Caseware UK (AP4) 2024.0.164 2024.0.164 25false2023-04-01falseInformation technology consultancy activities30falsetrue 05934017 2023-04-01 2023-12-31 05934017 2022-04-01 2023-03-31 05934017 2023-12-31 05934017 2023-03-31 05934017 c:Director1 2023-04-01 2023-12-31 05934017 d:FurnitureFittings 2023-04-01 2023-12-31 05934017 d:FurnitureFittings 2023-12-31 05934017 d:FurnitureFittings 2023-03-31 05934017 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2023-12-31 05934017 d:OfficeEquipment 2023-04-01 2023-12-31 05934017 d:OfficeEquipment 2023-12-31 05934017 d:OfficeEquipment 2023-03-31 05934017 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2023-12-31 05934017 d:ComputerEquipment 2023-04-01 2023-12-31 05934017 d:ComputerEquipment 2023-12-31 05934017 d:ComputerEquipment 2023-03-31 05934017 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2023-12-31 05934017 d:OwnedOrFreeholdAssets 2023-04-01 2023-12-31 05934017 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2023-12-31 05934017 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 05934017 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 05934017 d:CurrentFinancialInstruments 2023-12-31 05934017 d:CurrentFinancialInstruments 2023-03-31 05934017 d:Non-currentFinancialInstruments 2023-12-31 05934017 d:Non-currentFinancialInstruments 2023-03-31 05934017 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05934017 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05934017 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05934017 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05934017 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 05934017 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 05934017 d:ShareCapital 2023-12-31 05934017 d:ShareCapital 2023-03-31 05934017 d:SharePremium 2023-04-01 2023-12-31 05934017 d:SharePremium 2023-12-31 05934017 d:SharePremium 2023-03-31 05934017 d:CapitalRedemptionReserve 2023-04-01 2023-12-31 05934017 d:CapitalRedemptionReserve 2023-12-31 05934017 d:CapitalRedemptionReserve 2023-03-31 05934017 d:OtherMiscellaneousReserve 2023-04-01 2023-12-31 05934017 d:OtherMiscellaneousReserve 2023-12-31 05934017 d:OtherMiscellaneousReserve 2023-03-31 05934017 d:RetainedEarningsAccumulatedLosses 2023-04-01 2023-12-31 05934017 d:RetainedEarningsAccumulatedLosses 2023-12-31 05934017 d:RetainedEarningsAccumulatedLosses 2023-03-31 05934017 c:FRS102 2023-04-01 2023-12-31 05934017 c:Audited 2023-04-01 2023-12-31 05934017 c:FullAccounts 2023-04-01 2023-12-31 05934017 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 05934017 c:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 05934017 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-04-01 2023-12-31 05934017 2 2023-04-01 2023-12-31 05934017 6 2023-04-01 2023-12-31 05934017 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2023-12-31 05934017 e:PoundSterling 2023-04-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05934017










SOLUTIONS FOR RETAIL BRANDS LIMITED










Financial statements

Information for filing with the registrar

For the 9 months Ended 31 December 2023

 
SOLUTIONS FOR RETAIL BRANDS LIMITED
Registered number:05934017

Statement of Financial Position
As at 31 December 2023

31 December
31 March
2023
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,117,313
1,103,904

Tangible assets
 5 
14,975
22,031

Investments
 6 
7,037
3,704

  
1,139,325
1,129,639

Current assets
  

Debtors
 7 
367,514
497,550

Cash at bank and in hand
 8 
218,364
1,454,559

  
585,878
1,952,109

Creditors: amounts falling due within one year
 9 
(1,088,652)
(1,599,438)

Net current (liabilities)/assets
  
 
 
(502,774)
 
 
352,671

Total assets less current liabilities
  
636,551
1,482,310

Creditors: amounts falling due after more than one year
 10 
(315,554)
(2,007,475)

  

Net assets/(liabilities)
  
320,997
(525,165)


Capital and reserves
  

Called up share capital 
  
27,575
25,080

Share premium account
 12 
1,807,813
327,618

Capital redemption reserve
 12 
10,000
10,000

Other reserves
 12 
-
372,120

Profit and loss account
 12 
(1,524,391)
(1,259,983)

  
320,997
(525,165)


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SOLUTIONS FOR RETAIL BRANDS LIMITED
Registered number:05934017

Statement of Financial Position (continued)
As at 31 December 2023

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 27 June 2025.




Matthew Stevens
Director

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

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

1.


General information

Solutions For Retail Brands Limited is a private company limited by shares incorporated in England and
Wales. The registered office is Water Court, 116-118 Canal Street, Nottingham, NG1 7HF.

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 following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors believe the company has adequate equity and loan finance to continue to fund the business after the balance sheet date.
The directors have therefore continued to adopt the going concern basis of accounting in preparing the financial statements.

 
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.

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

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 

Notes to the Financial Statements
For the 9 months Ended 31 December 2023

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:

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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 

Notes to the Financial Statements
For the 9 months Ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Interest income

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

 
2.8

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.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the 9 months in which they are incurred.

