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Registered number: 09729292









PEPPER DEALS LTD









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PEPPER DEALS LTD
REGISTERED NUMBER: 09729292

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,931
21,990

Current assets
  

Debtors: amounts falling due within one year
 5 
5,516,369
3,538,590

Cash at bank and in hand
  
484,871
818,464

  
6,001,240
4,357,054

Creditors: amounts falling due within one year
 6 
(1,955,921)
(2,622,048)

Net current assets
  
 
 
4,045,319
 
 
1,735,006

Total assets less current liabilities
  
4,060,250
1,756,996

  

Net assets
  
4,060,250
1,756,996


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,060,150
1,756,896

  
4,060,250
1,756,996


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 28 April 2025.




O Weeks
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Pepper Deals Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 63/66 Hatton Garden, Fifth Floor, Suite 23, London, EC1N 8LE.

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

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is measured based on the consideration specified in a contract with a customer. The company recognises revenue when it transfers control over a good or service to a customer. 
Commission revenue is generally earned when an end user makes a valid click on the retailers advertising media and this subsequently results in a business transaction with the retailer (a purchase of goods and/or services, registration on retailer website etc.).
Commission revenue is recognised based on transaction reports available from the respective retailers/merchants, either directly or through an affiliate network (which in turn has business relationships with retailers/merchants). The company's revenue is reported net of returns. Returns are estimated based on historical cancellation rates applied on transactions that are not validated at the reporting date. 
In addition, the Company provides advertising services in a form of visibility packages. The advertising services are usually provided during the agreed period of time (on average 30 days). The revenue for such services is recognised over time reflecting that the customers receive benefits evenly over the advertising period. 

 
2.4

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.

 
2.5

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 3

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Taxation

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.


 
2.7

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Fixtures and fittings
-
33%
straight line
Office equipment
-
20%
straight line

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.

Page 4

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.8

Debtors

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

  
2.9

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.

  
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition offinancial assets and liabilities like trade and other debtors and creditors, loans from banks and otherthird parties, loans to related parties and investments in ordinary shares.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 39 (2023 - 38).

Page 5

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 January 2024
55,315
12,227
67,542


Additions
5,934
-
5,934


Disposals
(2,138)
-
(2,138)



At 31 December 2024

59,111
12,227
71,338



Depreciation


At 1 January 2024
33,325
12,227
45,552


Charge for the year on owned assets
12,049
-
12,049


Disposals
(1,194)
-
(1,194)



At 31 December 2024

44,180
12,227
56,407



Net book value



At 31 December 2024
14,931
-
14,931



At 31 December 2023
21,990
-
21,990

Page 6

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
344,747
412,378

Amounts owed by group undertakings
2,671,327
1,016,442

Other debtors
6,900
6,900

Prepayments and accrued income
2,493,395
2,102,870

5,516,369
3,538,590



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20,393
16,908

Amounts owed to group undertakings
367,756
2,106,303

Corporation tax
848,975
209,311

Other taxation and social security
519,278
164,222

Other creditors
9,000
19,998

Accruals and deferred income
190,519
105,306

1,955,921
2,622,048


Page 7

 
PEPPER DEALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Change in accounting policy

During the financial year, the Company changed their accounting policy in respect of recognising revenue. The change was made as a result of resources now available to the entity enabling the Company to make better use of live data and transactions enabling the accounts to provide more reliable and relevant information. 
The change of accounting policy had the following impact on each statement line. 

2024
2023
£
£
Sales

(418,074)

(852,294)
 
Prepayments and accrued income

1,270,369

852,294
 
Corporation tax liability

(317,592)

(200,289)
 
Corporation tax expense

117,302

200,289
 
Retained earnings

(652,005)

-
 

Due to the lack of historic information available, it is impracticable to amend the figures prior to the 2023 financial year and therefore the first accounting period in which the change in accounting policy was applied was for the year ended 31 December 2023.


8.


Pension commitments

The Company operates a defined pension scheme. The assets of the scheme are held separately from those of the Company in an independently administrated fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £41,712 (2023 - £42,973). Contributions totaling £8,141 (2023 - £7,998) were payable to the fund at the balance sheet date.


9.


Related party transactions

The Company has taken the exemption from disclosing related party transactions with wholly owned subsidiaries within the Group under FRS 102 Section 33.1A.


10.


Ultimate parent undertaking

The Company's ultimate parent undertaking is Atolls GmbH (formerly known as Global Savings Group GmbH), a Company incorporated in Germany.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 April 2025 by Gary Leonard (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 8