Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282Renting and leasing of other machinery, equipment and tangible goods no elsewhere classified.trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-01false2true 07515555 2022-03-01 2023-02-28 07515555 2023-02-28 07515555 2021-03-01 2022-02-28 07515555 2022-02-28 07515555 c:Director1 2022-03-01 2023-02-28 07515555 d:CurrentFinancialInstruments 2023-02-28 07515555 d:CurrentFinancialInstruments 2022-02-28 07515555 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07515555 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07515555 d:ShareCapital 2023-02-28 07515555 d:ShareCapital 2022-02-28 07515555 d:RetainedEarningsAccumulatedLosses 2023-02-28 07515555 d:RetainedEarningsAccumulatedLosses 2022-02-28 07515555 c:FRS102 2022-03-01 2023-02-28 07515555 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07515555 c:FullAccounts 2022-03-01 2023-02-28 07515555 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 07515555


TSTC LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
TSTC LTD
REGISTERED NUMBER: 07515555

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Restated 2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
150,928
270,649

Cash at bank and in hand
  
258,626
301,450

  
409,554
572,099

Creditors: amounts falling due within one year
 5 
(71,591)
(112,954)

Net current assets
  
 
 
337,963
 
 
459,145

Total assets less current liabilities
  
337,963
459,145

  

Net assets
  
337,963
459,145


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
336,963
458,145

  
337,963
459,145

Page 1

 
TSTC LTD
REGISTERED NUMBER: 07515555
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 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 28 November 2023.




P Hinckley
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
TSTC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

TSTC Ltd is a private limited company limited by share capital, incorporated in England and Wales. The company's registered number is 07515555. The company's registered office is Shepherd's keep, High Street, Adderbury, Banbury, England, OX17 3LU.

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

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.

 
2.4

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.

Page 3

 
TSTC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
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.

 
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

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.


3.


Employees

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

Page 4

 
TSTC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Debtors

2023
Restated 2022
£
£


Trade debtors
102,222
222,222

Other debtors
47,006
46,727

Prepayments and accrued income
1,700
1,700

150,928
270,649



5.


Creditors: Amounts falling due within one year

2023
Restated 2022
£
£

Bank loans
-
45,984

Trade creditors
36,604
100

Corporation tax
-
15,301

Other taxation and social security
15,395
35,403

Other creditors
11,869
11,243

Accruals and deferred income
7,723
4,923

71,591
112,954



6.


Prior year adjustment

During the year it was noted that prior year accruals had been overstated. Other debtors had also therefore been overstated at the balance sheet date. There is no change to the value of net assets or retained earnings.

 
Page 5