Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The tax expense for the year comprises current and deferred tax. 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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.Recruitment consultants2023-01-01false1615truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03970090 2023-01-01 2023-12-31 03970090 2022-01-01 2022-12-31 03970090 2023-12-31 03970090 2022-12-31 03970090 c:Director1 2023-01-01 2023-12-31 03970090 c:Director2 2023-01-01 2023-12-31 03970090 c:Director3 2023-01-01 2023-12-31 03970090 c:Director4 2023-01-01 2023-12-31 03970090 c:RegisteredOffice 2023-01-01 2023-12-31 03970090 d:FurnitureFittings 2023-01-01 2023-12-31 03970090 d:FurnitureFittings 2023-12-31 03970090 d:FurnitureFittings 2022-12-31 03970090 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03970090 d:OfficeEquipment 2023-01-01 2023-12-31 03970090 d:OfficeEquipment 2023-12-31 03970090 d:OfficeEquipment 2022-12-31 03970090 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03970090 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03970090 d:CurrentFinancialInstruments 2023-12-31 03970090 d:CurrentFinancialInstruments 2022-12-31 03970090 d:Non-currentFinancialInstruments 2023-12-31 03970090 d:Non-currentFinancialInstruments 2022-12-31 03970090 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03970090 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03970090 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03970090 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03970090 d:ShareCapital 2023-12-31 03970090 d:ShareCapital 2022-12-31 03970090 d:CapitalRedemptionReserve 2023-12-31 03970090 d:CapitalRedemptionReserve 2022-12-31 03970090 d:RetainedEarningsAccumulatedLosses 2023-12-31 03970090 d:RetainedEarningsAccumulatedLosses 2022-12-31 03970090 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03970090 c:OrdinaryShareClass1 2023-12-31 03970090 c:FRS102 2023-01-01 2023-12-31 03970090 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03970090 c:FullAccounts 2023-01-01 2023-12-31 03970090 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03970090 2 2023-01-01 2023-12-31 03970090 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03970090










TEC PARTNERS (SOUTH EAST) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
COMPANY INFORMATION


Directors
A L Bailey 
C Beech 
L Howard 
P Kitley 




Registered number
03970090



Registered office
Office 5.3 Fuel Studios
Kiln Lane

Pottergate

Norwich

NR2 1DX




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
TEC PARTNERS (SOUTH EAST) LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TEC PARTNERS (SOUTH EAST) LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TEC Partners (South East) Limited for the year ended 31 December 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of TEC Partners (South East) Limited, as a body, in accordance with the terms of our engagement letter dated 20 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of TEC Partners (South East) Limited and state those matters that we have agreed to state to the Board of directors of TEC Partners (South East) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TEC Partners (South East) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that TEC Partners (South East) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of TEC Partners (South East) Limited. You consider that TEC Partners (South East) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of TEC Partners (South East) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

22 March 2024
Page 1

 
TEC PARTNERS (SOUTH EAST) LIMITED
REGISTERED NUMBER: 03970090

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,735
11,227

Current assets
  

Debtors: amounts falling due within one year
 5 
913,462
1,584,064

Cash at bank and in hand
  
88,230
143,408

  
1,001,692
1,727,472

Creditors: amounts falling due within one year
 6 
(394,470)
(705,147)

Net current assets
  
 
 
607,222
 
 
1,022,325

Total assets less current liabilities
  
615,957
1,033,552

Creditors: amounts falling due after more than one year
 7 
(32,407)
(87,963)

Provisions for liabilities
  

Deferred tax
  
(2,184)
(2,807)

Net assets
  
581,366
942,782


Capital and reserves
  

Called up share capital 
 8 
95
95

Capital redemption reserve
  
(19,968)
(19,968)

Profit and loss account
  
601,239
962,655

  
581,366
942,782


Page 2

 
TEC PARTNERS (SOUTH EAST) LIMITED
REGISTERED NUMBER: 03970090
    
BALANCE SHEET (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 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 22 March 2024.






P Kitley
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

TEC Partners (South East) Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The registered office is Office 5.3 Fuel Studios, Kiln Lane, Pottergate, Norwich, NR2 1DX.
The Company's principal activity is recruitment consultancy services and the Company's principal place of activity is Reading, Berkshire.

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

Going concern

The directors have considered a period of twelve months from the date of approval of the financial statements. They consider that current and future sources of funding or support will be more than adequate for the company’s needs. As such they believe that the financial statements should be prepared on the going concern basis.

 
2.3

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.

Page 4

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

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 a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
25%
reducing balance

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.

Page 6

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 15).

Page 7

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
34,886
76,215
111,101



At 31 December 2023

34,886
76,215
111,101



Depreciation


At 1 January 2023
28,595
71,279
99,874


Charge for the year on owned assets
1,258
1,234
2,492



At 31 December 2023

29,853
72,513
102,366



Net book value



At 31 December 2023
5,033
3,702
8,735



At 31 December 2022
6,291
4,936
11,227


5.


Debtors

2023
2022
£
£


Factored debts
79,312
630,697

Amounts owed by group undertakings
768,194
908,080

Other debtors
43,818
21,020

Prepayments and accrued income
22,138
24,267

913,462
1,584,064


Security is provided by the Company for the invoice financing facility.






Page 8

 
TEC PARTNERS (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
55,556
55,556

Trade creditors
126,470
128,772

Corporation tax
-
71,514

Other taxation and social security
153,779
366,381

Other creditors
2,774
10,759

Accruals and deferred income
55,891
72,165

394,470
705,147



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,407
87,963

32,407
87,963



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



95 Ordinary shares of £1.00 each
95
95



9.


Pension commitments

Contributions totalling £2,774 (2022 - £10,759) were payable to the fund at the balance sheet date and are included in creditors.


10.Other financial commitments

At 31 December 2023, the company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £205,022.

 
Page 9