Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31No description of principal activity2023-01-01false1313truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC169751 2023-01-01 2023-12-31 SC169751 2022-04-01 2022-12-31 SC169751 2023-12-31 SC169751 2022-12-31 SC169751 c:CompanySecretary1 2023-01-01 2023-12-31 SC169751 c:Director6 2023-01-01 2023-12-31 SC169751 c:Director7 2023-01-01 2023-12-31 SC169751 c:RegisteredOffice 2023-01-01 2023-12-31 SC169751 d:FurnitureFittings 2023-01-01 2023-12-31 SC169751 d:FurnitureFittings 2023-12-31 SC169751 d:FurnitureFittings 2022-12-31 SC169751 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC169751 d:CurrentFinancialInstruments 2023-12-31 SC169751 d:CurrentFinancialInstruments 2022-12-31 SC169751 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC169751 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC169751 d:ShareCapital 2023-12-31 SC169751 d:ShareCapital 2022-12-31 SC169751 d:SharePremium 2023-12-31 SC169751 d:SharePremium 2022-12-31 SC169751 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC169751 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC169751 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC169751 c:OrdinaryShareClass1 2023-12-31 SC169751 c:OrdinaryShareClass1 2022-12-31 SC169751 c:FRS102 2023-01-01 2023-12-31 SC169751 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC169751 c:FullAccounts 2023-01-01 2023-12-31 SC169751 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC169751 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC169751










TEAMCARD LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
TEAMCARD LIMITED
 

COMPANY INFORMATION


Directors
Mr R J Byrne 
Mr J Brousseau 




Company secretary
Ms L E Ray



Registered number
SC169751



Registered office
St Leonards Lodge
Abbey Walk

St Andrews

Fife

KY16 9LB




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
TEAMCARD LIMITED
REGISTERED NUMBER:SC169751

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible fixed assets
  
53,610
9,755

  
53,610
9,755

Current assets
  

Stocks
  
46,514
101,381

Debtors: amounts falling due within one year
 5 
2,061,093
1,795,111

Bank and cash balances
  
367,149
344,728

  
2,474,756
2,241,220

Creditors: amounts falling due within one year
 6 
(468,119)
(386,086)

Net current assets
  
 
 
2,006,637
 
 
1,855,134

Total assets less current liabilities
  
2,060,247
1,864,889

  

Net assets
  
2,060,247
1,864,889


Capital and reserves
  

Called up share capital 
 7 
584
584

Share premium account
  
662,501
662,501

Profit and loss account
  
1,397,162
1,201,804

  
2,060,247
1,864,889


Page 1

 
TEAMCARD LIMITED
REGISTERED NUMBER:SC169751

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 by: 




Mr R J Byrne
Director

Date: 26 March 2024

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

Page 2

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


1.


General information

Teamcard Limited is a private Company, limited by shares, incorporated in Scotland with registration number SC169751. The registered office address is St Leonards Lodge, Abbey Walk, St Andrews, Fife, KY16 9LB.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

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 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

 
TEAMCARD LIMITED
 

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

2.Accounting policies (continued)

 
2.3

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

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 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.

 
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.

Page 4

 
TEAMCARD LIMITED
 

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

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Fixtures, fittings and 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.

 
2.6

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. 

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 13).

Page 5

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


4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost or valuation


At 1 January 2023
67,587


Additions
58,806


Disposals
(712)



At 31 December 2023

125,681



Depreciation


At 1 January 2023
57,832


Charge for the year on owned assets
14,491


Disposals
(252)



At 31 December 2023

72,071



Net book value



At 31 December 2023
53,610



At 31 December 2022
9,755


5.


Debtors

2023
2022
£
£


Trade debtors
355,070
139,336

Amounts owed by group undertakings
1,483,988
1,475,788

Prepayments and accrued income
21,087
15,594

Tax recoverable
41,044
-

Deferred taxation
159,904
164,393

2,061,093
1,795,111


Page 6

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


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
52,382
15,359

Other taxation and social security
61,785
60,473

Accruals and deferred income
353,952
310,254

468,119
386,086





7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



58,413 (2022 - 58,413) Ordinary shares of £0.01 each
584
584



8.


Controlling party

From 15 June 2022, the parent company was Teamcard Holding Canada Inc., a company incorporated in Canada and the ultimate parent company was Ensemble Holdings Inc., a company incorporated in Canada. Mr J Brousseau, a director, controls the group through his controlling interest in Ensemble Holdings Inc.


Page 7