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Years2023-12-3106797461ns5:BetweenOneFiveYears2022-12-3106797461ns5:MoreThanFiveYears2023-12-3106797461ns5:MoreThanFiveYears2022-12-3106797461ns5:AllPeriods2023-12-3106797461ns5:AllPeriods2022-12-3106797461ns5:DeferredTaxation2022-12-3106797461ns5:DeferredTaxation2023-12-3106797461ns10:OrdinaryShareClass12023-12-3106797461ns5:RetainedEarningsAccumulatedLosses2022-12-3106797461ns5:CapitalRedemptionReserve2022-12-31

REGISTERED NUMBER: 06797461 (England and Wales)














Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2023


for



Blue Square Marketing Limited


Blue Square Marketing Limited (Registered number: 06797461)







Contents of the Financial Statements

for the Year Ended 31 December 2023





Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

4




Report of the Independent Auditors  

6




Income Statement  

10




Other Comprehensive Income  

11




Balance Sheet  

12




Statement of Changes in Equity  

13




Cash Flow Statement  

14




Notes to the Cash Flow Statement  

15




Notes to the Financial Statements

17




Blue Square Marketing Limited


Company Information

for the Year Ended 31 December 2023









DIRECTORS:

N G Avery


A Leaver


N B S Grimson







REGISTERED OFFICE:

Tate House


Watermark Way


Hertford


Hertfordshire


SG13 7TZ







REGISTERED NUMBER:

06797461 (England and Wales)







AUDITORS:

Roy Pinnock & Co LLP


Statutory Auditors


Wren House


68 London Road


St Albans


Hertfordshire


AL1 1NG


Blue Square Marketing Limited (Registered number: 06797461)


Strategic Report

for the Year Ended 31 December 2023


The directors present their strategic report for the year ended 31 December 2023.


Blue Square continued to provide strategic and tactical marketing services to merchandise, promote and conduct training on its client's products.


REVIEW OF BUSINESS

In 2023 Blue Square continued to maintain its core business alongside achieving growth in its customer base.


During 2023 revenue remained broadly consistent to 2022. Our core teams were operating in business-as-usual patterns. In addition, our offering to clients were developed into new services from prior years learning. Turnover decreased by 2% to £28.7m (2022: £29.4m). With significant investment into developing service offering in 2023, Blue Square achieved a Pre-Tax profit of £1.25m (2022: £1.64m).


Blue Square reviews the on-going performance of the business using key performance indicators, measurement includes revenue, profit, employer of choice, retention, budget control, cost efficiency analysis and margin analysis. Within the commercial model throughout 2023 Blue Square operated risk and reward fee model, attached to meeting agreed service levels. If the key performance indicators are not met a service credit against fee would be raised.


The Directors throughout 2023 monitored cash flow to ensure that projected financing needs were supported by cash reserves. The Directors will continue to manage cash with great focus to ensure service delivery success.


Blue Square continues with its people pulse program to collect feedback from our teams on how they feel about their role and their company. Offering out this opportunity to our people has given us great insight to what our teams think. The voice of our team is vital to be shared back, which helps shape company behaviours aligned to our values at present and future years.


The Directors outlook for 2024 is that revenue will grow above 2023 levels.


Blue Square will continue to invest in its people, operations and in the development of other service offerings, which create a wider breadth of services available to our client's.


PRINCIPAL RISKS AND UNCERTAINTIES

The principle risks include uncertainty surrounding client's future business investment strategy. Other risks include operating in a highly competitive market environment, where the speed of technology advancement and changing customer shopping habits mean that the Field Marketing industry as it was known is shrinking and evolving into something more customer focused. To mitigate against these risks, Blue Square have continued investment into our award-winning teams to create the best outcomes for our clients. Investment in field team talent with ongoing development working toward proven strategies ensures a strong position to manage controllable risk.


POLICIES

Blue Square operates several employment related policies including equal opportunities policy, health and safety policy, dignity at work policy and family friendly policy. Having policies in place ensures that all employment related needs can be managed accordingly and effectively.



