Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07053295 2023-04-01 2024-03-31 07053295 2021-10-01 2023-03-31 07053295 2024-03-31 07053295 2023-03-31 07053295 c:Director1 2023-04-01 2024-03-31 07053295 d:CurrentFinancialInstruments 2024-03-31 07053295 d:CurrentFinancialInstruments 2023-03-31 07053295 d:Non-currentFinancialInstruments 2024-03-31 07053295 d:Non-currentFinancialInstruments 2023-03-31 07053295 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07053295 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07053295 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07053295 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07053295 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07053295 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07053295 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07053295 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07053295 d:ShareCapital 2024-03-31 07053295 d:ShareCapital 2023-03-31 07053295 d:RetainedEarningsAccumulatedLosses 2024-03-31 07053295 d:RetainedEarningsAccumulatedLosses 2023-03-31 07053295 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07053295 c:OrdinaryShareClass1 2024-03-31 07053295 c:OrdinaryShareClass1 2023-03-31 07053295 c:FRS102 2023-04-01 2024-03-31 07053295 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07053295 c:FullAccounts 2023-04-01 2024-03-31 07053295 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07053295 2 2023-04-01 2024-03-31 07053295 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07053295









MR BUBBLES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MR BUBBLES LIMITED
REGISTERED NUMBER: 07053295

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
31,806
-

Debtors: amounts falling due within one year
 4 
53,894
145,770

Cash at bank and in hand
  
-
24,618

  
85,700
170,388

Creditors: amounts falling due within one year
 5 
(68,082)
(126,758)

Net current assets
  
 
 
17,618
 
 
43,630

Total assets less current liabilities
  
17,618
43,630

Creditors: amounts falling due after more than one year
 6 
(17,465)
(22,507)

  

Net assets
  
153
21,123


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
151
21,121

  
153
21,123


Page 1

 
MR BUBBLES LIMITED
REGISTERED NUMBER: 07053295
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Director considers 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 Director acknowledges his 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 on 15 November 2024.




H S Doal
Director

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

Page 2

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 07053295.  The Company's registered office is Unit 6a Heath Street Industrial Estate, Abberley Street, Smethwick, B66 2QL.
Previously the company year end was extended to bring it in line with the fiscal year so the comparative figures cover the period from 1 October 2021 to 31 March 2023.  These accounts cover the year ended 31 March 2024.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are 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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

 
2.2

Going concern

The director has prepared the accounts on a going concern basis.

 
2.3

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.

Page 3

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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, 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.

Rental Income
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• The amount of turnover can be measured reliably;
• It is probable that the Company will receive the consideration due for the period of rental;
• The period of rental can be measured reliably; and 
• The costs incurred or expected to be incurred in respect of the transaction can be measured reliably

 
2.5

Interest income

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

 
2.6

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 4

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

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.

 
2.8

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.

 
2.9

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 first in, first out 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.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 5

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Trade debtors
52,079
145,770

Prepayments and accrued income
1,815
-

53,894
145,770


Page 6

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
3,347
-

Bank loans
5,862
9,880

Trade creditors
1,053
44,871

Corporation tax
6,935
8,188

Other taxation and social security
3,427
36,564

Other creditors
20,672
482

Accruals and deferred income
26,786
26,773

68,082
126,758



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,465
22,507

17,465
22,507


Page 7

 
MR BUBBLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,862
9,880


5,862
9,880

Amounts falling due 1-2 years

Bank loans
10,048
9,880


10,048
9,880

Amounts falling due 2-5 years

Bank loans
7,417
12,628


7,417
12,628


23,327
32,388



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Related party transactions

As at 31 March 2024 amounts were due to the director of £19,117 (2023 - £335).  Loans are interest free and repayable on demand. 

 
Page 8