Re-leased Software Company UK Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09921344 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

RE-LEASED SOFTWARE COMPANY UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T P Wallace

J P Wallace

S J Caulton

SECRETARY:

S J Caulton

REGISTERED OFFICE:

Level 4, Thavies Inn House

3-4 Holborn Circus

Mid Town

London

EC1N 2HA

REGISTERED NUMBER:

09921344 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

18,676

27,523

CURRENT ASSETS

Debtors

5

944,514

1,615,867

Cash at bank

1,178,375

35,699

2,122,889

1,651,566

CREDITORS

Amounts falling due within one year

6

370,198

415,004

NET CURRENT ASSETS

1,752,691

1,236,562

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,771,367

1,264,085

CAPITAL AND RESERVES

Called up share capital

9

1

Capital contribution reserve

137,400

163,927

Retained earnings

1,633,966

1,100,157

SHAREHOLDERS' FUNDS

1,771,367

1,264,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 24 September 2025 and were signed on its behalf by:

S J Caulton - Director

1.	STATUTORY INFORMATION

Re-leased Software Company UK 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 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.

The financial statements have been prepared on a going concern basis. The directors have considered the company's financial position, including its cash flow forecasts and available financing facilities, for a period of at least 12 months and one day from the date of approval of the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue is recognised to the extent that is is probable 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.

Revenue from a contract to provide services is recognised in the period in which services are provided.

Tangible fixed assets

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

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Share based payments

The company provides share based payment arrangements to certain employees.

The arrangements are measured at fair value at the date of grant. The fair value is based on Black Scholes model and expensed on a graded vesting basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares that will vest.

Those share options forfeited are de-recognised through the income statement.

Basic financial intruments

Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by section 12 of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

59,099

Additions

2,034

At 31 March 2025

61,133

DEPRECIATION

At 1 April 2024

31,576

Charge for year

10,881

At 31 March 2025

42,457

NET BOOK VALUE

At 31 March 2025

18,676

At 31 March 2024

27,523

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

7,257

25,456

Amounts owed by group undertakings

716,207

1,489,826

Other debtors

221,050

100,585

944,514

1,615,867

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

2,831

17,512

Trade creditors

5,414

9,023

Taxation and social security

96,006

186,515

Other creditors & accruals

265,947

201,954

370,198

415,004

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

50,000

8.	DEFERRED TAX

£

Provided during year

(39,095

)

Balance at 31 March 2025

(39,095

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

1

Ordinary Shares

£1

1

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

S J Caulton

Balance outstanding at start of year

-

3,820

Amounts repaid

-

(3,820

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

11.	ULTIMATE CONTROLLING PARTY

Re-Leased Software Company Limited (NZ), whose registered office is 111 Wellesley Street West Auckland 1010, is the ultimate controlling company and prepares consolidated financial statements which include the results and financial position of Re-Leased Software Company UK Limited. Consolidated accounts are available at the registered office address.

11.	SHARE-BASED PAYMENT TRANSACTIONS

Certain employees have been granted share options in Re-Leased Software Company Ltd (NZ company) during their employment with the company. The majority of the share options vest over a 4 year period with 25% being subject to an initial 12 month cliff and the remaining 75% vesting monthly over the following 36 months in equal installments, subject to the employees' continuing employment with the employer.

The options are equity settled. The share option charge is being determined by using the Black-Scholes valuation methodology to assess the fair market value at the date of grant and the charge is being released to the statement of profit or loss in line with the graded vesting approach.

The share option charge for the current year is £13,928 (2024:£36,898).