Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01false33truefalse 12466693 2023-05-01 2024-04-30 12466693 2022-05-01 2023-04-30 12466693 2024-04-30 12466693 2023-04-30 12466693 2022-05-01 12466693 c:CompanySecretary1 2023-05-01 2024-04-30 12466693 c:Director1 2023-05-01 2024-04-30 12466693 c:Director2 2023-05-01 2024-04-30 12466693 c:Director3 2023-05-01 2024-04-30 12466693 c:Director4 2023-05-01 2024-04-30 12466693 c:RegisteredOffice 2023-05-01 2024-04-30 12466693 d:CurrentFinancialInstruments 2024-04-30 12466693 d:CurrentFinancialInstruments 2023-04-30 12466693 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 12466693 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12466693 d:ForeignTax 2023-05-01 2024-04-30 12466693 d:ForeignTax 2022-05-01 2023-04-30 12466693 d:ShareCapital 2023-05-01 2024-04-30 12466693 d:ShareCapital 2024-04-30 12466693 d:ShareCapital 2022-05-01 2023-04-30 12466693 d:ShareCapital 2023-04-30 12466693 d:ShareCapital 2022-05-01 12466693 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 12466693 d:RetainedEarningsAccumulatedLosses 2024-04-30 12466693 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 12466693 d:RetainedEarningsAccumulatedLosses 2023-04-30 12466693 d:RetainedEarningsAccumulatedLosses 2022-05-01 12466693 c:FRS102 2023-05-01 2024-04-30 12466693 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12466693 c:FullAccounts 2023-05-01 2024-04-30 12466693 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12466693 2 2023-05-01 2024-04-30 12466693 6 2023-05-01 2024-04-30 12466693 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 12466693










BAKELINE LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024



 
BAKELINE LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 




COMPANY SECRETARY
William Bennett



REGISTERED NUMBER
12466693



REGISTERED OFFICE
12th Floor Aldgate Tower
2 Leman Street

London

E1W 9US





 
BAKELINE LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 10


 
BAKELINE LIMITED
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

PRINCIPAL ACTIVITY

The principal activity of the company is to act as a holding company.

DIRECTORS

The directors who served during the year were:

Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 27 December 2025 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
BAKELINE LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
  
137,754
(23,719)

GROSS PROFIT/(LOSS)
  
137,754
(23,719)

Administrative expenses
  
(10,912)
(15)

OPERATING PROFIT/(LOSS)
  
126,842
(23,734)

Share of profit of joint venture
  
473,417
(553,653)

TOTAL OPERATING PROFIT/(LOSS)
  
600,259
(577,387)

Income from fixed assets investments
 4 
390,105
361,307

Interest receivable and similar income
  
139
-

Interest payable and similar charges
 5 
(493,164)
(77,001)

PROFIT/(LOSS) BEFORE TAX
  
497,339
(293,081)

Tax on profit/(loss)
 6 
1,123,341
72,802

PROFIT/(LOSS) FOR THE FINANCIAL YEAR
  
1,620,680
(220,279)

  

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
1,620,680
(220,279)

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
BAKELINE LIMITED
REGISTERED NUMBER:12466693

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Fixed Asset Investments
 7 
3,049,788
1,440,171

  
3,049,788
1,440,171

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 8 
1,495,069
1,042,570

Cash at bank and in hand
  
4,827
2,192

  
1,499,896
1,044,762

Creditors: amounts falling due within one year
 9 
(4,165,569)
(3,721,498)

NET CURRENT LIABILITIES
  
 
 
(2,665,673)
 
 
(2,676,736)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
384,115
(1,236,565)

  

NET ASSETS/(LIABILITIES)
  
384,115
(1,236,565)


CAPITAL AND RESERVES
  

Called up share capital 
  
35,101
35,101

Profit and loss account
 10 
349,014
(1,271,666)

TOTAL EQUITY / (DEFICIT)
  
384,115
(1,236,565)


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 were approved and authorised for issue by the board and were signed on its behalf on 27 December 2025.




