Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31false8142023-11-01No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07824296 2023-11-01 2024-10-31 07824296 2022-11-01 2023-10-31 07824296 2024-10-31 07824296 2023-10-31 07824296 c:Director2 2023-11-01 2024-10-31 07824296 d:PlantMachinery 2023-11-01 2024-10-31 07824296 d:PlantMachinery 2024-10-31 07824296 d:PlantMachinery 2023-10-31 07824296 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 07824296 d:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 07824296 d:OtherPropertyPlantEquipment 2024-10-31 07824296 d:OtherPropertyPlantEquipment 2023-10-31 07824296 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 07824296 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 07824296 d:Goodwill 2023-11-01 2024-10-31 07824296 d:Goodwill 2024-10-31 07824296 d:Goodwill 2023-10-31 07824296 d:CurrentFinancialInstruments 2024-10-31 07824296 d:CurrentFinancialInstruments 2023-10-31 07824296 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 07824296 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07824296 d:ShareCapital 2024-10-31 07824296 d:ShareCapital 2023-10-31 07824296 d:RetainedEarningsAccumulatedLosses 2024-10-31 07824296 d:RetainedEarningsAccumulatedLosses 2023-10-31 07824296 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 07824296 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 07824296 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 07824296 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 07824296 c:FRS102 2023-11-01 2024-10-31 07824296 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 07824296 c:FullAccounts 2023-11-01 2024-10-31 07824296 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07824296 d:WithinOneYear 2024-10-31 07824296 d:WithinOneYear 2023-10-31 07824296 d:BetweenOneFiveYears 2024-10-31 07824296 d:BetweenOneFiveYears 2023-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2024-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2024-10-31 07824296 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-10-31 07824296 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 07824296









BINGO CLUBS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
BINGO CLUBS UK LIMITED
REGISTERED NUMBER: 07824296

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
23,010

  
-
23,010

Current assets
  

Stocks
 6 
-
3,247

Debtors: amounts falling due within one year
 7 
2,546
8,954

Cash at bank and in hand
  
5,099
39,206

  
7,645
51,407

Creditors: amounts falling due within one year
 8 
(953,531)
(824,121)

Net current liabilities
  
 
 
(945,886)
 
 
(772,714)

Provisions for liabilities
  

Deferred tax
 9 
-
(278)

Net liabilities
  
(945,886)
(749,982)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(945,986)
(750,082)

  
(945,886)
(749,982)


Page 1

 
BINGO CLUBS UK LIMITED
REGISTERED NUMBER: 07824296
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 on 30 January 2025.




M O'Byrne
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Bingo Clubs UK Limited (the 'Company') is a private company limited by shares incorporated in England and Wales. The registered office is The Castlegate Leisure Centre, Lombard Street, Newark, NG24 1BE.

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

The company stopped trading in May 2024 and closed its bingo hall.
The Company has net liabilities at the balance sheet date of £945,886 however as stated in note 12 to the accounts, this includes an amount owed to a group company totalling £951,283. The group company has confirmed it will not seek repayment of the loan until the company is able to do so. It is however noted that the ongoing trading of the company is reliant upon the group continuing to provide support.
The financial statements have been prepared on a going concern basis as the director is satisfied that the Company has the ongoing support from the wider group to continue for the foreseeable future, which has been taken as being at least twelve months from the date of approval of the financial statements.

  
2.3

Revenue

Revenue consists of the fair value of sales of goods and services net of VAT, rebates and discounts. The fair value of promotions and cash prizes are also deducted from the appropriate revenue streams.
Bingo
Revenue for Bingo is net of customer contribution to prizes but gross of Company contributed prizes. It is net of any VAT and deduction of gaming-related duties. Revenue is recognised on a weekly basis in which the game occurs.
Slot machines
Revenue for slot machines is based on cash received and is net of any cash prizes and movements in cash floats held. Revenue is recognised on a weekly basis in which cash is received.
Food and beverage
Revenue from food and beverage sales is recognised at the point of sale.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

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.

 
2.7

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 4

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.
 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Other fixed assets
-
25%
reducing balance

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.

 
2.10

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. 

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.

 
2.11

Debtors

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

 
2.12

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.

Page 5

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 14).


4.


Intangible assets




Goodwill

£



Cost


At 1 November 2023
40,000



At 31 October 2024

40,000



Amortisation


At 1 November 2023
40,000



At 31 October 2024

40,000



Net book value



At 31 October 2024
-



At 31 October 2023
-



Page 6

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





Plant and machinery
Other fixed assets
Total

£
£
£





At 1 November 2023
83,489
19,488
102,977


Disposals
(83,489)
(19,488)
(102,977)



At 31 October 2024

-
-
-





At 1 November 2023
63,813
16,154
79,967


Charge for the year on owned assets
4,207
761
4,968


Disposals
(68,020)
(16,915)
(84,935)



At 31 October 2024

-
-
-



Net book value



At 31 October 2024
-
-
-



At 31 October 2023
19,676
3,334
23,010


6.


Stocks

2024
2023
£
£

Bar and cafe stock
-
3,247



7.


Debtors

2024
2023
£
£


Other debtors
-
5,030

Prepayments and accrued income
2,546
3,924

2,546
8,954


Page 7

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
11,235

Other taxation and social security
-
7,354

Other creditors
953,531
801,704

Accruals and deferred income
-
3,828

953,531
824,121



9.


Deferred taxation




2024


£






At beginning of year
(278)


Utilised in year
278



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
278
5,753

Tax losses carried forward
(278)
(5,475)

-
278

The company has tax losses carried forward of £888,287 (2023 - £715,265).


10.


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 £Nil (2023 - £2,928). No contributions (2023 - £Nil) were payable at the balance sheet date.

Page 8

 
BINGO CLUBS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£



Not later than 1 year
-
43,500

Later than 1 year and not later than 5 years
-
29,000

-
72,500

2024
2023

£
£



Not later than 1 year
-
27,055

Later than 1 year and not later than 5 years
-
7,603

-
34,658


12.


Related party transactions

Included within other creditors is £951,283 (2023 - £796,283) owed to a group company.


13.


Controlling party

The Company is a wholly owned subsidiary of Wide Atlantic Limited, a company incorporated in Ireland with a registered office at 43 Parnell Street, Limerick, Ireland. The ultimate parent undertaking is Crowncast Holdings Limited and the ultimate controlling party is considered to be the directors.
The largest group in which the results of the Company are consolidated is headed by Crowncast Holdings Limited. The consolidated financial statements of this company are available to the public and may be obtained from the CRO.

 
Page 9