Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01true22truetrue 10598450 2023-01-01 2023-12-31 10598450 2022-01-01 2022-12-31 10598450 2023-12-31 10598450 2022-12-31 10598450 c:Director1 2023-01-01 2023-12-31 10598450 d:ComputerEquipment 2023-01-01 2023-12-31 10598450 d:ComputerEquipment 2023-12-31 10598450 d:ComputerEquipment 2022-12-31 10598450 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10598450 d:CurrentFinancialInstruments 2023-12-31 10598450 d:CurrentFinancialInstruments 2022-12-31 10598450 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10598450 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10598450 d:ShareCapital 2023-12-31 10598450 d:ShareCapital 2022-12-31 10598450 d:OtherMiscellaneousReserve 2023-12-31 10598450 d:OtherMiscellaneousReserve 2022-12-31 10598450 d:RetainedEarningsAccumulatedLosses 2023-12-31 10598450 d:RetainedEarningsAccumulatedLosses 2022-12-31 10598450 c:EntityHasNeverTraded 2023-01-01 2023-12-31 10598450 c:FRS102 2023-01-01 2023-12-31 10598450 c:Audited 2023-01-01 2023-12-31 10598450 c:FullAccounts 2023-01-01 2023-12-31 10598450 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10598450 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10598450 6 2023-01-01 2023-12-31 10598450 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10598450










TASC TOWERS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TASC TOWERS LIMITED
REGISTERED NUMBER:10598450

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Unaudited 2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
519

Investments
 5 
198,747
198,747

  
198,747
199,266

Current assets
  

Debtors: amounts falling due within one year
 6 
184
755

Cash at bank and in hand
  
11,849
68,641

  
12,033
69,396

Creditors: amounts falling due within one year
 7 
(54,474)
(525,085)

Net current liabilities
  
 
 
(42,441)
 
 
(455,689)

Total assets less current liabilities
  
156,306
(256,423)

  

Net assets/(liabilities)
  
156,306
(256,423)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
236,500
236,500

Profit and loss account
  
(80,294)
(493,023)

  
156,306
(256,423)


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 profit and loss account 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 by: 




I Mazhar
Director
Date: 25 February 2024

Page 1

 
TASC TOWERS LIMITED
REGISTERED NUMBER:10598450
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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

Page 2

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

TASC Towers Limited is a private company limited by shares and incorporated in England and Wales.The registered office address is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

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.

 
2.3

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.

Page 3

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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

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:

Computer equipment
-
33%

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.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

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

 
2.8

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.

 
2.9

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 4

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

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.

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

Page 5

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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


3.


Employees



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


4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
1,935



At 31 December 2023

1,935



Depreciation


At 1 January 2023
1,416


Charge for the year on owned assets
519



At 31 December 2023

1,935



Net book value



At 31 December 2023
-



At 31 December 2022
519

Page 6

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 January 2023
198,747



At 31 December 2023
198,747





6.


Debtors

2023
Unaudited 2022
£
£


Tax recoverable
184
755

184
755



7.


Creditors: Amounts falling due within one year

2023
Unaudited 2022
£
£

Amounts owed to group undertakings
41,649
-

Other taxation and social security
-
10,455

Other creditors
5,250
5,250

Accruals and deferred income
7,575
509,380

54,474
525,085



8.


Related party transactions

At the balance sheet date, the company owed £5,250 (2022 - £5,250) to the directors.This amount, included in other creditors, is interest free and repayable on demand.

Page 7

 
TASC TOWERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 27 February 2024 by Daryush Farshchi-Heidari (FCA) (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 8