Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.management consultancy activities2022-09-01false32falsetrue 05218324 2022-09-01 2023-08-31 05218324 2021-09-01 2022-08-31 05218324 2023-08-31 05218324 2022-08-31 05218324 2021-09-01 05218324 c:Director1 2022-09-01 2023-08-31 05218324 d:FurnitureFittings 2022-09-01 2023-08-31 05218324 d:OfficeEquipment 2022-09-01 2023-08-31 05218324 d:OfficeEquipment 2023-08-31 05218324 d:OfficeEquipment 2022-08-31 05218324 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05218324 d:ComputerEquipment 2022-09-01 2023-08-31 05218324 d:ComputerEquipment 2023-08-31 05218324 d:ComputerEquipment 2022-08-31 05218324 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05218324 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05218324 d:CurrentFinancialInstruments 2023-08-31 05218324 d:CurrentFinancialInstruments 2022-08-31 05218324 d:Non-currentFinancialInstruments 2023-08-31 05218324 d:Non-currentFinancialInstruments 2022-08-31 05218324 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05218324 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 05218324 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05218324 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 05218324 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 05218324 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 05218324 d:ShareCapital 2023-08-31 05218324 d:ShareCapital 2022-08-31 05218324 d:ShareCapital 2021-09-01 05218324 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 05218324 d:RetainedEarningsAccumulatedLosses 2023-08-31 05218324 d:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 05218324 d:RetainedEarningsAccumulatedLosses 2022-08-31 05218324 d:RetainedEarningsAccumulatedLosses 2021-09-01 05218324 c:FRS102 2022-09-01 2023-08-31 05218324 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05218324 c:FullAccounts 2022-09-01 2023-08-31 05218324 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05218324 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 05218324










TTC INSTITUTE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
TTC INSTITUTE LIMITED
REGISTERED NUMBER: 05218324

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,465
1,995

Current assets
  

Debtors: amounts falling due within one year
 5 
76,675
120,306

Cash at bank and in hand
 6 
15,833
57,230

  
92,508
177,536

Creditors: amounts falling due within one year
 7 
(44,960)
(57,376)

Net current assets
  
 
 
47,548
 
 
120,160

Total assets less current liabilities
  
49,013
122,155

Creditors: amounts falling due after more than one year
 8 
(18,226)
(28,289)

  

Net assets
  
30,787
93,866


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
30,687
93,766

  
30,787
93,866


Page 1

 
TTC INSTITUTE LIMITED
REGISTERED NUMBER: 05218324
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 comprehensive income 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: 



David James Norman
Director

Date: 13 April 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
TTC INSTITUTE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2021
100
36,990
37,090


Comprehensive income for the year

Profit for the year
-
86,776
86,776


Contributions by and distributions to owners

Dividends: Equity capital
-
(30,000)
(30,000)



At 1 September 2022
100
93,766
93,866


Comprehensive income for the year

Loss for the year
-
(33,079)
(33,079)


Contributions by and distributions to owners

Dividends: Equity capital
-
(30,000)
(30,000)


At 31 August 2023
100
30,687
30,787


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

TTC Institute Limited is a private company limited by shares incorporated in England within the United Kingdom. The registered office address is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The principal activity is that of management consultancy activities other than financial management.

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 financial statements are presented in sterling which is the functional currency of the Company, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The shareholders have indicated that they will continue to provide further financial support, as is necessary, to enable the company to meet its liabilites as they fall due, over a period of at least 12 months from the date of approval of these accounts. As such these accounts have been prepared under the going concern basis.

 
2.3

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.

 
2.4

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.

Page 4

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
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

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
25%

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 5

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

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 within 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 instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 6

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

 
2.13

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 3 (2022 - 2).

Page 7

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
1,209
7,883
9,092


Additions
-
599
599



At 31 August 2023

1,209
8,482
9,691



Depreciation


At 1 September 2022
604
6,493
7,097


Charge for the year on owned assets
302
827
1,129



At 31 August 2023

906
7,320
8,226



Net book value



At 31 August 2023
303
1,162
1,465



At 31 August 2022
605
1,390
1,995


5.


Debtors

2023
2022
£
£


Trade debtors
-
52,152

Other debtors
57,804
51,433

Tax recoverable
18,871
16,721

76,675
120,306



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
15,833
57,230


Page 8

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,064
9,809

Amounts owed to group undertakings
11,722
-

Corporation tax
2,150
21,751

Other taxation and social security
5,466
18,032

Other creditors
10,316
2,392

Accruals and deferred income
5,242
5,392

44,960
57,376


Amounts owed to group undertakings of £11,722 (2022: £Nil) are unsecured, interest-free and repayable on demand.

The following liabilities were secured:

2023
2022
£
£



Bank loans
10,064
9,809

Details of security provided:

Security is provided for on the assets of the Company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
18,226
28,289


The following liabilities were secured:

2023
2022
£
£



Bank loans
17,726
28,289

Details of security provided:

Security is provided for on the assets of the Company.

Page 9

 
TTC INSTITUTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,064
9,809


Amounts falling due 2-5 years

Bank loans
18,226
28,289


28,290
38,098



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,696 (2022: £13,692). Contributions totalling £2,863 (2022: £2,392) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

The Company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.


12.


Controlling party

The ultimate controlling party is David James Norman.

 
Page 10