Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseOther letting and operating of own or leased real estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03071804 2022-04-01 2023-03-31 03071804 2021-04-01 2022-03-31 03071804 2023-03-31 03071804 2022-03-31 03071804 c:Director1 2022-04-01 2023-03-31 03071804 d:FurnitureFittings 2022-04-01 2023-03-31 03071804 d:FurnitureFittings 2023-03-31 03071804 d:FurnitureFittings 2022-03-31 03071804 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03071804 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 03071804 d:FreeholdInvestmentProperty 2023-03-31 03071804 d:FreeholdInvestmentProperty 2022-03-31 03071804 d:CurrentFinancialInstruments 2023-03-31 03071804 d:CurrentFinancialInstruments 2022-03-31 03071804 d:Non-currentFinancialInstruments 2023-03-31 03071804 d:Non-currentFinancialInstruments 2022-03-31 03071804 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03071804 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03071804 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03071804 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03071804 d:ShareCapital 2023-03-31 03071804 d:ShareCapital 2022-03-31 03071804 d:RetainedEarningsAccumulatedLosses 2023-03-31 03071804 d:RetainedEarningsAccumulatedLosses 2022-03-31 03071804 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 03071804 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 03071804 c:FRS102 2022-04-01 2023-03-31 03071804 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03071804 c:FullAccounts 2022-04-01 2023-03-31 03071804 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03071804 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03071804 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 03071804 2 2022-04-01 2023-03-31 03071804 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03071804









TRANS-EXECUTIVE INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
REGISTERED NUMBER: 03071804

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
584
553

Investments
 5 
1,305,976
1,396,492

Investment property
 6 
6,247,640
5,137,717

  
7,554,200
6,534,762

Current assets
  

Debtors: amounts falling due within one year
 7 
17,985
1,516,116

Current asset investments
 8 
51,650
51,650

Cash at bank and in hand
 9 
276,172
36,575

  
345,807
1,604,341

Creditors: amounts falling due within one year
 10 
(2,173,004)
(3,493,914)

Net current liabilities
  
 
 
(1,827,197)
 
 
(1,889,573)

Total assets less current liabilities
  
5,727,003
4,645,189

Creditors: amounts falling due after more than one year
 11 
(1,928,682)
(1,203,017)

Provisions for liabilities
  

Deferred tax
 13 
(53,662)
(53,662)

  
 
 
(53,662)
 
 
(53,662)

Net assets
  
3,744,659
3,388,510


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
3,744,459
3,388,310

  
3,744,659
3,388,510


Page 1

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
REGISTERED NUMBER: 03071804
    
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 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: 




S Houri
Director

Date: 19 October 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Trans-Executive Investments Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company was that of property investment.

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

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

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

 
2.7

Borrowing costs

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

Page 4

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

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.

Page 5

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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 6

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.17

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.

 
2.18

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
736


Additions
225



At 31 March 2023

961



Depreciation


At 1 April 2022
183


Charge for the year on owned assets
194



At 31 March 2023

377



Net book value



At 31 March 2023
584



At 31 March 2022
553


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Other fixed asset investments
Trade investments
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
100
6
157,505
1,238,881
1,396,492


Additions
-
-
-
272,346
272,346


Disposals
-
-
-
(362,856)
(362,856)


Amounts written off
-
(6)
-
-
(6)



At 31 March 2023
100
-
157,505
1,148,371
1,305,976




Page 8

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
5,137,717


Additions at cost
1,109,923



At 31 March 2023
6,247,640

The 2023 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2023
2022
£
£


Trade debtors
2,417
2,417

Other debtors
12,921
1,511,074

Prepayments and accrued income
2,647
2,625

17,985
1,516,116



8.


Current asset investments

2023
2022
£
£

Unlisted investments
51,650
51,650

51,650
51,650



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
276,172
36,574

276,172
36,574


Page 9

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
330
7,500

Other creditors
2,121,731
3,442,860

Accruals and deferred income
50,943
43,554

2,173,004
3,493,914



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,523,000
315,738

Other loans
405,682
887,279

1,928,682
1,203,017



12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
276,172
36,574




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Deferred taxation




2023


£






At beginning of year
(53,662)



At end of year
(53,662)

Page 10

 
TRANS-EXECUTIVE INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
13.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


On revaluation of investment properties
(53,662)
(53,662)

(53,662)
(53,662)


14.


Related party transactions

During the year the company paid management fees totalling £21,735 (2022: £1,000) to companies under common directorship. At the balance sheet date the company owed £1,833,299 (2022: £1,946,211) to these companies.
At the balance sheet date the company also owed £288,431 (2022: £nil) to companies under common control.
All the above transactions were conducted on an arm's length basis on normal trading terms.

 
Page 11