Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true22022-04-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12492896 2022-04-01 2023-03-31 12492896 2021-04-01 2022-03-31 12492896 2023-03-31 12492896 2022-03-31 12492896 c:Director1 2022-04-01 2023-03-31 12492896 d:OfficeEquipment 2022-04-01 2023-03-31 12492896 d:OfficeEquipment 2023-03-31 12492896 d:OfficeEquipment 2022-03-31 12492896 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12492896 d:CurrentFinancialInstruments 2023-03-31 12492896 d:CurrentFinancialInstruments 2022-03-31 12492896 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12492896 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12492896 d:ShareCapital 2023-03-31 12492896 d:ShareCapital 2022-03-31 12492896 d:RetainedEarningsAccumulatedLosses 2023-03-31 12492896 d:RetainedEarningsAccumulatedLosses 2022-03-31 12492896 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12492896 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 12492896 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12492896 c:OrdinaryShareClass1 2023-03-31 12492896 c:OrdinaryShareClass1 2022-03-31 12492896 c:FRS102 2022-04-01 2023-03-31 12492896 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12492896 c:FullAccounts 2022-04-01 2023-03-31 12492896 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12492896 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12492896










BOWERY EUROPE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023



 
BOWERY EUROPE LIMITED
REGISTERED NUMBER: 12492896

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,519
3,083

Investments
 5 
1,851
17,201

  
7,370
20,284

Current assets
  

Debtors: amounts falling due within one year
 6 
167,084
26,804

Cash at bank and in hand
  
424,039
9,210

  
591,123
36,014

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(165,120)
(47,682)

Net current assets/(liabilities)
  
 
 
426,003
 
 
(11,668)

Total assets less current liabilities
  
433,373
8,616

Provisions for liabilities
  

Deferred tax
 8 
(1,380)
(771)

  
 
 
(1,380)
 
 
(771)

Net assets
  
431,993
7,845


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
431,992
7,844

  
431,993
7,845


Page 1

 
BOWERY EUROPE LIMITED
REGISTERED NUMBER: 12492896

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 






J M B D Caillon
Director

Date: 16 November 2023

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

Page 2

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bowery Europe Ltd is a private company limited by share capital and incorporated in England and Wales. The address of the registered office is 17 Hanover Square, London, W1S 1BN.

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

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.

 
2.3

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 for services during the year, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

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.

Page 3

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

The estimated useful lives range as follows:

Office equipment
-
3
years

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 4

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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

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.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).

Page 5

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
5,495


Additions
6,340



At 31 March 2023

11,835



Depreciation


At 1 April 2022
2,412


Charge for the year on owned assets
3,904



At 31 March 2023

6,316



Net book value



At 31 March 2023
5,519



At 31 March 2022
3,083


5.


Fixed asset investments





Investments in subsidiary companies
Other investments
Total

£
£
£



Cost or valuation


At 1 April 2022
833
16,368
17,201


Disposals
-
(15,350)
(15,350)



At 31 March 2023
833
1,018
1,851




Page 6

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
27,530
-

Other debtors
135,782
26,130

Prepayments and accrued income
3,772
674

167,084
26,804



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
12,299
79

Corporation tax
98,680
22,955

Other creditors
51,374
21,998

Accruals and deferred income
2,767
2,650

165,120
47,682



8.


Deferred taxation




2023


£






At beginning of year
(771)


Charged to profit or loss
(609)



At end of year
(1,380)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,380)
(771)

(1,380)
(771)

Page 7

 
BOWERY EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £0.01 each
1
1



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 £4,500 (2022: £nil).
Contributions totalling £1,375 (2022: £nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

At the balance sheet date the director, J M B D Caillon, was due £49,999 on a non-interest bearing loan with no set repayment date (2022: £21,999).


Page 8