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Registered number: 06265561









BLURB UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

 
BLURB UK LIMITED
REGISTERED NUMBER: 06265561

BALANCE SHEET
AS AT 30 JUNE 2022

As restated
2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
61,244
8,184

Cash at bank and in hand
 5 
17,128
65,843

  
78,372
74,027

Creditors: amounts falling due within one year
 6 
(75,466)
(83,246)

Net current assets/(liabilities)
  
 
 
2,906
 
 
(9,219)

Net assets/(liabilities)
  
2,906
(9,219)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,905
(9,220)

  
2,906
(9,219)


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 by: 



T Hughes
Director

Date: 4 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
BLURB UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2020
1
596,851
596,852


Comprehensive income for the year

Loss for the year (as restated)
-
(606,071)
(606,071)
Total comprehensive income for the year
-
(606,071)
(606,071)



At 1 July 2021 (as previously stated)
1
647,975
647,976

Prior year adjustment
-
(657,195)
(657,195)


At 1 July 2021 (as restated)
1
(9,220)
(9,219)


Comprehensive income for the year

Profit for the year
-
12,125
12,125
Total comprehensive income for the year
-
12,125
12,125


At 30 June 2022
1
2,905
2,906


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BLURB UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

Blurb UK Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England. The registered office is Suite 4, 7th Floor, 50 Broadway, London, SW1H 0DB.
The principal activity of the Company in the year under review was that of the provision of marketing services for its parent company, which provides a software platform for  the design and production of self-published books.

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 has obtained a letter of support from the ultimate parent company, Reischling Press, Inc., which has provided a commitment to provide any financial support which may be necessary in order that the Company can meet its liabilities, as they fall due, for a period of at least 12 months from the date of approval of these financial statements. 
As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and the accounts are rounded to the nearest whole £.

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.

Page 3

 
BLURB UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue represents amounts charged to the Company's parent under an agreement for sales and and marketing support provided, excluding value added tax. Revenue is recognised when chargeable costs are incurred.

 
2.5

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.

 
2.6

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.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
BLURB UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
BLURB UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 8).


4.


Debtors

As restated
2022
2021
£
£


Amounts owed by group undertakings
18,826
-

Other debtors
39,706
5,120

Deferred taxation
2,712
3,064

61,244
8,184



5.


Cash and cash equivalents

As restated
2022
2021
£
£

Cash at bank and in hand
17,128
65,843



6.


Creditors: Amounts falling due within one year

As restated
2022
2021
£
£

Trade creditors
27,185
7,774

Amounts owed to group undertakings
-
8,589

Corporation tax
392
5,171

Other taxation and social security
5,955
7,541

Accruals and deferred income
41,934
54,171

75,466
83,246


Page 6

 
BLURB UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

7.


Prior year adjustment

For the year ended 30 June 2021 the Company had maintained inadequate accounting records. Subsequent to the approval of the statutory accounts for the year then ended, Management has undertaken an exercise to rectify the accounting records and accordingly have restated the comparatives within these financial statements. The restatement also includes an intercompany write off of £618,602 which related to the intercompany balance owed by Blurb, Inc. This balance was written off on 1 August 2020 when the parent company was acquired by Reischling Press, Inc.
The restated figures for the year ended 30 June 2021 in these financial statements therefore reflect the results of the Company based on the amended accounting records. The impact of the restatement is as follows:
     - Revenue has decreased by £9,130
     - Other income of £88,586 has been removed
     - Administrative expenses have increased by £566,336 (including intercompany write off of £618,602)
     - Taxation has decreased by £6,857
     - Debtors have decreased overall by £684,102 (including intercompany write off of £618,602)
     - Cash at bank and in hand decreased by £1,127
     - Creditors decreased overall by £28,034
The overall impact on shareholders funds was a decrease of £657,195.


8.


Pension commitments

The Company operates a defined contribution plan for its employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pensions cost charge represents contributions payable by the Company to the fund and amounted to £3,063 (2021: £4,668). Contributions totalling £712 (2021: £370) were payable to the fund at the balance sheet date and are included in creditors.


9.


Controlling party

Reischling Press, Inc. is the immediate and ultimate parent company and is the largest and smallest group  for which consolidated accounts are drawn up and which include Blurb UK Limited. Reischling Press, Inc.'s address is 3325 S. 116th St., Suite 161, Seattle, WA 98168.
The directors of the company do not consider there to be an ultimate controlling party.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 30 June 2022 was unqualified.

The audit report was signed on 6 November 2023 by Karen Cairns (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 7