Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01false3329truetrue 11313999 2023-05-01 2024-04-30 11313999 2022-05-01 2023-04-30 11313999 2024-04-30 11313999 2023-04-30 11313999 c:Director1 2023-05-01 2024-04-30 11313999 d:MotorVehicles 2023-05-01 2024-04-30 11313999 d:MotorVehicles 2024-04-30 11313999 d:MotorVehicles 2023-04-30 11313999 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11313999 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 11313999 d:FurnitureFittings 2023-05-01 2024-04-30 11313999 d:FurnitureFittings 2024-04-30 11313999 d:FurnitureFittings 2023-04-30 11313999 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11313999 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 11313999 d:ComputerEquipment 2023-05-01 2024-04-30 11313999 d:ComputerEquipment 2024-04-30 11313999 d:ComputerEquipment 2023-04-30 11313999 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11313999 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 11313999 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11313999 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 11313999 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 11313999 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 11313999 d:CurrentFinancialInstruments 2024-04-30 11313999 d:CurrentFinancialInstruments 2023-04-30 11313999 d:Non-currentFinancialInstruments 2024-04-30 11313999 d:Non-currentFinancialInstruments 2023-04-30 11313999 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11313999 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11313999 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 11313999 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 11313999 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 11313999 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 11313999 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 11313999 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 11313999 d:ShareCapital 2024-04-30 11313999 d:ShareCapital 2023-04-30 11313999 d:SharePremium 2024-04-30 11313999 d:SharePremium 2023-04-30 11313999 d:OtherMiscellaneousReserve 2024-04-30 11313999 d:OtherMiscellaneousReserve 2023-04-30 11313999 d:RetainedEarningsAccumulatedLosses 2024-04-30 11313999 d:RetainedEarningsAccumulatedLosses 2023-04-30 11313999 c:OrdinaryShareClass1 2023-05-01 2024-04-30 11313999 c:OrdinaryShareClass1 2024-04-30 11313999 c:OrdinaryShareClass1 2023-04-30 11313999 c:OrdinaryShareClass2 2023-05-01 2024-04-30 11313999 c:OrdinaryShareClass2 2024-04-30 11313999 c:FRS102 2023-05-01 2024-04-30 11313999 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11313999 c:FullAccounts 2023-05-01 2024-04-30 11313999 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11313999 d:ComputerSoftware 2024-04-30 11313999 d:ComputerSoftware 2023-04-30 11313999 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 11313999 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 11313999 d:OtherDeferredTax 2024-04-30 11313999 d:OtherDeferredTax 2023-04-30 11313999 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 11313999 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 11313999 2 2023-05-01 2024-04-30 11313999 d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 11313999 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 11313999 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 11313999 d:LeasedAssetsHeldAsLessee 2024-04-30 11313999 d:LeasedAssetsHeldAsLessee 2023-04-30 11313999 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-05-01 2024-04-30 11313999 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 11313999 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11313999










RMS EVENTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
RMS EVENTS LTD
REGISTERED NUMBER: 11313999

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,443,769
1,104,465

Tangible assets
 5 
55,286
38,394

  
1,499,055
1,142,859

Current assets
  

Stocks
  
5,858,519
2,657,986

Debtors: amounts falling due within one year
 6 
1,390,228
554,724

Cash at bank and in hand
  
3,291,208
1,182,159

  
10,539,955
4,394,869

Creditors: amounts falling due within one year
 7 
(10,374,185)
(4,684,510)

Net current assets/(liabilities)
  
 
 
165,770
 
 
(289,641)

Total assets less current liabilities
  
1,664,825
853,218

Creditors: amounts falling due after more than one year
 8 
(16,324)
(30,920)

Provisions for liabilities
  

Deferred tax
 10 
(6,435)
(4,782)

  
 
 
(6,435)
 
 
(4,782)

Net assets
  
1,642,066
817,516

Page 1

 
RMS EVENTS LTD
REGISTERED NUMBER: 11313999
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 11 
284
217

Share premium account
  
11,424,956
4,001,867

Other reserves
  
1,625,000
2,325,070

Profit and loss account
  
(11,408,174)
(5,509,638)

  
1,642,066
817,516


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 31 January 2025.




................................................
Robin Matthew Sherry
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

RMS Events Limited is a private company limited by shares and incorporated in England and Wales, registration number 11313999. The registered office is 6-8 Greencoat Place, London, England, SW1P 1PL.