Blue Square Marketing Limited (Registered number: 06797461)


Strategic Report

for the Year Ended 31 December 2023


ENVIRONMENT & SOCIAL POLICY

Bluesquare is committed to help improve the environment by:

-Continuously improving the environmental performance and to put best practice into the business operations.

-Reduce the consumption of resources and improve the efficiency of those we use.

-Reduce the carbon footprint of the business

-Comply as a minimum with all relevant environmental legislation


ON BEHALF OF THE BOARD:






A Leaver - Director



16 August 2024


Blue Square Marketing Limited (Registered number: 06797461)


Report of the Directors

for the Year Ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.  


PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of marketing services.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2023.


DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.


N G Avery

A Leaver

N B S Grimson


POLITICAL DONATIONS AND EXPENDITURE

Donations for UK charitable purposes in 2023 amounted to £1362  (2022- £200 ). Payments are made to a wide range of charitable organisations in the UK.


There were no payments to political organisations during 2023 (2022 - £Nil)


EMPLOYEE INVOLVEMENT

The company operates a framework for employee information and consultation which complies with the requirements of the Information and Consultation of Employees Regulations 2004.


DISABLED EMPLOYEES

Blue Square is an equal opportunity employer and gives full consideration to applications for employment from disabled persons where the candidate's particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion.


In a circumstance where existing employees require further support, it is the company's policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.


DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and research & development.



Blue Square Marketing Limited (Registered number: 06797461)


Report of the Directors

for the Year Ended 31 December 2023


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.


Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.  In preparing these financial statements, the directors are required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors,  Roy Pinnock & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






A Leaver - Director



16 August 2024


Report of the Independent Auditors to the Members of

Blue Square Marketing Limited


Opinion

We have audited the financial statements of Blue Square Marketing Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.


Report of the Independent Auditors to the Members of

Blue Square Marketing Limited



Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Report of the Independent Auditors to the Members of

Blue Square Marketing Limited



Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:


The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;


We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the business sector;


We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, and health and safety legislation;


We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and


Identified laws and regulations were communicated within the audit team regularly and the team remained alert to look for instances of non-compliance throughout the audit.


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:


making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and


considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:


Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

Investigated the rationale behind significant or unusual transactions.


In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;

reading the minutes of meetings of those charged with governance;

enquiring of management as to actual and potential litigation and claims; and

reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.


Report of the Independent Auditors to the Members of

Blue Square Marketing Limited



There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Natalie Coleman FCCA (Senior Statutory Auditor)

for and on behalf of Roy Pinnock & Co LLP

Statutory Auditors

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG


19 August 2024


Blue Square Marketing Limited (Registered number: 06797461)


Income Statement

for the Year Ended 31 December 2023



31.12.23


31.12.22


Notes

£   

£   



TURNOVER

3

28,700,562


29,356,561




Cost of sales

23,228,092


23,796,704



GROSS PROFIT

5,472,470


5,559,857




Administrative expenses

4,171,751


3,671,476



1,300,719


1,888,381




Gain/loss on revaluation of investments

329,890


-



OPERATING PROFIT

5

1,630,609


1,888,381




Interest receivable and similar income

7,396


30



1,638,005


1,888,411




Interest payable and similar expenses

7

385,649


250,359



PROFIT BEFORE TAXATION

1,252,356


1,638,052




Tax on profit

8

308,206


343,827



PROFIT FOR THE FINANCIAL

YEAR

944,150


1,294,225




Blue Square Marketing Limited (Registered number: 06797461)


Other Comprehensive Income

for the Year Ended 31 December 2023



31.12.23


31.12.22


Notes

£   

£   



PROFIT FOR THE YEAR

944,150


1,294,225





OTHER COMPREHENSIVE INCOME  


Revaluation of fixed asset investments

-


(255,519

)


Income tax relating to other

comprehensive income

-


57,177



OTHER COMPREHENSIVE

INCOME FOR THE YEAR, NET OF

INCOME TAX

-


(198,342

)


TOTAL COMPREHENSIVE

INCOME FOR THE YEAR

944,150


1,095,883




Blue Square Marketing Limited (Registered number: 06797461)


