Caseware UK (AP4) 2024.0.164 2024.0.164 2025-12-31 2025-12-31 0 No description of principal activity 2025-01-01 false 1 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10616134 2025-01-01 2025-12-31 10616134 2024-01-01 2024-12-31 10616134 2025-12-31 10616134 2024-12-31 10616134 c:Director1 2025-01-01 2025-12-31 10616134 d:CurrentFinancialInstruments 2025-12-31 10616134 d:CurrentFinancialInstruments 2024-12-31 10616134 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 10616134 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10616134 d:ShareCapital 2025-12-31 10616134 d:ShareCapital 2024-12-31 10616134 d:RetainedEarningsAccumulatedLosses 2025-12-31 10616134 d:RetainedEarningsAccumulatedLosses 2024-12-31 10616134 c:FRS102 2025-01-01 2025-12-31 10616134 c:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 10616134 c:FullAccounts 2025-01-01 2025-12-31 10616134 c:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10616134 4 2025-01-01 2025-12-31 10616134 6 2025-01-01 2025-12-31 10616134 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Registered number: 10616134 B12 LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
B12 LTD REGISTERED NUMBER: 10616134 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 1,257,054 |  | 1,133,727
|  |  | 1,257,054 |  | 1,133,727
Current assets |  |  |  |  |
Debtors | 6 | 2,053,765 |  | 2,033,284 |
Cash at bank and in hand | 7 | 48,904 |  | 5,255,296 |
|  | 2,102,669 |  | 7,288,580 |
Creditors: amounts falling due within one year | 8 | (1,146,185) |  | (5,635,891) |
Net current assets |  |  | 956,484 |  | 1,652,689
Net assets |  |  | 2,213,538 |  | 2,786,416
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 2,213,537 |  | 2,786,415
|  |  | 2,213,538 |  | 2,786,416
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B12 LTD REGISTERED NUMBER: 10616134 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 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 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 by:
Richard Paul
Director
Date: 24 August 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
B12 Ltd (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and is domiciled in England. The Company's registered office is located at 124 Finchley Road, London, NW3 5JS. 2.Accounting policies
| 2.1 | Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
| 2.2 | Basis of preparation of financial statements
The financial statements of the Company 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 preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies. Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
| 2.3 | Functional and presentational currency
Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency"). The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
| 2.4 | Exemption from preparing consolidated financial statements
The Company is exempt from the requirement to prepare consolidated financial statements by virtue of sections 383 and 399 of the Companies Act 2006 as the Company and its subsidiary undertakings, both individually and on consolidation, are subject to the small companies regime. The financial statements therefore present information about the Company as an individual undertaking and not about its Group. Page 3
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Going concern
The directors are of the opinion that based on current and expected operational performance, there is a reasonable expectation that the Company shall have adequate financial resources available at its disposal to continue in operational existence. For this reason, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern. The directors therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
| 2.6 | Pensions
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 other creditors as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 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 | Current and deferred taxation
Taxation for the financial reporting period comprises of current (i.e. corporation) and deferred taxation which are recognised in profit or loss. Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the UK where the Company solely operates and generates taxable income. Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date and are expected to apply when the related deferred tax asset/liability is realised/settled. Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised. Page 4
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Fixed asset investments
Fixed asset investments comprise of holdings in the following: Holdings in unlisted company shares of subsidiary undertakings Such holdings are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less provision for impairment at the balance sheet date. Holdings in unlisted property unit trusts Such holdings are accounted for using the equity method on the grounds that the trusts are transparent for taxation purposes in the UK where the Company solely operates. Under this method, the Company recognises its investment at cost and subsequently adjusts this for its share of profits or losses, recognised in profit or loss within non-operating items, distributions made by the trusts and accumulated provision for impairment.
| 2.10 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form. Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
| 2.11 | Debtors
Debtors are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment.
| 2.12 | Cash and cash equivalents
Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours, subject to an insignificant risk of changes in value and held at floating interest rates linked to bank rates. Page 5
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.13 | Creditors
Short term creditors are measured at the transaction price. Other loans that are non-interest bearing and repayable upon demand and the Company holding cash reserves in excess of its working capital requirements are initially measured and subsequently held at transaction price and as falling due within one year. Other financial liabilities, including interest bearing loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.14 | Equity
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account. Dividends are recognised when they become legally payable.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually reevaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical judgments in applying the entity’s accounting policies There are no critical judgments made in applying the entity's accounting policies. Critical accounting estimates and assumptions The estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below: Assessment of indicators of impairment in fixed asset investments held ∙In their assessment, the directors consider both externally available and internal sources of information, such as historic and expected market activity and cash flows. Recoverable value of debtors ∙When determining the recoverable value of debtors, the directors consider a variety of factors including, in the case of amounts owed by group undertakings and connected parties, the forecasted financial performance and expected cash flows, ageing profile and historical experience. Page 6
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 0). In accordance with UK legislation, certain office holders (i.e. registered company directors or secretaries) of the Company are not employees of the Company on the grounds that they are not party to a contract with the Company that meets the criteria for status of an employee.
5. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2025 | 3 | 1,133,724 | 1,133,727
| Additions | - | 123,327 | 123,327
| At 31 December 2025 | 3 | 1,257,051 | 1,257,054
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year |  |
| Amounts owed by group undertakings | 745,345 | 1,425,070
| Other debtors | 1,166,078 | 6,554
| Prepayments and accrued income | - | 601,660
| Deferred taxation | 142,342 | -
|  | 2,053,765 | 2,033,284
| Amounts owed by group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment. At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2024: £nil)
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B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 48,904 | 5,255,296
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 370,464 | 4,383,022
| Trade creditors | 38,491 | 2,869
| Other taxation and social security | 7,230 | -
| Accruals and deferred income | 730,000 | 1,250,000
|  | 1,146,185 | 5,635,891
| Amounts owed to group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.
9. | Financial instruments
The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.
10. | Pension commitments
The pension cost charge represents contributions payable by the Company towards defined contribution pension schemes and for the year amounted to £660 (2024: £nil). Employee and employer contributions totalling £nil (2024: £nil) were payable by the Company at the balance sheet date and are included in creditors falling due within one year. Page 8
B12 LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Related party transactions
| The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings. At the balance sheet date, the Company owed companies and partnerships under common control £1,068,976 (2024: £130). Amounts owed are unsecured, interest-free and repayable on demand with no fixed date of repayment. There were no other related party transactions and/or period end balances to report in accordance with the UK Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.
12. | Controlling party
The Company was and continues to be under the control of its directors.
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