Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseFinancial Services2934falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06780168 2024-01-01 2024-12-31 06780168 2023-01-01 2023-12-31 06780168 2024-12-31 06780168 2023-12-31 06780168 c:Director2 2024-01-01 2024-12-31 06780168 d:FurnitureFittings 2024-01-01 2024-12-31 06780168 d:FurnitureFittings 2024-12-31 06780168 d:FurnitureFittings 2023-12-31 06780168 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06780168 d:OfficeEquipment 2024-01-01 2024-12-31 06780168 d:OfficeEquipment 2024-12-31 06780168 d:OfficeEquipment 2023-12-31 06780168 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06780168 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06780168 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 06780168 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-01-01 2024-12-31 06780168 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-12-31 06780168 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 06780168 d:CurrentFinancialInstruments 2024-12-31 06780168 d:CurrentFinancialInstruments 2023-12-31 06780168 d:Non-currentFinancialInstruments 2024-12-31 06780168 d:Non-currentFinancialInstruments 2023-12-31 06780168 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06780168 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06780168 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 06780168 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06780168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 06780168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06780168 d:ShareCapital 2024-12-31 06780168 d:ShareCapital 2023-12-31 06780168 d:RetainedEarningsAccumulatedLosses 2024-12-31 06780168 d:RetainedEarningsAccumulatedLosses 2023-12-31 06780168 c:FRS102 2024-01-01 2024-12-31 06780168 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06780168 c:FullAccounts 2024-01-01 2024-12-31 06780168 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06780168 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2024-01-01 2024-12-31 06780168 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 06780168












RETAIL FINANCE INTELLIGENCE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 DECEMBER 2024



















 


img7d1c.png
01483 755 399
hamlyns.com

 
RETAIL FINANCE INTELLIGENCE LIMITED
REGISTERED NUMBER: 06780168

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,002

Tangible assets
 5 
13,608
27,510

  
13,608
30,512

Current assets
  

Debtors: amounts falling due within one year
 6 
15,349,955
13,454,104

Cash at bank and in hand
 7 
29,741
95,120

  
15,379,696
13,549,224

Creditors: amounts falling due within one year
 8 
(22,132,416)
(19,356,026)

Net current liabilities
  
 
 
(6,752,720)
 
 
(5,806,802)

Total assets less current liabilities
  
(6,739,112)
(5,776,290)

Creditors: amounts falling due after more than one year
 9 
(4,166)
(14,304)

  

Net liabilities
  
(6,743,278)
(5,790,594)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(6,743,280)
(5,790,596)

  
(6,743,278)
(5,790,594)


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 comprehensive income 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 2 April 2025.



Page 1

 
RETAIL FINANCE INTELLIGENCE LIMITED
REGISTERED NUMBER: 06780168

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


___________________________
J Lok
Director

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

Page 2

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Retail Finance Intelligence Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address is as below: 
Company number: 06780168
Registered office: 3rd Floor 1 Ashley Road, Altrincham, Cheshire, United Kingdom, WA14 2DT 

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

Going concern

The directors have considered the implications of the company’s financial performance and position.  The company is a wholly-owned subsidiary of a multi-national group of companies (the Group). The company incurs a disproportionate amount of the Group costs compared to the income generated in the UK.  While the cost is recharged to other Group companies it will continue to generate losses for the foreseeable future.
The parent company is committed to supporting the company from a financial perspective and therefore the directors consider it appropriate to prepare these financial statements on a going concern basis.

 
2.3

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.

Page 3

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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:

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.

 
2.5

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.

 
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 balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.

 Amortisation is provided on the following bases:

Computer Software
-
33%
Straight-line
Website
-
40%
Straight-line

Page 4

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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:

Fixtures and fittings
-
20%
straight-line
Office equipment
-
33%
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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 29 (2023 - 34).

Page 5

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Website

£



Cost


At 1 January 2024
47,411



At 31 December 2024

47,411



Amortisation


At 1 January 2024
44,409


Charge for the year on owned assets
3,002



At 31 December 2024

47,411



Net book value



At 31 December 2024
-



At 31 December 2023
3,003



Page 6

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
3,167
121,360
124,527


Additions
-
5,768
5,768


Disposals
-
(10,680)
(10,680)



At 31 December 2024

3,167
116,448
119,615



Depreciation


At 1 January 2024
1,161
95,856
97,017


Charge for the year on owned assets
633
17,267
17,900


Disposals
-
(8,910)
(8,910)



At 31 December 2024

1,794
104,213
106,007



Net book value



At 31 December 2024
1,373
12,235
13,608



At 31 December 2023
2,006
25,504
27,510


6.


Debtors

2024
2023
£
£


Trade debtors
-
77,389

Amounts owed by group undertakings
15,196,305
13,041,164

Other debtors
32,699
61,069

Prepayments and accrued income
120,951
274,482

15,349,955
13,454,104



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
29,741
95,120

29,741
95,120


Page 7

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
10,648

Trade creditors
121,626
265,675

Amounts owed to group undertakings
19,566,257
16,762,136

Other taxation and social security
100,425
114,693

Other creditors
146,591
113,801

Accruals and deferred income
2,186,869
2,089,073

22,132,416
19,356,026



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,166
14,304

4,166
14,304



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,648
10,648


10,648
10,648


Amounts falling due 2-5 years

Bank loans
4,166
14,304


4,166
14,304


14,814
24,952


Page 8

 
RETAIL FINANCE INTELLIGENCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Related party transactions

At the balance sheet date the company owed £19,566,256 (2023: £16,762,136) to companies under common control which is included in creditors. Additionally, the company was owed £15,196,305 (2023: £13,041,164 from companies under common control which is included within debtors.


Page 9