Balance Sheet

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

9

-


-



Tangible assets

10

234,136


214,762



Investments

11

4,466,080


3,136,190



4,700,216


3,350,952




CURRENT ASSETS

Stocks

12

139,923


64,492



Debtors

13

10,473,888


10,839,667



Cash at bank and in hand

2,201,877


3,372,802



12,815,688


14,276,961



CREDITORS

Amounts falling due within one year

14

8,288,024


4,149,328



NET CURRENT ASSETS

4,527,664


10,127,633



TOTAL ASSETS LESS CURRENT

LIABILITIES

9,227,880


13,478,585




CREDITORS

Amounts falling due after more than one

year

15

-


(5,280,000

)



PROVISIONS FOR LIABILITIES

18

(85,145

)

-



NET ASSETS

9,142,735


8,198,585




CAPITAL AND RESERVES

Called up share capital

19

63


63



Capital redemption reserve

20

37


37



Retained earnings

20

9,142,635


8,198,485



SHAREHOLDERS' FUNDS

9,142,735


8,198,585




The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:






A Leaver - Director



Blue Square Marketing Limited (Registered number: 06797461)


Statement of Changes in Equity

for the Year Ended 31 December 2023



Called up


Capital


Fair



share


Retained


redemption


value


Total


capital


earnings


reserve


reserve


equity

£   

£   

£   

£   

£   


Balance at 1 January 2022

63


6,904,260


37


90,484


6,994,844




Changes in equity

Total comprehensive income

-


1,294,225


-


(90,484

)

1,203,741



Balance at 31 December 2022

63


8,198,485


37


-


8,198,585




Changes in equity

Total comprehensive income

-


944,150


-


-


944,150



Balance at 31 December 2023

63


9,142,635


37


-


9,142,735




Blue Square Marketing Limited (Registered number: 06797461)


Cash Flow Statement

for the Year Ended 31 December 2023



31.12.23


31.12.22


Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

1,025,143


2,029,772



Interest paid

(385,649

)

(250,359

)


Tax paid

(551,338

)

(326,192

)


Net cash from operating activities

88,156


1,453,221




Cash flows from investing activities

Purchase of intangible fixed assets

-


(21,846

)


Purchase of tangible fixed assets

(80,538

)

(231,784

)


Purchase of fixed asset investments

(1,000,000

)

(1,000,000

)


Interest received

7,396


30



Net cash from investing activities

(1,073,142

)

(1,253,600

)



Cash flows from financing activities

Intercompany Loan change

(185,939

)

161,693



Net cash from financing activities

(185,939

)

161,693




(Decrease)/increase in cash and cash equivalents

(1,170,925

)

361,314



Cash and cash equivalents at

beginning of year

2

3,372,786


3,011,472




Cash and cash equivalents at end of

year

2

2,201,861


3,372,786




Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Cash Flow Statement

for the Year Ended 31 December 2023


1.

RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM

OPERATIONS


31.12.23


31.12.22

£   

£   



Profit before taxation

1,252,356


1,638,052




Depreciation charges

61,164


63,863




(Gain)/loss on revaluation of fixed assets

(329,890

)

107,858




Finance costs

385,649


250,359




Finance income

(7,396

)

(30

)


1,361,883


2,060,102




Increase in stocks

(75,431

)

(10,181

)



Decrease in trade and other debtors

651,467


118,860




Decrease in trade and other creditors

(912,776

)

(139,009

)



Cash generated from operations

1,025,143


2,029,772




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:



Year ended 31 December 2023


31.12.23


1.1.23

£   

£   



Cash and cash equivalents

2,201,877


3,372,802




Bank overdrafts

(16

)

(16

)


2,201,861


3,372,786




Year ended 31 December 2022


31.12.22


1.1.22

£   

£   



Cash and cash equivalents

3,372,802


3,011,488




Bank overdrafts

(16

)

(16

)


3,372,786


3,011,472





Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Cash Flow Statement

for the Year Ended 31 December 2023


3.

