Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31true32023-08-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10283075 2023-08-01 2024-07-31 10283075 2022-08-01 2023-07-31 10283075 2024-07-31 10283075 2023-07-31 10283075 c:Director1 2023-08-01 2024-07-31 10283075 d:MotorVehicles 2023-08-01 2024-07-31 10283075 d:MotorVehicles 2024-07-31 10283075 d:MotorVehicles 2023-07-31 10283075 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10283075 d:OfficeEquipment 2023-08-01 2024-07-31 10283075 d:OfficeEquipment 2024-07-31 10283075 d:OfficeEquipment 2023-07-31 10283075 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10283075 d:ComputerEquipment 2023-08-01 2024-07-31 10283075 d:ComputerEquipment 2024-07-31 10283075 d:ComputerEquipment 2023-07-31 10283075 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10283075 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10283075 d:CurrentFinancialInstruments 2024-07-31 10283075 d:CurrentFinancialInstruments 2023-07-31 10283075 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10283075 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10283075 d:ShareCapital 2024-07-31 10283075 d:ShareCapital 2023-07-31 10283075 d:RetainedEarningsAccumulatedLosses 2024-07-31 10283075 d:RetainedEarningsAccumulatedLosses 2023-07-31 10283075 c:OrdinaryShareClass1 2023-08-01 2024-07-31 10283075 c:OrdinaryShareClass1 2024-07-31 10283075 c:OrdinaryShareClass1 2023-07-31 10283075 c:FRS102 2023-08-01 2024-07-31 10283075 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10283075 c:FullAccounts 2023-08-01 2024-07-31 10283075 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10283075 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10283075









BILLY THE DUCK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
BILLY THE DUCK LTD
REGISTERED NUMBER: 10283075

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
89,250
4,519

  
89,250
4,519

Current assets
  

Debtors: amounts falling due within one year
 5 
1,010,362
1,626,263

Cash at bank and in hand
  
73,095
38,644

  
1,083,457
1,664,907

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(1,798,523)
(1,794,557)

Net current liabilities
  
 
 
(715,066)
 
 
(129,650)

Total assets less current liabilities
  
(625,816)
(125,131)

  

Net liabilities
  
(625,816)
(125,131)


Capital and reserves
  

Called up share capital 
 7 
60,100
60,100

Profit and loss account
  
(685,916)
(185,231)

  
(625,816)
(125,131)


Page 1

 
BILLY THE DUCK LTD
REGISTERED NUMBER: 10283075
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 on 30 April 2025.



J Dein
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Billy The Duck Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 124 Finchley Road, London, NW3 5JS , England, United Kingdom.

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.

 
2.3

Revenue

Turnover comprises the invoiced cost of goods sold during the year, excluding value added tax, and net of trade discounts. The company’s policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

 
2.4

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.

Page 3

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

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 reporting date in the countries where the Company operates and generates income.

 
2.6

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:

Motor vehicles
-
4 years straight line
Office equipment
-
3-5 years straight line
Computer equipment
-
3-5 years 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.

 
2.7

Debtors

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

 
2.8

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. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price. 

Page 4

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

2024
2023
£
£

Wages and salaries
121,575
46,419

Social security costs
8,260
-

Cost of defined contribution scheme
2,489
522

132,324
46,941


The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
-
52,615
19,820
72,435


Additions
93,570
-
7,747
101,317



At 31 July 2024

93,570
52,615
27,567
173,752



Depreciation


At 1 August 2023
-
52,615
15,301
67,916


Charge for the year on owned assets
13,182
-
3,404
16,586



At 31 July 2024

13,182
52,615
18,705
84,502



Net book value



At 31 July 2024
80,388
-
8,862
89,250

Page 6

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,944
-

Amounts owed by group undertakings
958,189
1,584,865

Other debtors
50,229
41,398

1,010,362
1,626,263



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
22,995
99

Other taxation and social security
1,996
1,773

Other creditors
1,773,532
1,792,685

1,798,523
1,794,557



7.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



60,100 (2023 - 60,100) Ordinary shares of £1.00 each
60,100
60,100



8.


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 £2,489 (2023 - £746).
Contributions totalling £452 (2023 - £246) were payable to the fund at the reporting date and are included in creditors.

Page 7

 
BILLY THE DUCK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Related party transactions

At the reporting date, the company owed J Dein £1,750,950 (2023: £1,786,174) included within other creditors. 
At the reporting date, the company was owed £958,189 (2023: £1,584,865) from Freddie the Frog, a company under common ownership and included within other debtors. The loan is interest-free and repayable on demand. 

 
Page 8