Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13980165 2023-04-01 2024-03-31 13980165 2022-04-01 2023-03-31 13980165 2024-03-31 13980165 2023-03-31 13980165 c:Director1 2023-04-01 2024-03-31 13980165 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 13980165 d:FreeholdInvestmentProperty 2024-03-31 13980165 d:CurrentFinancialInstruments 2024-03-31 13980165 d:CurrentFinancialInstruments 2023-03-31 13980165 d:Non-currentFinancialInstruments 2024-03-31 13980165 d:Non-currentFinancialInstruments 2023-03-31 13980165 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13980165 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13980165 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13980165 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13980165 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 13980165 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 13980165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 13980165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13980165 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 13980165 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 13980165 d:ShareCapital 2024-03-31 13980165 d:ShareCapital 2023-03-31 13980165 d:RetainedEarningsAccumulatedLosses 2024-03-31 13980165 d:RetainedEarningsAccumulatedLosses 2023-03-31 13980165 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13980165 c:OrdinaryShareClass1 2024-03-31 13980165 c:OrdinaryShareClass1 2023-03-31 13980165 c:FRS102 2023-04-01 2024-03-31 13980165 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13980165 c:FullAccounts 2023-04-01 2024-03-31 13980165 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13980165 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13980165









OUR BUBBLE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
OUR BUBBLE LIMITED
REGISTERED NUMBER: 13980165

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
219,026
-

  
219,026
-

Current assets
  

Debtors
  
-
400

Cash at bank and in hand
 5 
7,270
41,026

  
7,270
41,426

Creditors: amounts falling due within one year
 6 
(77,022)
(42,336)

Net current liabilities
  
 
 
(69,752)
 
 
(910)

Total assets less current liabilities
  
149,274
(910)

Creditors: amounts falling due after more than one year
  
(157,281)
-

  

Net liabilities
  
(8,007)
(910)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(8,107)
(1,010)

  
(8,007)
(910)


The director considers 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 director acknowledges his 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: 


Page 1

 
OUR BUBBLE LIMITED
REGISTERED NUMBER: 13980165
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Gokhan Hurum
Director
Date: 12 September 2024

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

Page 2

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Our Bubble Limited is a private company limited by share capital, incorporated in England and Wales, registration number 13980165. The address of the registered office is 291 Green Lanes, Palmers Green, London, N13 4XS.

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

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

 
2.3

Revenue

Turnover comprises of rents received by the company during the year.
Turnover is recognised in the period the rent relates to.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

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.

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,
Page 3

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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.

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 assets
Page 4

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)


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.

 
2.8

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.

 
2.9

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.

 
2.10

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 year was 1 (2023 - 1).

Page 5

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
219,026



At 31 March 2024
219,026

The 2024 valuations were made by the Director, on a fair value basis.








5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,270
41,026

7,270
41,026



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,671
-

Trade creditors
586
386

Other creditors
73,865
41,350

Accruals and deferred income
900
600

77,022
42,336


Page 6

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
157,281
-

157,281
-



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
1,671
-


1,671
-

Amounts falling due 1-2 years

Bank loans
1,762
-


1,762
-

Amounts falling due 2-5 years

Bank loans
5,856
-


5,856
-

Amounts falling due after more than 5 years

Bank loans
149,663
-

149,663
-

158,952
-


Bank loans of £158,952 are secured by way of a charge over the Company's investment properties.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



Page 7

 
OUR BUBBLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.Share capital (continued)

100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

Included within Other Creditors due in less than 1 year is a loan amount of £73,866 (2023: £41,351) due to the company director. The loan is unsecured, free of interest and repayable on demand.

 
Page 8