Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31096389902023-12-31002023-01-01true0truetrue 09638990 2023-01-01 2023-12-31 09638990 2022-01-01 2022-12-31 09638990 2023-12-31 09638990 2022-12-31 09638990 1 2023-01-01 2023-12-31 09638990 d:Director3 2023-01-01 2023-12-31 09638990 c:CurrentFinancialInstruments 2023-12-31 09638990 c:CurrentFinancialInstruments 2022-12-31 09638990 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09638990 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 09638990 c:ShareCapital 2023-12-31 09638990 c:ShareCapital 2022-12-31 09638990 c:SharePremium 2023-01-01 2023-12-31 09638990 c:SharePremium 2023-12-31 09638990 c:SharePremium 2022-12-31 09638990 c:CapitalRedemptionReserve 2023-01-01 2023-12-31 09638990 c:CapitalRedemptionReserve 2023-12-31 09638990 c:CapitalRedemptionReserve 2022-12-31 09638990 c:OtherMiscellaneousReserve 2023-01-01 2023-12-31 09638990 c:OtherMiscellaneousReserve 2023-12-31 09638990 c:OtherMiscellaneousReserve 2022-12-31 09638990 c:RetainedEarningsAccumulatedLosses 2023-12-31 09638990 c:RetainedEarningsAccumulatedLosses 2022-12-31 09638990 d:OrdinaryShareClass1 2023-01-01 2023-12-31 09638990 d:OrdinaryShareClass1 2022-01-01 2022-12-31 09638990 d:OrdinaryShareClass1 2023-12-31 09638990 d:OrdinaryShareClass1 2022-12-31 09638990 d:OrdinaryShareClass2 2023-01-01 2023-12-31 09638990 d:OrdinaryShareClass2 2022-01-01 2022-12-31 09638990 d:OrdinaryShareClass2 2023-12-31 09638990 d:OrdinaryShareClass2 2022-12-31 09638990 d:EntityHasNeverTraded 2023-01-01 2023-12-31 09638990 d:FRS102 2023-01-01 2023-12-31 09638990 d:Audited 2023-01-01 2023-12-31 09638990 d:FullAccounts 2023-01-01 2023-12-31 09638990 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09638990 c:Subsidiary1 2023-01-01 2023-12-31 09638990 c:Subsidiary1 1 2023-01-01 2023-12-31 09638990 c:Subsidiary2 2023-01-01 2023-12-31 09638990 c:Subsidiary2 1 2023-01-01 2023-12-31 09638990 c:Subsidiary3 2023-01-01 2023-12-31 09638990 c:Subsidiary3 1 2023-01-01 2023-12-31 09638990 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09638990 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure



















Blue Marble Micro Limited

Registered number: 09638990
Annual Report
For the year ended 31 December 2023

 
BLUE MARBLE MICRO LIMITED
REGISTERED NUMBER: 09638990

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Unaudited 2022
Note
$
$

Fixed assets
  

Fixed asset investments
 4 
21,376
1

  
21,376
1

Current assets
  

Debtors: amounts falling due within one year
 5 
2,616,035
3,082,713

Cash at bank
  
106,189
-

  
2,722,224
3,082,713

Creditors: amounts falling due within one year
 6 
(24,687)
(46,541)

Net current assets
  
 
 
2,697,537
 
 
3,036,172

Total assets less current liabilities
  
2,718,913
3,036,173

  

Net assets
  
2,718,913
3,036,173


Capital and reserves
  

Called up share capital 
 7 
54
54

Share premium account
 8 
1,874,993
1,874,993

Capital redemption reserve
 8 
31
31

Distribution reserve
 8 
9,443,794
9,443,794

Profit and loss account
 8 
(8,599,959)
(8,282,699)

Total equity
  
2,718,913
3,036,173


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: 


J D Whitelaw
Director

Date: 23 September 2024

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Blue Marble Micro Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 09638990. The address of its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU. 
The principal activity of the company is that of a holding company.
The prior year results are unaudited.

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.

These financial statements have been prepared in United States Dollars as this is the company's functional currency and the currency in which the company undertakes its major financial transactions and is rounded to the nearest dollar. 
The following principal accounting policies have been applied:

  
2.2

Consolidated financial statements

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

 
2.3

Going concern

The financial statements are prepared on a going concern basis. The company remains assured of the financial support provided by the shareholders. The directors have received confirmation that the shareholders will continue to support the company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for a period of at least twelve months from the approval of the financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Page 2

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is USD.

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 the Statement of Comprehensive Income.

All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost, less any impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment or provision. 

 
2.7

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 3

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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 Statement of Financial Position 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, 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 assets 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 assets 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 Statement of Comprehensive Income.
 
Page 4

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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 are initially measured at their transaction price after transaction costs.

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 instruments

Derecognition of financial assets

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.

Page 5

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in the Statement of Comprehensive 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 countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.


3.


Employees

The average monthly number of employees during the year was nil (2022: nil).
During the year, no directors (2022: no directors) were remunerated through Blue Marble Micro Insurance Inc, the subsidiary company for the services provided to this entity.

Page 6

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

$



Cost


At 1 January 2023
1


Additions
21,375



At 31 December 2023

21,376






Net book value



At 31 December 2023
21,376



At 31 December 2022
1


Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Blue Marble Microinsurance Inc. (incorporated in USA)
Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808, USA
Ordinary
100%
Blue Marble Micro Switzerland GmbH (incorporated in Switzerland)
Rotwegstrasse 2, 8810 Horgen, Switzerland
Ordinary
100%
Blue Marble Micro Kenya Ltd* (incorporated in Kenya)
Mirage Towers, Chiromo Road, Westlands, Nairobi, Kenya
Ordinary
100%

* Blue Marble Micro Kenya Limited is an indirect subsidiary undertaking of the company, as this entity is wholly owned by Blue Marble Microinsurance Inc. 

Page 7

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors: amounts falling due within one year

2023
Unaudited 2022
$
$


Amounts owed by group undertakings
2,613,266
3,058,657

Other debtors
-
21,375

Prepayments
2,769
2,681

2,616,035
3,082,713


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


6.


Creditors: amounts falling due within one year

2023
Unaudited 2022
$
$

Trade creditors
-
2,399

Accruals
24,687
44,142

24,687
46,541



7.


Called up share capital

2023
Unaudited 2022
$
$
Allotted, called up and fully paid



5,250 (2022: 5,250) ordinary shares of $0.01 each
53
53
1 (2022: 1) ordinary share of £1.00
1
1

54

54

Both classes of ordinary shares shall rank equally in all respects.


Page 8

 
BLUE MARBLE MICRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Reserves

Share premium account

This reserve represents the amount above the nominal value received for issued share capital, less transaction costs. The share premium of $1,874,993 arising from the issue of shares on 24 March 2022 was credited to the share premium account.
 
Distribution reserve

Amount paid for share buybacks are debited to the distribution reserve.

Capital redemption reserve

This reserve represents the nominal value of shares bought back.


9.


Related party transactions

The company has taken advantage of the exemption from disclosing related party transactions undertaken between wholly owned members of the group that have been concluded under normal market conditions. 


10.


Post balance sheet events

There have been no significant events affecting the company since the year end. 


11.


Controlling party

Due to the relative holdings of the shareholders, no single party is considered to have ultimate control of the company.


12.


Auditor's information

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

The audit report was signed on 23 September 2024 by Scott Jiggins (Senior Statutory Auditor) on behalf of Perrys Audit Limited.

Page 9