Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false362023-01-010falsetruefalse 12511938 2023-01-01 2024-03-31 12511938 2022-01-01 2022-12-31 12511938 2024-03-31 12511938 2022-12-31 12511938 1 2023-01-01 2024-03-31 12511938 d:Director2 2023-01-01 2024-03-31 12511938 c:Buildings 2023-01-01 2024-03-31 12511938 c:Buildings c:LongLeaseholdAssets 2023-01-01 2024-03-31 12511938 c:Buildings c:LongLeaseholdAssets 2024-03-31 12511938 c:Buildings c:LongLeaseholdAssets 2022-12-31 12511938 c:FurnitureFittings 2023-01-01 2024-03-31 12511938 c:FurnitureFittings 2024-03-31 12511938 c:FurnitureFittings 2022-12-31 12511938 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 12511938 c:ComputerEquipment 2023-01-01 2024-03-31 12511938 c:ComputerEquipment 2024-03-31 12511938 c:ComputerEquipment 2022-12-31 12511938 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 12511938 c:OtherPropertyPlantEquipment 2023-01-01 2024-03-31 12511938 c:OtherPropertyPlantEquipment 2024-03-31 12511938 c:OtherPropertyPlantEquipment 2022-12-31 12511938 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 12511938 c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 12511938 c:CurrentFinancialInstruments 2024-03-31 12511938 c:CurrentFinancialInstruments 2022-12-31 12511938 c:Non-currentFinancialInstruments 2024-03-31 12511938 c:Non-currentFinancialInstruments 2022-12-31 12511938 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 12511938 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12511938 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 12511938 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 12511938 c:ShareCapital 2024-03-31 12511938 c:ShareCapital 2022-12-31 12511938 c:SharePremium 2024-03-31 12511938 c:SharePremium 2022-12-31 12511938 c:RetainedEarningsAccumulatedLosses 2024-03-31 12511938 c:RetainedEarningsAccumulatedLosses 2022-12-31 12511938 d:OrdinaryShareClass1 2023-01-01 2024-03-31 12511938 d:OrdinaryShareClass1 2024-03-31 12511938 d:OrdinaryShareClass1 2022-12-31 12511938 d:FRS102 2023-01-01 2024-03-31 12511938 d:Audited 2023-01-01 2024-03-31 12511938 d:FullAccounts 2023-01-01 2024-03-31 12511938 d:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 12511938 c:HirePurchaseContracts c:WithinOneYear 2024-03-31 12511938 c:HirePurchaseContracts c:WithinOneYear 2022-12-31 12511938 d:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 12511938 4 2023-01-01 2024-03-31 12511938 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2024-03-31 12511938 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2022-12-31 12511938 e:PoundSterling 2023-01-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12511938









BOOM BB ONE LTD

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
BOOM BB ONE LTD
REGISTERED NUMBER: 12511938

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 December
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
701,571
514,925

Current assets
  

Stocks
 5 
21,909
35,060

Debtors: amounts falling due within one year
 6 
574,165
168,978

Cash at bank and in hand
  
261,208
150,310

  
857,282
354,348

Creditors: amounts falling due within one year
 7 
(915,304)
(1,134,581)

Net current liabilities
  
 
 
(58,022)
 
 
(780,233)

Creditors: amounts falling due after more than one year
 8 
(395,833)
-

  

Net assets/(liabilities)
  
247,716
(265,308)


Capital and reserves
  

Called up share capital 
 10 
200
100

Share premium account
  
349,900
-

Profit and loss account
  
(102,384)
(265,408)

  
247,716
(265,308)


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 comprehensive income 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 19 February 2025.




................................................
Graham Bird
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The Company was incorporated and registered in England and Wales on 11 March 2020 as a private company limited by shares with registered number 12511938. The Company’s registered office is Boom Battle Bar Oxford Street Ground Floor And Basement Level, 70-88 Oxford Street, London, W1D 1BS. Its principal activity is that of running the owned and operated venue in Lakeside. The venue comprises a bar surrounded by competitive socialising games such as axe throwing and crazy golf. The Company is a wholly owned subsidiary of XP Factory plc.

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.

During the period, the reporting date was extended to 31 March 2024 to align with the other entities in the XP Factory plc group. The reporting period is the period from 1 January 2023 to 31 March 2024 and therefore the comparatives for the year ended 31 December 2022 are not entirely comparable.
The financial statements are prepared in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons.
The site at Lakeside has been performing satisfactorily and the Directors are confident that the Company will continue to be profitable and cash generative for the foreseeable future. The balance sheet contains £448,448 liabilities due to companies within the XP Factory Group. The Directors have made reasonable inquiries of the parent company and other companies in the parent company’s group, and the parent company has confirmed its intention, if required, to provide financial support to enable the Company to settle its liabilities as they fall due so that financial support will continue to be available for at least 12 months from approval of these financial statements and that neither the parent company nor other associated subsidiaries will seek repayment of the loans so as to impact the Company’s ability to operate as a going concern for a period of at least twelve months from the date of signing these financial statements.
Having undertaken a detailed budgeting exercise, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. 

