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Registered number: 12964078









BBB LIVERPOOL LTD

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
BBB LIVERPOOL LTD
REGISTERED NUMBER: 12964078

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
As restated
31 October
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
252,020

  
-
252,020

Current assets
  

Stocks
 5 
-
2,964

Debtors: amounts falling due within one year
 6 
16,586
18,357

Cash at bank and in hand
  
90,001
4,107

  
106,587
25,428

Creditors: amounts falling due within one year
 7 
(111,123)
(464,668)

Net current liabilities
  
 
 
(4,536)
 
 
(439,240)

Total assets less current liabilities
  
(4,536)
(187,220)

Creditors: amounts falling due after more than one year
 8 
-
(26,055)

  

Net liabilities
  
(4,536)
(213,275)


Capital and reserves
  

Called up share capital 
 10 
200
200

Profit and loss account
  
(4,736)
(213,475)

  
(4,536)
(213,275)

Page 1

 
BBB LIVERPOOL LTD
REGISTERED NUMBER: 12964078

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 1 May 2025.




................................................
Graham Bird
Director

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The Company was incorporated and registered in England and Wales on 21 October 2020 as a private company limited by shares with registered number 12964078. The Company’s registered office is Boom Battle Bar Oxford Street Ground Floor And Basement Level, 70-88 Oxford Street, London, W1D 1BS. Its principal activity is that of running the Boom Battle Bar venue in Liverpool. The venue comprises a bar surrounded by competitive socialising games such as axe throwing and crazy golf. 

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.

During the period, the reporting date was shortened to 31 March 2024 to align with the other entities in the XP Factory plc group. The reporting period is the period from 1 November 2023 to 31 March 2024 and therefore the comparatives for the year ended 31 October 2023 are not entirely comparable.
The financial statements are prepared in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a basis other than going concern which the members consider to be appropriate for the following reasons. 
In the year ended 31 March 2024, the Company generated a gross profit of £108,652 (2023: £261,862) and a profit for the financial year of £208,739 (2023: loss of £278,444). As at 31 March 2024, the Company had net current liabilities of £4,536 (2023: net current liabilities £439,240) and net liabilities of £4,536 (2023: net liabilities £213,275).   
During the year on 29 February 2024, the trade of the Company was transferred to BBB UK Property Ltd. The Company will remain open without trading until such a time that appropriate steps can be taken for the Company to enter into voluntary liquidation. As at the date of approving the financial statements, the directors are uncertain of the timeframe on this matter.  
As such, the financial statements have been prepared on a basis other than going concern. Notwithstanding this, there are no material changes in the presentation or carrying values of the assets and liabilities, and no further liabilities need to be provided for as a result of the decision to liquidate the Company. 

Page 3

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.4

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 amount of revenue can be measured reliably;
•  it is probable that the Company will receive the consideration due under the transaction.

 
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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

Page 4

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Tangible fixed assets

During the current reporting period, the management of the company conducted a review of the useful lives of its assets. As a result of this review, the useful lives of leasehold improvements has been revised from 5 years to 10 years, and the useful lives of games has been revised from 2 years to 5 years. This change in estimate has been applied prospectively from the beginning of the current reporting period.

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:

Short-term leasehold improvements
-
10 years
Office equipment
-
5 years
Fixtures and fittings
-
10 years
Computer equipment
-
4 years
Boom games
-
5 years

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

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 reporting 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 profit or loss.

 
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.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. 
 
Page 5

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 
Basic financial assets 
Basic financial assets, which include receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. 
Impairment of financial assets 
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. 
Derecognition of financial assets 
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. 
Classification of 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 deducting all of its liabilities. 
Basic financial liabilities 
Basic financial liabilities, including payables and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. 
Derecognition of financial liabilities 
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Page 6

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees during the period was 0 (2023 - 15).
During the year, staff were transferred to BBB UK Trading Ltd, a fellow subsidiary Company, who legally employ the staff. Staff costs are now recharged from BBB UK Trading Ltd to BBB Liverpool Ltd.


4.


