Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3145The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity49truetruefalse 03997511 2023-01-01 2023-12-31 03997511 2022-01-01 2022-12-31 03997511 2023-12-31 03997511 2022-12-31 03997511 c:Director2 2023-01-01 2023-12-31 03997511 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 03997511 d:Buildings d:LongLeaseholdAssets 2023-12-31 03997511 d:Buildings d:LongLeaseholdAssets 2022-12-31 03997511 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 03997511 d:PlantMachinery 2023-01-01 2023-12-31 03997511 d:PlantMachinery 2023-12-31 03997511 d:PlantMachinery 2022-12-31 03997511 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03997511 d:MotorVehicles 2023-01-01 2023-12-31 03997511 d:MotorVehicles 2023-12-31 03997511 d:MotorVehicles 2022-12-31 03997511 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03997511 d:FurnitureFittings 2023-01-01 2023-12-31 03997511 d:FurnitureFittings 2023-12-31 03997511 d:FurnitureFittings 2022-12-31 03997511 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03997511 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03997511 d:CurrentFinancialInstruments 2023-12-31 03997511 d:CurrentFinancialInstruments 2022-12-31 03997511 d:Non-currentFinancialInstruments 2023-12-31 03997511 d:Non-currentFinancialInstruments 2022-12-31 03997511 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03997511 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03997511 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03997511 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03997511 d:ShareCapital 2023-12-31 03997511 d:ShareCapital 2022-12-31 03997511 d:RetainedEarningsAccumulatedLosses 2023-12-31 03997511 d:RetainedEarningsAccumulatedLosses 2022-12-31 03997511 c:FRS102 2023-01-01 2023-12-31 03997511 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03997511 c:FullAccounts 2023-01-01 2023-12-31 03997511 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03997511 d:WithinOneYear 2023-12-31 03997511 d:WithinOneYear 2022-12-31 03997511 d:BetweenOneFiveYears 2023-12-31 03997511 d:BetweenOneFiveYears 2022-12-31 03997511 6 2023-01-01 2023-12-31 03997511 1 2023-12-31 03997511 2 2023-12-31 03997511 3 2023-12-31 03997511 1 2022-12-31 03997511 2 2022-12-31 03997511 3 2022-12-31 03997511 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03997511









BUBBLE CHAMBER LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BUBBLE CHAMBER LIMITED
REGISTERED NUMBER: 03997511

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
140,662
176,456

Investments
  
468,498
448,120

  
609,160
624,576

Current assets
  

Stocks
  
8,971
18,961

Debtors: amounts falling due within one year
 6 
854,097
290,970

Cash at bank and in hand
  
1,721,570
1,456,402

  
2,584,638
1,766,333

Creditors: amounts falling due within one year
 7 
(961,025)
(803,237)

Net current assets
  
 
 
1,623,613
 
 
963,096

Total assets less current liabilities
  
2,232,773
1,587,672

Creditors: amounts falling due after more than one year
 8 
(33,479)
(39,179)

Provisions for liabilities
  

Deferred tax
  
(28,415)
(34,912)

  
 
 
(28,415)
 
 
(34,912)

Net assets
  
2,170,879
1,513,581


Capital and reserves
  

Called up share capital 
  
101
100

Profit and loss account
  
2,170,778
1,513,481

  
2,170,879
1,513,581


Page 1

 
BUBBLE CHAMBER LIMITED
REGISTERED NUMBER: 03997511
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 24 December 2024.




B M Freedman
Director


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

Page 2

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Bubble Chamber Limited is a private company limited by shares and registered in England & Wales. The principal place of business is Prince Charles Cinema, 7 Leicester Place, London WC2H 7BY and the address of its registered office is 124 Finchley Road, London, NW3 5JS.

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 represents income receivable from productions, cinema receipts, catering supplies and
amounts invoiced in respect of management services provided during the year.

 
2.3

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.

Depreciation is provided on the following basis:

Leasehold improvements
-
over the period of the lease
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance
Furniture, fittings and equipment
-
20%
reducing balance

 
2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 3

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for
obselete and slow-moving items.

 
2.7

Debtors

Short term debtors are measured at transaction price, 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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition
of financial assets and liabilities like trade, other debtors, creditors to and loans from related parties.

 
2.10

Creditors

Short term creditors are measured at transaction price.

 
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.

Page 4

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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.

  
2.14

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 45 (2022 - 49).

Page 5

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible assets





Leasehold improvement
Plant & machinery
Motor vehicles
Furniture, fittings & equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
153,054
224,880
84,079
317,905
779,918


Additions
-
3,277
12,495
350
16,122


Disposals
-
(6,351)
(12,495)
-
(18,846)



At 31 December 2023

153,054
221,806
84,079
318,255
777,194



Depreciation


At 1 January 2023
122,343
155,858
62,466
262,795
603,462


Charge for the year on owned assets
8,709
14,321
4,323
11,372
38,725


Disposals
-
(5,655)
-
-
(5,655)



At 31 December 2023

131,052
164,524
66,789
274,167
636,532



Net book value



At 31 December 2023
22,002
57,282
17,290
44,088
140,662



At 31 December 2022
30,711
69,022
21,613
55,110
176,456

Page 6

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Listed investments
Unlisted investments
Other fixed asset investments
Total

£
£
£
£



Cost or valuation


At 1 January 2023
417,777
28,000
30,342
476,119


Additions
265,093
-
(265,093)
-


Disposals
(243,490)
-
243,490
-


Investment income
-
-
3,633
3,633


Revaluations
45,535
-
-
45,535


Profit/(Loss) on disposal
(26,135)
-
-
(26,135)


Management charges
-
-
(2,655)
(2,655)



At 31 December 2023

458,780
28,000
9,717
496,497



Impairment


At 1 January 2023
-
27,999
-
27,999



At 31 December 2023

-
27,999
-
27,999



Net book value



At 31 December 2023
458,780
1
9,717
468,498



At 31 December 2022
417,777
1
30,342
448,120


6.


Debtors

2023
2022
£
£


Trade debtors
83,818
71,244

Other debtors
477,595
153,691

Prepayments and accrued income
292,684
66,035

854,097
290,970


Page 7

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
128
60

Bank loan
5,719
5,581

Trade creditors
66,991
109,397

Corporation tax
281,539
151,118

Other taxation and social security
192,088
155,965

Other creditors
111,048
182,456

Accruals and deferred income
303,512
198,660

961,025
803,237



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
33,479
39,179

33,479
39,179


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
9,145
15,434

9,145
15,434

The loan is repayable by monthly instalments with interest payable at 2.5% per annum.

Page 8

 
BUBBLE CHAMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Related party transactions

Turnover includes management fees of £203,203 (2022: £200,845) receivable from companies in which the director is also a director.
Administrative expenses include management fees of £121,680 (2022: £121,757) payable to a business operated by a minority shareholder of the company.
At the reporting date, debtors include £113,399 (2022: £78,570) due from companies in which the director is also a director.
Advances to the director
At the reporting date, debtors include £290,301 (2022: creditors include £82,310) receivable from the director.


10.


Pension commitments

The company pays contributions to personal private pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £12,688 (2022: £11,384). At the reporting date, unpaid pension payments amounted to £2,691 (2022: £2,227).


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
147,500

Later than 1 year and not later than 5 years
-
257,250

-
404,750

Page 9