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REGISTERED NUMBER: NI031581 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Retain Solutions Ltd

Retain Solutions Ltd (Registered number: NI031581)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Retain Solutions Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B Murphy
Mr C McGurk
Mr D Marrs





REGISTERED OFFICE: 79 Rosetta Road
Belfast
Co. Antrim
BT6 0LR





REGISTERED NUMBER: NI031581 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

Retain Solutions Ltd (Registered number: NI031581)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,595 24,488

CURRENT ASSETS
Stocks 165,420 165,420
Debtors 5 424,251 321,914
Cash at bank 312,592 164,156
902,263 651,490
CREDITORS
Amounts falling due within one year 6 598,807 337,782
NET CURRENT ASSETS 303,456 313,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,051

338,196

CREDITORS
Amounts falling due after more than one
year

7

(15,953

)

(25,806

)

PROVISIONS FOR LIABILITIES (6,383 ) (4,653 )
NET ASSETS 314,715 307,737

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 313,715 306,737
314,715 307,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Retain Solutions Ltd (Registered number: NI031581)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr B Murphy - Director


Retain Solutions Ltd (Registered number: NI031581)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Retain Solutions Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Retain Solutions Ltd (Registered number: NI031581)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 73,540
Additions 18,414
At 31 March 2024 91,954
DEPRECIATION
At 1 April 2023 49,052
Charge for year 9,307
At 31 March 2024 58,359
NET BOOK VALUE
At 31 March 2024 33,595
At 31 March 2023 24,488

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 228,433 148,829
Other debtors 195,818 173,085
424,251 321,914

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,663 10,663
Trade creditors 392,429 137,623
Taxation and social security 34,508 23,386
Other creditors 161,207 166,110
598,807 337,782

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 15,953 25,806