Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12022-08-01falseConsultancy1truetrue 08131253 2022-08-01 2023-07-31 08131253 2021-08-01 2022-07-31 08131253 2023-07-31 08131253 2022-07-31 08131253 c:Director1 2022-08-01 2023-07-31 08131253 d:FurnitureFittings 2022-08-01 2023-07-31 08131253 d:FurnitureFittings 2023-07-31 08131253 d:FurnitureFittings 2022-07-31 08131253 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08131253 d:CurrentFinancialInstruments 2023-07-31 08131253 d:CurrentFinancialInstruments 2022-07-31 08131253 d:Non-currentFinancialInstruments 2023-07-31 08131253 d:Non-currentFinancialInstruments 2022-07-31 08131253 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08131253 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08131253 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08131253 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 08131253 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 08131253 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 08131253 d:ShareCapital 2023-07-31 08131253 d:ShareCapital 2022-07-31 08131253 d:RetainedEarningsAccumulatedLosses 2023-07-31 08131253 d:RetainedEarningsAccumulatedLosses 2022-07-31 08131253 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 08131253 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 08131253 c:FRS102 2022-08-01 2023-07-31 08131253 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08131253 c:FullAccounts 2022-08-01 2023-07-31 08131253 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 08131253









THEIC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
THEIC LIMITED
REGISTERED NUMBER: 08131253

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,247
2,807

  
2,247
2,807

Current assets
  

Debtors: amounts falling due within one year
 5 
183,467
185,467

Cash at bank and in hand
 6 
7,690
379

  
191,157
185,846

Creditors: amounts falling due within one year
 7 
(28,997)
(16,445)

Net current assets
  
 
 
162,160
 
 
169,401

Total assets less current liabilities
  
164,407
172,208

Creditors: amounts falling due after more than one year
 8 
(12,569)
(18,745)

  

Net assets
  
151,838
153,463


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
151,738
153,363

  
151,838
153,463

Page 1

 
THEIC LIMITED
REGISTERED NUMBER: 08131253
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 on 29 July 2024.




................................................
Timothy John Atkinson
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
THEIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The Company is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the provision of intelligent consultancy services.

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.

 
2.3

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.

 
2.4

Borrowing costs

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

 
2.5

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.

Page 3

 
THEIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

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

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.

 
2.7

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.

 
2.8

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.

 
2.9

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

 
THEIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2022
9,392



At 31 July 2023

9,392



Depreciation


At 1 August 2022
6,585


Charge for the year on owned assets
560



At 31 July 2023

7,145



Net book value



At 31 July 2023
2,247



At 31 July 2022
2,807

Page 5

 
THEIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
182,085
184,085

Other debtors
1,382
1,382

183,467
185,467



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,690
379

7,690
379



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,000
6,000

Other taxation and social security
2,519
480

Other creditors
18,113
8,705

Accruals and deferred income
2,365
1,260

28,997
16,445



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
12,569
18,745

12,569
18,745


Page 6

 
THEIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,000
6,000

Amounts falling due more than one year

Bank loans
12,569
18,745


18,569
24,745



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
7,690
379




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Controlling party

The Company is controlled by the director, Timothy John Atkinson, by virtue of his shareholding as described in the Director's report.

 
Page 7