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Registration number: 03870893

Bubble Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Bubble Group Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bubble Group Limited

Company Information
__________________________________________________________________________

Directors

J D Platt

P Hoyland

Registered office

28 Ashley Lane
Hendon
London
NW4 1HG


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Bubble Group Limited

(Registration number: 03870893)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

3

 

262

 

350

Investments

4

 

1,200

 

1,200

   

1,462

 

1,550

Current assets

   

 

Debtors

5

7,571

 

40,171

 

Cash at bank and in hand

 

22,693

 

29,624

 

 

30,264

 

69,795

 

Creditors: Amounts falling due within one year

6

(13,769)

 

(3,369)

 

Net current assets

   

16,495

 

66,426

Net assets

   

17,957

 

67,976

Capital and reserves

   

 

Called up share capital

7

1,500

 

1,500

 

Retained earnings

16,457

 

66,476

 

Shareholders' funds

   

17,957

 

67,976

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

 

Bubble Group Limited

(Registration number: 03870893)
Balance Sheet as at 31 December 2023
__________________________________________________________________________



P Hoyland

Director

 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and equipment

25% on reducing balance basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

49,820

49,820

At 31 December 2023

49,820

49,820

Depreciation

At 1 January 2023

49,470

49,470

Charge for the year

88

88

At 31 December 2023

49,558

49,558

Carrying amount

At 31 December 2023

262

262

At 31 December 2022

350

350

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,200

1,200

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,200

Provision

Carrying amount

At 31 December 2023

1,200

At 31 December 2022

1,200

 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Bubble Consulting Ltd

28 Ashley Lane, London, NW4 1HG

Ordinary

100%

100%

Subsidiary undertakings

Bubble Consulting Ltd

The principal activity of Bubble Consulting Ltd is currently none, with Company being Dormant..

5

Debtors

Current

2023
£

2022
£

Other debtors

7,571

40,171

 

7,571

40,171

 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

13,769

3,369

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

'A' Ordinary of £1 each

1,500

1,500

1,500

1,500

       
 

Bubble Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

8

Related party transactions

Summary of transactions with other related parties

Bubble Ltd, a company controlled by common Directors
Bubble Innovator Ltd, a company controlled by Bubble Ltd by virtue of 96% Shareholding and controlled by common Directors

 During the year, Bubble Ltd charged Bubble Group Ltd management fees to the the value of £50,000 (2022: Bubble Group Ltd charged Bubble Ltd management fee of £(35,000)).
At the balance sheet date the amount due from Bubble Ltd was £(10,400) (2022 - £32,600).

At the balance sheet date the amount due from Bubble Innovator Ltd was £7,572 (2022: £7,572).