Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31truetrue2022-01-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08807528 2022-01-01 2022-12-31 08807528 2021-01-01 2021-12-31 08807528 2022-12-31 08807528 2021-12-31 08807528 c:Director1 2022-01-01 2022-12-31 08807528 d:OfficeEquipment 2022-01-01 2022-12-31 08807528 d:OfficeEquipment 2022-12-31 08807528 d:OfficeEquipment 2021-12-31 08807528 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08807528 d:Goodwill 2022-01-01 2022-12-31 08807528 d:Goodwill 2022-12-31 08807528 d:Goodwill 2021-12-31 08807528 d:CurrentFinancialInstruments 2022-12-31 08807528 d:CurrentFinancialInstruments 2021-12-31 08807528 d:Non-currentFinancialInstruments 2022-12-31 08807528 d:Non-currentFinancialInstruments 2021-12-31 08807528 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08807528 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08807528 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08807528 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08807528 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08807528 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 08807528 d:ShareCapital 2022-12-31 08807528 d:ShareCapital 2021-12-31 08807528 d:RetainedEarningsAccumulatedLosses 2022-12-31 08807528 d:RetainedEarningsAccumulatedLosses 2021-12-31 08807528 c:OrdinaryShareClass1 2022-01-01 2022-12-31 08807528 c:OrdinaryShareClass1 2022-12-31 08807528 c:OrdinaryShareClass1 2021-12-31 08807528 c:OrdinaryShareClass2 2022-01-01 2022-12-31 08807528 c:OrdinaryShareClass2 2022-12-31 08807528 c:OrdinaryShareClass2 2021-12-31 08807528 c:OrdinaryShareClass3 2022-01-01 2022-12-31 08807528 c:OrdinaryShareClass3 2022-12-31 08807528 c:OrdinaryShareClass3 2021-12-31 08807528 c:FRS102 2022-01-01 2022-12-31 08807528 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08807528 c:FullAccounts 2022-01-01 2022-12-31 08807528 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08807528









TOM MERRITT FINANCIAL SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
TOM MERRITT FINANCIAL SERVICES LIMITED
REGISTERED NUMBER: 08807528

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
10,000

Tangible assets
 5 
301
489

  
301
10,489

Current assets
  

Debtors: amounts falling due within one year
 6 
1,224,202
157,430

Cash at bank and in hand
 7 
7,496
21,315

  
1,231,698
178,745

Creditors: amounts falling due within one year
 8 
(940,663)
(64,363)

Net current assets
  
 
 
291,035
 
 
114,382

Total assets less current liabilities
  
291,336
124,871

Creditors: amounts falling due after more than one year
 9 
(24,864)
(34,781)

  

Net assets
  
266,472
90,090


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
266,372
89,990

  
266,472
90,090


Page 1

 
TOM MERRITT FINANCIAL SERVICES LIMITED
REGISTERED NUMBER: 08807528
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider 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 directors acknowledge their 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: 




T Merritt
Director

Date: 6 October 2023

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

Page 2

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Tom Merritt Financial Services Limited is a private company limited by shares incorporated in England & Wales (registered number: 08807528). The registered office of the company is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

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

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:

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.

 
2.3

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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

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 3

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

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 comprehensive income 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.

 
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:

Office equipment
-
25%
Straight line method

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. 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.

 
2.8

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. 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.

Page 4

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Intangible assets




Goodwill

£





At 1 January 2022
10,000


Disposals
(10,000)



At 31 December 2022

-






Net book value



At 31 December 2022
-



At 31 December 2021
10,000



Page 5

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2022
1,949



At 31 December 2022

1,949



Depreciation


At 1 January 2022
1,461


Charge for the year on owned assets
187



At 31 December 2022

1,648



Net book value



At 31 December 2022
301



At 31 December 2021
488


6.


Debtors

2022
2021
£
£


Trade debtors
10,762
8,907

Other debtors
1,213,440
148,523

1,224,202
157,430



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
7,496
21,315

7,496
21,315


Page 6

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
9,917
9,680

Trade creditors
-
1,800

Corporation tax
47,516
49,885

Other creditors
880,730
498

Accruals and deferred income
2,500
2,500

940,663
64,363



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
24,864
34,781

24,864
34,781



10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
9,917
9,680


9,917
9,680


Amounts falling due 2-5 years

Bank loans
24,864
34,781


24,864
34,781


34,781
44,461


Page 7

 
TOM MERRITT FINANCIAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



64 (2021 - 64) Ordinary A shares of £1.00 each
64
64
35 (2021 - 35) Ordinary B shares of £1.00 each
35
35
1 (2021 - 1) Ordinary C share of £1.00
1
1

100

100


 
Page 8