Caseware UK (AP4) 2024.0.164 2024.0.164 2023-08-01falseThe principal activity of the company is the provision of online education services.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09698837 2023-08-01 2024-07-31 09698837 2022-08-01 2023-07-31 09698837 2024-07-31 09698837 2023-07-31 09698837 c:Director1 2023-08-01 2024-07-31 09698837 d:CurrentFinancialInstruments 2024-07-31 09698837 d:CurrentFinancialInstruments 2023-07-31 09698837 d:Non-currentFinancialInstruments 2024-07-31 09698837 d:Non-currentFinancialInstruments 2023-07-31 09698837 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 09698837 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09698837 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 09698837 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 09698837 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 09698837 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 09698837 d:ShareCapital 2024-07-31 09698837 d:ShareCapital 2023-07-31 09698837 d:RetainedEarningsAccumulatedLosses 2024-07-31 09698837 d:RetainedEarningsAccumulatedLosses 2023-07-31 09698837 c:FRS102 2023-08-01 2024-07-31 09698837 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09698837 c:FullAccounts 2023-08-01 2024-07-31 09698837 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09698837 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 09698837










SBS & Partners Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2024


 
SBS & Partners Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of SBS & Partners Limited for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SBS & Partners Limited for the year ended 31 July 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of SBS & Partners Limited in accordance with the terms of our engagement letter dated 16 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of SBS & Partners Limited and state those matters that we have agreed to state to the director of SBS & Partners Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SBS & Partners Limited and its director for our work or for this report. 

It is your duty to ensure that SBS & Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SBS & Partners Limited. You consider that SBS & Partners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SBS & Partners Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
16 April 2025
Page 1

 
SBS & Partners Limited
Registered number: 09698837

Balance Sheet
As at 31 July 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
25,708
600

Cash at bank and in hand
  
1,505
36,667

  
27,213
37,267

Creditors: amounts falling due within one year
 5 
(129,880)
(36,546)

Net current (liabilities)/assets
  
 
 
(102,667)
 
 
721

Total assets less current liabilities
  
(102,667)
721

Creditors: amounts falling due after more than one year
 6 
-
(93,359)

  

Net liabilities
  
(102,667)
(92,638)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(102,767)
(92,738)

  
(102,667)
(92,638)


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 by: 



................................................
Igor Illenko
Director

Date: 15 April 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
SBS & Partners Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

1.


General information

The Company is limited by shares and incorporated in England, registered number 09698837. The registered office of the Company is 2nd Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA. The principal activity of the Company is the provision of online education services.
The accounts are presented in GBP and rounded to the nearest £1.

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

Notwithstanding the net liabilities of £102,667 (2023 - £92,638) the financial statements have been prepared on a going concern basis. This is because the director is of the opinion that the Company has adequate working capital to cover its foreseeable requirements for the next 12 months. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount and to provide for any further liabilities that might arise.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

All other foreign exchange gains and losses are presented in profit or loss within administrative expenses.

 
2.4

Finance costs

Finance costs are charged to profit or loss 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

 
SBS & Partners Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

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 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Amounts owed by related parties
453
600

Other debtors
25,255
-

25,708
600


Page 4

 
SBS & Partners Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
93,423
-

Trade creditors
-
402

Amounts owed to related parties
2,428
6,870

Other creditors
29,862
26,107

Accruals and deferred income
4,167
3,167

129,880
36,546



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
-
93,359

-
93,359



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
93,423
-


93,423
-

Amounts falling due 1-2 years

Other loans
-
93,359


-
93,359



93,423
93,359



8.


Transactions with directors

I Illenko (director)
During the year the company provided a loan to the director. At the balance sheet date the amount due from the director was £24,755 (2023: £nil). Interest is charged at a rate of 2.25% per annum and the loan is repayable on demand.

Page 5