Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-04-01false64999 - Financial intermediation not elsewhere classified88falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12655951 2023-04-01 2023-12-31 12655951 2023-12-31 12655951 2022-04-01 2023-03-31 12655951 2023-03-31 12655951 c:Director1 2023-04-01 2023-12-31 12655951 d:Goodwill 2023-04-01 2023-12-31 12655951 d:Goodwill 2023-12-31 12655951 d:Goodwill 2023-03-31 12655951 d:CurrentFinancialInstruments 2023-12-31 12655951 d:CurrentFinancialInstruments 2023-03-31 12655951 d:Non-currentFinancialInstruments 2023-12-31 12655951 d:Non-currentFinancialInstruments 2023-03-31 12655951 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12655951 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12655951 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12655951 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12655951 d:ShareCapital 2023-12-31 12655951 d:ShareCapital 2023-03-31 12655951 d:RetainedEarningsAccumulatedLosses 2023-12-31 12655951 d:RetainedEarningsAccumulatedLosses 2023-03-31 12655951 c:FRS102 2023-04-01 2023-12-31 12655951 c:AuditExempt-NoAccountantsReport 2023-04-01 2023-12-31 12655951 c:FullAccounts 2023-04-01 2023-12-31 12655951 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 12655951 2 2023-04-01 2023-12-31 12655951 6 2023-04-01 2023-12-31 12655951 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2023-12-31 12655951 e:PoundSterling 2023-04-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 12655951


MB PRIVATE OFFICE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
MB PRIVATE OFFICE LTD
REGISTERED NUMBER: 12655951

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,099,723
1,218,970

Investments
 5 
2,500
2,500

  
1,102,223
1,221,470

Current assets
  

Debtors: amounts falling due after more than one year
 6 
17,835
17,835

Debtors: amounts falling due within one year
 6 
55,039
71,849

Cash at bank and in hand
 7 
117,343
225,957

  
190,217
315,641

Creditors: amounts falling due within one year
 8 
(89,639)
(99,634)

Net current assets
  
 
 
100,578
 
 
216,007

Total assets less current liabilities
  
1,202,801
1,437,477

Creditors: amounts falling due after more than one year
  
(878,826)
(1,118,463)

  

Net assets
  
323,975
319,014


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
273,975
269,014

  
323,975
319,014


Page 1

 
MB PRIVATE OFFICE LTD
REGISTERED NUMBER: 12655951
    
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 period 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 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 by: 




Simon Bullock
Director

Date: 11 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

1.


General information

MB Private Office Ltd, a company limited by shares, is a limited company incorporated in England 
and Wales and has its registered office and principal place of business at 3rd Floor, 
27 Greville Street, London, EC1N 8TN.

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 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

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.

 
2.4

Interest income

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

Page 3

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)

 
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.

 
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

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.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

 Amortisation is provided on the following bases:

Goodwill
-
10%
Straight line

Page 4

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2023 - 8).

Page 5

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

4.


Intangible assets






Goodwill

£



Cost


At 1 April 2023
1,589,961



At 31st December 2023

1,589,961



Amortisation


At 1 April 2023
370,991


Charge for the period on owned assets
119,247



At 31st December 2023

490,238



Net book value



At 31st December 2023
1,099,723



At 31st March 2023
1,218,970




5.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 1 April 2023
2,500



At 31st December 2023
2,500





6.


Debtors

31 December
31 March
2023
2023
£
£

Due after more than one year
Page 6

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

6.Debtors (continued)


Other debtors
17,835
17,835

17,835
17,835


31 December
31 March
2023
2023
£
£

Due within one year

Other debtors
2,952
399

Prepayments and accrued income
52,087
71,450

55,039
71,849



7.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
117,343
225,957

117,343
225,957



8.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Trade creditors
556
2,266

Corporation tax
45,891
92,860

Other taxation and social security
23,225
-

Other creditors
8,206
3,135

Accruals and deferred income
11,761
1,373

89,639
99,634


Page 7

 
MB PRIVATE OFFICE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

31 December
31 March
2023
2023
£
£

Other creditors
878,826
1,118,463

878,826
1,118,463



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 £110,174 (2023 - £39,983). Contributions totalling £7,166 (2023 - £1,881) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8