Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-013falseNo description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07253565 2023-01-01 2023-12-31 07253565 2022-01-01 2022-12-31 07253565 2023-12-31 07253565 2022-12-31 07253565 c:Director5 2023-01-01 2023-12-31 07253565 d:PlantMachinery 2023-01-01 2023-12-31 07253565 d:PlantMachinery 2023-12-31 07253565 d:PlantMachinery 2022-12-31 07253565 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07253565 d:MotorVehicles 2023-01-01 2023-12-31 07253565 d:MotorVehicles 2023-12-31 07253565 d:MotorVehicles 2022-12-31 07253565 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07253565 d:FurnitureFittings 2023-01-01 2023-12-31 07253565 d:FurnitureFittings 2023-12-31 07253565 d:FurnitureFittings 2022-12-31 07253565 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07253565 d:OfficeEquipment 2023-01-01 2023-12-31 07253565 d:OfficeEquipment 2023-12-31 07253565 d:OfficeEquipment 2022-12-31 07253565 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07253565 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07253565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07253565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07253565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07253565 d:CurrentFinancialInstruments 2023-12-31 07253565 d:CurrentFinancialInstruments 2022-12-31 07253565 d:CurrentFinancialInstruments 1 2023-12-31 07253565 d:CurrentFinancialInstruments 1 2022-12-31 07253565 d:Non-currentFinancialInstruments 2023-12-31 07253565 d:Non-currentFinancialInstruments 2022-12-31 07253565 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07253565 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07253565 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07253565 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07253565 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07253565 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 07253565 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07253565 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 07253565 d:ShareCapital 2023-12-31 07253565 d:ShareCapital 2022-12-31 07253565 d:RetainedEarningsAccumulatedLosses 2023-12-31 07253565 d:RetainedEarningsAccumulatedLosses 2022-12-31 07253565 c:FRS102 2023-01-01 2023-12-31 07253565 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07253565 c:FullAccounts 2023-01-01 2023-12-31 07253565 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07253565 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 07253565 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 07253565 2 2023-01-01 2023-12-31 07253565 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07253565









LONDON REBEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LONDON REBEL LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 11


 
LONDON REBEL LIMITED
REGISTERED NUMBER: 07253565

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,799
9,137

  
4,799
9,137

Current assets
  

Stocks
 6 
26,990
18,835

Debtors
 7 
1,048,962
1,727,725

Cash at bank and in hand
 8 
18,170
29,452

  
1,094,122
1,776,012

Creditors: amounts falling due within one year
 9 
(590,561)
(1,203,534)

Net current assets
  
 
 
503,561
 
 
572,478

Total assets less current liabilities
  
508,360
581,615

Creditors: amounts falling due after more than one year
 10 
(33,566)
(54,767)

Provisions for liabilities
  

Deferred tax
  
(699)
(1,674)

  
 
 
(699)
 
 
(1,674)

Net assets
  
474,095
525,174


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
473,995
525,074

  
474,095
525,174


Page 1

 
LONDON REBEL LIMITED
REGISTERED NUMBER: 07253565
    
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 on 29 October 2024.




G Dhallu
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

London Rebel Limited is a private company limited by shares and incorporated in England and Wales, registration number 07253565. The registered office is Unit 1 Havanna Buildings, 341 Old Street, London, United Kingdom, EC1V 9LL. The principal activity of the company is importing ladies shoes from China and distributes amongst the UK markets.

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 financial statements are presented in pounds sterling which is the functional currency of the
company and rounded to the nearest £.
The following principal accounting polices have been applied:

 
2.2

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:

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.

 
2.3

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.

 The estimated useful lives range as follows:

Website costs
-
5
years

Page 3

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

2.Accounting policies (continued)

 
2.4

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.

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:

Plant & machinery
-
25% Straight line
Motor vehicles
-
25% Straight line
Fixtures & fittings
-
20% Straight line
Office equipment
-
33.33% 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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

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

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in 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 comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

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.

 
2.11

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.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

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

Page 5

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

2.Accounting policies (continued)

 
2.14

Borrowing costs

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

 
2.15

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.

Page 6

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

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).


4.


Intangible assets




Website costs

£



Cost


At 1 January 2023
41,875



At 31 December 2023

41,875



Amortisation


At 1 January 2023
41,875



At 31 December 2023

41,875



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 7

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

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
23,839
22,120
13,189
13,479
72,627



At 31 December 2023

23,839
22,120
13,189
13,479
72,627



Depreciation


At 1 January 2023
18,857
22,120
12,266
10,247
63,490


Charge for the year on owned assets
2,600
-
482
1,256
4,338



At 31 December 2023

21,457
22,120
12,748
11,503
67,828



Net book value



At 31 December 2023
2,382
-
441
1,976
4,799



At 31 December 2022
4,982
-
923
3,232
9,137


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
26,990
18,835

26,990
18,835


Page 8

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

7.


Debtors


2023
2022
£
£



Trade debtors
404,111
1,084,255

Other debtors
639,791
638,102

Prepayments and accrued income
5,060
5,368

1,048,962
1,727,725



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,170
29,452

18,170
29,452



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
21,200
21,200

Trade creditors
350,260
626,796

Corporation tax
154,052
136,410

Other taxation and social security
17,039
6,168

Proceeds of factored debts
(1,769)
369,590

Other creditors
45,379
35,595

Accruals and deferred income
4,400
7,775

590,561
1,203,534


Included in creditors are amounts of -£1,769 (2022: £369,590) which are secured by way of fixed and floating charges over the company's purchased debt.

Page 9

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

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,200
21,200

Other loans
12,366
33,567

33,566
54,767



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
21,200
21,200


21,200
21,200

Amounts falling due 1-2 years

Bank loans
21,200
21,200


21,200
21,200

Amounts falling due 2-5 years

Other loans
12,366
33,567


12,366
33,567


54,766
75,967



12.


Pension commitments

The Company operates a Defined benefit pension scheme. The assets of the scheme are held seperately 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 £1,059 (2022 : £1,149). Contributions totalling £197 (2022 : £231) were payable to the fund at the balance sheet date.

Page 10

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

13.


Related party transactions

At the year end an amount of £Nil (2022 : £60) was due to key management personnel.
Dividends of £100,000 (2022 : £144,043) were paid to the ultimate parent company (GSVP Group Limited).
During the year company paid remuneration of £Nil (2022 : £Nil) to the key management personnel.


14.


Controlling party

GSVP Group Limited is the ultimate parent company, there is no ultimate controlling party.

Page 11