Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true2022-08-01falseHolding company22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08739141 2022-08-01 2023-07-31 08739141 2021-08-01 2022-07-31 08739141 2023-07-31 08739141 2022-07-31 08739141 2021-08-01 08739141 c:Director1 2022-08-01 2023-07-31 08739141 c:Director2 2022-08-01 2023-07-31 08739141 d:FurnitureFittings 2022-08-01 2023-07-31 08739141 d:FurnitureFittings 2023-07-31 08739141 d:FurnitureFittings 2022-07-31 08739141 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08739141 d:FreeholdInvestmentProperty 2022-08-01 2023-07-31 08739141 d:FreeholdInvestmentProperty 2023-07-31 08739141 d:FreeholdInvestmentProperty 2022-07-31 08739141 d:FreeholdInvestmentProperty 2 2022-08-01 2023-07-31 08739141 d:CurrentFinancialInstruments 2023-07-31 08739141 d:CurrentFinancialInstruments 2022-07-31 08739141 d:Non-currentFinancialInstruments 2023-07-31 08739141 d:Non-currentFinancialInstruments 2022-07-31 08739141 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08739141 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08739141 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08739141 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 08739141 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 08739141 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 08739141 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 08739141 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 08739141 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 08739141 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-07-31 08739141 d:ShareCapital 2023-07-31 08739141 d:ShareCapital 2022-07-31 08739141 d:OtherMiscellaneousReserve 2022-08-01 2023-07-31 08739141 d:OtherMiscellaneousReserve 2023-07-31 08739141 d:OtherMiscellaneousReserve 2022-07-31 08739141 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 08739141 d:RetainedEarningsAccumulatedLosses 2023-07-31 08739141 d:RetainedEarningsAccumulatedLosses 2022-07-31 08739141 c:OrdinaryShareClass1 2022-08-01 2023-07-31 08739141 c:OrdinaryShareClass1 2023-07-31 08739141 c:OrdinaryShareClass1 2022-07-31 08739141 c:OrdinaryShareClass2 2022-08-01 2023-07-31 08739141 c:OrdinaryShareClass2 2023-07-31 08739141 c:OrdinaryShareClass2 2022-07-31 08739141 c:FRS102 2022-08-01 2023-07-31 08739141 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08739141 c:FullAccounts 2022-08-01 2023-07-31 08739141 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08739141 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08739141 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 08739141 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 08739141 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 08739141 6 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08739141









TRASAM HOLDINGS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
TRASAM HOLDINGS LIMITED
REGISTERED NUMBER: 08739141

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
117
138

Investments
 6 
150
150

Investment property
 5 
1,307,710
1,272,994

  
1,307,977
1,273,282

Current assets
  

Stocks
 7 
43,500
37,500

Debtors: amounts falling due within one year
 8 
78,208
47,495

Cash at bank and in hand
 9 
1,380
535

  
123,088
85,530

Creditors: amounts falling due within one year
 10 
(293,768)
(176,328)

Net current liabilities
  
 
 
(170,680)
 
 
(90,798)

Total assets less current liabilities
  
1,137,297
1,182,484

Creditors: amounts falling due after more than one year
 11 
(313,141)
(328,460)

Provisions for liabilities
  

Deferred tax
 13 
(84,791)
(63,422)

Net assets
  
739,365
790,602


Capital and reserves
  

Called up share capital 
 14 
100
100

Other reserves
 15 
329,465
338,662

Profit and loss account
 15 
409,800
451,840

  
739,365
790,602


Page 1

 
TRASAM HOLDINGS LIMITED
REGISTERED NUMBER: 08739141
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 on 1 December 2023.





M D Robinson
P Tubby
Director
Director

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

Page 2

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Trasam Holdings Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal place of business is Sureland House, 1 Journeymans Way, Southend-on-Sea, SS2 5TF. The company's principal activity is that of  a holding company of a trading subsidiary and holder of investment properties for  rental.

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

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.

 
2.4

Borrowing costs

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

Page 3

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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
-
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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors 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 the Statement of comprehensive income. 

Page 4

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.10

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.  

 
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 recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Page 5

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
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 2 (2022 -2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 August 2022
368



At 31 July 2023

368



Depreciation


At 1 August 2022
230


Charge for the year on owned assets
21



At 31 July 2023

251



Net book value



At 31 July 2023
117



At 31 July 2022
138

Page 6

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Investment property


Freehold investment properties

£



Valuation


At 1 August 2022
1,272,994


Additions at cost
22,490


Surplus on revaluation
12,226



At 31 July 2023
1,307,710

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





6.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost 


At 1 August 2022
100
50
150



At 31 July 2023
100
50
150





7.


Stocks

2023
2022
£
£

Finished goods and goods for resale
43,500
37,500


Page 7

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Debtors

2023
2022
£
£


Amounts owed by associated undertakings
68,188
38,285

Other debtors
6,908
6,908

Prepayments and accrued income
3,112
2,302

78,208
47,495



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,380
535



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
20,108
26,261

Amounts owed to group undertakings
251,053
136,213

Corporation tax
7,404
9,229

Other taxation and social security
10,507
1,279

Accruals and deferred income
4,696
3,346

293,768
176,328


Page 8

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
313,141
328,460


The following liabilities were secured:

2023
2022
£
£



Bank loans
321,915
339,986

Details of security provided:

The bank facility is secured by:
Debenture dated 18 February 2014 over all assets of the company;
Legal charges dated 18 February 2014 and 29 July 2016 over the investment properties held by Trasam Holdings Limited; and
Unlimited inter-company guarantee between the company and Auto Accident Claims Ltd. in favour of Barclays Bank Plc.


12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
20,108
26,261

Amounts falling due 1-2 years

Bank loans
24,643
34,197

Amounts falling due 2-5 years

Bank loans
50,127
68,585

Amounts falling due after more than 5 years

Bank loans
238,371
225,678

333,249
354,721


Page 9

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

13.


Deferred taxation




2023
2022


£

£






At beginning of year
(63,422)
(63,427)


(Charged)/released to profit or loss
(21,369)
5



At end of year
(84,791)
(63,422)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(54)

Investment property revaluation
(84,791)
(63,368)


14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 -50) Ordinary A shares of £1.00 each
50
50
50 (2022 -50) Ordinary B shares of £1.00 each
50
50

100

100


All shares rank equally, except Ordinary A and Ordinary B shares have independent dividends rights.



15.


Reserves

Non distributable reserves

Non-distributable reserves relating to the unrealised gain or loss on the fair value adjustment of investment properties. Deferred tax has been provided on the revaluation of investment properties.

Profit and loss account

Includes all current and prior period retained profits and losses.

Page 10

 
TRASAM HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

16.


Related party transactions

As Trasam Holdings Limited is the 100% owner of the share capital in it's subsidiary company, Auto Accident Claims Ltd, it has availed itself of the exemption under FRS102 paragraph 33.1A from disclosing transactions with group companies. 
Amounts owed from Thirty Five Park Place Limited, a company in which Mr M D Robinson is a director and Trasam Holdings Limited owns 50% of its share capital, was £68,188 (
2022 - £38,285) as at 31 July 2023.

 
Page 11