Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsefalse2023-03-01No description of principal activity65falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11544290 2023-03-01 2024-02-29 11544290 2024-02-29 11544290 2022-03-01 2023-02-28 11544290 2023-02-28 11544290 c:Director1 2023-03-01 2024-02-29 11544290 d:PlantMachinery 2023-03-01 2024-02-29 11544290 d:PlantMachinery 2024-02-29 11544290 d:PlantMachinery 2023-02-28 11544290 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11544290 d:ComputerEquipment 2023-03-01 2024-02-29 11544290 d:ComputerEquipment 2024-02-29 11544290 d:ComputerEquipment 2023-02-28 11544290 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11544290 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11544290 d:CurrentFinancialInstruments 2024-02-29 11544290 d:CurrentFinancialInstruments 2023-02-28 11544290 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11544290 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11544290 d:ShareCapital 2024-02-29 11544290 d:ShareCapital 2023-02-28 11544290 d:RetainedEarningsAccumulatedLosses 2024-02-29 11544290 d:RetainedEarningsAccumulatedLosses 2023-02-28 11544290 c:FRS102 2023-03-01 2024-02-29 11544290 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11544290 c:FullAccounts 2023-03-01 2024-02-29 11544290 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11544290 4 2023-03-01 2024-02-29 11544290 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 11544290


THE DEPOT LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024
These draft accounts may be subject to material change before finalisation. This information is provided in confidence and is only to be used by the addressee. Wellers and its employees can accept no responsibility (financial or otherwise) in connection with the information provided. If necessary, please contact the relevant office for further clarification.

 
THE DEPOT LTD
REGISTERED NUMBER: 11544290

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,428
6,071

  
2,428
6,071

Current assets
  

Debtors: amounts falling due within one year
 5 
68,939
2,612

Cash at bank and in hand
 6 
663
1,560

  
69,602
4,172

Creditors: amounts falling due within one year
 7 
(227,779)
(337,639)

Net current liabilities
  
 
 
(158,177)
 
 
(333,467)

Total assets less current liabilities
  
(155,749)
(327,396)

  

Net liabilities
  
(155,749)
(327,396)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(155,751)
(327,398)

  
(155,749)
(327,396)


Page 1

 
THE DEPOT LTD
REGISTERED NUMBER: 11544290
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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: 




................................................
Andrew Budgen
Director

Date: 29 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE DEPOT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Depot Ltd is a private limited company which is incorporated and domiciled in the UK, the date of incorporation is 30 August 2018. The registered office address is 1 Vincent Square, London, SW1 2PN.

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

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

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.

 
2.4

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.

Page 3

 
THE DEPOT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

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 and machinery
-
25%
Computer equipment
-
25%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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

 
THE DEPOT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

2024
£

Wages and salaries
55,992

Social security costs
4,297

Cost of defined contribution scheme
287

60,576


The average monthly number of employees, including directors, during the year was 6 (2023 - 5).


4.


Tangible fixed assets







Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
14,112
517
14,629



At 29 February 2024

14,112
517
14,629



Depreciation


At 1 March 2023
8,257
301
8,558


Charge for the year on owned assets
3,514
129
3,643



At 29 February 2024

11,771
430
12,201



Net book value



At 29 February 2024
2,341
87
2,428



At 28 February 2023
5,855
216
6,071


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,141
2,270

Other debtors
342
342
Page 5

 
THE DEPOT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.Debtors (continued)


Prepayments and accrued income
67,456
-

68,939
2,612



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
663
1,560

663
1,560



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
9,699
9,258

Other taxation and social security
30,037
45,598

Other creditors
182,580
280,983

Accruals and deferred income
5,463
1,800

227,779
337,639



8.


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 £287 (2023: £978). Contributions totalling £nil (2023: £658) were payable to the fund at the balance sheet date and are included in creditors.

Page 6

 
THE DEPOT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Related party transactions

A balance of £74,455 (2023: £81,583) was owed to Urbanlab Ltd, a company under the common control of the shareholders of The Depot Ltd.
A balance of £83,427 (2023: £80,398) was owed to The Lab Developments (Creative Living) Ltd, a company under the common control of the shareholders of The Depot Ltd.
A balance of £6,637 (2023: £6,272) was owed to Energylab Consulting Ltd, a company under the common control of the shareholders of The Depot Ltd.
A balance of £7,062 (2023: £7,132) was owed to Sense (Space) Limited, a company under the common control of the shareholders of The Depot Ltd.
A balance of £11,000 (2023: £11,000) was owed to West Ham Lane Developments Limited, a company under the common control of the shareholders of The Depot Ltd.
A balance of £nil (2023: £88,745) was owed to SpacelabUK Limited, a company under the common control of the shareholders of The Depot Ltd.

 
Page 7