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Registered number: 08665050









BASECONE LTD.









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BASECONE LTD.
 
 
COMPANY INFORMATION


Directors
K I Renshaw 
Wolters Kluwer Tax and Accounting Technology  B.V. (formerly Basecone Holding B.V.) 




Registered number
08665050



Registered office
145 London Road
Kingston Upon Thames

Surrey

KT2 6SR




Independent auditors
Ecovis Wingrave Yeats LLP

Chartered Accountants & Statutory Auditors

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
BASECONE LTD.
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 5


 
BASECONE LTD.
REGISTERED NUMBER: 08665050

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,151,643
1,051,892

Cash at bank and in hand
  
17,670
156,427

  
1,169,313
1,208,319

Creditors: amounts falling due within one year
 6 
(662,462)
(683,668)

Net current assets
  
 
 
506,851
 
 
524,651

Total assets less current liabilities
  
506,851
524,651

  

Net assets
  
506,851
524,651


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
506,850
524,650

  
506,851
524,651


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 31 July 2024.






K I Renshaw
Director

Page 1

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Basecone Ltd. is a private company, limited by shares, incorporated in England and Wales, registration number 08665050. The registered office is 145 London Road, Kingston Upon Thames, Surrey, KT2 6SR.

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

It is the intention of the Directors to liquidate the company within 12 months following the approval of these financial statements. As a result, these financial statements have been prepared on a break-up basis.
There has been no impact on the financial statements as a result of this decision. The Directors are satisfied that the financial statements are presented truly and fairly, and all assets and liabilities are valued appropriately, considering the fact that the company is not a going concern at the date of approval of these financial statements.


 
2.3

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.

 
2.4

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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.
Page 2

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.6

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.


3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2023
2022
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
8,000
7,350

Fees payable to the Company's auditors and their associates in respect of:

Taxation compliance services
2,000
1,825

All non-audit services not included above
2,900
2,750

Page 3

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Employees

The Company has no employees other than the directors in the current or prior year.


5.


Debtors

2023
2022
£
£


Trade debtors
40,139
32,301

Amounts owed by group undertakings
1,106,262
1,017,453

Other debtors
5,242
2,138

1,151,643
1,051,892


Amounts owed by group undertakings are unsecured, interest free and payable on demand. 


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
609,651
648,475

Accruals and deferred income
52,811
35,193

662,462
683,668


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Related party transactions

Basecone Ltd have taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions between two or more members of a group, provided that they are a wholly owned subsidiary. 

Page 4

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Controlling party

The immediate parent company is Wolters Kluwer Tax and Accounting Technology B.V (formerly Basecone Holding B.V.), a company registered in The Netherlands.
The ultimate parent company is Wolters Kluwer N.V., a company also registered in The Netherlands. Wolters Kluwer N.V., is the only company to consolidate these financial statements. Copies of the Wolters Kluwer N.V. consolidated financial statements can be obtained from P.O. Box 1030, 2400 BA Alphen aan den Rijn, The Netherlands.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

In their report, the auditors emphasised that following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements, which indicates that these financial statements have not been prepared on a going concern basis. A full description of the events giving rise to the Company not being a going concern has been included in note 2.2, as has its effect on accounting policies and accounting adjustments. We have considered the adequacies of the disclosures made in the financial statements, and our audit opinion is not modified in the respect of the matter.

The audit report was signed on 31 July 2024 by Gerard Collins (Senior statutory auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 5