ANALYSIS OF CHANGES IN NET DEBT



At 1.1.23

Cash flow

At 31.12.23

£   

£   

£   



Net cash



Cash at bank and in hand

3,372,802


(1,170,925

)

2,201,877




Bank overdrafts

(16

)

-


(16

)


3,372,786


(1,170,925

)

2,201,861




Debt


Debts falling due within 1 year

-


(5,280,000

)

(5,280,000

)



Debts falling due after 1 year

(5,280,000

)

5,280,000


-



(5,280,000

)

-


(5,280,000

)



Total

(1,907,214

)

(1,170,925

)

(3,078,139

)



Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements

for the Year Ended 31 December 2023


1.

STATUTORY INFORMATION



Blue Square Marketing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.    



Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
No judgements have been made in the process of applying the above accounting policies.

There are no key assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


Revenue recognition


Revenue recognition is based on actual costs incurred plus a management fee for that period in the provision of services. Blue Square operates sophisticated activity tracking reconciliations so that all revenue associated to a service can be captured in the period that it is incurred.



Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Computer software is being amortised evenly over its estimated useful life of three years.



Intangible assets

The directors feel that three years is the appropriate life to amortise the software cost over.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Bikes

-

20% on cost


Fixtures and fittings

-  

20% on cost and 15% on cost


Computer equipment

-

33% on cost


The need for any impairment of a fixed asset write-down is considered if there is concern over the carrying value of an asset and is assessed by comparing that carrying value against the value in use or realisable value of the asset when appropriate


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


2.

ACCOUNTING POLICIES - continued



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.


Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.


Employee termination benefits


Employee termination benefits are  recognised in the period in which they becomes legally committed.



Investments in listed funds


The funds are revalued each year with the change in valuation nett of tax being transferred to the profit & loss account nett of deferred tax.


Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


2.

ACCOUNTING POLICIES - continued



Cash and cash equivalents


Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


3.

TURNOVER



The turnover and profit before taxation are attributable to the one principal activity of the company.



An analysis of turnover by class of business is given below:



31.12.23


31.12.22

£   

£   



Rendering of services

28,700,562


29,356,561



28,700,562


29,356,561





An analysis of turnover by geographical market is given below:



31.12.23


31.12.22

£   

£   



United Kingdom

28,700,562


29,356,561



28,700,562


29,356,561




4.

EMPLOYEES AND DIRECTORS


31.12.2331.12.22
£   £   

Wages and salaries 15,546,42016,008,854
Social security costs 1,782,4771,809,916
Other pension costs 411,747428,184
17,740,64418,246,954

The average number of employees during the year was as follows:


31.12.23 31.12.22

Field332441
Head Office2528
357469


Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023



31.12.23


31.12.22

£   

£   



Directors' remuneration

2,195


-





The directors have been paid their remuneration for services from the holding company Brand Partnership Group Ltd during the year.


5.

OPERATING PROFIT



The operating profit is stated after charging:



31.12.23


31.12.22

£   

£   



Other operating leases

149,733


95,756




Depreciation - owned assets

61,164


38,818




Computer software amortisation

-


25,046




Vehicle Leasing  

1,556,816


1,162,712




6.

AUDITORS' REMUNERATION


31.12.23


31.12.22

£   

£   



Fees payable to the company's auditors for the audit of the

company's financial statements

9,240


10,890




Taxation compliance services

1,200


1,200




7.

INTEREST PAYABLE AND SIMILAR EXPENSES



31.12.23


31.12.22

£   

£   



Loan Interest

375,379


245,052




HMRC Interest

10,270


5,307



385,649


250,359




8.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.12.23


31.12.22

£   

£   



Current tax:


UK corporation tax

180,575


337,766





Deferred tax

127,631


6,061




Tax on profit

308,206


343,827




Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


8.

TAXATION - continued



Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:



31.12.23


31.12.22

£   

£   



Profit before tax

1,252,356


1,638,052




Profit multiplied by the standard rate of corporation tax in the UK

of 23.520% (2022 - 19%)  

294,554


311,230





Effects of:


Expenses not deductible for tax purposes

21,328


12,104




Adjustments to tax charge in respect of previous periods

(7,676

)

-




Unrealised losses/(gains)  

-


20,493




Total tax charge

308,206


343,827





Tax effects relating to effects of other comprehensive income




There were no tax effects for the year ended 31 December 2023.