David Pears
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
BAKELINE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2023
35,101
(1,271,666)
(1,236,565)


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
1,620,680
1,620,680


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
-
-


AT 30 APRIL 2024
35,101
349,014
384,115


The notes on pages 5 to 10 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2022
35,101
(1,051,387)
(1,016,286)


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year
-
(220,279)
(220,279)


TOTAL OTHER COMPREHENSIVE INCOME FOR THE YEAR
-
-
-


AT 30 APRIL 2023
35,101
(1,271,666)
(1,236,565)


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
BAKELINE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Bakeline Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12th Floor, Aldgate Tower, 2 Leman Street, London, E1W 9US. The principal place of
business is Haskell House, 152 West End Lane, London, NW6 1SD. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on a going concern basis even though the company has net current liabilities of £2,665,673 (2023: £2,676,736). The validity of the going concern concept is dependent on the continuing support from creditors. The directors believe that the going concern concept is applicable as the company will be able to meet its debts as and when they fall due, as they are confident that the principal creditors will continue to provide support as required for a period of at least 12 months from the date of approval of the financial statements.

 
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.

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'.

Page 5

 
BAKELINE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the fees receivable, exclusive of Value Added Tax.

 
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.

 
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 reporting date in the countries where the Company operates and generates income.

 
2.8

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

ASSOCIATES AND JOINT VENTURES

Associates and Joint Ventures are held at cost less impairment.

 
2.10

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.

 
2.11

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.

Page 6

 
BAKELINE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


EMPLOYEES




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3


4.


INCOME FROM INVESTMENTS

2024
2023
£
£

Income from fixed asset investments
390,105
361,307

390,105
361,307







5.


INTEREST PAYABLE AND SIMILAR CHARGES

2024
2023
£
£


Other loan interest payable
-
77,001

Loans from group undertakings
493,164
-

493,164
77,001

Page 7

 
BAKELINE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


TAXATION


2024
2023
£
£


FOREIGN TAX


Foreign tax on income for the year
(1,123,341)
(72,802)

(1,123,341)
(72,802)

TOTAL CURRENT TAX
(1,123,341)
(72,802)

DEFERRED TAX

TOTAL DEFERRED TAX
-
-


TAXATION ON LOSS ON ORDINARY ACTIVITIES
(1,123,341)
(72,802)

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19.5%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
497,339
(293,081)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19.5%)
124,335
(57,151)

EFFECTS OF:


Non-taxable income
(215,881)
(70,455)

Unrelieved tax losses carried forward
91,546
127,606

Unrelieved foreign tax suffered
(1,123,341)
(72,802)

TOTAL TAX CHARGE FOR THE YEAR
(1,123,341)
(72,802)


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.
 

Page 8

 
BAKELINE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


FIXED ASSET INVESTMENTS





Investment in joint ventures

£



COST OR VALUATION


At 1 May 2023
1,440,171


Foreign exchange movement
12,859


Other
1,123,341


Share of profit
473,417



At 30 April 2024
3,049,788





PARTICIPATING INTERESTS


The Company owns 48% of the issued share capital of WPAS Bidco Limited (registered in England).

 

8.


DEBTORS

2024
2023
£
£


Trade debtors
-
12,500

Prepayments and accrued income
1,495,069
1,030,070

1,495,069
1,042,570



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Amounts owed to group undertakings
4,165,569
3,717,405

Sundry loan
-
4,093

4,165,569
3,721,498



10.


RESERVES

Profit and loss account

The profit and loss account includes all current period retained profit and losses.

Page 9

 
BAKELINE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemptions from disclosure available to subsidiary undertakings under FRS102 Section 1A, paragraph 1 AC.35 in connection with intra group transactions.
During the year there were the following transactions with companies and entities in which the directors, Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.


2024
2023
£
£

Loan interest payable
-
77,001

At the year end there were the following balances with companies and entities in which the directors Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.

2024
2023
£
£



Loan due to WPG Treasury Limited
-
4,093


12.


CONTROLLING PARTY

The company is a wholly owned subsidiary of Pears Family Investments Limited, a company incorporated in England. The registered office is 12th Floor, Aldgate Tower, 2 Leman Street, London, E1W 9US. Group accounts can be obtained from the Registrar of Companies.


Page 10