Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseInternet providers22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13761072 2023-01-01 2023-12-31 13761072 2021-11-23 2022-12-31 13761072 2023-12-31 13761072 2022-12-31 13761072 c:CompanySecretary1 2023-01-01 2023-12-31 13761072 c:Director1 2023-01-01 2023-12-31 13761072 c:Director2 2023-01-01 2023-12-31 13761072 c:RegisteredOffice 2023-01-01 2023-12-31 13761072 d:ComputerEquipment 2023-01-01 2023-12-31 13761072 d:ComputerEquipment 2023-12-31 13761072 d:ComputerEquipment 2022-12-31 13761072 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13761072 d:ComputerSoftware 2023-12-31 13761072 d:ComputerSoftware 2022-12-31 13761072 d:CurrentFinancialInstruments 2023-12-31 13761072 d:CurrentFinancialInstruments 2022-12-31 13761072 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13761072 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13761072 d:ShareCapital 2023-12-31 13761072 d:ShareCapital 2022-12-31 13761072 d:RetainedEarningsAccumulatedLosses 2023-12-31 13761072 d:RetainedEarningsAccumulatedLosses 2022-12-31 13761072 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13761072 c:OrdinaryShareClass1 2023-12-31 13761072 c:OrdinaryShareClass1 2022-12-31 13761072 c:FRS102 2023-01-01 2023-12-31 13761072 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13761072 c:FullAccounts 2023-01-01 2023-12-31 13761072 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13761072 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 13761072 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13761072












REBEL BROADBAND UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

REBEL BROADBAND UK LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 11


 

REBEL BROADBAND UK LIMITED
 
COMPANY INFORMATION


Directors
A George 
D Groth 




Company secretary
Taylor Wessing Secretaries Limited



Registered number
13761072



Registered office
5 New Street Square

London

EC4A 3TW




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:13761072
REBEL BROADBAND UK LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
368,519
183,362

Tangible assets
 5 
190,894
129,772

  
559,413
313,134

Current assets
  

Debtors: amounts falling due within one year
 6 
86,849
129,940

Bank and cash balances
  
90,692
742,524

  
177,541
872,464

Creditors: amounts falling due within one year
 7 
(1,861,479)
(1,565,363)

Net current liabilities
  
 
 
(1,683,938)
 
 
(692,899)

Total assets less current liabilities
  
(1,124,525)
(379,765)

  

Net liabilities
  
(1,124,525)
(379,765)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(1,124,625)
(379,865)

Total deficit
  
(1,124,525)
(379,765)


Page 2


 
REGISTERED NUMBER:13761072
REBEL BROADBAND UK LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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: 




A George
Director

Date: 13 August 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

REBEL BROADBAND UK LIMITED

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

1.


General information

Rebel Broadband UK Limited is a private company limited by shares incorporated in England and Wales.  The address of its registered office is 5 New Street Square, London, EC4A 3TW.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has received a letter of financial support from its parent company.

 
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:

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.

Page 4

 

REBEL BROADBAND UK LIMITED

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

2.Accounting policies (continued)

 
2.4

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.

Amortisation is provided on the following basis:
          Software -  5 years
          Website -  5 years

 
2.5

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:

Computer equipment
-
25%

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.

 
2.6

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
The Company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any
Page 5

 

REBEL BROADBAND UK LIMITED

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

2.Accounting policies (continued)


2.6
Financial instruments (continued)

impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets 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. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Page 6

 

REBEL BROADBAND UK LIMITED

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

2.Accounting policies (continued)

 
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. 

  
2.8

Share capital

Ordinary shares are classified as equity.

 
2.9

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 profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

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.

 
2.11

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 7

 

REBEL BROADBAND UK LIMITED

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

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss.
Current tax is the amount of income tax payable in respect of taxable profit for the year.

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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

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.


3.


Employees

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

Page 8

 

REBEL BROADBAND UK LIMITED

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

4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
192,202


Additions
260,698



At 31 December 2023

452,900



Amortisation


At 1 January 2023
8,840


Charge for the year
75,541



At 31 December 2023

84,381



Net book value



At 31 December 2023
368,519



At 31 December 2022
183,362



Page 9

 

REBEL BROADBAND UK LIMITED

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

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
163,950


Additions
128,109



At 31 December 2023

292,059



Depreciation


At 1 January 2023
34,178


Charge for the year
66,987



At 31 December 2023

101,165



Net book value



At 31 December 2023
190,894



At 31 December 2022
129,772

Page 10

 

REBEL BROADBAND UK LIMITED

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

6.


Debtors

2023
2022
£
£


Trade debtors
3,306
55

Other debtors
16,548
31,441

Prepayments
66,995
98,444

86,849
129,940



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
48,293
95,910

Amounts owed to group undertakings
1,587,896
1,248,981

Other taxation and social security
731
-

Other creditors
218,559
215,472

Accruals
6,000
5,000

1,861,479
1,565,363



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000,000 (2022 - 10,000,000) Ordinary shares of £0.000010 each
100
100



9.


Related party transactions

During the year, the company incurred costs totalling £144,000 (2022: £84,000) from an entity controlled by a director for consultancy and assistance provided in running the company.
Included in creditors is a balance of £1,587,896 (2022: £1,248,981) due to the parent company. This amount bears interest of 0.97% on the outstanding balance and recoverable on demand.
Included in other creditors is a balance of £215,472 (2022: £215,472) to the directors. This amount is interest free,  unsecured and recoverable on demand.

 
Page 11