31.12.22



Gross


Tax


Net


£   

£   

£   



Revaluation of fixed asset investments

(255,519

)

57,177


(198,342

)



Transfer of deficit to profit & loss

107,858


-


107,858



(147,661

)

57,177


(90,484

)



Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


9.

INTANGIBLE FIXED ASSETS


Computer


software

£   



COST


At 1 January 2023

25,046




Disposals

(25,046

)



At 31 December 2023

-




AMORTISATION


At 1 January 2023

25,046




Eliminated on disposal

(25,046

)



At 31 December 2023

-




NET BOOK VALUE


At 31 December 2023

-




At 31 December 2022

-




10.

TANGIBLE FIXED ASSETS


Fixtures



and


Motor


Computer



Bikes


fittings


vehicles


equipment


Totals

£   

£   

£   

£   

£   



COST


At 1 January 2023

5,781


32,127


212,151


19,828


269,887




Additions

-


-


80,538


-


80,538




Disposals

-


-


-


(4,126

)

(4,126

)



At 31 December 2023

5,781


32,127


292,689


15,702


346,299




DEPRECIATION


At 1 January 2023

2,024


21,491


25,319


6,291


55,125




Charge for year

1,156


8,360


46,457


5,191


61,164




Eliminated on disposal

-


-


-


(4,126

)

(4,126

)



At 31 December 2023

3,180


29,851


71,776


7,356


112,163




NET BOOK VALUE


At 31 December 2023

2,601


2,276


220,913


8,346


234,136




At 31 December 2022

3,757


10,636


186,832


13,537


214,762




Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


11.

FIXED ASSET INVESTMENTS


Listed


investments

£   



COST OR VALUATION


At 1 January 2023

3,136,190




Additions

1,000,000




Revaluations

329,890




At 31 December 2023

4,466,080




NET BOOK VALUE


At 31 December 2023

4,466,080




At 31 December 2022

3,136,190





Cost or valuation at 31 December 2023 is represented by:



Listed


investments

£   



Valuation in 2021

111,709




Valuation in 2022

(255,519

)



Valuation in 2023

329,890




Cost

4,280,000



4,466,080





If investments had not been revalued they would have been included at the following historical cost:



31.12.23


31.12.22

£   

£   



Cost

4,280,000


3,280,000





Fixed asset investments were valued on an open market basis on 31 December 2023 by St James Place  .


12.

STOCKS


31.12.23


31.12.22

£   

£   



Stocks

139,923


64,492




Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade debtors

1,342,186


2,097,409




Amounts owed by group undertakings

6,908,707


6,585,218




Other debtors

73,217


129,085




Tax

4,684


-




Deferred tax asset

-


42,485




Prepayments and accrued income

2,145,094


1,985,470



10,473,888


10,839,667




14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Bank loans and overdrafts (see note 16)

16


16




Other loans (see note 16)

5,280,000


-




Trade creditors

385,317


359,236




Amounts owed to group undertakings

433,877


296,326




Tax

-


366,079




Social security and other taxes

378,267


379,249




Pension Contributions due

77,528


248,633




VAT

431,424


643,089




Other creditors

154,238


214,896




Accruals and deferred income

1,147,357


1,641,804



8,288,024


4,149,328




15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR



31.12.23


31.12.22

£   

£   



Other loans (see note 16)

-


5,280,000




The loan of £5,280,000 is repayable December 2024. This is owed to a director of the company. Interest is incurred on the loan at 3% over base rate. During the year interest was incurred of £375,827 (2022:£245,053).


Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


16.

LOANS



An analysis of the maturity of loans is given below:



31.12.23


31.12.22

£   

£   



Amounts falling due within one year or on demand:


Bank overdrafts

16


16




Other loans

5,280,000


-



5,280,016


16





Amounts falling due between two and five years:


Other loans - 2-5 years

-


5,280,000




17.

LEASING AGREEMENTS



Minimum lease payments under non-cancellable operating leases fall due as follows:


31.12.23


31.12.22

£   

£   



Within one year

1,275,446


113,500




Between one and five years

681,939


651,597




In more than five years

402,515


487,255



2,359,900


1,252,352




18.

