Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activity2022-07-01false2536falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10253266 2022-07-01 2023-06-30 10253266 2021-07-01 2022-06-30 10253266 2023-06-30 10253266 2022-06-30 10253266 1 2022-07-01 2023-06-30 10253266 d:Director2 2022-07-01 2023-06-30 10253266 c:Buildings c:ShortLeaseholdAssets 2022-07-01 2023-06-30 10253266 c:Buildings c:ShortLeaseholdAssets 2023-06-30 10253266 c:Buildings c:ShortLeaseholdAssets 2022-06-30 10253266 c:PlantMachinery 2022-07-01 2023-06-30 10253266 c:PlantMachinery 2023-06-30 10253266 c:PlantMachinery 2022-06-30 10253266 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10253266 c:FurnitureFittings 2022-07-01 2023-06-30 10253266 c:FurnitureFittings 2023-06-30 10253266 c:FurnitureFittings 2022-06-30 10253266 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10253266 c:OfficeEquipment 2022-07-01 2023-06-30 10253266 c:OfficeEquipment 2023-06-30 10253266 c:OfficeEquipment 2022-06-30 10253266 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10253266 c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10253266 c:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 10253266 c:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 10253266 c:CurrentFinancialInstruments 2023-06-30 10253266 c:CurrentFinancialInstruments 2022-06-30 10253266 c:Non-currentFinancialInstruments 2023-06-30 10253266 c:Non-currentFinancialInstruments 2022-06-30 10253266 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 10253266 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 10253266 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 10253266 c:Non-currentFinancialInstruments c:AfterOneYear 2022-06-30 10253266 c:ShareCapital 2023-06-30 10253266 c:ShareCapital 2022-06-30 10253266 c:RetainedEarningsAccumulatedLosses 2023-06-30 10253266 c:RetainedEarningsAccumulatedLosses 2022-06-30 10253266 d:FRS102 2022-07-01 2023-06-30 10253266 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10253266 d:FullAccounts 2022-07-01 2023-06-30 10253266 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10253266 c:HirePurchaseContracts c:WithinOneYear 2023-06-30 10253266 c:HirePurchaseContracts c:WithinOneYear 2022-06-30 10253266 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-06-30 10253266 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-06-30 10253266 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-06-30 10253266 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2022-06-30 10253266 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2023-06-30 10253266 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2022-06-30 10253266 c:LeasedAssetsHeldAsLessee 2023-06-30 10253266 c:LeasedAssetsHeldAsLessee 2022-06-30 10253266 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2022-07-01 2023-06-30 10253266 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 10253266









BBB FIVE LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
BBB FIVE LTD
REGISTERED NUMBER: 10253266

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
37,510
42,010

Tangible assets
 5 
195,073
221,739

  
232,583
263,749

Current assets
  

Stocks
  
24,918
25,000

Debtors: amounts falling due within one year
 6 
145,941
175,045

Cash at bank and in hand
  
8,876
202,195

  
179,735
402,240

Creditors: amounts falling due within one year
 7 
(200,316)
(515,515)

Net current liabilities
  
 
 
(20,581)
 
 
(113,275)

Total assets less current liabilities
  
212,002
150,474

Creditors: amounts falling due after more than one year
  
(171,315)
(172,575)

  

Net assets/(liabilities)
  
40,687
(22,101)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
40,587
(22,201)

  
40,687
(22,101)


Page 1

 
BBB FIVE LTD
REGISTERED NUMBER: 10253266

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider 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 directors acknowledge their 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 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 2 April 2024.




Richard Harpham
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
BBB FIVE LTD
 

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

1.


General information

BBB Five Ltd is a private company limited by shares incorporated in England and Wales with registration number 10253266. The Company’s registered office is Boom Battle Bar Oxford Street Ground Floor & Basement Level, 70-88 Oxford Street, London, United Kingdom, W1D 1BS.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

Having undertaken a detailed budgeting exercise, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and therefore have adopted the going concern basis of accounting in preparing the Financial Statements.

Page 3

 
BBB FIVE LTD
 

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

2.Accounting policies (continued)

 
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.

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.

 
2.4

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.

 
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.

Page 4

 
BBB FIVE LTD
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 ten years.

 
2.8

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:

Leasehold buildings
-
not depreciated
Plant and machinery
-
20%
straight-line
Fixtures and fittings
-
20%
straight-line
Office equipment
-
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.

 
2.9

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 first in, first out 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 5

 
BBB FIVE LTD
 

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

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

Page 6

 
BBB FIVE LTD
 

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

2.Accounting policies (continued)


2.13
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

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.

 
2.14

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 25 (2022 - 36).

Page 7

 
BBB FIVE LTD
 

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

4.


Intangible assets




Franchise fee

£



Cost


At 1 July 2022
45,010



At 30 June 2023

45,010



Amortisation


At 1 July 2022
3,000


Charge for the year on owned assets
4,500



At 30 June 2023

7,500



Net book value



At 30 June 2023
37,510



At 30 June 2022
42,010



Page 8

 
BBB FIVE LTD
 

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

5.


Tangible fixed assets





Leasehold buildings
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
69,595
11,155
140,023
13,104
233,877


Additions
-
-
7,413
-
7,413



At 30 June 2023

69,595
11,155
147,436
13,104
241,290



Depreciation


At 1 July 2022
-
834
10,157
1,147
12,138


Charge for the year on owned assets
-
2,231
28,571
3,277
34,079



At 30 June 2023

-
3,065
38,728
4,424
46,217



Net book value



At 30 June 2023
69,595
8,090
108,708
8,680
195,073



At 30 June 2022
69,595
10,321
129,866
11,957
221,739

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


2023
2022
£
£



Furniture, fittings and equipment
35,639
38,474

Office equipment
1,125
1,237

36,764
39,711


6.


Debtors

2023
2022
£
£


Trade debtors
445
1,606

Other debtors
58,861
880

Prepayments and accrued income
86,635
172,559

145,941
175,045


Page 9

 
BBB FIVE LTD
 

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
52,367
463,632

Other taxation and social security
42,723
17,884

Obligations under finance lease and hire purchase contracts
8,314
8,314

Other creditors
1,062
684

Accruals and deferred income
95,850
25,001

200,316
515,515


The following liabilities were secured:

2023
2022
£
£



Hire purchase
8,314
8,314

Details of security provided:

Hire purchase is secured on the assets financed.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Obligations under finance leases and hire purchase contracts
21,819
30,133

Other creditors
149,496
142,442

171,315
172,575


The following liabilities were secured:

2023
2022
£
£



Hire purchase
21,819
30,133

Details of security provided:

Hire purchase is secured on the assets financed.

Page 10

 
BBB FIVE LTD
 

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

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,314
8,314

Between 1-5 years
21,819
30,133

30,133
38,447


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 £4,008 (2022 - £293). Contributions totalling £1,062 (2022 - £683) were payable to the fund at the balance sheet date and are included in creditors.


11.


Post balance sheet events

On 1 November 2023 the Company became a wholly owned subsidiary of BBB Franchise Ltd.


Page 11