Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseThe company acts as a disclosed agent for The Crystalline Zone Limited, its parent company, and charges fees for the services provided.1312truetrue 07648025 2023-04-01 2024-03-31 07648025 2022-04-01 2023-03-31 07648025 2024-03-31 07648025 2023-03-31 07648025 c:Director1 2023-04-01 2024-03-31 07648025 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 07648025 d:Buildings d:LongLeaseholdAssets 2024-03-31 07648025 d:Buildings d:LongLeaseholdAssets 2023-03-31 07648025 d:FurnitureFittings 2023-04-01 2024-03-31 07648025 d:FurnitureFittings 2024-03-31 07648025 d:FurnitureFittings 2023-03-31 07648025 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07648025 d:OfficeEquipment 2023-04-01 2024-03-31 07648025 d:OfficeEquipment 2024-03-31 07648025 d:OfficeEquipment 2023-03-31 07648025 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07648025 d:ComputerEquipment 2023-04-01 2024-03-31 07648025 d:ComputerEquipment 2024-03-31 07648025 d:ComputerEquipment 2023-03-31 07648025 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07648025 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07648025 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 07648025 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 07648025 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 07648025 d:CurrentFinancialInstruments 2024-03-31 07648025 d:CurrentFinancialInstruments 2023-03-31 07648025 d:Non-currentFinancialInstruments 2024-03-31 07648025 d:Non-currentFinancialInstruments 2023-03-31 07648025 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07648025 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07648025 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07648025 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07648025 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07648025 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07648025 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07648025 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07648025 d:ShareCapital 2024-03-31 07648025 d:ShareCapital 2023-03-31 07648025 d:RetainedEarningsAccumulatedLosses 2024-03-31 07648025 d:RetainedEarningsAccumulatedLosses 2023-03-31 07648025 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 07648025 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 07648025 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2024-03-31 07648025 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-03-31 07648025 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07648025 c:OrdinaryShareClass1 2024-03-31 07648025 c:OrdinaryShareClass1 2023-03-31 07648025 c:FRS102 2023-04-01 2024-03-31 07648025 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07648025 c:FullAccounts 2023-04-01 2024-03-31 07648025 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07648025 2 2023-04-01 2024-03-31 07648025 6 2023-04-01 2024-03-31 07648025 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07648025









BRONZE ORCHID LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BRONZE ORCHID LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 11


 
BRONZE ORCHID LIMITED
REGISTERED NUMBER: 07648025

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,334
10,001

Tangible assets
 5 
8,077,207
8,298,084

  
8,080,541
8,308,085

Current assets
  

Stocks
 6 
300
2,066

Debtors: amounts falling due within one year
 7 
989,698
788,901

Cash at bank and in hand
 8 
83,177
153,140

  
1,073,175
944,107

Creditors: amounts falling due within one year
 9 
(5,778,574)
(6,742,821)

Net current liabilities
  
 
 
(4,705,399)
 
 
(5,798,714)

Total assets less current liabilities
  
3,375,142
2,509,371

Creditors: amounts falling due after more than one year
 10 
(2,691,667)
(1,836,667)

  

Net assets
  
683,475
672,704


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
683,375
672,604

  
683,475
672,704


Page 1

 
BRONZE ORCHID LIMITED
REGISTERED NUMBER: 07648025
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 profit and loss account 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: 




................................................
M H E Quinn
Director

Date: 24 June 2025

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

Page 2

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Bronze Orchid Limited ("the company") is a private company, limited by shares, incorporated in England and Wales with registration number 07648025. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The ongoing world conflicts have created significant operational and financial pressures on the company and the wider economy. Having considered these matters, loan arrangements and covenants, the contingency plans in place and the support available from its shareholder, the director considers the adoption of the going concern basis in preparing these financial statements is appropriate.

 
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.

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

Page 3

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Borrowing costs

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

Page 4

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Website development
-
33%
Straight line

 
2.11

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.