PROVISIONS FOR LIABILITIES


31.12.23


£   




Deferred tax

85,145





Deferred



tax


£   



Balance at 1 January 2023

(42,485

)



Accelerated Capital Allowances

17,721




Short Term Timing Differences

27,858




Revaluation of investments

82,051




Balance at 31 December 2023

85,145




Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


19.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.12.23


31.12.22


value:

£   

£   



63

Ordinary

£1

63


63




There is a single class of ordinary shares. There are no restrictions on the distribution
of dividends and the repayment of capital.

20.

RESERVES


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

8,198,485


37


8,198,522




Profit for the year

944,150


944,150




At 31 December 2023

9,142,635


37


9,142,672




Fixed asset investments are shown at fair value in accordance with FRS102 with the surplus going to the profit & loss account. At as the 31st December 2023 the total gain nett of deferred tax was £139,560 has been included within retained earning.

21.

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 scheme. The pension cost in the accounts represents contributions payable by the company to the fund and amounted to £428,184 (2022 - £411,747). Pension contributions owing to the fund at the balance sheet date were £77,528 (2022 - £248,633).


Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


22.

ULTIMATE PARENT COMPANY



Brand Partnership Group Ltd is regarded by the directors as being the company's ultimate parent company.


The balance owing from Brand Partnership Group Limited as at 31st December 2023 was £6,900,967.(2022: £6,312,885)
During the year a dividend of £nil (2022: £nil) was paid to Brand Partnership Group Ltd.

Brand Partnership Group Ltd ( Previously known as Blue Square Group Ltd ) is registered in England & Wales, Company Number 09938132 Registered Office: Tate House, Watermark Way, Hertford, Hertfordshire SG13 7TZ.










Blue Square Marketing Limited (Registered number: 06797461)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


23.

RELATED PARTY DISCLOSURES



Andrew Leaver is the ultimate controlling party by virtue of his shareholding in Brand Partnership Group Ltd.



Andrew Leaver & Neil Avery are both directors of Brand Partnership Group Ltd. Andrew Leaver, Neil Avery & Neil Grimson are all directors of Engage Pulse Ltd , Creative Monster Limited, Space Retail Group Ltd & Monster Holding Ltd



Brand Partnership Group Ltd


Dividend paid during the year of £nil (2022: £nil)


Balance owed at 31st December 2023 £6,900,967 ( 2022:£6,312,885)



Engage Pulse Ltd


The balances with Engage Pulse Ltd at 31st December 2023 were a trade creditor of £nil(2022:£59,666) & an Intercompany creditor of £147,437  (2022 £31,181)



Creative Monster Ltd (Onlive Events Ltd)


The balances with Creative Monster Ltd at 31st December 2023 were a trade creditor of £nil (2022:£205,478) , an intercompany creditor of  £286,438(2022:debtor £264,528)



Space Retail Group Ltd (Activesquare Ltd)


The balances with Space Retail Group Ltd at 31st December 2023 were an intercompany debtor of £7,740 (2022:£7,804).



Monster Holding Ltd


The balances with Monster Holding Ltd at 31st December 2023 were an intercompany debtor of £nil.(2022:£nil)



There is a loan of £5,280,000 that is repayable December 2024.  This is owed to a director of the company. Interest is incurred on the loan at 3% over base rate.  During the year interest was incurred of  £375,827          (2022:£245,053)


During the year consultancy of £125,000 (2022:£75,000) was incurred under normal market conditions with a private limited company that is controlled by a director.


The balance owing at 31st December 2023 was nil (2022: nil)


24.

AUDITOR LIABILITY LIMITATION AGREEMENT



Blue Square Marketing Limited agreed on 30th April 2024 that Roy Pinnock & Co LLP's liability as auditors to the company will be limited in accordance with sections 532 to 538 of the Companies Act 2006.



There are no Third Parties that Roy Pinnock & Co LLP have agreed should be entitled to rely on the work done.


25.

ULTIMATE CONTROLLING PARTY



The controlling party is A Leaver.



A Leaver is the ultimate controlling party by virtue of his share holding in Brand Partnership Group Ltd.