Tangible fixed assets







Short-term leasehold improvements
Office equipment
Fixtures and fittings
Computer equipment
Boom games
Total

£
£
£
£
£
£





At 1 November 2023
587,217
10,762
9,441
1,346
13,877
622,643


Additions
578
-
2,170
8,366
-
11,114


Disposals
(587,795)
(10,762)
(11,611)
(9,712)
(13,877)
(633,757)



At 31 March 2024

-
-
-
-
-
-





At 1 November 2023
363,077
4,954
1,935
657
-
370,623


Charge for the period on owned assets
7,834
717
368
127
1,291
10,337


Disposals
(370,911)
(5,671)
(2,303)
(784)
(1,291)
(380,960)



At 31 March 2024

-
-
-
-
-
-



Net book value



At 31 March 2024
-
-
-
-
-
-



At 31 October 2023
224,140
5,808
7,506
689
13,877
252,020

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 March
31 October
2024
2023
£
£



Boom games
-
13,877

Page 7

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Stocks

31 March
31 October
2024
2023
£
£

Raw materials and consumables
-
2,964



6.


Debtors

31 March
As restated
31 October
2024
2023
£
£


Trade debtors
16,586
20

Prepayments and accrued income
-
18,337

16,586
18,357



7.


Creditors: Amounts falling due within one year

31 March
As restated
31 October
2024
2023
£
£

Trade creditors
2,743
19,708

Amounts owed to group undertakings
18,917
-

Corporation tax
5,597
5,597

Other taxation and social security
4,654
29,790

Obligations under finance lease and hire purchase contracts
-
6,672

Other creditors
321
283,140

Accruals and deferred income
78,891
119,761

111,123
464,668


Page 8

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

31 March
31 October
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
4,332

Other creditors
-
21,723

-
26,055


Obligations under finance leases and hire purchase contracts of £nil (2023 - £11,003) are secured over the asset financed.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

31 March
31 October
2024
2023
£
£


Within one year
-
6,671

Between 1-5 years
-
4,332

-
11,003


10.


Share capital

31 March
31 October
2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200


Page 9

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

11.


Prior year adjustment

The prior year adjustments relate to the following: 
• Recognition of electricity accrual that was omitted previously. The effect of this is an increase in
  accruals of £50,865 and an increase in admin expenses of the same amount.
• The correction of a trade creditor balance following the issuance of a credit note for the period in
  which the liability has remained on the books is £9,255, with a corresponding impact on
  prepayments of £7,712 and VAT of £1,542. 
ole51ed.png


12.


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 £628 (2023 - £1,533). Contributions totalling £305 (2023 - £231) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

The company loan with the director at the period end of £Nil (2023: £201,140). This director's loan has subsequently been transferred to BBB Franchise Ltd, a group entity which acquired trade and assets of BBB Liverpool Ltd on 1 November 2023.


14.


Controlling party

The immediate parent Company is BBB Franchise Ltd. The ultimate parent company is XP Factory plc, a company incorporated in England. The results of the Company are shown within the Consolidated Financial Statements of XP Factory plc. Copies of the Group accounts are available from the Chief Financial Officer, Graham Bird, Boom Battle Bar Oxford Street Ground Floor And Basement Level, 70-88 Oxford Street, London, W1D 1BS.
Page 10

 
BBB LIVERPOOL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

15.


Auditors' information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditors' report was qualified.

The qualification in the audit report was as follows:

We were not appointed as auditors of the company until after 31 October 2023. The directors were unable to present reliable evidence to confirm:
• accrued income and deferred income balances of £8,481 and £12,840 respectively as at 31
  October 2023;
• the validity of an impairment charge against the leasehold improvements of £306,570 as at 31
  October 2023;
In addition, in relation to the period under review, we were unable to obtain sufficient appropriate audit evidence to confirm: 
• Payroll related expenses including wages and salaries, national insurance and pension costs
  totalling £12,276 in relation to one month during the period ended 31 March 2024, as well as the
  employee numbers for this same period. 
• The business rates charged to the profit and loss of £30,025 as a result of the charge relating to
  clients estimates on the amounts payable. 
As a result, we were unable to obtain sufficient appropriate audit evidence to support the completeness, accuracy and valuation of the balances mentioned above. Consequently, we could not determine whether any adjustments to these amounts were necessary and whether there was any effect on the profit and loss for the periods ended 31 October 2023 and 31 March 2024.
Emphasis of matter - financial statements prepared on a basis other than going concern
We draw attention to note 2.2 to the financial statements, which describes the directors’ intention to wind up the Company. Therefore, the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2.2. 

The audit report was signed on 1 May 2025.
The senior statutory auditor was Tanya Craft.
The auditor was HW Fisher Audit (a trading name of Sumer Auditco Limited).


Page 11