Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalse2023-01-01false1413truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07080469 2023-01-01 2023-12-31 07080469 2022-01-01 2022-12-31 07080469 2023-12-31 07080469 2022-12-31 07080469 c:Director1 2023-01-01 2023-12-31 07080469 c:Director2 2023-01-01 2023-12-31 07080469 c:Director4 2023-01-01 2023-12-31 07080469 d:FurnitureFittings 2023-01-01 2023-12-31 07080469 d:FurnitureFittings 2023-12-31 07080469 d:FurnitureFittings 2022-12-31 07080469 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07080469 d:ComputerEquipment 2023-01-01 2023-12-31 07080469 d:ComputerEquipment 2023-12-31 07080469 d:ComputerEquipment 2022-12-31 07080469 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07080469 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07080469 d:CurrentFinancialInstruments 2023-12-31 07080469 d:CurrentFinancialInstruments 2022-12-31 07080469 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07080469 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07080469 d:ShareCapital 2023-12-31 07080469 d:ShareCapital 2022-12-31 07080469 d:RetainedEarningsAccumulatedLosses 2023-12-31 07080469 d:RetainedEarningsAccumulatedLosses 2022-12-31 07080469 c:FRS102 2023-01-01 2023-12-31 07080469 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07080469 c:FullAccounts 2023-01-01 2023-12-31 07080469 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07080469 2 2023-01-01 2023-12-31 07080469 6 2023-01-01 2023-12-31 07080469 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07080469









BBS CAPITAL LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BBS CAPITAL LIMITED
REGISTERED NUMBER: 07080469

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
105,142
132,373

Investments
 5 
740,000
740,000

  
845,142
872,373

Current assets
  

Debtors: amounts falling due within one year
 6 
4,402,175
3,012,118

Current asset investments
 7 
7,126,789
8,873,532

Cash at bank and in hand
 8 
432,548
614,425

  
11,961,512
12,500,075

Creditors: amounts falling due within one year
 9 
(491,627)
(407,662)

Net current assets
  
 
 
11,469,885
 
 
12,092,413

Total assets less current liabilities
  
12,315,027
12,964,786

  

Net assets
  
12,315,027
12,964,786


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
12,314,727
12,964,486

  
12,315,027
12,964,786


Page 1

 
BBS CAPITAL LIMITED
REGISTERED NUMBER: 07080469
    
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 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: 





A P Buchler
J F Barnett
Director
Director




N A Spencer
Director






Date: 2 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

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

1.


General information

BBS Capital Limited is a private company limited by shares. The Company is incorporated in England and Wales and the address of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. 

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

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

2.Accounting policies (continued)

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

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.

 
2.7

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.

Page 4

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the straight line and reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%
straight Line
Computer equipment
-
25%
reducing balance

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.

 
2.8

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.
Page 5

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)


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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 13).


4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
222,121
56,620
278,741


Additions
-
7,815
7,815



At 31 December 2023

222,121
64,435
286,556



Depreciation


At 1 January 2023
112,640
33,727
146,367


Charge for the year on owned assets
27,370
7,677
35,047



At 31 December 2023

140,010
41,404
181,414



Net book value



At 31 December 2023
82,111
23,031
105,142



At 31 December 2022
109,481
22,892
132,373

Page 6

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

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
740,000



At 31 December 2023
740,000





6.


Debtors

2023
2022
£
£


Trade debtors
93,177
800,967

Other debtors
3,656,802
1,948,216

Prepayments and accrued income
652,196
262,935

4,402,175
3,012,118



7.


Current asset investments

2023
2022
£
£

Listed investments
7,126,789
8,873,532



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
432,548
614,425


Page 7

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

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,040
59,823

Corporation tax
-
70,191

Other taxation and social security
34,430
40,593

Other creditors
407,323
123,265

Accruals and deferred income
46,834
113,790

491,627
407,662



10.


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 fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £55,575 (2022: £41,571).

 
Page 8