Page 5

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

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:

Long-term leasehold property
-
41
years
Fixtures and fittings
-
20%
Office equipment
-
25%
Computer equipment
-
25%

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.

 
2.12

Valuation of investments

Investments held as fixed assets are measured at cost less accumulated impairment, if any.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
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 profit or loss.

 
2.14

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.

 
2.15

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.

 
2.16

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 6

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

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


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).


4.


Intangible assets




Website development

£



Cost


At 1 April 2023
66,950



At 31 March 2024

66,950



Amortisation


At 1 April 2023
56,949


Charge for the year on owned assets
6,667



At 31 March 2024

63,616



Net book value



At 31 March 2024
3,334



At 31 March 2023
10,001



Page 7

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 April 2023
8,510,889
126,442
22,210
54,442
8,713,983


Additions
-
4,887
-
-
4,887


Disposals
-
(84,390)
(20,432)
(23,100)
(127,922)



At 31 March 2024

8,510,889
46,939
1,778
31,342
8,590,948



Depreciation


At 1 April 2023
260,688
99,127
21,246
34,838
415,899


Charge for the year on owned assets
208,586
9,271
445
7,462
225,764


Disposals
-
(84,390)
(20,432)
(23,100)
(127,922)



At 31 March 2024

469,274
24,008
1,259
19,200
513,741



Net book value



At 31 March 2024
8,041,615
22,931
519
12,142
8,077,207



At 31 March 2023
8,250,201
27,315
964
19,604
8,298,084

Page 8

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
300
2,066



7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
149,706
124,935

Other debtors
591,285
549,479

Prepayments and accrued income
248,707
114,487

989,698
788,901



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
83,177
153,140

Less: bank overdrafts
(1,053,129)
(444,329)

(969,952)
(291,189)



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,053,129
444,329

Bank loans
823,333
2,375,000

Trade creditors
480,351
336,817

Corporation tax
171,219
47,000

Other taxation and social security
136,173
180,413

Other creditors
3,051,524
3,203,503

Accruals and deferred income
62,845
155,759

5,778,574
6,742,821


Page 9

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,691,667
1,836,667


The bank loans are secured by a fixed and floating charge over the company's assets as well as those owned by the parent company. A personal guarantee is provided by the director for the sum of £750,000.
The bank loan for £1,615,000 bears interest at a rate of 3.00% over base rate. The loan is due for repayment in March 2028.
The Coronavirus Business Interruption loan of £3,800,000, of which £1,900,000 remained outstanding at 31 March 2024, bears interest at a rate of 3.5% per annum above the base rate and is repayable in full by August 2026.  
Loans are subject to covenant clauses, whereby the company is required to meet certain key financial ratios on an ongoing basis. Loan arrangements are subject to renegotiation from time to time as working capital requirements of the business change. These financial statements present the loan terms at 31 March 2024.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
823,333
2,375,000


823,333
2,375,000

Amounts falling due 1-2 years

Bank loans
1,076,667
760,000


1,076,667
760,000

Amounts falling due 2-5 years

Bank loans
1,615,000
1,076,667


1,615,000
1,076,667


3,515,000
4,211,667


Page 10

 
BRONZE ORCHID LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
83,177
153,140


Financial liabilities


Financial liabilities measured at fair value through profit or loss
1,053,129
444,329


Financial instruments measured at fair value through profit or loss comprise cash at bank and in hand and overdrafts.


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



14.


Pension commitments

The company operates a defined contribution 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 £14,722 (2023 - £14,257). Contributions totaling £2,667 (2023 - £2,596) were payable to the fund at the balance sheet date.


15.


Ultimate parent undertaking

The company's ultimate parent undertaking is The Crystalline Zone Limited, a company incorporated in Jersey with a registered office address of 2nd Floor, The Le Gallais Building, 54 Bath Street, St Helier, Jersey, JE1 1 FW.

 
Page 11