 
2.10

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.

 
2.11

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 reporting date in the countries where the Company operates and generates income.


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SOLUTIONS FOR RETAIL BRANDS LIMITED
 

Notes to the Financial Statements
For the 9 months Ended 31 December 2023

2.Accounting policies (continued)

 
2.12

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.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
2.13

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
-
25%
Office equipment
-
33%
Computer equipment
-
33%

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.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 

Notes to the Financial Statements
For the 9 months Ended 31 December 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

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 9 months was 25 (2023 - 30).

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

4.


Intangible assets






Development expenditure

£



Cost


At 1 April 2023
2,705,706


Additions
298,887



At 31 December 2023

3,004,593



Amortisation


At 1 April 2023
1,601,802


Charge for the 9 months on owned assets
285,478



At 31 December 2023

1,887,280



Net book value



At 31 December 2023
1,117,313



At 31 March 2023
1,103,904


The individual intangible assets which are material to the financial statements are costs relating to internally generated projects that are expected to generate future economic benefits.
As at the balance sheet date, the net book value of development costs was £1.1 million. These assets are amortised on a straight-line basis over their estimated useful economic life of five years.


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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
69,724
17,650
63,416
150,790


Additions
-
-
2,422
2,422


Disposals
-
-
(21,078)
(21,078)



At 31 December 2023

69,724
17,650
44,760
132,134



Depreciation


At 1 April 2023
62,422
17,091
49,245
128,758


Charge for the 9 months on owned assets
1,635
239
7,175
9,049


Disposals
-
-
(20,648)
(20,648)



At 31 December 2023

64,057
17,330
35,772
117,159



Net book value



At 31 December 2023
5,667
320
8,988
14,975



At 31 March 2023
7,302
558
14,171
22,031


6.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
3,704


Additions
3,333



At 31 December 2023
7,037




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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

7.


Debtors


31 December
31 March
2023
2023
£
£

Trade debtors
245,738
264,705

Amounts owed by group undertakings
-
1,111

Other debtors
-
116,352

Prepayments and accrued income
121,776
115,382

367,514
497,550



8.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
218,364
1,454,559

Less: bank overdrafts
(14,977)
(10,697)

203,387
1,443,862



9.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Bank overdrafts
14,977
10,697

Other loans
-
112,500

Trade creditors
34,096
100,459

Other taxation and social security
24,878
53,856

Other creditors
30,828
6,805

Accruals and deferred income
983,873
1,315,121

1,088,652
1,599,438


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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

10.


Creditors: Amounts falling due after more than one year

31 December
31 March
2023
2023
£
£

Other loans
-
1,609,460

Accruals and deferred income
315,554
398,015

315,554
2,007,475



11.


Loans


31 December
31 March
2023
2023
£
£

Amounts falling due within one year

Other loans
-
112,500


-
112,500



Amounts falling due after more than 5 years

Other loans
-
1,609,460

-
1,609,460

-
1,721,960


Other loans include £nil (31 March 2023: £1,150,000) of secured loan notes issued by Foresight Nottingham Fund LLP and £nil (31 March 2023: £250,000) from Maven. Both loans were secured by way of fixed and floating charges over the company’s assets. A further £nil (31 March 2023: £35,322) of other borrowings relates to director loan notes with interest charged at 3%. The company paid £376 (31 March 2023: £1,593) in interest on these loan notes during the year. 
Other borrowings also include an amount of £nil (31 March 2023: £171,875), which is in relation to a Coronavirus Business Interruption Scheme Loan. This were secured by way of a fixed and floating charge against the company's assets.
These loans were fully settled in September 2024 as part of the takeover of the company, and the associated security was discharged. No amounts remain outstanding at the year end in respect of these borrowings.

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SOLUTIONS FOR RETAIL BRANDS LIMITED
 
 
Notes to the Financial Statements
For the 9 months Ended 31 December 2023

12.


Reserves

Share premium account

The share premium reserve represents an additional amount of funds received by the company exceeding the par value of its shares. 

Capital redemption reserve

The capital redemption reserve represents non distributable reserves following the purchase of the company's own shares out of distributable profits.

Share-based payment reserve

The company operates an equity based share option scheme. The fair value determined at the grant date is expenses on a straight line basis over the vesting period, with a corresponding adjustment made to equity.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


13.


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 Company  to the fund and amounted to £88,565 (31 March 2023 - £58,005). Contributions totalling £nil (2023 - £nil) were payable to the fund at the reporting date and are included in creditors.


14.


Controlling party

The Company’s immediate and ultimate controlling party is Bamboo Rose UK Ltd, a company incorporated in the United Kingdom, which holds 100% of the issued share capital of the Company and thereby exercises control.


15.


Auditors' information

The auditors' report on the financial statements for the 9 months ended 31 December 2023 was unqualified.

The audit report was signed on 27 June 2025 by Adrian Patton (Senior Statutory Auditor) on behalf of Sumer Auditco NI Limited.

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