Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3135The principal activity2022-01-01false41falsetrue 05147753 2022-01-01 2023-01-31 05147753 2021-01-01 2021-12-31 05147753 2023-01-31 05147753 2021-12-31 05147753 c:Director5 2022-01-01 2023-01-31 05147753 d:Buildings d:ShortLeaseholdAssets 2022-01-01 2023-01-31 05147753 d:Buildings d:ShortLeaseholdAssets 2023-01-31 05147753 d:Buildings d:ShortLeaseholdAssets 2021-12-31 05147753 d:PlantMachinery 2022-01-01 2023-01-31 05147753 d:PlantMachinery 2023-01-31 05147753 d:PlantMachinery 2021-12-31 05147753 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2023-01-31 05147753 d:FurnitureFittings 2022-01-01 2023-01-31 05147753 d:FurnitureFittings 2023-01-31 05147753 d:FurnitureFittings 2021-12-31 05147753 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2023-01-31 05147753 d:OwnedOrFreeholdAssets 2022-01-01 2023-01-31 05147753 d:Goodwill 2022-01-01 2023-01-31 05147753 d:Goodwill 2023-01-31 05147753 d:Goodwill 2021-12-31 05147753 d:CurrentFinancialInstruments 2023-01-31 05147753 d:CurrentFinancialInstruments 2021-12-31 05147753 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05147753 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05147753 d:ShareCapital 2023-01-31 05147753 d:ShareCapital 2021-12-31 05147753 d:RetainedEarningsAccumulatedLosses 2023-01-31 05147753 d:RetainedEarningsAccumulatedLosses 2021-12-31 05147753 c:FRS102 2022-01-01 2023-01-31 05147753 c:Audited 2022-01-01 2023-01-31 05147753 c:FullAccounts 2022-01-01 2023-01-31 05147753 c:PrivateLimitedCompanyLtd 2022-01-01 2023-01-31 05147753 c:SmallCompaniesRegimeForAccounts 2022-01-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 05147753










GB3 LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2023

 
GB3 LIMITED
REGISTERED NUMBER: 05147753

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

31 January
Unaudited
 31 December
2023
2021
Note
£
£

Fixed assets
  

Tangible assets
 6 
53,803
61,643

  
53,803
61,643

Current assets
  

Stocks
  
2,405
2,853

Debtors: amounts falling due within one year
 7 
1,024,568
989,959

Cash at bank and in hand
  
873,965
841,842

  
1,900,938
1,834,654

Creditors: amounts falling due within one year
 8 
(1,042,611)
(1,142,232)

Net current assets
  
 
 
858,327
 
 
692,422

Total assets less current liabilities
  
912,130
754,065

Provisions for liabilities
  

Deferred tax
  
(664)
(664)

  
 
 
(664)
 
 
(664)

Net assets
  
911,466
753,401


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
911,366
753,301

  
911,466
753,401


Page 1

 
GB3 LIMITED
REGISTERED NUMBER: 05147753

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 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 26 October 2023.




R. James Stephenson-Brown
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

1.


General information

GB3 Limited (the "Company") is a private company limited by shares, incorporated and registered in England & Wales in the UK. The registered number is 05147753 and the registered address is 1 Smithy Court, Smithy Brook Road, Wigan, Lancashire, WN3 6PS. 
The principal activity of the company is other information technology activies. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are prepared in sterling, which is the functional currency of the entity.
The comparative information in the accounts is unaudited as the company applied their entitlement to exemption from audit in the year ended 31 December 2021.

The following principal accounting policies have been applied:

  
2.2

Reporting period

The current accounting period has been extended to 13 months to align with the year-end of other group companies. As such the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

 
2.3

Going concern

The financial statements have been prepared on the basis that the company can continue to operate
as a going concern.
The directors are of the opinion, based on forecasts prepared, that the company has adequate
working capital to execute its operations over the next 12 months, from the date of approval of the
accounts, and comply with the terms and conditions of its bank facilities.
Having regard to the above, the Directors believe it appropriate to adopt the going concern basis of
accounting in preparing the financial statements.

Page 3

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 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:

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.

 
2.6

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the period 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 reporting 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 reporting 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 reporting date.

 
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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

The estimated useful lives range as follows:

Short-term leasehold property
-
4
years straight line
Plant and machinery
-
4
years straight line
Fixtures,fittings and equipment
-
4
years 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 5

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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 reporting 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 Statement of Financial Position.

Page 6

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

 
2.13

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
There are no key estimates or assumptions which have been identfied as having a heightened risk of causing a material adjustment to the carrying amount of assets and liabilities.


4.


Employees

The average monthly number of employees, including directors, during the period from 1 January 2022 to 31 January 2023 was 41 (2021 - 35 (unaudited)).

Page 7

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

5.


Intangible assets






Other Intangibles

£



Cost


At 1 January 2022 (unaudited)
20,210


Disposals
(20,210)



At 31 January 2023

-



Amortisation


At 1 January 2022 (unaudited)
20,210


On disposals
(20,210)



At 31 January 2023

-



Net book value



At 31 January 2023
-



At 31 December 2021 (unaudited)
-

Page 8

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

6.


Tangible fixed assets







Short-term leasehold property
Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022 (unaudited)
58,135
73,546
4,801
136,482


Additions
-
24,415
10,664
35,079


Disposals
-
(30,399)
(630)
(31,029)



At 31 January 2023

58,135
67,562
14,835
140,532



Depreciation


At 1 January 2022 (unaudited)
39,968
32,842
2,029
74,839


Charge for the period on owned assets
15,743
22,687
3,915
42,345


Disposals
-
(29,825)
(630)
(30,455)



At 31 January 2023

55,711
25,704
5,314
86,729



Net book value



At 31 January 2023
2,424
41,858
9,521
53,803



At 31 December 2021 (unaudited)
18,167
40,704
2,772
61,643


7.


Debtors

31 January
Unaudited
 31 December
2023
2021
£
£


Trade debtors
762,036
698,186

Amounts owed by group undertakings
104,719
108,820

Other debtors
157,813
182,953

1,024,568
989,959


Page 9

 
GB3 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due within one year

31 January
Unaudited 
31 December
2023
2021
£
£

Trade creditors
443,955
330,866

Corporation tax
142,013
-

Other taxation and social security
160,522
121,267

Other creditors
31,325
20,656

Accruals and deferred income
264,796
669,443

1,042,611
1,142,232


Barclays Bank Plc hold fixed and floating charges over all assets and property of the company.


9.


Related party transactions

Advantage has been taken of the exemption under Financial Reporting Standard 102 not to disclose transactions with wholly owned group members. 


10.


Controlling party

The company's immediate parent undertaking is Urban Origin Limited, a company incorporated in England and Wales. During the year the share capital of Urban Origin Limited was purchased by Evolve B G Limited. 

The ultimate parent company is  Evolve B G Limited, a company incorporated in England and Wales. 

Copies of the consolidated financial statements of Evolve B G Limited can be obtained from it's registered office, Evolveodm, 1 Smithy Court, Smithy Brook Road, Wigan, England, WN3 6PS
 
There is no single ultimate controlling party.


11.


Auditors' information

The auditors' report on the financial statements for the period ended 31 January 2023 was unqualified.

The audit report was signed on 26 October 2023 by Ross Preston, CA (Senior Statutory Auditor) on behalf of Sagars Accountants Ltd.


Page 10