Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3112022-04-01falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10295265 2022-04-01 2023-03-31 10295265 2021-04-01 2022-03-31 10295265 2023-03-31 10295265 2022-03-31 10295265 c:Director1 2022-04-01 2023-03-31 10295265 d:ComputerEquipment 2022-04-01 2023-03-31 10295265 d:ComputerEquipment 2023-03-31 10295265 d:ComputerEquipment 2022-03-31 10295265 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10295265 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 10295265 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 10295265 d:CurrentFinancialInstruments 2023-03-31 10295265 d:CurrentFinancialInstruments 2022-03-31 10295265 d:Non-currentFinancialInstruments 2023-03-31 10295265 d:Non-currentFinancialInstruments 2022-03-31 10295265 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10295265 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10295265 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10295265 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10295265 d:ShareCapital 2023-03-31 10295265 d:ShareCapital 2022-03-31 10295265 d:RetainedEarningsAccumulatedLosses 2023-03-31 10295265 d:RetainedEarningsAccumulatedLosses 2022-03-31 10295265 c:FRS102 2022-04-01 2023-03-31 10295265 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10295265 c:FullAccounts 2022-04-01 2023-03-31 10295265 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10295265 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10295265










TENDERLAKE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
TENDERLAKE LTD
REGISTERED NUMBER: 10295265

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
2,025
4,050

Tangible assets
 6 
518
834

  
2,543
4,884

Current assets
  

Debtors: amounts falling due within one year
 7 
14,237
1,353

Cash at bank and in hand
 8 
74,567
43,452

  
88,804
44,805

Creditors: amounts falling due within one year
 9 
(87,027)
(43,132)

Net current assets
  
 
 
1,777
 
 
1,673

Total assets less current liabilities
  
4,320
6,557

Creditors: amounts falling due after more than one year
 10 
(3,430)
(6,381)

Provisions for liabilities
  

Deferred tax
  
(130)
(158)

Net assets
  
760
18


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
750
8

  
760
18


Page 1

 
TENDERLAKE LTD
REGISTERED NUMBER: 10295265
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 on 29 September 2023.




................................................
F Madsen
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Tenderlake Ltd is a private company, limited by shares, registered in England and Wales, registration number 102952655. The address of its registered office is 34 Packington Street, London, N1 8QB.                 The principle activity of the company during the year was providing tender solutions.

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 financial statements have been prepared on a going concern basis as the company's shareholder has confirmed he will provide funds for the company to meet its forecast liabilities as they fall due.

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

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.

Page 3

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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:

Computer equipment
-
33%

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.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

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.

 
2.7

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. 

 
2.8

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Page 4

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
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.

Page 5

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Borrowing costs

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

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Page 6

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Dividends

2023
2022
£
£


Dividends
96,000
37,650

Page 7

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Intangible assets




Development expenditure

£



Cost


At 1 April 2022
8,100



At 31 March 2023

8,100



Amortisation


At 1 April 2022
4,050


Charge for the year on owned assets
2,025



At 31 March 2023

6,075



Net book value



At 31 March 2023
2,025



At 31 March 2022
4,050



Page 8

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
958



At 31 March 2023

958



Depreciation


At 1 April 2022
124


Charge for the year on owned assets
316



At 31 March 2023

440



Net book value



At 31 March 2023
518



At 31 March 2022
834


7.


Debtors

2023
2022
£
£


Trade debtors
2,723
-

Other debtors
11,514
1,353

14,237
1,353



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
74,567
43,452


Page 9

 
TENDERLAKE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
1,480
-

Trade creditors
640
-

Corporation tax
23,825
9,269

Other taxation and social security
5,274
4,990

Other creditors
2,537
3,596

Accruals and deferred income
53,271
25,277

87,027
43,132



10.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,430
6,381


The Bank loan is guaranteed by the UK Government as part of the Bounce Back Loan Scheme (BBLS).
Under the terms of the scheme the UK Government will cover any interest charges due on the loan for
the first 12 months. This bank loan was received on 10 May 2020. 

 
Page 10