Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3100truefalse2023-01-013324true 03762049 2023-01-01 2023-12-31 03762049 2022-01-01 2022-12-31 03762049 2023-12-31 03762049 2022-12-31 03762049 c:Director1 2023-01-01 2023-12-31 03762049 d:FurnitureFittings 2023-01-01 2023-12-31 03762049 d:FurnitureFittings 2023-12-31 03762049 d:FurnitureFittings 2022-12-31 03762049 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03762049 d:OfficeEquipment 2023-01-01 2023-12-31 03762049 d:OfficeEquipment 2023-12-31 03762049 d:OfficeEquipment 2022-12-31 03762049 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03762049 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03762049 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 03762049 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 03762049 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 03762049 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 03762049 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 03762049 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 03762049 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 03762049 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 03762049 d:CurrentFinancialInstruments 2023-12-31 03762049 d:CurrentFinancialInstruments 2022-12-31 03762049 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03762049 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03762049 d:UKTax 2023-01-01 2023-12-31 03762049 d:UKTax 2022-01-01 2022-12-31 03762049 d:ShareCapital 2023-12-31 03762049 d:ShareCapital 2022-12-31 03762049 d:SharePremium 2023-01-01 2023-12-31 03762049 d:SharePremium 2023-12-31 03762049 d:SharePremium 2022-12-31 03762049 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03762049 d:RetainedEarningsAccumulatedLosses 2023-12-31 03762049 d:RetainedEarningsAccumulatedLosses 2022-12-31 03762049 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03762049 c:OrdinaryShareClass1 2023-12-31 03762049 c:OrdinaryShareClass1 2022-12-31 03762049 c:OrdinaryShareClass2 2023-01-01 2023-12-31 03762049 c:OrdinaryShareClass2 2023-12-31 03762049 c:OrdinaryShareClass2 2022-12-31 03762049 c:FRS102 2023-01-01 2023-12-31 03762049 c:Audited 2023-01-01 2023-12-31 03762049 c:FullAccounts 2023-01-01 2023-12-31 03762049 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03762049 d:WithinOneYear 2023-12-31 03762049 d:WithinOneYear 2022-12-31 03762049 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03762049 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03762049 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03762049 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03762049 2 2023-01-01 2023-12-31 03762049 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03762049 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03762049 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03762049 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03762049










BILENDI LIMITED

AUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023
 






 



 






 
BILENDI LIMITED
REGISTERED NUMBER:03762049

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
                                                                    Note
£
£

Fixed assets
  

Intangible assets
 6 
205,246
307,889

Tangible assets
 7 
25,532
14,142

  
230,778
322,031

Current assets
  

Debtors: amounts falling due within one year
 8 
3,774,571
3,665,409

Cash at bank and in hand
 9 
1,494,512
1,595,575

  
5,269,083
5,260,984

Creditors: amounts falling due within one year
 10 
(3,001,421)
(2,805,220)

Net current assets
  
 
 
2,267,662
 
 
2,455,764

Total assets less current liabilities
  
2,498,440
2,777,795

  

Net assets
  
2,498,440
2,777,795


Capital and reserves
  

Called up share capital 
 11 
966
966

Share premium account
 12 
-
2,626,499

Profit and loss account
 12 
2,497,474
150,330

  
2,498,440
2,777,795


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 




................................................
Mr M P M Bidou
Director

Date: 24 September 2024

The notes on pages 2 to 11 form part of these financial statements.
Page 1

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Bilendi Limited is a private company, limited by shares and incorporated in England and Wales, registered number 03762049. The address of the registered office is 8 Holyrood Street, London, SE1 2EL.

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 are presented in sterling, which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102 The Financial Reporting Standard applicable in the UK and Republic or Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Going concern

The company has shown a net asset position for both the current and prior year accounts. Further to this, the company has shown profit for both current and prior years, and with £1.5m in the bank the company is able to meet its liabilities as they fall due. Based upon the trading forecast, the Company expects to generate a profit in the coming year. Furthermore, the organisation benefits from the security of being a wholly owned subsidiary of the Bilendi SA group, which has agreed to support the company for the foreseeable future. The director considers it appropriate therefore to prepare the financial statements on a going concern basis.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

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 Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
BILENDI LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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:

Income relating to loyalty points is recognised when points are issued.
Income relating to surveys and panels is recognised when the surveys have been completed by their members.
Income relating to surveys outsourced to third parties is recognised when the survey has actually been performed.
Income relating to the construction of reward systems is recognised at agreed milestones stated in the contract.
Income relating to campaigns is recognised on a monthly basis based on the services performed.
Management fees are invoiced monthly based on an agreed contract rate.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

 
2.7

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.8

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 the Statement of Income and Retained Earnings 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.

