Caseware UK (AP4) 2022.0.179 2022.0.179 false2022-05-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09515091 2022-05-01 2023-04-30 09515091 2021-05-01 2022-04-30 09515091 2023-04-30 09515091 2022-04-30 09515091 2021-05-01 09515091 1 2022-05-01 2023-04-30 09515091 1 2021-05-01 2022-04-30 09515091 3 2021-05-01 2022-04-30 09515091 6 2022-05-01 2023-04-30 09515091 6 2021-05-01 2022-04-30 09515091 d:Director1 2022-05-01 2023-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2022-05-01 2023-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2023-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2022-04-30 09515091 e:CurrentFinancialInstruments 2023-04-30 09515091 e:CurrentFinancialInstruments 2022-04-30 09515091 e:Non-currentFinancialInstruments 2023-04-30 09515091 e:Non-currentFinancialInstruments 2022-04-30 09515091 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-30 09515091 e:CurrentFinancialInstruments e:WithinOneYear 2022-04-30 09515091 e:Non-currentFinancialInstruments e:AfterOneYear 2023-04-30 09515091 e:Non-currentFinancialInstruments e:AfterOneYear 2022-04-30 09515091 e:ShareCapital 2022-05-01 2023-04-30 09515091 e:ShareCapital 2023-04-30 09515091 e:ShareCapital 2021-05-01 2022-04-30 09515091 e:ShareCapital 2022-04-30 09515091 e:ShareCapital 2021-05-01 09515091 e:CapitalRedemptionReserve 2022-05-01 2023-04-30 09515091 e:CapitalRedemptionReserve 2023-04-30 09515091 e:CapitalRedemptionReserve 1 2022-05-01 2023-04-30 09515091 e:CapitalRedemptionReserve 2021-05-01 2022-04-30 09515091 e:CapitalRedemptionReserve 2022-04-30 09515091 e:CapitalRedemptionReserve 2021-05-01 09515091 e:CapitalRedemptionReserve 3 2021-05-01 2022-04-30 09515091 e:RevaluationReserve 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 2023-04-30 09515091 e:RevaluationReserve 1 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 6 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 2021-05-01 2022-04-30 09515091 e:RevaluationReserve 2022-04-30 09515091 e:RevaluationReserve 2021-05-01 09515091 e:RevaluationReserve 1 2021-05-01 2022-04-30 09515091 e:RevaluationReserve 3 2021-05-01 2022-04-30 09515091 e:RevaluationReserve 6 2021-05-01 2022-04-30 09515091 e:RevaluationReserve 8 2021-05-01 2022-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 1 2022-05-01 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2022-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2021-05-01 09515091 e:RetainedEarningsAccumulatedLosses 1 2021-05-01 2022-04-30 09515091 e:RetainedEarningsAccumulatedLosses 3 2021-05-01 2022-04-30 09515091 d:FRS102 2022-05-01 2023-04-30 09515091 d:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 09515091 d:FullAccounts 2022-05-01 2023-04-30 09515091 d:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 09515091 2 2022-05-01 2023-04-30 09515091 5 2022-05-01 2023-04-30 09515091 6 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 09515091










Tribeca Technology Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2023


 


 
Tribeca Technology Group Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Tribeca Technology Group Limited for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tribeca Technology Group Limited for the year ended 30 April 2023 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Tribeca Technology Group Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tribeca Technology Group Limited  and state those matters that we have agreed to state to the director of Tribeca Technology Group Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tribeca Technology Group Limited and its director for our work or for this report. 

It is your duty to ensure that Tribeca Technology Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tribeca Technology Group Limited. You consider that Tribeca Technology Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tribeca Technology Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
27 September 2023
Page 1

 
Tribeca Technology Group Limited
Registered number: 09515091

Balance Sheet
As at 30 April 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,263,269
1,264,578

Investments
 5 
906
1,803

  
1,264,175
1,266,381

Current assets
  

Debtors: amounts falling due within one year
 6 
68,061
68,069

Cash at bank and in hand
  
1,108,175
611,199

  
1,176,236
679,268

Creditors: amounts falling due within one year
 7 
(92,512)
(87,725)

Net current assets
  
 
 
1,083,724
 
 
591,543

Total assets less current liabilities
  
2,347,899
1,857,924

Creditors: amounts falling due after more than one year
 8 
(590,538)
(658,215)

