Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31282023-04-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06860599 2023-04-01 2024-03-31 06860599 2022-04-01 2023-03-31 06860599 2024-03-31 06860599 2023-03-31 06860599 c:Director1 2023-04-01 2024-03-31 06860599 d:MotorVehicles 2023-04-01 2024-03-31 06860599 d:MotorVehicles 2024-03-31 06860599 d:MotorVehicles 2023-03-31 06860599 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06860599 d:FurnitureFittings 2023-04-01 2024-03-31 06860599 d:FurnitureFittings 2024-03-31 06860599 d:FurnitureFittings 2023-03-31 06860599 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06860599 d:OfficeEquipment 2023-04-01 2024-03-31 06860599 d:OfficeEquipment 2024-03-31 06860599 d:OfficeEquipment 2023-03-31 06860599 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06860599 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06860599 d:Goodwill 2024-03-31 06860599 d:Goodwill 2023-03-31 06860599 d:CurrentFinancialInstruments 2024-03-31 06860599 d:CurrentFinancialInstruments 2023-03-31 06860599 d:Non-currentFinancialInstruments 2024-03-31 06860599 d:Non-currentFinancialInstruments 2023-03-31 06860599 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06860599 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06860599 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06860599 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06860599 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06860599 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06860599 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06860599 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06860599 d:ShareCapital 2024-03-31 06860599 d:ShareCapital 2023-03-31 06860599 d:RetainedEarningsAccumulatedLosses 2024-03-31 06860599 d:RetainedEarningsAccumulatedLosses 2023-03-31 06860599 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06860599 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06860599 c:FRS102 2023-04-01 2024-03-31 06860599 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06860599 c:FullAccounts 2023-04-01 2024-03-31 06860599 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06860599 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06860599









BUY LABELS FOR LESS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
BUY LABELS FOR LESS LIMITED
REGISTERED NUMBER: 06860599

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
114,951
117,589

  
114,951
117,589

Current assets
  

Stocks
  
147,300
151,000

Debtors: amounts falling due within one year
 6 
414,676
249,441

Cash at bank and in hand
  
87,198
458,528

  
649,174
858,969

Creditors: amounts falling due within one year
 7 
(181,831)
(340,617)

Net current assets
  
 
 
467,343
 
 
518,352

Total assets less current liabilities
  
582,294
635,941

Creditors: amounts falling due after more than one year
 8 
(16,962)
(26,694)

Provisions for liabilities
  

Deferred tax
 10 
(15,817)
(15,817)

Net assets
  
549,515
593,430


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
549,513
593,428

  
549,515
593,430


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.

Page 1

 
BUY LABELS FOR LESS LIMITED
REGISTERED NUMBER: 06860599
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.




................................................
D Pearson
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Buy Labels For Less Limited ("the Company") is a private Company, limited by shares and is incorporated in England and Wales. The address of the registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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 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 Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings 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.

 
2.4

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

Page 3

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
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 the Statement of income and retained earnings 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 the Statement of income and retained earnings 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.


  
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.

Page 4

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 annual bases:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
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 the Statement of income and retained earnings.

 
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. Work in progress and finished goods include labour and attributable overheads.

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 the Statement of income and retained earnings.

 
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.

 
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.

Page 5

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

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 Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

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.

Page 6

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 28).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
30,000



At 31 March 2024

30,000



Amortisation


At 1 April 2023
30,000



At 31 March 2024

30,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 7

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
69,183
150,684
33,427
253,294


Additions
-
1,364
28,542
29,906



At 31 March 2024

69,183
152,048
61,969
283,200



Depreciation


At 1 April 2023
21,755
100,562
13,388
135,705


Charge for the year on owned assets
11,857
12,786
7,901
32,544



At 31 March 2024

33,612
113,348
21,289
168,249



Net book value



At 31 March 2024
35,571
38,700
40,680
114,951



At 31 March 2023
47,428
50,122
20,039
117,589


6.


Debtors

2024
2023
£
£


Trade debtors
33,207
32,125

Other debtors
381,469
217,316

414,676
249,441


Page 8

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
45,401
178,076

Corporation tax
9,088
42,895

Other taxation and social security
87,966
58,018

Other creditors
11,126
23,378

Accruals and deferred income
18,250
28,250

181,831
340,617



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
16,962
26,694



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
6,962
16,694


26,962
36,694


Page 9

 
BUY LABELS FOR LESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
15,817



At end of year
15,817

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
15,817
15,817


11.


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 £4,590 (2023 - £6,499). There were outstanding contributions payable to the fund at the balance sheet date of £1,294 (2023 - £1,058).


12.


Related party transactions

At the year end the Company owed the directors £567 (2023 - £21,067).

 
Page 10