 
2.9

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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.

Page 3

 
BILENDI LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

 The estimated useful lives range as follows:

Database
-
12 months straight line
Other
-
3 - 5 years straight line

 
2.11

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Fixtures and fittings
-
Over 2 to 5 years
Office equipment
-
Over 2 to 4 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 profit or loss.

 
2.12

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.

Page 4

 
BILENDI LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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.

  
2.14

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 and to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

  
2.15

Creditors

Short term creditors are measured at 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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

There are no judgements when applying the accounting policies that have a significant effect on the amounts recognised in the financial statements.
Key sources of estimation:
The company provides an estimate for the cost of loyalty points. The accrual is based upon an average conversion rate and unit cost using historical data. At the year end this accrual amounted to £546,381 (2022 - £508,746).


4.


Employees

The average monthly number of employees, including directors, during the year was 33 (2022 - 24).


5.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
67,793
41,866


Total current tax
67,793
41,866

Deferred tax

Total deferred tax
-
-


Taxation on profit on ordinary activities
67,793
41,866
Page 6

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
5.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2022 - the same as) the standard rate of corporation tax in the UK of 25% (2022 - 19%) as set out below:

2023
2022
£
£


Profit on ordinary activities before tax
288,437
359,481


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2022 - 19%)
72,109
68,301

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
2,048
699

Capital allowances for year in excess of depreciation
(3,367)
996

Super deduction - capital allowances
(3,676)
(434)

Short-term timing difference leading to an increase (decrease) in taxation
679
296

Unrelieved tax losses carried forward
-
(27,992)

Total tax charge for the year
67,793
41,866


Factors that may affect future tax charges

In October 2022, the Chancellor announced an increase in the corporation tax rate from 19% to 25% with
effect from 1 April 2023.

Page 7

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Intangible assets




Database
Domain name
Other
Total

£
£
£
£



Cost


At 1 January 2023
691,137
13,748
224,271
929,156


Additions
595,432
-
11,863
607,295



At 31 December 2023

1,286,569
13,748
236,134
1,536,451



Amortisation


At 1 January 2023
395,346
13,748
212,174
621,268


Charge for the year on owned assets
705,905
-
4,033
709,938



At 31 December 2023

1,101,251
13,748
216,207
1,331,206



Net book value



At 31 December 2023
185,318
-
19,927
205,245



At 31 December 2022
295,792
-
12,098
307,890



Page 8

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
53,237
96,873
150,110


Additions
5,200
21,554
26,754



At 31 December 2023

58,437
118,427
176,864



Depreciation


At 1 January 2023
52,893
83,075
135,968


Charge for the year on owned assets
1,399
13,965
15,364



At 31 December 2023

54,292
97,040
151,332



Net book value



At 31 December 2023
4,145
21,387
25,532



At 31 December 2022
344
13,798
14,142


8.


Debtors

2023
2022
£
£


Trade debtors
2,637,861
2,444,896

Amounts owed by group undertakings
949,513
1,057,389

Other debtors
54,276
23,453

Prepayments and accrued income
132,921
139,671

3,774,571
3,665,409



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,494,512
1,595,575


Page 9

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
159,185
139,092

Amounts owed to group undertakings
804,482
687,720

Corporation tax
67,793
41,866

Other taxation and social security
214,627
286,727

Other creditors
590,965
510,305

Accruals and deferred income
1,164,369
1,139,510

3,001,421
2,805,220



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



17,328 (2022 - 17,328) Ordinary A shares of £0.050000 each
866
866
199,311 (2022 - 199,320) Ordinary B shares of £0.000500 each
100
100

966

966



12.


Reserves

Share premium account

The share premium account represents the premium arising on the issue of shares, net of issue costs.

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends and other adjustments.


13.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
7,083

-
7,083

Page 10

 
BILENDI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Related party transactions

The Company has taken exemption under FRS 102 (1A) section 33 not to disclose transactions and balances with its parent company and fellow subsidiaries on the basis it is a wholly owned subsidiary.


15.


Parent company

Bilendi SA is the parent company and is a company registered in France. The registered office address and principal place of business is 3, rue d' Uzes, 75002 Paris.
The smallest group in which the results of the company are consolidated is that headed by Bilendi SA. The consolidated accounts are available to the public at the registered office of the parent company.


16.


Auditors' information

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

The audit report was signed on 24 September 2024 by Mark Nelligan FCA (senior statutory auditor) on behalf of Wellden Turnbull Limited.


Page 11