Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01truefalseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07540407 2023-03-01 2024-02-29 07540407 2022-03-01 2023-02-28 07540407 2024-02-29 07540407 2023-02-28 07540407 c:Director1 2023-03-01 2024-02-29 07540407 d:FurnitureFittings 2023-03-01 2024-02-29 07540407 d:FurnitureFittings 2024-02-29 07540407 d:FurnitureFittings 2023-02-28 07540407 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07540407 d:OfficeEquipment 2023-03-01 2024-02-29 07540407 d:OfficeEquipment 2024-02-29 07540407 d:OfficeEquipment 2023-02-28 07540407 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07540407 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07540407 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 07540407 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 07540407 d:CurrentFinancialInstruments 2024-02-29 07540407 d:CurrentFinancialInstruments 2023-02-28 07540407 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07540407 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07540407 d:ShareCapital 2024-02-29 07540407 d:ShareCapital 2023-02-28 07540407 d:RetainedEarningsAccumulatedLosses 2024-02-29 07540407 d:RetainedEarningsAccumulatedLosses 2023-02-28 07540407 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 07540407 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 07540407 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 07540407 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07540407 c:OrdinaryShareClass1 2023-03-01 2024-02-29 07540407 c:OrdinaryShareClass1 2024-02-29 07540407 c:OrdinaryShareClass1 2023-02-28 07540407 c:FRS102 2023-03-01 2024-02-29 07540407 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07540407 c:FullAccounts 2023-03-01 2024-02-29 07540407 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07540407 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 07540407 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07540407









BF LONDON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BF LONDON LIMITED
REGISTERED NUMBER: 07540407

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
-

Tangible assets
 5 
1,622
1,755

Current assets
  

Debtors: amounts falling due within one year
 6 
453,506
7,658

Current asset investments
 7 
7,556,258
6,922,056

Cash at bank and in hand
 8 
4,931
11,312

  
8,014,695
6,941,026

Creditors: amounts falling due within one year
 9 
(2,776,156)
(3,595,038)

Net current assets
  
 
 
5,238,539
 
 
3,345,988

Total assets less current liabilities
  
5,240,162
3,347,743

Provisions for liabilities
  

Deferred tax
 11 
(11,230)
(91,570)

Net assets
  
5,228,932
3,256,173


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
5,228,832
3,256,073

Total equity
  
5,228,932
3,256,173


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.
 
Page 1

 
BF LONDON LIMITED
REGISTERED NUMBER: 07540407
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


A J Bloom
Director
Date: 16 October 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

BF London Limited is a private company limited by shares and registered in England and Wales. Its registered office address is Aston House, Cornwall Avenue, London, N3 1LF.
The financial statements are presented in Sterling (£), rounded to the nearest £1. 

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
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. 
Revenue comprises dividends and interest which are receivable on the company's investment portfolio.

 
2.4

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.

Page 3

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

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.

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.

 
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

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years straight line
Office equipment
-
4 years straight line

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

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.

 
2.9

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.

 
2.10

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.

Page 5

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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.

  
2.12

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Trademarks

£



Cost


Additions
1



At 29 February 2024

1






Net book value



At 29 February 2024
1



At 28 February 2023
-



Page 7

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
13,191
4,145
17,336


Additions
-
1,049
1,049


Disposals
(10,323)
(2,008)
(12,331)



At 29 February 2024

2,868
3,186
6,054



Depreciation


At 1 March 2023
12,952
2,629
15,581


Charge for the year on owned assets
239
943
1,182


Disposals
(10,323)
(2,008)
(12,331)



At 29 February 2024

2,868
1,564
4,432



Net book value



At 29 February 2024
-
1,622
1,622



At 28 February 2023
239
1,516
1,755


6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
432,135
95

Prepayments and accrued income
21,371
7,563

453,506
7,658


Page 8

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Current asset investments

29 February
28 February
2024
2023
£
£

Listed investments
4,811,602
5,042,900

Unlisted investments
2,744,656
1,879,156

7,556,258
6,922,056



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
4,931
11,312



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
2,723,500
3,545,923

Accruals and deferred income
52,656
49,115

2,776,156
3,595,038



10.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
4,811,602
5,042,900




Financial assets measured at fair value through profit or loss comprise investments in listed equities and bonds.

Page 9

 
BF LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Deferred taxation






2024


£






At beginning of year
(91,570)


Charged to profit or loss
80,340



At end of year
(11,230)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Unrealised gain/loss on investment
(11,230)
(91,570)


12.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Related party transactions

During the year the company repaid the directors £769,423 (2023 - £525,600). As at the year end the company owed the directors £Nil (2023 - £769,423).

 
Page 10