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Registered number: 11172500










KRICKET BRIXTON LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 1 JANUARY 2023

 
KRICKET BRIXTON LIMITED
REGISTERED NUMBER: 11172500

BALANCE SHEET
AS AT 1 JANUARY 2023

1 January 2023
31 December 2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
420,990
213,550

  
420,990
213,550

Current assets
  

Stocks
  
10,102
7,688

Debtors: amounts falling due within one year
 5 
294,344
278,035

Cash at bank and in hand
 6 
77,156
37,104

  
381,602
322,827

Creditors: amounts falling due within one year
 7 
(910,492)
(608,272)

Net current liabilities
  
 
 
(528,890)
 
 
(285,445)

Total assets less current liabilities
  
(107,900)
(71,895)

  

Net liabilities
  
(107,900)
(71,895)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(108,000)
(71,995)

  
(107,900)
(71,895)


Page 1

 
KRICKET BRIXTON LIMITED
REGISTERED NUMBER: 11172500
    
BALANCE SHEET (CONTINUED)
AS AT 1 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 comprehensive income 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 17 November 2023.




R A Campbell
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JANUARY 2023

1.


General information

Kricket Brixton Lts is a private company limited by shares, incorporated in England & Wales (registered number: 11172500). The registered office address is 2nd Floor, 12-14 Denman Street, London W1D 7HJ.
The financial statements are presented in GBP Sterling which is the functional currency of the company. 

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.
Given that the Company is in a net defecit position the company will continue to be supported by other group companies to ensure that the company can operate viably and meet its obligations as they fall due for a period of 12 months from the date of this report. We therefore consider it appropriate to prepare the financial statements on the going concern basis.

 
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

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.

Page 3

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JANUARY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.

 
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.

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:

Fixtures and fittings
-
25%
Computer equipment
-
25%
Other fixed assets
-
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.

Page 4

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 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 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 16).

Page 5

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JANUARY 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 2 January 2022
345,173
14,031
12,672
371,876


Additions
266,404
10,363
7,573
284,340



At 1 January 2023

611,577
24,394
20,245
656,216



Depreciation


At 2 January 2022
136,626
11,170
10,529
158,325


Charge for the year on owned assets
69,708
4,002
3,191
76,901



At 1 January 2023

206,334
15,172
13,720
235,226



Net book value



At 1 January 2023
405,243
9,222
6,525
420,990



At 1 January 2021
208,547
2,860
2,143
213,550
Page 6

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JANUARY 2023

5.


Debtors

2023
2021
£
£


Trade debtors
12,948
99

Amounts owed by group undertakings
179,200
174,723

Other debtors
20,769
20,445

Prepayments and accrued income
81,427
82,768

294,344
278,035



6.


Cash and cash equivalents

2023
2021
£
£

Cash at bank and in hand
77,156
37,104

Less: bank overdrafts
-
(689)

77,156
36,415



7.


Creditors: Amounts falling due within one year

2023
2021
£
£

Debenture loans
3,651
-

Bank overdrafts
-
689

Trade creditors
252,750
150,249

Amounts owed to group undertakings
492,486
359,925

Other taxation and social security
86,698
10,252

Other creditors
1,813
560

Accruals and deferred income
73,094
86,597

910,492
608,272



8.


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 £5,461 (2021- £3,681). Contributions payable to the fund at the balance sheet date amounted to £Nil (2020 - £Nil).

Page 7

 
KRICKET BRIXTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JANUARY 2023

9.


Related party transactions

Included within creditors is an amount of £492,486 (2021: £359,925) due to other group companies. 
Included within debtors is an amount of £179,200 (2021: £174,723) due from other group companies. 


10.


Controlling party

The intermediate controlling party is WRP Holdco Ltd, a limited liability partnership incorporated in England and Wales (registered number: 14264912). The registered office address is 12-14 Denman Street, London, W1D 7HJ. The ultimate controlling party is C Miller.

11.


Auditors' information

The auditors' report on the financial statements for the year ended 1 January 2023 was unqualified.

The audit report was signed on 17 November 2023 by Daniel Walters (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 8