ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-31truefalse2020-04-01Retail sale via Mail order and internet00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10694004 2020-04-01 2021-03-31 10694004 2019-04-01 2020-03-31 10694004 2021-03-31 10694004 2020-03-31 10694004 c:Director1 2020-04-01 2021-03-31 10694004 d:OfficeEquipment 2020-04-01 2021-03-31 10694004 d:OfficeEquipment 2021-03-31 10694004 d:OfficeEquipment 2020-03-31 10694004 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 10694004 d:ComputerSoftware 2021-03-31 10694004 d:ComputerSoftware 2020-03-31 10694004 d:CurrentFinancialInstruments 2021-03-31 10694004 d:CurrentFinancialInstruments 2020-03-31 10694004 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 10694004 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 10694004 d:ShareCapital 2021-03-31 10694004 d:ShareCapital 2020-03-31 10694004 d:RetainedEarningsAccumulatedLosses 2021-03-31 10694004 d:RetainedEarningsAccumulatedLosses 2020-03-31 10694004 d:AcceleratedTaxDepreciationDeferredTax 2021-03-31 10694004 d:AcceleratedTaxDepreciationDeferredTax 2020-03-31 10694004 c:OrdinaryShareClass1 2020-04-01 2021-03-31 10694004 c:OrdinaryShareClass1 2021-03-31 10694004 c:OrdinaryShareClass1 2020-03-31 10694004 c:FRS102 2020-04-01 2021-03-31 10694004 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 10694004 c:FullAccounts 2020-04-01 2021-03-31 10694004 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 10694004 2 2020-04-01 2021-03-31 10694004 d:ComputerSoftware d:OwnedIntangibleAssets 2020-04-01 2021-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10694004

RETROSPECCED LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

RETROSPECCED LTD

REGISTERED NUMBER: 10694004

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Intangible assets	4		-		320
Tangible assets	5		650		974
			650		1,294
Current assets
Cash at bank and in hand	6	5,106		4,157
		5,106		4,157
Creditors: amounts falling due within one year	7	(3,687)		(3,142)
Net current assets			1,419		1,015
Total assets less current liabilities			2,069		2,309
Provisions for liabilities
Deferred tax	8	(122)		(220)
			(122)		(220)
Net assets			1,947		2,089

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		1,847	1,989
		1,947	2,089

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RETROSPECCED LTD

REGISTERED NUMBER: 10694004

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

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 13 November 2021.

Lucy Crane

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Retrospecced Limited, 10694004, is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Beech Mill Bridgnorth Road, Trescott, Wolverhampton, West Midlands, WV6 7EU

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

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.

2.3

Interest income

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

Page 3

RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

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.

2.6

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.

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RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

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:

Office equipment

25%

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.

2.7

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.

2.8

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.

2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).

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RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 April 2020	1,283
	At 31 March 2021	1,283
	Amortisation
	At 1 April 2020	963
	Charge for the year on owned assets	320
	At 31 March 2021	1,283
	Net book value
	At 31 March 2021	-
	At 31 March 2020	320

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RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2020	1,299
	At 31 March 2021	1,299
	Depreciation
	At 1 April 2020	325
	Charge for the year on owned assets	325
	At 31 March 2021	650
	Net book value
	At 31 March 2021	649
	At 31 March 2020	974

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	5,106	4,156
	5,106	4,156

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	600	-
Other taxation and social security	1,503	715
Other creditors	270	1,113
Accruals and deferred income	1,314	1,314
	3,687	3,142

Page 7

RETROSPECCED LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

8.	Deferred taxation

		2021
		£

	At beginning of year	(220)
	Charged to profit or loss	98
	At end of year	(122)

The provision for deferred taxation is made up as follows:
	2021	2020
	£	£

	Accelerated capital allowances	(122)	(220)
		(122)	(220)

9.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 (2020 - 100) Ordianry shares of £1.00 each	100	100

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