Caseware UK (AP4) 2022.0.179 2022.0.179 true32022-01-01falseNo description of principal activity3false 13144286 2022-01-01 2022-12-31 13144286 2021-02-01 2021-12-31 13144286 2022-12-31 13144286 2021-12-31 13144286 c:Director3 2022-01-01 2022-12-31 13144286 d:FinancialAssetsHeldForTrading d:Non-currentFinancialInstruments 2022-12-31 13144286 d:CurrentFinancialInstruments 2022-12-31 13144286 d:CurrentFinancialInstruments 2021-12-31 13144286 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13144286 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13144286 d:ShareCapital 2022-12-31 13144286 d:ShareCapital 2021-02-01 2021-12-31 13144286 d:ShareCapital 2021-12-31 13144286 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 13144286 d:RetainedEarningsAccumulatedLosses 2022-12-31 13144286 d:RetainedEarningsAccumulatedLosses 2021-02-01 2021-12-31 13144286 d:RetainedEarningsAccumulatedLosses 2021-12-31 13144286 c:OrdinaryShareClass1 2022-01-01 2022-12-31 13144286 c:OrdinaryShareClass1 2022-12-31 13144286 c:OrdinaryShareClass1 2021-12-31 13144286 c:FRS102 2022-01-01 2022-12-31 13144286 c:Audited 2022-01-01 2022-12-31 13144286 c:FullAccounts 2022-01-01 2022-12-31 13144286 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13144286 d:Subsidiary1 2022-01-01 2022-12-31 13144286 d:Subsidiary1 1 2022-01-01 2022-12-31 13144286 d:Subsidiary2 2022-01-01 2022-12-31 13144286 d:Subsidiary2 1 2022-01-01 2022-12-31 13144286 d:Subsidiary3 2022-01-01 2022-12-31 13144286 d:Subsidiary3 1 2022-01-01 2022-12-31 13144286 d:Subsidiary4 2022-01-01 2022-12-31 13144286 d:Subsidiary4 1 2022-01-01 2022-12-31 13144286 d:Subsidiary5 2022-01-01 2022-12-31 13144286 d:Subsidiary5 1 2022-01-01 2022-12-31 13144286 d:Subsidiary6 2022-01-01 2022-12-31 13144286 d:Subsidiary6 1 2022-01-01 2022-12-31 13144286 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 13144286 2 2022-01-01 2022-12-31 13144286 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13144286










TSP Assetco Limited










Financial statements

Information for filing with the registrar

For the year ended 31 December 2022

 
TSP Assetco Limited
Registered number: 13144286

Balance sheet
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
15,839,502
15,839,502

  
15,839,502
15,839,502

Current assets
  

Debtors: amounts falling due within one year
 5 
7,015,040
2,613,437

Cash at bank and in hand
  
8,038
4,205,203

  
7,023,078
6,818,640

Creditors: amounts falling due within one year
 6 
(6,877,834)
(6,791,532)

Net current assets
  
 
 
145,244
 
 
27,108

Total assets less current liabilities
  
15,984,746
15,866,610

  

Net assets
  
15,984,746
15,866,610


Capital and reserves
  

Called up share capital 
  
15,839,600
15,839,600

Profit and loss account
  
145,146
27,010

  
15,984,746
15,866,610


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 10 November 2023.




J Jennissen
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
TSP Assetco Limited
 

Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
27,010
27,010

Shares issued during the period
15,839,600
-
15,839,600



At 1 January 2022
15,839,600
27,010
15,866,610



Profit for the year
-
118,136
118,136


At 31 December 2022
15,839,600
145,146
15,984,746


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

TSP Assetco Limited is a private company limited by shares and is incorporated in England with the registration number 13144286.  The address of the registered office is N+P Group First Floor, 4-8 Ludgate Circus, London, EC4M 7LF.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements have been rounded to the nearest Pound.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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'.

 
2.4

Interest income

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

Page 3

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

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.

 
2.10

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

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

Page 4

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Directors
3
3

Page 5

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
15,839,502



At 31 December 2022
15,839,502





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

N&P TSP Holdings Ltd
Ordinary
100%
Subcoal Production TSP Ltd*
Ordinary
100%
North Tees Property Ltd*
Ordinary
100%
N&P UK Production Holding Ltd*
Ordinary
100%
N&P Crayford Holding Ltd
Ordinary
100%
N&P Crayford MRF Ltd*
Ordinary
100%

*indirect subsidiary undertaking
All subsidiary undertakings have registered office N+P Group First Floor, 4-8 Ludgate Circus, London, EC4M 7LF.

Page 6

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
6,838,480
2,584,877

Other debtors
31,653
28,560

Prepayments and accrued income
144,907
-

7,015,040
2,613,437



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
180
160,944

Amounts owed to group undertakings
6,873,279
6,628,288

Accruals and deferred income
4,375
2,300

6,877,834
6,791,532



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



15,839,600 (2021 - 15,839,600) Ordinary shares of £1.00 each
15,839,600
15,839,600


Page 7

 
TSP Assetco Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

8.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group.
All other related party transactions during the current and prior period including key management personnel compensation, were made under normal market conditions.


9.


Controlling party

The company is a wholly owned subsidiary of N&P Production Holding BV, a company incorporated in The Netherlands.
The directors regards N&P Beheer BV, a company incorporated in The Netherlands, to be the company's ultimate parent undertaking. N&P Beheer BV is the smallest and largest group for which consolidated financial statements are prepared. Copies of the consolidated financial statements are publicly available from the company's registered office at Berkstraat 28, 5854GW Bergen, The Netherlands.
In the opinion of the directors there is no controlling party.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 10 November 2023 by Mark Attwood FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 8