Company registration number 11956415 (England and Wales)
ROUND GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ROUND GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ROUND GROUP LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
4
429,650
217,938
Tangible assets
5
5,528
7,686
Investments
6
1,000
1,000
436,178
226,624
Current assets
Debtors
7
1,599,644
954,279
Cash at bank and in hand
355,523
281,853
1,955,167
1,236,132
Creditors: amounts falling due within one year
8
(1,184,976)
(803,810)
Net current assets
770,191
432,322
Total assets less current liabilities
1,206,369
658,946
Creditors: amounts falling due after more than one year
9
(424,614)
(220,622)
Provisions for liabilities
(82,280)
(42,869)
Net assets
699,475
395,455
Capital and reserves
Called up share capital
10
1,000
1,000
Profit and loss reserves
698,475
394,455
Total equity
699,475
395,455

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ROUND GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
A J Sayer
Director
Company registration number 11956415 (England and Wales)
ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Round Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 21, Second Floor, 6/8 Underwood Street, London, N1 7JQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rendering of services in the normal course of business, and is shown net of discounts and VAT.

 

Revenue arises from the provision of digital marketing solutions specifically for influencer marketing, paid social campaigns, and the provision of associated technology services.

 

Influencer marketing and campaign revenue is recognised as campaigns are delivered by reference to the stage of completion of the campaign at the end of the reporting period.

 

Technology services are provided via retainer and are recognised evenly over the period of engagement.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
20% reducing balance
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” 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.

Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Change in accounting policy

The company has made a voluntary change to the research and development accounting policy in the year and has restated the comparatives to show the impact on the prior year of this change. This change in the accounting policy reflects more reliable and relevant financial information as the expenditure is creating future benefits.

 

Further information on the impact of this adjustment is given in note 14.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
21
14
4
Intangible fixed assets
Development costs
£
Cost
At 1 May 2023
236,555
Additions - internally developed
275,503
At 30 April 2024
512,058
Amortisation and impairment
At 1 May 2023
18,617
Amortisation charged for the year
63,791
At 30 April 2024
82,408
Carrying amount
At 30 April 2024
429,650
At 30 April 2023
217,938
ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2023
11,745
Additions
963
Disposals
(1,705)
At 30 April 2024
11,003
Depreciation and impairment
At 1 May 2023
4,059
Depreciation charged in the year
1,842
Eliminated in respect of disposals
(426)
At 30 April 2024
5,475
Carrying amount
At 30 April 2024
5,528
At 30 April 2023
7,686
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,000
1,000
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,026,702
452,499
Corporation tax recoverable
19,531
19,531
Amounts owed by group undertakings
28,794
217,254
Other debtors
524,617
264,995
1,599,644
954,279
ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
133,010
79,378
Trade creditors
244,573
235,022
Corporation tax
67,060
110,608
Other taxation and social security
186,967
246,434
Other creditors
553,366
132,368
1,184,976
803,810

Included in bank loans of are amounts of £99,003 (2023: £nil) which are secured by fixed and floating charges over the company's assets.

9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
424,614
220,622

Included in bank loans of are amounts of £118,355 (2023: £nil) which are secured by fixed and floating charges over the company's assets.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £0.001 (2023 - £1) each
1,000,000
825
1,000
825
Orindary A shares of £1 each
0
175
-
0
175
1,000,000
1,000
1,000
1,000

During the year ended 2024 the client designated their Ordinary A £1 shares to Ordinary shares. The Ordinary shares were subsequently subdivided into 1,000,000 at a nominal value of £0.001.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
11,000
16,500
11,000
16,500
ROUND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
12
Related party transactions

Transactions entered into between two or more wholly owned members of a group have not been disclosed in accordance with FRS 102 33.1A.

13
Directors' transactions

At the balance sheet date the directors owed the company £198,902 (2023 - £57,869) in relation to loans that were provided to them by the company. Interest of £3,139 (2023 - £749) was charged at a rate of 2.25% on these loans during the year.

14
Prior period adjustment
Reconciliation of changes in equity
1 May
30 April
2022
2023
Notes
£
£
Adjustments to prior year
Capitalisation of development costs
3
-
236,555
Amortisation of development costs
3
-
(18,617)
Deferred tax on development costs
-
(42,869)
Total adjustments
-
175,069
Equity as previously reported
75,933
220,386
Equity as adjusted
75,933
395,455
Analysis of the effect upon equity
Profit and loss reserves
-
175,069
Reconciliation of changes in profit for the previous financial period
2023
Notes
£
Adjustments to prior year
Capitalisation of development costs
3
236,555
Amortisation of development costs
3
(18,617)
Deferred tax on development costs
(42,869)
Total adjustments
175,069
Profit as previously reported
216,453
Profit as adjusted
391,522
Notes to reconciliation

The client has elected to capitalise the development costs as they believe this provides a more true and fair financial statements. This has been applied retrospectively to the costs in the prior period.

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