Caseware UK (AP4) 2022.0.179 2022.0.179 false1true2022-03-01specialist design activities1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11194977 2022-03-01 2023-02-28 11194977 2021-03-01 2022-02-28 11194977 2023-02-28 11194977 2022-02-28 11194977 c:Director1 2022-03-01 2023-02-28 11194977 d:OfficeEquipment 2022-03-01 2023-02-28 11194977 d:OfficeEquipment 2023-02-28 11194977 d:OfficeEquipment 2022-02-28 11194977 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11194977 d:CurrentFinancialInstruments 2023-02-28 11194977 d:CurrentFinancialInstruments 2022-02-28 11194977 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11194977 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11194977 d:ShareCapital 2023-02-28 11194977 d:ShareCapital 2022-02-28 11194977 d:RetainedEarningsAccumulatedLosses 2023-02-28 11194977 d:RetainedEarningsAccumulatedLosses 2022-02-28 11194977 c:FRS102 2022-03-01 2023-02-28 11194977 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11194977 c:FullAccounts 2022-03-01 2023-02-28 11194977 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 11194977





 
Bao Group Limited          
 
Financial statements          

For the year ended 28 February 2023          

 
Bao Group Limited
Registered number:11194977

Balance sheet
As at 28 February 2023


2023

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
120
160

Current assets
  

Stock
  
352
352

Debtors
 5 
173
188

Cash at bank and in hand
 6 
10,129
11,842

  
10,654
12,382

Creditors: amounts falling due within one year
 7 
(20,682)
(20,640)

Net current liabilities
  
 
 
(10,028)
 
 
(8,258)

  

Net liabilities
  
(9,908)
(8,098)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(10,108)
(8,298)

  
(9,908)
(8,098)


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 her 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 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 on 27 November 2023.





Winni Lam
Director


The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
Bao Group Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

1.


General information

Bao Group Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

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

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

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.

 
2.4

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.

Page 2

 
Bao Group Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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 at the following rate:

Office 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.

 
2.5

Stock

Stock is 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 first in, first out basis. 
At each balance sheet date, stock is 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 
Bao Group Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

3.


Employees

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


4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 March 2022
335



At 28 February 2023

335



Depreciation


At 1 March 2022
175


Charge for the year
40



At 28 February 2023

215



Net book value



At 28 February 2023
120



At 28 February 2022
160


5.


Debtors

2023
2022
£
£


Prepayments
173
188



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,130
11,841


Page 4

 
Bao Group Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Director's loan account
19,800
19,800

Accruals
882
840

20,682
20,640


Page 5