Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-312023-01-01falseprovision of interactive systems for exhibitions.2521falsetruefalse 12159269 2023-01-01 2023-12-31 12159269 2022-01-01 2022-12-31 12159269 2023-12-31 12159269 2022-12-31 12159269 1 2023-01-01 2023-12-31 12159269 d:Director1 2023-01-01 2023-12-31 12159269 d:Director2 2023-01-01 2023-12-31 12159269 d:Director2 2023-12-31 12159269 d:Director3 2023-01-01 2023-12-31 12159269 d:RegisteredOffice 2023-01-01 2023-12-31 12159269 c:PlantMachinery 2023-01-01 2023-12-31 12159269 c:PlantMachinery 2023-12-31 12159269 c:PlantMachinery 2022-12-31 12159269 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12159269 c:CurrentFinancialInstruments 2023-12-31 12159269 c:CurrentFinancialInstruments 2022-12-31 12159269 c:Non-currentFinancialInstruments 2023-12-31 12159269 c:Non-currentFinancialInstruments 2022-12-31 12159269 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 12159269 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12159269 c:ShareCapital 2023-12-31 12159269 c:ShareCapital 2022-12-31 12159269 c:RetainedEarningsAccumulatedLosses 2023-12-31 12159269 c:RetainedEarningsAccumulatedLosses 2022-12-31 12159269 d:OrdinaryShareClass1 2023-01-01 2023-12-31 12159269 d:OrdinaryShareClass1 2023-12-31 12159269 d:FRS102 2023-01-01 2023-12-31 12159269 d:Audited 2023-01-01 2023-12-31 12159269 d:FullAccounts 2023-01-01 2023-12-31 12159269 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12159269 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12159269 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12159269














UNUSUAL PROJECTS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
UNUSUAL PROJECTS LIMITED
 
 
COMPANY INFORMATION


Directors
C A Fenner 
D C Herron (appointed 20 September 2024)
C R Nuttall 




Registered number
12159269



Registered office
5-10 Bolton Street

London

W1J 8BA




Independent auditors
Sopher + Co LLP
Chartered Accountants & Statutory Auditors

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
UNUSUAL PROJECTS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 7


 
UNUSUAL PROJECTS LIMITED
REGISTERED NUMBER:12159269

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
40,291
62,639

Current assets
  

Debtors due after more than 1 year
  
-
13,251

Debtors: amounts falling due within one year
 6 
569,767
362,180

Cash at bank and in hand
  
72,562
14,190

  
642,329
389,621

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,641,840)
(1,156,827)

Net current liabilities
  
 
 
(999,511)
 
 
(767,206)

Net liabilities
  
(959,220)
(704,567)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(959,320)
(704,667)

  
(959,220)
(704,567)


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 25 March 2025.




D C Herron
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Unusual Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50-10 Bolton Street, London, W1J 8BA.
The principal activity of the company continued to be that of providing interactive systems for exhibitions.

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

As at the Statement of Financial Position date, the Company had net liabilities of £959,220 including amounts due to two group companies totalling £1,403,218. Since the year-end, but prior to the approval of these financial statements, both of these debts have been fully waived, returning the Company to a positive net asset position.
The directors have prepared an assessment of the future financial performance of the Company, including cash flow projections, operational viability and a review of contracts that have already been obtained and the anticipated revenue and profitability these are expected to generate. Based on this assessment, the loan waivers noted above, and the assurance of the ultimate parent company that the group will continue to support the Company for at least the next twelve months from the date of their approval of these financial statements, the directors consider it appropriate to continue to prepare 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 £ Sterling.

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.





Page 2

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover represents the net invoiced sales of services, calculated on a cost plus margin basis. Revenue is recognised when the service is performed, reflecting the stage of completion of the contract.

 
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 contributes to 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

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 reporting 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 reporting 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 reporting date.


Page 3

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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
-
22.5%

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

Debtors

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

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 21).



Page 4

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost


At 1 January 2023
141,049


Additions
2,172



At 31 December 2023

143,221



Depreciation


At 1 January 2023
78,410


Charge for the year on owned assets
24,520



At 31 December 2023

102,930



Net book value



At 31 December 2023
40,291



At 31 December 2022
62,639


5.


Taxation

No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.
As at the year end, the company had corporation tax losses of £215,348 (2022: £111,016) representing a potential deferred tax asset totalling £57,622 (2022: £27,754), in respect of unutilised trade losses. A deferred tax asset has not been recognised in the financial statements as it cannot be foreseen with any underlying certainty as to when this asset will be realised in the near future.
Factors that may affect future tax charges
There were no factors that may affect future tax charges.

 





Page 5

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

As restated
2023
2022
£
£

Due after more than one year

Deferred tax asset
-
13,251


As restated
2023
2022
£
£

Due within one year

Trade debtors
446,291
337,077

Other debtors
33,976
-

Prepayments and accrued income
89,500
25,103

569,767
362,180



7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
126,425
78,612

Amounts owed to group undertakings
1,403,218
969,911

Other taxation and social security
96,335
68,747

Other creditors
5,862
2,982

Accruals and deferred income
10,000
36,575

1,641,840
1,156,827



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100


Page 6

 
UNUSUAL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Prior year adjustment

For the year ended 31 December 2022, a discrepancy was identified in the reported balances of amounts owed to group companies. The balances reported overstated the liabilities in the company by a total of £70,180. After further investigation, the discrepancy was identified to be in relation to periods predating 31 December 2022.
This error resulted in the overstatement of the amounts owed by group undertakings with a corresponding understatement of reserves. Consequently, a prior year adjustment has been made to correct these figures in the financial statements. 


10.


Related party transactions

At the year end the Company owed £674,594 (2022: £672,776) to Beck MBI Limited, the immediate parent company.
During the year the Company invoiced sales totalling £76,889 (2022: £nil) to Beck Interiors Limited, a fellow subsidiary of Beck MBI Limited. At the year end the Company was owed £44,717 (2022: £nil) and owed £728,624 (2022: £297,135) to Beck Interiors Limited.
During the year the Company invoiced sales totalling £111,702 (2022: £41,397) to The Hub Consulting  Limited, a fellow subsidiary of Beck MBI Limited. At the year end the Company was owed £46,103 (2022: 
£31,894) by The Hub Consulting Limited.


11.


Post balance sheet events

On 20 September 2024, the entire shareholding of Beck MBI Limited in the company was acquired by The Luxury Build Partner Ltd (formerly The Hub Holdco Limited). As part of the share purchase agreement, all amounts owed to group companies by Unusual Projects Limited were waived and the company was sold free of these debts. 


12.


Controlling party

During the year the immediate parent company was Beck MBI Limited, and the ultimate parent company was Beck MBI 2 Limited, both companies registered in England and Wales.
On 20 September 2024, the entire shareholding of Beck MBI Limited in the company was acquired by The Luxury Build Partner Ltd (formerly The Hub Holdco Limited) a company incorporated in England and Wales, with its registered office at 5-10 Bolton Street, London, England, W1J 8BA, which the directors now consider to be the ultimate parent undertaking. D C Herron, a director of the company, is the ultimate controlling party.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 March 2025 by Stephen Iseman FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 7