2024-05-31 02463959 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02463959 d:Goodwill 2024-05-31 02463959 d:Goodwill 2023-05-31 02463959 d:CurrentFinancialInstruments 2024-05-31 02463959 d:CurrentFinancialInstruments 2023-05-31 02463959 d:CurrentFinancialInstruments 2 2024-05-31 02463959 d:CurrentFinancialInstruments 2 2023-05-31 02463959 d:Non-currentFinancialInstruments 2024-05-31 02463959 d:Non-currentFinancialInstruments 2023-05-31 02463959 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02463959 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02463959 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 02463959 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02463959 d:ShareCapital 2024-05-31 02463959 d:ShareCapital 2023-05-31 02463959 d:RetainedEarningsAccumulatedLosses 2024-05-31 02463959 d:RetainedEarningsAccumulatedLosses 2023-05-31 02463959 c:FRS102 2023-06-01 2024-05-31 02463959 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02463959 c:FullAccounts 2023-06-01 2024-05-31 02463959 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02463959 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 02463959










EXPERTRETURN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
EXPERTRETURN LIMITED
REGISTERED NUMBER: 02463959

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
164,998
184,891

  
164,998
184,891

Current assets
  

Stocks
  
119,568
118,502

Debtors: amounts falling due within one year
 6 
590,967
613,399

Cash at bank and in hand
  
339,567
346,602

  
1,050,102
1,078,503

Creditors: amounts falling due within one year
 7 
(302,075)
(327,479)

Net current assets
  
 
 
748,027
 
 
751,024

Total assets less current liabilities
  
913,025
935,915

Creditors: amounts falling due after more than one year
 8 
(17,046)
(27,500)

Provisions for liabilities
  

Deferred tax
  
(12,549)
(14,822)

  
 
 
(12,549)
 
 
(14,822)

Net assets
  
883,430
893,593


Capital and reserves
  

Called up share capital 
  
105
105

Profit and loss account
  
883,325
893,488

  
883,430
893,593


Page 1

 
EXPERTRETURN LIMITED
REGISTERED NUMBER: 02463959
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 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 income statement 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 by: 




Mr A Mangal
Director

Date: 30 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Expertreturn Limited is a private company, limited by share capital, incorporated in England & Wales under registration number 02463959. The address of the registered office is situated at Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.

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 following principal accounting policies have been applied:

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

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.

 
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.

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

Depreciation is provided on the following basis:

S/Term Leasehold property
-
Over the term of the lease
Plant & machinery
-
20% reducing balance
Delivery vans
-
25% reducing balance
Fixtures & fittings
-
15% reducing balance

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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

Page 4

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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 5

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 33).

Page 6

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
283,640



At 31 May 2024

283,640



Amortisation


At 1 June 2023
283,640



At 31 May 2024

283,640



Net book value



At 31 May 2024
-



At 31 May 2023
-



Page 7

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Freehold property
S/Term Leasehold property
Fixtures & fittings
Delivery vans
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
81,456
98,614
466,687
51,578
698,335


Additions
-
-
1,063
-
1,063



At 31 May 2024

81,456
98,614
467,750
51,578
699,398



Depreciation


At 1 June 2023
-
80,861
383,426
49,155
513,442


Charge for the year on owned assets
-
6,574
13,778
606
20,958



At 31 May 2024

-
87,435
397,204
49,761
534,400



Net book value



At 31 May 2024
81,456
11,179
70,546
1,817
164,998



At 31 May 2023
81,456
17,753
83,261
2,423
184,893


6.


Debtors

2024
2023
£
£


Trade debtors
186,911
253,131

VAT repayable
24,476
25,102

Section 458 tax recoverable
95,827
85,597

Directors' loan account
270,278
240,237

Prepayments and accrued income
13,475
9,332

590,967
613,399


Page 8

 
EXPERTRETURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,699
10,000

Trade creditors
264,744
268,142

Corporation and Section 455 tax
22,445
45,641

Pension payable
1,200
1,008

Other taxation and social security
2,987
2,688

302,075
327,479


Bank loan of £10,699 (2023 - £10,000) is unsecured bounce back loan payable within one year. 


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
17,046
27,500

17,046
27,500


Bank loan of £17,046 (2023 - £27,500) is unsecured bounce back loan payable after more than one year.


9.


Controlling party

The company was under the control of the directors Mr A Mangal (33.33% share), Mrs U Mangal (33.34% share) and Mrs A A Rikhi (33.33% share), by virtue of the fact that between them they own 100% of the issued share capital.

 
Page 9