Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company is the development of residential properties.22falsetruefalse 08329385 2023-01-01 2023-12-31 08329385 2022-01-01 2022-12-31 08329385 2023-12-31 08329385 2022-12-31 08329385 2022-01-01 08329385 1 2023-01-01 2023-12-31 08329385 1 2022-01-01 2022-12-31 08329385 1 2023-01-01 2023-12-31 08329385 e:Director2 2023-01-01 2023-12-31 08329385 d:CurrentFinancialInstruments 2023-12-31 08329385 d:CurrentFinancialInstruments 2022-12-31 08329385 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08329385 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08329385 d:ShareCapital 2023-01-01 2023-12-31 08329385 d:ShareCapital 2023-12-31 08329385 d:ShareCapital 2022-01-01 2022-12-31 08329385 d:ShareCapital 2022-12-31 08329385 d:ShareCapital 2022-01-01 08329385 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 08329385 d:OtherMiscellaneousReserve 2023-12-31 08329385 d:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 08329385 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 08329385 d:OtherMiscellaneousReserve 2022-12-31 08329385 d:OtherMiscellaneousReserve 2022-01-01 08329385 d:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 08329385 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 08329385 d:RetainedEarningsAccumulatedLosses 2023-12-31 08329385 d:RetainedEarningsAccumulatedLosses 1 2023-01-01 2023-12-31 08329385 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08329385 d:RetainedEarningsAccumulatedLosses 2022-12-31 08329385 d:RetainedEarningsAccumulatedLosses 2022-01-01 08329385 d:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 08329385 e:FRS102 2023-01-01 2023-12-31 08329385 e:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08329385 e:FullAccounts 2023-01-01 2023-12-31 08329385 e:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08329385 6 2023-01-01 2023-12-31 08329385 13 2023-01-01 2023-12-31 08329385 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 08329385 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 08329385 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08329385










BG Doodles Holdings Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
BG Doodles Holdings Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of BG Doodles Holdings Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BG Doodles Holdings Limited for the year ended 31 December 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of BG Doodles Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of BG Doodles Holdings Limited and state those matters that we have agreed to state to the Board of directors of BG Doodles Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BG Doodles Holdings Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that BG Doodles Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BG Doodles Holdings Limited. You consider that BG Doodles Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of BG Doodles Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
23 September 2024
Page 1

 
BG Doodles Holdings Limited
Registered number: 08329385

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Stocks
  
848,298
848,298

Debtors: amounts falling due within one year
 5 
94,592
93,786

Cash at bank and in hand
  
251
85,217

  
943,141
1,027,301

Creditors: amounts falling due within one year
 6 
(1,025,298)
(1,090,621)

Net current liabilities
  
 
 
(82,157)
 
 
(63,320)

  

Net liabilities
  
(82,057)
(63,220)


Capital and reserves
  

Called up share capital 
  
100
100

Equity reserves
 8 
49,150
52,600

Profit and loss account
 8 
(131,307)
(115,920)

  
(82,057)
(63,220)


Page 2

 
BG Doodles Holdings Limited
Registered number: 08329385

Balance sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the 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: 




................................................
M D P McGeever
Director
Date: 23 September 2024

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
BG Doodles Holdings Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Equity reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
100
-
(60,271)
(60,171)


Comprehensive income for the year

Loss for the year
-
-
(55,649)
(55,649)

Convertible loan notes
-
52,600
-
52,600
Total comprehensive income for the year
-
52,600
(55,649)
(3,049)



At 1 January 2023
100
52,600
(115,920)
(63,220)


Comprehensive income for the year

Loss for the year
-
-
(15,387)
(15,387)

Convertible loan notes
-
(3,450)
-
(3,450)
Total comprehensive income for the year
-
(3,450)
(15,387)
(18,837)


At 31 December 2023
100
49,150
(131,307)
(82,057)


Page 4

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales. The address of its registered office is: 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis. The Company's ability to continue to trade is dependent upon the support of its directors and parent company. If this assumption proves to be inappropriate, adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

 
2.4

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 and value added tax. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Borrowing costs

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

Page 5

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, less any impairment.

Page 6

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

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.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.12

Convertible debt

The proceeds received on issue of the Company's convertible debt are allocated into their liability and equity components and presented separately in the balance sheet date.

The amount initially attributed to the debt component equals the discounted cash flows using a market rate of interest that would be payable on a similar debt instrument that did not include an option to convert.

The difference between the net proceeds of the convertible debt and the amount allocated to the debt component is credited direct to equity and is not subsequently remeasured. On conversion, the debt and equity elements are credited to share capital and share premium as appropriate.

Transaction costs that relate to the issue of the instrument are allocated to the liability and equity components of the instrument in proportion to the allocation of proceeds.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
100



At 31 December 2023
100





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
59,385
59,245

Other debtors
129
539

Prepayments and accrued income
875
4,928

Deferred tax asset
34,203
29,074

94,592
93,786


Page 8

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
450
17,823

Director loan accounts
580,698
597,198

Amounts owed to group undertakings
-
100

Accruals and deferred income
1,800
2,100

Convertible loan notes
442,350
473,400

1,025,298
1,090,621


The convertible loan notes are convertible to shares in the capital of the Company, after the conversion date, which is the earlier of:
a) the Company raising £700,000 or more through the issue of shares or other securities.
or
b) 12 months after the date of the agreement. They are eligible for conversion due to this.
The convertible loan notes, issued by the Company in the prior year, are held by third parties. They are unsecured and interest free.


7.


Deferred taxation




2023


£






At beginning of year
29,074


Charged to profit or loss
5,129



At end of year
34,203

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses
34,203
29,074


8.


Reserves

Equity reserves

Equity reserves represent the equity component of convertible loan notes issued.

Profit and loss account

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

Page 9

 
BG Doodles Holdings Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

9.


Post balance sheet events

Since the year-end, the subsidiary of the company has been dissolved with no trading activity having taken place. 


10.


Ultimate parent undertaking and controlling party

The Company is controlled by 7TG Limited, registration number 09542791, by virtue of its 100% shareholding. The accounts for 7TG Limited can be found at Companies House. The parent company's registered office address is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ.
The ultimate parent company is 7TG Holdings Limited, registration number 14785317. The registered office address is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ.


Page 10