Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false2022-01-01The principal activity of the company continued to be that of providing professional services5151falsetrue 07178955 2022-01-01 2022-12-31 07178955 2021-01-01 2021-12-31 07178955 2022-12-31 07178955 2021-12-31 07178955 2021-01-01 07178955 c:Director3 2022-01-01 2022-12-31 07178955 d:CurrentFinancialInstruments 2022-12-31 07178955 d:CurrentFinancialInstruments 2021-12-31 07178955 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07178955 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07178955 d:ShareCapital 2022-01-01 2022-12-31 07178955 d:ShareCapital 2022-12-31 07178955 d:ShareCapital 2021-01-01 2021-12-31 07178955 d:ShareCapital 2021-12-31 07178955 d:ShareCapital 2021-01-01 07178955 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07178955 d:RetainedEarningsAccumulatedLosses 2022-12-31 07178955 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 07178955 d:RetainedEarningsAccumulatedLosses 2021-12-31 07178955 d:RetainedEarningsAccumulatedLosses 2021-01-01 07178955 c:FRS102 2022-01-01 2022-12-31 07178955 c:Audited 2022-01-01 2022-12-31 07178955 c:FullAccounts 2022-01-01 2022-12-31 07178955 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07178955 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 07178955










ARMSTRONG TEASDALE MANAGEMENT LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
REGISTERED NUMBER: 07178955

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,405,067
684,907

Cash at bank and in hand
 5 
-
7,968

  
4,405,067
692,875

Creditors: amounts falling due within one year
 6 
(4,404,067)
(691,875)

Net current assets
  
 
 
1,000
 
 
1,000

Total assets less current liabilities
  
1,000
1,000

  

Net assets
  
1,000
1,000


Capital and reserves
  

Called up share capital 
  
1,000
1,000

  
1,000
1,000


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 on 7 March 2024.




Patrick Rasche
Director

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

Page 1

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
1,000
-
1,000


Comprehensive income for the year

Profit for the year

-
479,311
479,311
Total comprehensive income for the year
-
479,311
479,311

Dividends: Equity capital
-
(479,311)
(479,311)


Total transactions with owners
-
(479,311)
(479,311)


At 31 December 2022
1,000
-
1,000


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


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2021
1,000
-
1,000


Comprehensive income for the year

Profit for the year

-
382,829
382,829
Total comprehensive income for the year
-
382,829
382,829

Dividends: Equity capital
-
(382,829)
(382,829)


Total transactions with owners
-
(382,829)
(382,829)


At 31 December 2021
1,000
-
1,000


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

Page 2

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 38-43 Lincoln's Inn Fields, London, England, WC2A 3PE

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.

The company's revenue primarily consits of recharges on a cost-plus basis to its parent undertaking and so it is recognised on the recognition of the associated cost.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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.

Page 3

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

Taxation

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

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
Page 4

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

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 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.

 
2.12

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.

Page 5

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 51 (2021 - 51).


4.


Debtors

2022
2021
£
£


Trade debtors
54,300
-

Amounts owed by group undertakings
3,997,967
417,330

Other debtors
5,120
10,053

Prepayments and accrued income
347,680
257,524

4,405,067
684,907



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
-
7,968

Less: bank overdrafts
(1,975,111)
-

(1,975,111)
7,968



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
1,975,111
-

Trade creditors
863,067
265,530

Other taxation and social security
1,069,695
203,217

Other creditors
-
118,079

Accruals and deferred income
496,194
105,049

4,404,067
691,875


Page 6

 
ARMSTRONG TEASDALE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Contingent Liabilities

At the year end, the company had a contingent liability of £968,156 (2021: £1,415,563) in relation to security provided on the bank borrowings in Armtrong Teasdale Limited, the parent undertaking.


8.


Controlling party

The company's immediate parent undertaking is Armstrong Teasdale Limited, Registered office 38-43 Lincoln's Inn Fields, London WC2A 3PE. 
The ultimate parent undertaking is Armstrong Teasdale LLP, incorporated in the USA. Registered office 7700 Forsyth Blvd, Ste. 1800, St Loius, MO 63105.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 15 March 2024 by Shilen Manek ACA FCCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 7