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Registered number: 10265657










KRICKET SOHO LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 1 JANUARY 2023

 
KRICKET SOHO LIMITED
REGISTERED NUMBER: 10265657

BALANCE SHEET
AS AT 1 JANUARY 2023

1 January 2023
31 December 2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
522,085
639,236

  
522,085
639,236

Current assets
  

Stocks
 5 
25,156
15,698

Debtors: amounts falling due within one year
 6 
1,823,924
1,388,306

Cash at bank and in hand
 7 
51,246
26,148

  
1,900,326
1,430,152

Creditors: amounts falling due within one year
 8 
(2,362,294)
(2,073,108)

Net current liabilities
  
 
 
(461,968)
 
 
(642,956)

Total assets less current liabilities
  
60,117
(3,720)

Creditors: amounts falling due after more than one year
 9 
(68,362)
-

  

Net liabilities
  
(8,245)
(3,720)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(8,345)
(3,820)

  
(8,245)
(3,720)


Page 1

 
KRICKET SOHO LIMITED
REGISTERED NUMBER: 10265657
    
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 by: 




R A Campbell
Director

Date: 24 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

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

1.


General information

Kricket Soho Limited is a company limited by shares, incorporated in England and Wales (registered number: 10265657). The registered office is 2nd Floor, 12-14 Denman Street, London, W1D 7HJ.
The financial statements are presented in 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 directors have confirmed that the company will contonue to be supported by other group companies in order to 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

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.

Page 3

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

2.Accounting policies (continued)

 
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

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.

 
2.7

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:

Plant and machinery
-
25%
Straight line
Fixtures and fittings
-
25%
Straight line
Computers
-
25%
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.

 
2.8

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.

Page 4

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


Employees

The average monthly number of employees, including directors, during the year was 40 (2021 - 25).

Page 5

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

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
51,364
1,045,481
28,665
1,125,510


Additions
6,342
17,756
7,688
31,786



At 1 January 2023

57,706
1,063,237
36,353
1,157,296



Depreciation


At 1 January 2022
21,493
446,271
18,510
486,274


Charge for the year on owned assets
10,262
134,016
4,659
148,937



At 1 January 2023

31,755
580,287
23,169
635,211



Net book value



At 1 January 2023
25,951
482,950
13,184
522,085



At 31 December 2021
29,871
599,210
10,155
639,236


5.


Stocks

1 January 2023
31 December 2021
£
£

Finished goods
25,156
15,698

25,156
15,698


Page 6

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

6.


Debtors

1 January 2023
31 December 2021
£
£


Trade debtors
5,927
4,561

Amounts owed by group undertakings
1,623,213
1,244,801

Other debtors
98,343
39,943

Prepayments and accrued income
96,441
99,001

1,823,924
1,388,306



7.


Cash and cash equivalents

1 January 2023
31 December 2021
£
£

Cash at bank and in hand
51,246
26,148

51,246
26,148



8.


Creditors: Amounts falling due within one year

1 January 2023
31 December 2021
£
£

Trade creditors
255,321
101,832

Amounts owed to group undertakings
1,471,393
1,590,269

Other taxation and social security
202,404
99,606

Other creditors
350,165
225,683

Accruals and deferred income
83,011
55,718

2,362,294
2,073,108


Page 7

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

9.


Creditors: Amounts falling due after more than one year

1 January 2023
31 December 2021
£
£

Other loans
68,362
-

68,362
-



10.


Loans


Analysis of the maturity of loans is given below:


1 January 2023
31 December 2021
£
£


Amounts falling due 1-2 years

Other loans
68,362
-


68,362
-



11.


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 £17,089 (2021- £10,670). Contributions payable to the fund at the balance sheet date amounted to £11,346 (2021 - £20,659).


12.


Related party transactions

Included within creditors is an amount of £1,471,393 (2021: £1,590,269) due to other group companies. 
Included within debtors is an amount of £1,623,213 (2021: £1,244,801) due from other group companies.
Also included withon other debtors is an amount of £36,600 due back to the company from the directors. This was recovered by way of a dividend after the balance sheet date. 

Page 8

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

13.


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.


14.


Auditors' information

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

The audit report was signed on 24 November 2023 by Daniel Walters (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 9