Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30false35true2022-05-01falseNo description of principal activity47 02189929 2022-05-01 2023-04-30 02189929 2021-05-01 2022-04-30 02189929 2023-04-30 02189929 2022-04-30 02189929 2021-05-01 02189929 c:Director2 2022-05-01 2023-04-30 02189929 d:PlantMachinery 2022-05-01 2023-04-30 02189929 d:MotorVehicles 2022-05-01 2023-04-30 02189929 d:FurnitureFittings 2022-05-01 2023-04-30 02189929 d:ComputerEquipment 2022-05-01 2023-04-30 02189929 d:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 02189929 d:OtherPropertyPlantEquipment 2023-04-30 02189929 d:OtherPropertyPlantEquipment 2022-04-30 02189929 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 02189929 d:ComputerSoftware 2023-04-30 02189929 d:ComputerSoftware 2022-04-30 02189929 d:CurrentFinancialInstruments 2023-04-30 02189929 d:CurrentFinancialInstruments 2022-04-30 02189929 d:Non-currentFinancialInstruments 2023-04-30 02189929 d:Non-currentFinancialInstruments 2022-04-30 02189929 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02189929 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 02189929 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02189929 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 02189929 d:ShareCapital 2023-04-30 02189929 d:ShareCapital 2022-04-30 02189929 d:RetainedEarningsAccumulatedLosses 2023-04-30 02189929 d:RetainedEarningsAccumulatedLosses 2022-04-30 02189929 c:OrdinaryShareClass1 2022-05-01 2023-04-30 02189929 c:OrdinaryShareClass1 2023-04-30 02189929 c:OrdinaryShareClass1 2022-04-30 02189929 c:FRS102 2022-05-01 2023-04-30 02189929 c:Audited 2022-05-01 2023-04-30 02189929 c:FullAccounts 2022-05-01 2023-04-30 02189929 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02189929 d:WithinOneYear 2023-04-30 02189929 d:WithinOneYear 2022-04-30 02189929 d:BetweenOneFiveYears 2023-04-30 02189929 d:BetweenOneFiveYears 2022-04-30 02189929 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 02189929 d:HirePurchaseContracts d:WithinOneYear 2022-04-30 02189929 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 02189929 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-04-30 02189929 c:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 02189929 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02189929 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 02189929 d:RetirementBenefitObligationsDeferredTax 2023-04-30 02189929 d:RetirementBenefitObligationsDeferredTax 2022-04-30 02189929 d:OtherDeferredTax 2023-04-30 02189929 d:OtherDeferredTax 2022-04-30 02189929 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-05-01 2023-04-30 02189929 2 2022-05-01 2023-04-30 02189929 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 02189929 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02189929









BIZ KARTS LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
BIZ KARTS LIMITED
REGISTERED NUMBER: 02189929

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
156,789
-

Tangible assets
 5 
821,443
285,101

  
978,232
285,101

Current assets
  

Stocks
 6 
2,859,389
1,248,212

Debtors: amounts falling due within one year
 7 
2,276,357
2,534,194

Cash at bank and in hand
 8 
690,877
815,571

  
5,826,623
4,597,977

Creditors: amounts falling due within one year
 9 
(2,777,917)
(1,693,608)

Net current assets
  
 
 
3,048,706
 
 
2,904,369

Total assets less current liabilities
  
4,026,938
3,189,470

Creditors: amounts falling due after more than one year
 10 
(77,690)
(21,163)

Provisions for liabilities
  

Deferred tax
 12 
(198,563)
(64,651)

Net assets
  
3,750,685
3,103,656


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
3,750,585
3,103,556

  
3,750,685
3,103,656


Page 1

 
BIZ KARTS LIMITED
REGISTERED NUMBER: 02189929

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 by: 




M S Smith
Director

Date: 6 November 2023

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

BIZ Karts Limited is a private Company limited by shares and in incorpoated in England and Wales. The address of its registered office is Millmarsh Lane, Brimsdown, Enfield, EN3 7QA.

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 financial statements have been prepared on the going concern basis. In assessing the appropriateness of the going concern basis, the Directors have taken account of all relevant information covering a period of at least twelve months from the date of approval of the financial statements. The Directors consider it appropriate to continue to use the going concern assumption on the basis that the Company will have sufficient resources to enable it to meet its liabilities as they fall due.

 
2.3

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.

 
2.4

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 three years.

Page 3

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
25% reducing balance

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.

 
2.6

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
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.
Page 4

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
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

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

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.

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pounds Sterling.

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.

 
2.12

Finance costs

Finance costs are charged to profit or loss 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.

 
2.13

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Interest income

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

 
2.16

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.

 
2.17

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable.

Page 7

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2022 - 35).


4.


Intangible assets




Computer software

£



Cost


Additions
156,789



At 30 April 2023

156,789






Net book value



At 30 April 2023
156,789



At 30 April 2022
-



Page 8

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 May 2022
445,519


Additions
667,071


Disposals
(108,599)



At 30 April 2023

1,003,991



Depreciation


At 1 May 2022
160,418


Charge for the year on owned assets
82,071


Disposals
(59,941)



At 30 April 2023

182,548



Net book value



At 30 April 2023
821,443



At 30 April 2022
285,101

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
153,102
26,896


6.


Stocks

2023
2022
£
£

Raw materials and consumables
2,654,676
1,223,127

Work in progress (goods to be sold)
187,713
9,085

Finished goods and goods for resale
17,000
16,000

2,859,389
1,248,212


Page 9

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Debtors

2023
2022
£
£


Trade debtors
886,866
612,672

Amounts owed by group undertakings
897,442
1,799,573

Other debtors
382,959
18,455

Prepayments and accrued income
109,090
103,494

2,276,357
2,534,194



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
690,877
815,571



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,609,227
1,414,285

Amounts owed to group undertakings
831,992
-

Corporation tax
119,365
96,666

Other taxation and social security
126,624
139,365

Obligations under finance lease and hire purchase contracts
32,535
15,196

Other creditors
8,730
546

Accruals and deferred income
49,444
27,550

2,777,917
1,693,608


Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
77,690
21,163


Page 10

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
32,535
15,196

Between 1-5 years
77,690
21,163

110,225
36,359

12.


Deferred taxation




2023
2022


£

£






At beginning of year
64,651
33,286


Charged to profit or loss
133,912
31,365



At end of year
198,563
64,651

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
200,746
67,329

Pension surplus
(2,183)
(137)

Other timing differences
-
(2,541)

198,563
64,651


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



14.


Contingent liabilities

The Company has jointly guaranteed the bank borrowings on its parent Company.  At the year end the liabilities covered by this guarantee totalled £3,860,741 (2022 - £4,000,000).

Page 11

 
BIZ KARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

15.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the Scheme are held separately from those of the Company is an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £56,615 (2022 - £45,069). Contributions totalling £8,730 (2022 - £546) were payable to the fund at the balance sheet date and are included within creditors.  


16.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
47,304
28,374

Later than 1 year and not later than 5 years
39,805
31,001

87,109
59,375


17.


Related party transactions

The Company has taken advantage of the exemption under FRS 102 (section 33.1A) not to disclose transactions with wholly owned group companies.


18.


Ultimate parent undertaking and controlling party

The Company's immediate parent company is BIZ Group Holdings Limited, a company registered in England and Wales. The Company's ultimate parent company is BIZ Holdings Limited, a company registered in England and Wales.  Copies of the consolidated financial statements of BIZ Holdings Limited are available from Companies House.


19.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2023 was unqualified.

The audit report was signed on 7 November 2023 by Richard Vass (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 12