Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31true2022-06-01falseBuilding completion.76falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04437746 2022-06-01 2023-05-31 04437746 2021-06-01 2022-05-31 04437746 2023-05-31 04437746 2022-05-31 04437746 c:Director1 2022-06-01 2023-05-31 04437746 d:MotorVehicles 2022-06-01 2023-05-31 04437746 d:MotorVehicles 2023-05-31 04437746 d:MotorVehicles 2022-05-31 04437746 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 04437746 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 04437746 d:FurnitureFittings 2022-06-01 2023-05-31 04437746 d:FurnitureFittings 2023-05-31 04437746 d:FurnitureFittings 2022-05-31 04437746 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 04437746 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 04437746 d:OfficeEquipment 2022-06-01 2023-05-31 04437746 d:OfficeEquipment 2023-05-31 04437746 d:OfficeEquipment 2022-05-31 04437746 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 04437746 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 04437746 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 04437746 d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 04437746 d:CurrentFinancialInstruments 2023-05-31 04437746 d:CurrentFinancialInstruments 2022-05-31 04437746 d:Non-currentFinancialInstruments 2023-05-31 04437746 d:Non-currentFinancialInstruments 2022-05-31 04437746 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04437746 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 04437746 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 04437746 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 04437746 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 04437746 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 04437746 d:ShareCapital 2023-05-31 04437746 d:ShareCapital 2022-05-31 04437746 d:RetainedEarningsAccumulatedLosses 2023-05-31 04437746 d:RetainedEarningsAccumulatedLosses 2022-05-31 04437746 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 04437746 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-05-31 04437746 c:FRS102 2022-06-01 2023-05-31 04437746 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 04437746 c:FullAccounts 2022-06-01 2023-05-31 04437746 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04437746 2 2022-06-01 2023-05-31 04437746 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 04437746 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-31 04437746 d:LeasedAssetsHeldAsLessee 2023-05-31 04437746 d:LeasedAssetsHeldAsLessee 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 04437746









TECTUM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
TECTUM LIMITED
REGISTERED NUMBER: 04437746

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
92,108
129,400

  
92,108
129,400

Current assets
  

Stocks
  
15,000
15,000

Debtors: amounts falling due within one year
 5 
120,049
186,591

Cash at bank and in hand
 6 
249,481
260,347

  
384,530
461,938

Creditors: amounts falling due within one year
 7 
(272,988)
(430,329)

Net current assets
  
 
 
111,542
 
 
31,609

Total assets less current liabilities
  
203,650
161,009

Creditors: amounts falling due after more than one year
 8 
(39,666)
(71,739)

Provisions for liabilities
  

Deferred tax
  
(22,000)
(22,000)

  
 
 
(22,000)
 
 
(22,000)

Net assets
  
141,984
67,270


Capital and reserves
  

Called up share capital 
  
41,000
41,000

Profit and loss account
  
100,984
26,270

  
141,984
67,270


Page 1

 
TECTUM LIMITED
REGISTERED NUMBER: 04437746
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 13 February 2024.




C G Turner
Director

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

Page 2

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Tectum Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company is building completion.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

Page 4

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

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:

Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line
Office equipment
-
25%
straight line

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 6

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the
Page 7

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

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 7 (2022 - 6).

Page 8

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
285,357
41,355
19,450
346,162


Additions
45,450
1,000
4,128
50,578


Disposals
(53,495)
-
-
(53,495)



At 31 May 2023

277,312
42,355
23,578
343,245



Depreciation


At 1 June 2022
161,474
39,120
16,168
216,762


Charge for the year on owned assets
6,313
1,347
2,411
10,071


Charge for the year on financed assets
24,304
-
-
24,304



At 31 May 2023

192,091
40,467
18,579
251,137



Net book value



At 31 May 2023
85,221
1,888
4,999
92,108



At 31 May 2022
123,883
2,235
3,282
129,400

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
72,911
105,259

72,911
105,259


5.


Debtors

2023
2022
£
£


Trade debtors
92,016
166,336

Other debtors
28,033
20,255
Page 9

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.Debtors (continued)


120,049
186,591



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
249,480
260,347

249,480
260,347



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
35,685
96,602

Corporation tax
52,979
30,518

Other taxation and social security
65,207
70,067

Obligations under finance lease and hire purchase contracts
26,937
27,081

Other creditors
69,988
183,869

Accruals and deferred income
12,192
12,192

272,988
430,329



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,833
30,833

Net obligations under finance leases and hire purchase contracts
18,833
40,906

39,666
71,739


Page 10

 
TECTUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
20,833
30,833


20,833
30,833


30,833
40,833



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
249,480
260,347




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


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,052 (2022: £27,411).

 
Page 11