Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-011falseHolding Company1truetruefalse 07659405 2022-07-01 2023-06-30 07659405 2021-07-01 2022-06-30 07659405 2023-06-30 07659405 2022-06-30 07659405 c:Director1 2022-07-01 2023-06-30 07659405 d:Goodwill 2022-07-01 2023-06-30 07659405 d:Goodwill 2023-06-30 07659405 d:Goodwill 2022-06-30 07659405 d:CurrentFinancialInstruments 2023-06-30 07659405 d:CurrentFinancialInstruments 2022-06-30 07659405 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07659405 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07659405 d:ShareCapital 2023-06-30 07659405 d:ShareCapital 2022-06-30 07659405 d:RevaluationReserve 2022-07-01 2023-06-30 07659405 d:RevaluationReserve 2023-06-30 07659405 d:RevaluationReserve 2022-06-30 07659405 c:FRS102 2022-07-01 2023-06-30 07659405 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07659405 c:FullAccounts 2022-07-01 2023-06-30 07659405 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07659405 5 2022-07-01 2023-06-30 07659405 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number:  07659405














MF T.G. INTERNATIONAL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


 
MF T.G. INTERNATIONAL LTD
REGISTERED NUMBER: 07659405

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,500,000
1,500,000

  
1,500,000
1,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

  
1
1

Creditors: amounts falling due within one year
 6 
(95,173)
(93,595)

Net current liabilities
  
 
 
(95,172)
 
 
(93,594)

Total assets less current liabilities
  
1,404,828
1,406,406

  

Net assets
  
1,404,828
1,406,406


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
 7 
1,404,827
1,406,405

  
1,404,828
1,406,406


Page 1

 
MF T.G. INTERNATIONAL LTD
REGISTERED NUMBER: 07659405
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The director considers 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 director acknowledges his 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 by: 


................................................
M A Finch
Director
Date: 15 March 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MF T.G. INTERNATIONAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.07659405). The address of the registered office is Unit 7 Lister Park, Featherstone, Pontefract, England, WF7 6FE.
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is that of a holding company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 following principal accounting policies have been applied:

 
2.2

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 revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the balance sheet date.

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.

Page 3

 
MF T.G. INTERNATIONAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.4

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.

 
2.5

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 4

 
MF T.G. INTERNATIONAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

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.

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.

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 directors, during the year was 1 (2022 - 1).

Page 5

 
MF T.G. INTERNATIONAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
1,500,000



At 30 June 2023

1,500,000






Net book value



At 30 June 2023
1,500,000



At 30 June 2022
1,500,000




5.


Debtors

2023
2022
£
£


Other debtors
1
1

1
1



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
95,173
93,595

95,173
93,595



7.


Reserves

Revaluation reserve

Relates to the revalutaion of the intangible assets in prior periods.

Page 6

 
MF T.G. INTERNATIONAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Related party transactions

Included in other creditors is an amount of £95,173 (2022 - £93,595) owed to Thresher & Glenny Limited, a fellow subsidiary.


9.


Controlling party

The Company is under the control of its parent, Thresher & Glenny Holdco Limited.

Page 7