Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity63trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09869638 2022-04-01 2023-03-31 09869638 2021-04-01 2022-03-31 09869638 2023-03-31 09869638 2022-03-31 09869638 c:Director1 2022-04-01 2023-03-31 09869638 d:Buildings 2022-04-01 2023-03-31 09869638 d:Buildings 2023-03-31 09869638 d:Buildings 2022-03-31 09869638 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09869638 d:FurnitureFittings 2022-04-01 2023-03-31 09869638 d:FurnitureFittings 2023-03-31 09869638 d:FurnitureFittings 2022-03-31 09869638 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09869638 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09869638 d:CurrentFinancialInstruments 2023-03-31 09869638 d:CurrentFinancialInstruments 2022-03-31 09869638 d:Non-currentFinancialInstruments 2023-03-31 09869638 d:Non-currentFinancialInstruments 2022-03-31 09869638 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09869638 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09869638 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09869638 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09869638 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09869638 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09869638 d:ShareCapital 2023-03-31 09869638 d:ShareCapital 2022-03-31 09869638 d:RetainedEarningsAccumulatedLosses 2023-03-31 09869638 d:RetainedEarningsAccumulatedLosses 2022-03-31 09869638 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09869638 c:OrdinaryShareClass1 2023-03-31 09869638 c:OrdinaryShareClass1 2022-03-31 09869638 c:OrdinaryShareClass2 2022-04-01 2023-03-31 09869638 c:OrdinaryShareClass2 2023-03-31 09869638 c:OrdinaryShareClass2 2022-03-31 09869638 c:FRS102 2022-04-01 2023-03-31 09869638 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09869638 c:FullAccounts 2022-04-01 2023-03-31 09869638 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09869638 2 2022-04-01 2023-03-31 09869638 6 2022-04-01 2023-03-31 09869638 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09869638 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09869638









TMP GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
TMP GROUP LIMITED
REGISTERED NUMBER: 09869638

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
721,976
730,553

Investments
 5 
1,100
1,100

  
723,076
731,653

Current assets
  

Debtors: amounts falling due within one year
 6 
547,051
507,098

Cash at bank and in hand
  
238,756
327,611

  
785,807
834,709

Creditors: amounts falling due within one year
 7 
(57,806)
(199,431)

Net current assets
  
 
 
728,001
 
 
635,278

Total assets less current liabilities
  
1,451,077
1,366,931

Creditors: amounts falling due after more than one year
 8 
(16,171)
(39,940)

Provisions for liabilities
  

Deferred tax
 10 
(8,703)
(6,337)

  
 
 
(8,703)
 
 
(6,337)

Net assets
  
1,426,203
1,320,654


Capital and reserves
  

Called up share capital 
 11 
1,101
1,101

Profit and loss account
  
1,425,102
1,319,553

  
1,426,203
1,320,654


Page 1

 
TMP GROUP LIMITED
REGISTERED NUMBER: 09869638
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 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 on 26 October 2023.




S D Richards
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 09869638.  The Company's registered office is Unit 2 Hawthorn Business Park, Puddlebrook, Drybrook, Gloucestershire, GL17 9HP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis.

 
2.3

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.

Page 3

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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:

Rental of property
Turnover from the rental of investment property is recognised when all the following conditions are satisfied:
• the amount of turnover can be measured reliably;
• it is probable that the company will receive consideration due for the period of rental;
• the period of rental can be measured reliably; 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

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
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:

Freehold property
-
4%
Fixtures and fittings
-
15%

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short term debtors are measured at transaction price, 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 5

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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.

Financial instruments are recognised in the Company's Balance Sheet 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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.
Page 6

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

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.

 
2.11

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.12

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.

Page 7

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Interest income

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

 
2.15

Borrowing costs

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

 
2.16

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 balance sheet 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 Balance Sheet.

 
2.17

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 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 8

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 3).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
789,364
47,645
837,009


Additions
-
25,411
25,411



At 31 March 2023

789,364
73,056
862,420



Depreciation


At 1 April 2022
106,457
-
106,457


Charge for the year on owned assets
26,174
7,813
33,987



At 31 March 2023

132,631
7,813
140,444



Net book value



At 31 March 2023
656,733
65,243
721,976



At 31 March 2022
682,908
47,645
730,553

Included within Freehold property is land with a value of £135,004 (2022 - £135,004) which is not depreciated.

Page 9

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
1,100



At 31 March 2023
1,100






Net book value



At 31 March 2023
1,100



At 31 March 2022
1,100

The investments in subsidiary companies relates to Total Metal Products Limited and TMP Manufacturing Limited, 100% wholly owned subsidiaries. The registered office of all subsidiaries is Unit 2 Hawthorn Business Park, Puddlebrook, Drybrook, England, GL17 9HP.


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
547,000
490,000

Other debtors
-
2,753

Called up share capital not paid
1
1

Prepayments and accrued income
50
14,344

547,051
507,098


Page 10

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
137,276

Trade creditors
-
45,739

Corporation tax
27,269
13,697

Other taxation and social security
5,620
-

Accruals and deferred income
24,917
2,719

57,806
199,431



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
27,791

Accruals and deferred income
16,171
12,149

16,171
39,940


The following liabilities were secured:

2023
2022
£
£



Bank Loan
-
164,467

-
164,467

Details of security provided:

Bank loans are secured by a debenture incorporating a fixed and floating charge over the property of the company, held by National Westminster Bank PLC. The bank loan was fully paid off as at 4 January 2023.

Page 11

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
137,276


-
137,276

Amounts falling due 1-2 years

Bank loans
-
27,791


-
27,791



-
165,067



10.


Deferred taxation




2023


£






At beginning of year
(6,337)


Charged to profit or loss
(2,366)



At end of year
(8,703)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(8,703)
(6,337)

(8,703)
(6,337)

Page 12

 
TMP GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



552 (2022 - 552) Ordinary shares of £1.00 each
552
552
549 (2022 - 549) Ordinary 'A' shares of £1.00 each
549
549

1,101

1,101



12.


Related party transactions

During the year rent was charged to subsidiary companies of £168,000 (2022 - £149,000).

 
Page 13