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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RMS EVENTS LTD
 
 
 
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:

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.


 
2.9

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.

Page 5

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Reducing Balance
Fixtures and fittings
-
20%
Straight Line
Computer equipment
-
20%
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.

 
2.11

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 weighted average 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.

 
2.12

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.

 
2.13

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.

 
2.14

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 6

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 29).


4.


Intangible assets




Brand Development
Website Development
Total

£
£
£



Cost


At 1 May 2023
9,500
1,379,614
1,389,114


Additions - internal
-
500,228
500,228



At 30 April 2024

9,500
1,879,842
1,889,342



Amortisation


At 1 May 2023
4,750
279,899
284,649


Charge for the year on owned assets
950
159,974
160,924



At 30 April 2024

5,700
439,873
445,573



Net book value



At 30 April 2024
3,800
1,439,969
1,443,769



At 30 April 2023
4,750
1,099,715
1,104,465



Page 7

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
22,100
2,437
34,628
59,165


Additions
-
564
31,527
32,091


Disposals
-
(1,912)
(7,622)
(9,534)



At 30 April 2024

22,100
1,089
58,533
81,722



Depreciation


At 1 May 2023
10,328
541
9,902
20,771


Charge for the year on owned assets
-
493
10,412
10,905


Charge for the year on financed assets
2,354
-
-
2,354


Disposals
-
(828)
(6,766)
(7,594)



At 30 April 2024

12,682
206
13,548
26,436



Net book value



At 30 April 2024
9,418
883
44,985
55,286



At 30 April 2023
11,772
1,896
24,726
38,394

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
9,418
11,772

9,418
11,772

Page 8

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
23,472

Other debtors
332,170
26,492

Prepayments and accrued income
821,299
238,340

Tax recoverable
236,759
266,420

1,390,228
554,724



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
11,430
11,149

Trade creditors
1,961,969
1,246,903

Corporation tax
86,388
3,329

Other taxation and social security
175,237
70,292

Obligations under finance lease and hire purchase contracts
3,506
3,236

Other creditors
77,081
282,743

Accruals and deferred income
8,058,574
3,066,858

10,374,185
4,684,510



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,087
24,517

Net obligations under finance leases and hire purchase contracts
3,237
6,403

16,324
30,920


Page 9

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,430
11,149


11,430
11,149

Amounts falling due 1-2 years

Bank loans
11,720
11,431


11,720
11,431

Amounts falling due 2-5 years

Bank loans
1,367
13,086


1,367
13,086


24,517
35,666


Page 10

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Deferred taxation




2024


£






At beginning of year
(4,782)


Charged to profit or loss
(1,653)



At end of year
(6,435)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(9,505)
(5,009)

Short term difference
3,070
227

(6,435)
(4,782)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



260,268 (2023 - 217,485) Ordinary Shares shares of £0.001 each
260.268
217.485
23,574 (2023 - ) Series A Shares shares of £0.001 each
23.574
-

283.842

217.485


The company has allotted 66,357 shares of £0.001 each during the period.


12.


Share-based payments

The Company has an Enterprise Management Incentive (EMI) Share Option Plan for certain members of Key Management Personnel on Ordinary Shares of £0.001.
At the start of the year, there were 10,258 options outstanding. During the year 4,711 options were granted vesting within 3 years from 1 May 2023 and 6,662 options were granted vesting within 3 years from 1 November 2023. During the year there were no options exercised. There were 459 options forfeited or lapsed in the year. At the end of the year there were 21,172 options remaining of which, 11,716 are exerciseable.
The costs relating to the fair value of these options are immaterial to the financial statements and therefore have not been recognised.

Page 11

 
RMS EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Prior year adjustment

The prior year has had £2,934,992 income deferred due to a correction in the recognition of income, and the related stock items have been restored causing a decrease in the cost of sales of £2,188,151. The net effect on the retained earnings of these adjustments is a £746,841 deficit in the financial year 2023. 


14.


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 entity to the fund and amounted to £55,076 (£43,672 - 2023). Contributions totalling £12,280 payable to the fund at the reporting date (£10,496 - 2023)  and included in creditors.


15.


Related party transactions

At the year end the director R Sherry owed £308,947 to the company (2023: £26,492 to the company).

Page 12