  
2.3

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.

Page 2

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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 amount of revenue can be measured reliably;
•   it is probable that the Company will receive the consideration due under the transaction.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

Page 3

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

During the current reporting period, the management of the company conducted a review of the useful lives of its assets. As a result of this review, the useful lives of leasehold improvements has been revised from 5 years to 10 years, and the useful lives of games has been revised from 2 years to 5 years. This change in estimate has been applied prospectively from the beginning of the current reporting period.

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:

Leasehold aquisition
-
Life of lease
Leasehold improvements
-
10%
Fixtures and fittings
-
20%
Computer equipment
-
33%
Boom games
-
20%

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.

 
2.9

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.

At each reporting 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

Financial instruments

The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Page 4

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Basic financial assets
Basic financial assets, which include receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including payables and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees during the period was 0 (2022 - 36).
During the prior year, staff were transferred to BBB UK Trading Ltd, a fellow subsidiary Company, who legally employ the staff. Staff costs are recharged from BBB UK Trading Ltd to Boom BB One Ltd.

Page 5

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Leasehold improvements
Fixtures and fittings
Computer equipment
Boom games
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
224,131
494,873
7,279
19,792
746,075


Additions
187,251
85,033
12,415
53,785
338,484



At 31 March 2024

411,382
579,906
19,694
73,577
1,084,559



Depreciation


At 1 January 2023
66,209
151,466
3,343
10,132
231,150


Charge for the period on owned assets
18,048
123,793
4,603
5,394
151,838



At 31 March 2024

84,257
275,259
7,946
15,526
382,988



Net book value



At 31 March 2024
327,125
304,647
11,748
58,051
701,571



At 31 December 2022
157,922
343,407
3,936
9,660
514,925




The net book value of land and buildings may be further analysed as follows:


31 March
31 December
2024
2022
£
£

Short-term leasehold improvements
327,125
157,922


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 March
31 December
2024
2022
£
£



Boom games
9,542
-

Page 6

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Stocks

31 March
31 December
2024
2022
£
£

Raw materials and consumables
21,909
35,060



6.


Debtors

31 March
31 December
2024
2022
£
£


Trade debtors
49,403
81,870

Amounts owed by group undertakings
312,385
45,950

Other debtors
-
1,594

Prepayments and accrued income
212,377
39,564

574,165
168,978


The amounts due from group undertakings are unsecured, interest-free and repayable on demand. The amounts owing are to be settled in cash.


7.


Creditors: Amounts falling due within one year

31 March
31 December
2024
2022
£
£

Trade creditors
150,992
40,006

Amounts owed to group undertakings
448,448
506,659

Other taxation and social security
29,429
62,006

Obligations under finance lease and hire purchase contracts
2,518
-

Other creditors
1,162
266

Accruals and deferred income
282,755
525,644

915,304
1,134,581


The amounts owing to group undertakings are unsecured, interest-free and repayable on demand. The amounts owing are to be settled in cash. The directors consider that the carrying amounts approximate to their fair values.
Obligations under finance lease and hire purchase contracts of £2,518 (2022 - £nil) are secured over the asset financed.

Page 7

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

31 March
31 December
2024
2022
£
£

Accruals and deferred income
395,833
-



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

31 March
31 December
2024
2022
£
£


Within one year
2,518
-

Page 8

 
BOOM BB ONE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Share capital

31 March
31 December
2024
2022
£
£
Allotted, called up and fully paid



200 (2022 - 100) Ordinary shares of £1.00 each
200
100


On 27 March 2024, 100 ordinary £1 shares were issued at a premuim of £3,499 per share.


11.


Post balance sheet events

On 27 September 2024, the company entered into a cross guarantee and debenture in relation to a bank facility of a fellow group undertaking.


12.


Controlling party

During the year the immediate parent company was BBB Ventures Ltd, a company incorporated in England. On the 27 March 2024, the immediate parent changed to BBB Franchise Ltd, a company incorporated in England. The ultimate parent company is XP Factory plc, a company incorporated in England. 
The Directors consider XP Factory plc, a company incorporated in England, to be the controlling party of the Company. The results of the Company are shown within the Consolidated Financial Statements of XP Factory plc. Copies of the Group accounts are available from the Company Secretary, Graham Bird, Boom Battle Bar Oxford Street Ground Floor And Basement Level, 70-88 Oxford Street, London, W1D 1BS.


13.


Auditors' information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The audit report was signed on 19 February 2025.
The senior statutory auditor was Tanya Craft.
The auditor was HW Fisher Audit (a trading name of Sumer Auditco Limited).


Page 9