Provisions for liabilities
  

Deferred tax
  
(128,646)
(128,973)

  
 
 
(128,646)
 
 
(128,973)

Net assets
  
1,628,715
1,070,736

Page 2

 
Tribeca Technology Group Limited
Registered number: 09515091

Balance Sheet (continued)
As at 30 April 2023

As restated
2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
75
75

Revaluation reserve
 9 
390,815
391,027

Capital redemption reserve
 9 
20
20

Profit and loss account
 9 
1,237,805
679,614

  
1,628,715
1,070,736


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 27 September 2023.




M J Instance
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
Tribeca Technology Group Limited
 

Statement of Changes in Equity
For the Year Ended 30 April 2023


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 May 2021
95
-
-
1,328,054
1,328,149


Comprehensive income for the year

Profit for the year
-
-
-
506,201
506,201

Surplus on revaluation of leasehold property
-
-
391,386
-
391,386

Depreciation of revaluation of leasehold property
-
-
(359)
359
-
Total comprehensive income for the year
-
-
391,027
506,560
897,587

Dividends: Equity capital
-
-
-
(255,000)
(255,000)

Buyback of own shares
(20)
20
-
(900,000)
(900,000)


Total transactions with owners
(20)
20
-
(1,155,000)
(1,155,000)



At 1 May 2022 (as restated)
75
20
391,027
679,614
1,070,736


Comprehensive income for the year

Profit for the year

-
-
-
817,066
817,066

Deferred tax on movement of revaluation of leasehold property
-
-
327
-
327

Depreciation of revaluation of leasehold property
-
-
(539)
539
-
Total comprehensive income for the year
-
-
(212)
817,605
817,393

Dividends: Equity capital
-
-
-
(259,414)
(259,414)


Total transactions with owners
-
-
-
(259,414)
(259,414)


At 30 April 2023
75
20
390,815
1,237,805
1,628,715


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

1.


General information

Tribeca Technology Group Limited is a private company limited by shares and is incorporated in England with the registration number 09515091. The address of the registered office is Hengist House, Pond Farm Road, Oad Street, Sittingbourne, Kent, ME9 8LT. 

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 5

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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:

Long-term leasehold property
-
over the life of the lease

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 6

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
Page 7

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

 
2.16

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 1 (2022 - 1).

Page 8

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


At 1 May 2022
1,265,450



At 30 April 2023

1,265,450



Depreciation


At 1 May 2022
872


Charge for the year on owned assets
1,309



At 30 April 2023

2,181



Net book value



At 30 April 2023
1,263,269



At 30 April 2022
1,264,578

Cost or valuation at 30 April 2023 is as follows:

Land and buildings
£


At cost
748,685
At valuation:

Per independent valuation in August 2021
516,765



1,265,450

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
748,685
748,685

Accumulated depreciation
(4,877)
(4,107)

Net book value
743,808
744,578

Page 9

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 May 2022
1,802
1
1,803


Disposals
(897)
-
(897)



At 30 April 2023
905
1
906





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
67,500
67,500

Prepayments and accrued income
561
569

68,061
68,069



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
69,567
67,651

Amounts owed to group undertakings
810
1,707

Corporation tax
14,721
11,193

Other taxation and social security
5,400
5,400

Accruals and deferred income
2,014
1,774

92,512
87,725



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
590,538
658,215


Page 10

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2023

9.


Reserves

Revaluation reserve

The revaluation reserve represents revaluations of long term leasehold property, less the associated deferred tax adjustments in accordance with FRS102(1a).

Capital redemption reserve

Capital redemption reserve represents the nominal value of shares for share capital repurchased by the company. 

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments. 


10.


Prior year adjustment

The accounts comparatives for the year ended 30 April 2022 have been restated to incorporate the impact of a misclassification of the share buyback consideration paid in excess of the £20 nominal value for the 20 B ordinary shares. The change results in profit after tax available for distribution at 30 April 2022 decreasing by £900,000. 


11.


Related party transactions

During the year the company paid dividends to the directors who were also shareholders in the company totalling £259,414 (2022: £255,000).  All other transactions with related parties that arose during the current and prior years were done so under normal market conditions.


Page 11