Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-10-01falseNo description of principal activity22falsetruefalse 03100058 2023-10-01 2024-09-30 03100058 2022-10-01 2023-09-30 03100058 2024-09-30 03100058 2023-09-30 03100058 c:Director1 2023-10-01 2024-09-30 03100058 d:PlantMachinery 2023-10-01 2024-09-30 03100058 d:FurnitureFittings 2024-09-30 03100058 d:FurnitureFittings 2023-09-30 03100058 d:ComputerEquipment 2024-09-30 03100058 d:ComputerEquipment 2023-09-30 03100058 d:CurrentFinancialInstruments 2024-09-30 03100058 d:CurrentFinancialInstruments 2023-09-30 03100058 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03100058 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03100058 d:ShareCapital 2024-09-30 03100058 d:ShareCapital 2023-09-30 03100058 d:RetainedEarningsAccumulatedLosses 2024-09-30 03100058 d:RetainedEarningsAccumulatedLosses 2023-09-30 03100058 c:FRS102 2023-10-01 2024-09-30 03100058 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03100058 c:FullAccounts 2023-10-01 2024-09-30 03100058 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03100058 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 03100058










RATECOST LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
RATECOST LIMITED
REGISTERED NUMBER: 03100058

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 6 
14,254
14,255

Cash at bank and in hand
  
44
108

  
14,298
14,363

Creditors: amounts falling due within one year
 7 
(5,139)
(5,555)

Net current assets
  
 
 
9,159
 
 
8,808

Total assets less current liabilities
  
9,160
8,809

  

Net assets
  
9,160
8,809


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
9,158
8,807

  
9,160
8,809


Page 1

 
RATECOST LIMITED
REGISTERED NUMBER: 03100058
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 profit and loss account 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 17 February 2025.




Patricia Osowicz
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Ratecost Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found below:
Registered number is 03100058
Address is 28 Huntington Close, West Cross, Swansea, SA3 5AL
The presentation currency of the financial statements is the Pound Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest (£).

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.

 
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

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Taxation

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 balance sheet date in the countries where the Company operates and generates income.


 
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.

Depreciation is provided on the following basis:

Plant and machinery etc
-
33% on cost and 10% on cost

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

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price 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.
Basic financial liabilties, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Page 4

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
2,433
1,049
3,482



At 30 September 2024

2,433
1,049
3,482



Depreciation


At 1 October 2023
2,433
1,048
3,481



At 30 September 2024

2,433
1,048
3,481



Net book value



At 30 September 2024
-
1
1



At 30 September 2023
-
1
1


6.


Debtors

2024
2023
£
£


Other debtors
14,254
14,255

14,254
14,255



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13
13

Other taxation and social security
630
585

Other creditors
3,174
3,804

Accruals and deferred income
1,322
1,153

5,139
5,555


Page 6

 
RATECOST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Related party disclosures

The company director, Mrs J I Wellington, is a trustee and beneficiary of Ratecost Limited Executive Pension Trust. The following related party transactions arose during the financial year:-
The company recharged managerial services fees of £4,500 (2023 - £5,000) to Ratecost Limited Executive Pension Trust.
Included in other debtors is an amount of £14,255 (2023 - £14,255) due from Ratecost Limited Executive Pension Trust. There are no fixed repayment terms and the balance is interest free.

 
Page 7