Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity6963truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC452105 2022-08-01 2023-07-31 SC452105 2021-08-01 2022-07-31 SC452105 2023-07-31 SC452105 2022-07-31 SC452105 c:Director1 2022-08-01 2023-07-31 SC452105 c:Director2 2022-08-01 2023-07-31 SC452105 c:Director4 2022-08-01 2023-07-31 SC452105 c:Director5 2022-08-01 2023-07-31 SC452105 c:Director6 2022-08-01 2023-07-31 SC452105 c:RegisteredOffice 2022-08-01 2023-07-31 SC452105 d:MotorVehicles 2022-08-01 2023-07-31 SC452105 d:MotorVehicles 2023-07-31 SC452105 d:MotorVehicles 2022-07-31 SC452105 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC452105 d:OfficeEquipment 2022-08-01 2023-07-31 SC452105 d:OfficeEquipment 2023-07-31 SC452105 d:OfficeEquipment 2022-07-31 SC452105 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC452105 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 SC452105 d:OtherPropertyPlantEquipment 2023-07-31 SC452105 d:OtherPropertyPlantEquipment 2022-07-31 SC452105 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC452105 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC452105 d:Goodwill 2022-08-01 2023-07-31 SC452105 d:Goodwill 2023-07-31 SC452105 d:Goodwill 2022-07-31 SC452105 d:CurrentFinancialInstruments 2023-07-31 SC452105 d:CurrentFinancialInstruments 2022-07-31 SC452105 d:Non-currentFinancialInstruments 2023-07-31 SC452105 d:Non-currentFinancialInstruments 2022-07-31 SC452105 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 SC452105 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 SC452105 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 SC452105 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 SC452105 d:ShareCapital 2023-07-31 SC452105 d:ShareCapital 2022-07-31 SC452105 d:SharePremium 2023-07-31 SC452105 d:SharePremium 2022-07-31 SC452105 d:OtherMiscellaneousReserve 2023-07-31 SC452105 d:OtherMiscellaneousReserve 2022-07-31 SC452105 d:RetainedEarningsAccumulatedLosses 2023-07-31 SC452105 d:RetainedEarningsAccumulatedLosses 2022-07-31 SC452105 c:OrdinaryShareClass1 2022-08-01 2023-07-31 SC452105 c:OrdinaryShareClass1 2023-07-31 SC452105 c:OrdinaryShareClass2 2022-08-01 2023-07-31 SC452105 c:OrdinaryShareClass2 2023-07-31 SC452105 c:OrdinaryShareClass3 2022-08-01 2023-07-31 SC452105 c:OrdinaryShareClass3 2023-07-31 SC452105 c:OrdinaryShareClass4 2022-08-01 2023-07-31 SC452105 c:OrdinaryShareClass4 2023-07-31 SC452105 c:OrdinaryShareClass5 2022-08-01 2023-07-31 SC452105 c:OrdinaryShareClass5 2023-07-31 SC452105 c:FRS102 2022-08-01 2023-07-31 SC452105 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC452105 c:FullAccounts 2022-08-01 2023-07-31 SC452105 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC452105 6 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC452105










TVG (ANGUS) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 
TVG (ANGUS) LIMITED
 

COMPANY INFORMATION


Directors
Mr G Richardson 
Mr G Durston 
Mr C Aitken 
Mr E Hill 
Mr A Hussey 




Registered number
SC452105



Registered office
20 Forfar Road

Kirriemuir

Angus

DD8 5BY




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
TVG (ANGUS) LIMITED
REGISTERED NUMBER: SC452105

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 5 
638,848
562,548

Investments
 6 
10,000
10,000

  
648,848
572,548

Current assets
  

Stocks
  
200,464
210,094

Debtors: amounts falling due within one year
 7 
436,559
434,248

Bank and cash balances
  
424,444
463,428

  
1,061,467
1,107,770

Creditors: amounts falling due within one year
 8 
(736,493)
(698,492)

Net current assets
  
 
 
324,974
 
 
409,278

Total assets less current liabilities
  
973,822
981,826

Creditors: amounts falling due after more than one year
 9 
(90,856)
(141,982)

Provisions for liabilities
  

Deferred tax
  
(112,685)
(92,733)

  
 
 
(112,685)
 
 
(92,733)

Net assets
  
770,281
747,111


Capital and reserves
  

Called up share capital 
 10 
10
10

Share premium account
  
99,998
99,998

Other reserves
  
2
2

Profit and loss account
  
670,271
647,101

  
770,281
747,111


Page 1

 
TVG (ANGUS) LIMITED
REGISTERED NUMBER: SC452105

STATEMENT OF FINANCIAL POSITION (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 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 27 February 2024.




Mr G Richardson
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

TVG (Angus) Limited is a private company, limited by shares, domiciled in Scotland with registration number SC452105. The registered office is 20 Forfar Road, Kirriemuir, Angus, DD8 5BY.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill
-
20%
straight line

 
2.4

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 the following bases:.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Office equipment
-
15%
reducing balance
Tenants' improvements
-
10%
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.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 4

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.7

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 Statement of financial position 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.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.



Page 5

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 69 (2022 - 63).

Page 6

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
1,631,000



At 31 July 2023

1,631,000



Amortisation


At 1 August 2022
1,631,000



At 31 July 2023

1,631,000



Net book value



At 31 July 2023
-



At 31 July 2022
-




5.


Tangible fixed assets





Motor vehicles
Office equipment
Tenants' improvements
Total

£
£
£
£



Cost or valuation


At 1 August 2022
248,867
551,960
228,884
1,029,711


Additions
90,365
48,615
75,825
214,805


Disposals
(26,670)
-
-
(26,670)



At 31 July 2023

312,562
600,575
304,709
1,217,846



Depreciation


At 1 August 2022
153,769
245,584
67,810
467,163


Charge for the year on owned assets
43,556
53,236
30,462
127,254


Disposals
(15,419)
-
-
(15,419)



At 31 July 2023

181,906
298,820
98,272
578,998



Net book value



At 31 July 2023
130,656
301,755
206,437
638,848



At 31 July 2022
95,098
306,376
161,074
562,548

Page 7

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 August 2022
10,000



At 31 July 2023
10,000





7.


Debtors

2023
2022
£
£


Trade debtors
317,843
328,887

Other debtors
33,315
26,858

Prepayments and accrued income
85,401
78,503

436,559
434,248



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
44,060
44,000

Trade creditors
242,297
226,379

Other taxation and social security
287,941
269,225

Obligations under finance lease and hire purchase contracts
8,709
10,968

Other creditors
100
-

Accruals and deferred income
153,386
147,920

736,493
698,492


Bank loans are secured by a bond and floating charge over the assets of the company.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.

Page 8

 
TVG (ANGUS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
84,743
128,333

Net obligations under finance leases and hire purchase contracts
4,940
13,649

Accruals and deferred income
1,173
-

90,856
141,982


Bank loans are secured by a bond and floating charge over the assets of the company.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 Ordinary A shares of £1 each
2
2
2 Ordinary B shares of £1 each
2
2
2 Ordinary C shares of £1 each
2
2
2 Ordinary D shares of £1 each
2
2
2 Ordinary E shares of £1 each
2
2

10

10



Page 9