Caseware UK (AP4) 2023.0.135 2023.0.135 40truefalse422023-03-01No description of principal activitytrue 08209657 2023-03-01 2024-02-29 08209657 1 2023-03-01 2024-02-29 08209657 2022-03-01 2023-02-28 08209657 2024-02-29 08209657 2023-02-28 08209657 d:Director4 2023-03-01 2024-02-29 08209657 c:Buildings c:LongLeaseholdAssets 2023-03-01 2024-02-29 08209657 c:Buildings c:LongLeaseholdAssets 2024-02-29 08209657 c:Buildings c:LongLeaseholdAssets 2023-02-28 08209657 c:FurnitureFittings 2023-03-01 2024-02-29 08209657 c:FurnitureFittings 2024-02-29 08209657 c:FurnitureFittings 2023-02-28 08209657 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08209657 c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08209657 c:CurrentFinancialInstruments 2024-02-29 08209657 c:CurrentFinancialInstruments 2023-02-28 08209657 c:Non-currentFinancialInstruments 2024-02-29 08209657 c:Non-currentFinancialInstruments 2023-02-28 08209657 c:CurrentFinancialInstruments c:WithinOneYear 2024-02-29 08209657 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 08209657 c:ShareCapital 2024-02-29 08209657 c:ShareCapital 2023-02-28 08209657 c:RetainedEarningsAccumulatedLosses 2024-02-29 08209657 c:RetainedEarningsAccumulatedLosses 2023-02-28 08209657 d:FRS102 2023-03-01 2024-02-29 08209657 d:Audited 2023-03-01 2024-02-29 08209657 d:FullAccounts 2023-03-01 2024-02-29 08209657 d:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 08209657 d:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08209657 c:AcceleratedTaxDepreciationDeferredTax 2024-02-29 08209657 c:AcceleratedTaxDepreciationDeferredTax 2023-02-28 08209657 c:TaxLossesCarry-forwardsDeferredTax 2024-02-29 08209657 c:TaxLossesCarry-forwardsDeferredTax 2023-02-28 08209657 c:RetirementBenefitObligationsDeferredTax 2024-02-29 08209657 c:RetirementBenefitObligationsDeferredTax 2023-02-28 08209657 2 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure


















Bimba & Lola UK, Ltd
























Financial statements



For the year ended 29 February 2024



Registered number: 08209657

 
Bimba & Lola UK, Ltd - Registered number:08209657


Statement of financial position
As at 29 February 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,263,588
1,566,475

  
2,263,588
1,566,475

Current assets
  

Stocks
  
569,767
939,411

Debtors
 5 
2,830,658
1,941,491

Cash at bank and in hand
  
386,596
392,732

  
3,787,021
3,273,634

Creditors: amounts falling due within one year
 6 
(4,262,933)
(3,155,715)

Net current (liabilities)/assets
  
 
 
(475,912)
 
 
117,919

Total assets less current liabilities
  
1,787,676
1,684,394

Provisions for liabilities
  

Deferred tax
 7 
(209,742)
(88,190)

  
 
 
(209,742)
 
 
(88,190)

Net assets
  
1,577,934
1,596,204


Capital and reserves
  

Share capital
  
3,395,639
3,395,639

Profit and loss account
  
(1,817,705)
(1,799,435)

  
1,577,934
1,596,204


Page 1

 
Bimba & Lola UK, Ltd - Registered number:08209657


Statement of financial position (continued)
As at 29 February 2024

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: 




................................................
Jose Manuel Martinez
Director

Date: 21 August 2024

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

Page 2

 
Bimba & Lola UK, Ltd
 
 

Notes to the financial statements
For the year ended 29 February 2024

1.


General information

Bimba and Lola UK, Ltd is a private company limited by shares and incorporated in England and Wales. The registered office address is 130 Wood Street, London, EC2V 6DL. The company's principal place of business cannot be confined to a single place, due to business occurring in several stores in the UK. The registered number of the company is 08209657.

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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:
Sale of goods
Turnover 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 turnover 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.

Page 3

 
Bimba & Lola UK, Ltd
 

Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

  
2.3

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.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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 property   - Amortised over the lease term
Fixtures, fittings and equipment - Amortised over 10 years

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 the Statement of comprehensive income.

 
2.4

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 reporting 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.

 
2.5

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.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Bimba & Lola UK, Ltd
 

Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.7

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 non-puttable ordinary shares.

 
2.8

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 within 'other operating income'.

 
2.9

Operating leases

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.

 
2.10

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
Bimba & Lola UK, Ltd
 

Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of copmprehensive income 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 reporting date in the countires where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 42 (2023 - 40).

Page 6

 
Bimba & Lola UK, Ltd
 
 

Notes to the financial statements
For the year ended 29 February 2024

4.


Tangible fixed assets







Leasehold property
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
1,110,505
2,149,162
3,259,667


Additions
-
1,128,838
1,128,838


Disposals
(8,378)
(232,722)
(241,100)



At 29 February 2024

1,102,127
3,045,278
4,147,405



Depreciation


At 1 March 2023
928,936
764,256
1,693,192


Charge for the year
89,927
269,602
359,529


Disposals
(7,960)
(160,944)
(168,904)



At 29 February 2024

1,010,903
872,914
1,883,817



Net book value



At 29 February 2024
91,224
2,172,364
2,263,588



At 28 February 2023
181,569
1,384,906
1,566,475

Page 7

 
Bimba & Lola UK, Ltd
 
 

Notes to the financial statements
For the year ended 29 February 2024

5.


Debtors


2024
2023
£
£

Due after more than one year

Other debtors
718,426
493,426

718,426
493,426

Due within one year

Trade debtors
127,531
287,986

Amounts owed by group undertakings
48,029
152,713

Other debtors
296,373
166,138

Prepayments and accrued income
1,640,299
841,228

2,830,658
1,941,491


Other debtors due after more than one year are related to rental deposits.


6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
148,282
208,384

Amounts owed to group undertakings
3,361,506
2,625,097

Other taxation and social security
132,897
121,501

Other creditors
7,322
7,161

Accruals
612,926
193,572

4,262,933
3,155,715


Page 8

 
Bimba & Lola UK, Ltd
 
 

Notes to the financial statements
For the year ended 29 February 2024

7.


Deferred taxation






2024


£



At beginning of year
(88,190)


Charged to profit or loss
(121,552)



At end of year
(209,742)

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(270,703)
(88,190)

Short term timing differences
664
-

Losses and other deductions
60,297
-

(209,742)
(88,190)


8.


Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with the immediate parent company or any wholly owned subsidiary undertakings of the group headed by Bimba & Lola, S.L.U.


9.


Controlling party

The company is a wholly owned subsidiary of Bimba & Lola, S.L.U., a company incorporated in Spain. 
The largest and smallest group of undertakings for which consolidated financial statements are prepared, which include the company, is headed by Bimba & Lola Studio, S.L.
Group financial statements are available at Camino do Casal No. 6, 36416 MOS, Pontevedra, Spain.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 27 August 2024 by Simon Wax (Senior statutory auditor) on behalf of Buzzacott LLP 120 Wood Street, London EC2V 6DL.


Page 9