Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-01falseNo description of principal activity3027falsetrue 07770608 2022-01-01 2022-12-31 07770608 2021-01-01 2021-12-31 07770608 2022-12-31 07770608 2021-12-31 07770608 c:Director1 2022-01-01 2022-12-31 07770608 d:PlantMachinery 2022-01-01 2022-12-31 07770608 d:PlantMachinery 2022-12-31 07770608 d:PlantMachinery 2021-12-31 07770608 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07770608 d:FurnitureFittings 2022-01-01 2022-12-31 07770608 d:Goodwill 2022-01-01 2022-12-31 07770608 d:Goodwill 2022-12-31 07770608 d:Goodwill 2021-12-31 07770608 d:CurrentFinancialInstruments 2022-12-31 07770608 d:CurrentFinancialInstruments 2021-12-31 07770608 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07770608 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07770608 d:ShareCapital 2022-12-31 07770608 d:ShareCapital 2021-12-31 07770608 d:RetainedEarningsAccumulatedLosses 2022-12-31 07770608 d:RetainedEarningsAccumulatedLosses 2021-12-31 07770608 c:FRS102 2022-01-01 2022-12-31 07770608 c:Audited 2022-01-01 2022-12-31 07770608 c:FullAccounts 2022-01-01 2022-12-31 07770608 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07770608 d:WithinOneYear 2022-12-31 07770608 d:WithinOneYear 2021-12-31 07770608 d:BetweenOneFiveYears 2022-12-31 07770608 d:BetweenOneFiveYears 2021-12-31 07770608 d:MoreThanFiveYears 2022-12-31 07770608 d:MoreThanFiveYears 2021-12-31 07770608 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 07770608 6 2022-01-01 2022-12-31 07770608 d:Goodwill d:OwnedIntangibleAssets 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 07770608









Terryberry Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2022

 
Terryberry Limited
Registered number: 07770608

Balance Sheet
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
959,798
1,161,961

Tangible assets
 5 
14,614
235,228

Investments
 6 
3,556,784
3,556,784

  
4,531,196
4,953,973

Current assets
  

Stocks
  
583,367
559,144

Debtors: amounts falling due within one year
 8 
1,344,926
1,254,385

Cash at bank and in hand
 9 
669,767
2,133,138

  
2,598,060
3,946,667

Creditors: amounts falling due within one year
 10 
(7,973,757)
(9,386,294)

Net current liabilities
  
 
 
(5,375,697)
 
 
(5,439,627)

  

Net liabilities
  
(844,501)
(485,654)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(844,502)
(485,655)

  
(844,501)
(485,654)


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 by: 




G Wiegmann
Director

Date: 29 September 2023

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

1.


General information

Terryberry Limited is a private company limited by share capital incorporated in England, registered number 07770608. The address of the registered office is 15 Beech Lane, Macclesfield, Cheshire, SK10 2DR. 
The nature of the company's operations and principal activities is that of employee reward platforms.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts

 
2.3

Going concern

Management have prepared forecasts which show the company will be able to realise its assets and discharge its liabilities in the normal course of business. In addition, continued financial support from the parent company has been confirmed. Accordingly, the directors believe it is appropriate to prepare the financial statements on a going concern basis. 

 
2.4

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.

 
2.5

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:

Revenue is recognised at the point when a customer redeems their points to collect a reward. 

Page 2

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

 
2.7

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.

 
2.8

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.

Page 3

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.10

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:

Plant and machinery
-
20%
straight line
Fixtures and fittings
-
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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.12

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 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.

 
2.13

Debtors

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

 
2.14

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. 

 
2.15

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2021 -27).

Page 5

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2022
2,121,624



At 31 December 2022

2,121,624



Amortisation


At 1 January 2022
959,663


Charge for the year
202,163



At 31 December 2022

1,161,826



Net book value



At 31 December 2022
959,798



At 31 December 2021
1,161,961



Page 6

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

5.


Tangible fixed assets





Plant and machinery

£



Cost 


At 1 January 2022
1,191,592


Additions
1,603



At 31 December 2022

1,193,195



Depreciation


At 1 January 2022
956,364


Charge for the year
222,217



At 31 December 2022

1,178,581



Net book value



At 31 December 2022
14,614



At 31 December 2021
235,228


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2022
3,556,784



At 31 December 2022
3,556,784





7.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 29 September 2023 by Chris Stewardson (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

Page 7

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

8.


Debtors

2022
2021
£
£


Trade debtors
1,241,085
1,212,915

Other debtors
9,119
-

Prepayments and accrued income
94,722
41,470

1,344,926
1,254,385



9.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
669,767
2,133,138

Less: bank overdrafts
-
(183,223)

669,767
1,949,915



10.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
-
183,223

Trade creditors
547,346
225,249

Amounts owed to group undertakings
6,678,888
7,531,743

Corporation tax
-
84,966

Other taxation and social security
50,366
77,608

Accruals and deferred income
697,157
1,283,505

7,973,757
9,386,294


Page 8

 
Terryberry Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2022

11.


Commitments under operating leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£



Not later than 1 year
50,492
89,714

Later than 1 year and not later than 5 years
172,500
185,125

Later than 5 years
-
37,500

222,992
312,339


12.


Controlling party

The company is a wholly owned subsidiary of Terryberry Company LLC, registered address is 2033 Oak Industrial, Grand Rapids, Michigan, USA.
There is no ultimate controlling party.  
 
Page 9