Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity2619truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02677902 2022-01-01 2022-12-31 02677902 2021-01-01 2021-12-31 02677902 2022-12-31 02677902 2021-12-31 02677902 c:Director4 2022-01-01 2022-12-31 02677902 d:MotorVehicles 2022-01-01 2022-12-31 02677902 d:MotorVehicles 2022-12-31 02677902 d:MotorVehicles 2021-12-31 02677902 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02677902 d:FurnitureFittings 2022-01-01 2022-12-31 02677902 d:FurnitureFittings 2022-12-31 02677902 d:FurnitureFittings 2021-12-31 02677902 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02677902 d:ComputerEquipment 2022-01-01 2022-12-31 02677902 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02677902 d:CurrentFinancialInstruments 2022-12-31 02677902 d:CurrentFinancialInstruments 2021-12-31 02677902 d:Non-currentFinancialInstruments 2022-12-31 02677902 d:Non-currentFinancialInstruments 2021-12-31 02677902 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02677902 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 02677902 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02677902 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 02677902 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02677902 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 02677902 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02677902 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 02677902 d:ShareCapital 2022-12-31 02677902 d:ShareCapital 2021-12-31 02677902 d:CapitalRedemptionReserve 2022-12-31 02677902 d:CapitalRedemptionReserve 2021-12-31 02677902 d:RetainedEarningsAccumulatedLosses 2022-12-31 02677902 d:RetainedEarningsAccumulatedLosses 2021-12-31 02677902 c:FRS102 2022-01-01 2022-12-31 02677902 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 02677902 c:FullAccounts 2022-01-01 2022-12-31 02677902 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 02677902 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 02677902









BLACK DIAMOND AGENCY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
BLACK DIAMOND AGENCY LIMITED
REGISTERED NUMBER: 02677902

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible fixed assets
  
16,352
14,168

  
16,352
14,168

Current assets
  

Debtors: amounts falling due within one year
 5 
1,458,907
671,089

Cash at bank and in hand
 6 
285,070
472,205

  
1,743,977
1,143,294

Creditors: amounts falling due within one year
 7 
(853,825)
(601,852)

Net current assets
  
 
 
890,152
 
 
541,442

Total assets less current liabilities
  
906,504
555,610

Creditors: amounts falling due after more than one year
 8 
(256,000)
(352,000)

  

Net assets
  
650,504
203,610


Capital and reserves
  

Called up share capital 
  
69
69

Capital redemption reserve
  
45
45

Profit and loss account
  
650,390
203,496

  
650,504
203,610


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.
 
Page 1

 
BLACK DIAMOND AGENCY LIMITED
REGISTERED NUMBER: 02677902
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022


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 income and retained earnings 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 16 October 2023.




J E Odoire
Director

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

Page 2

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Black Diamond Agency Limited is a private company, limited by shares and incorporated in England and Wales. The address of its registered office is Harmsworth House, 13-15 Bouverie Street, London, EC4Y 8DP.

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

Going concern

The company meets its day to day working capital requirements through the utilisation of its own funds and bank loans.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  The directors therefore consider it appropriate to adopt the going concern basis in preparing the company's financial statements.

 
2.3

Revenue

Revenue comprises fees receivable for advertising and motion picture distribution services and is recognised in the statement of comprehensive income in the period in which it is contractually due and expended on production services.

 
2.4

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:

Motor vehicles
-
20% straight line
Fixtures, fittings & equipment
-
20% straight line
Computer equipment
-
33.33% 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.

Page 3

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

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. 

 
2.7

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.10

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.

 
2.11

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.

Page 4

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Interest income

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

 
2.14

Borrowing costs

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

 
2.15

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 balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2021 - 19).

Page 5

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Motor vehicles
Fixtures, fittings & equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
36,000
25,635
61,635


Additions
-
9,485
9,485


Disposals
-
(1,031)
(1,031)



At 31 December 2022

36,000
34,089
70,089



Depreciation


At 1 January 2022
36,000
11,467
47,467


Charge for the year on owned assets
-
7,301
7,301


Disposals
-
(1,031)
(1,031)



At 31 December 2022

36,000
17,737
53,737



Net book value



At 31 December 2022
-
16,352
16,352



At 31 December 2021
-
14,168
14,168


5.


Debtors

2022
2021
£
£


Trade debtors
977,871
345,744

Amounts owed by group undertakings
3,606
-

Other debtors
284,219
127,669

Prepayments and accrued income
193,211
197,676

1,458,907
671,089


Page 6

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
285,070
472,205

285,070
472,205



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
96,000
96,000

Trade creditors
354,942
272,358

Corporation tax
109,191
15,952

Other creditors
53,453
31,926

Accruals and deferred income
240,239
185,616

853,825
601,852



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
256,000
352,000

256,000
352,000


The following liabilities were secured:

2022
2021
£
£



Bank loans
352,000
448,000

352,000
448,000

Details of security provided:

The bank loan is secured by fixed and floating charges over the current and future assets of the company. The loan is guaranteed by the UK Government in accordance with the terms of the Coronavirus Business Interruption Loan Scheme.

Page 7

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
96,000
96,000


96,000
96,000

Amounts falling due 1-2 years

Bank loans
96,000
96,000


96,000
96,000

Amounts falling due 2-5 years

Bank loans
160,000
256,000


160,000
256,000


352,000
448,000


The loan is repayable by 60 monthly instalments of £8,000 beginning 13 months after the date of the initial drawdown and ending August 2026. Interest is charged on a daily basis at 2.99% over the bank's base rate and is payable at the end of each quarter.


10.


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 £43,718 (2021: £23,538). Contributions totalling 9,328 (2021: £6,250) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

During the period management fees of £Nil (2021: £33,672) were paid the company's parent undertaking and revenue of £9,600 (2021: £Nil) was receivable from the parent undertaking.
During the period expenses and payroll costs totalling £128,892 (2021: £nil) were paid on behalf of a company with common directors.  As at the reporting date £128,892 (2021: £nil) was due in respect of these expenses and payroll costs.

Page 8

 
BLACK DIAMOND AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

12.


Controlling party

Up to 28 April 2023 the immediate and parent undertaking was Global Tourism Platforms Limited.   The ultimate controlling party is A G Chambers, a director and the majority shareholder of the parent company.
From 28 April 2023 the immediate parent company was Global Tourism Platforms Limited and the ultimate parent undertaking was Miles Partnership LLC, a company incorporated in the United States of America.  There is no ultimate controlling party.

 
Page 9