Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0false2023-04-01false0falsetrue 09706774 2023-04-01 2024-03-31 09706774 2022-04-01 2023-03-31 09706774 2024-03-31 09706774 2023-03-31 09706774 c:Director1 2023-04-01 2024-03-31 09706774 d:FreeholdInvestmentProperty 2024-03-31 09706774 d:FreeholdInvestmentProperty 2023-03-31 09706774 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 09706774 d:CurrentFinancialInstruments 2024-03-31 09706774 d:CurrentFinancialInstruments 2023-03-31 09706774 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09706774 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09706774 d:ShareCapital 2024-03-31 09706774 d:ShareCapital 2023-03-31 09706774 d:RetainedEarningsAccumulatedLosses 2024-03-31 09706774 d:RetainedEarningsAccumulatedLosses 2023-03-31 09706774 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09706774 c:OrdinaryShareClass1 2024-03-31 09706774 c:OrdinaryShareClass1 2023-03-31 09706774 c:FRS102 2023-04-01 2024-03-31 09706774 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09706774 c:FullAccounts 2023-04-01 2024-03-31 09706774 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09706774 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09706774
















TAS ASSOCIATES LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

































TAS ASSOCIATES LIMITED
REGISTERED NUMBER:09706774

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
725,000
894,487

  
725,000
894,487

Current assets
  

Debtors: amounts falling due within one year
 5 
-
73,154

  
-
73,154

Creditors: amounts falling due within one year
 6 
(811,820)
(885,207)

Net current liabilities
  
 
 
(811,820)
 
 
(812,053)

Total assets less current liabilities
  
(86,820)
82,434

  

Net (liabilities)/assets
  
(86,820)
82,434


Capital and reserves
  

Called up share capital 
 7 
3
3

Profit and loss account
  
(86,823)
82,431

  
(86,820)
82,434


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: 



L L de Savary
Director

Date: 12 July 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1


TAS ASSOCIATES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

TAS Associates Limited is a limited liability company incorporated in England and Wales. The company's registered office is 10 Temple Back, Bristol, BS1 6FL.

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

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

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 reporting date in the countries where the Company operates and generates income.

 
2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 2


TAS ASSOCIATES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

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 with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
Page 3


TAS ASSOCIATES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (continued)


2.8
FINANCIAL INSTRUMENTS (CONTINUED)

impairment reversal is recognised in the profit or loss.

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.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2023: £NIL)
Page 4


TAS ASSOCIATES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 April 2023
894,487


Surplus on revaluation
(169,487)



AT 31 MARCH 2024
725,000

On 14 June 2024 the company sold the freehold investment property.

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


DEBTORS

2024
2023
£
£


Other debtors
-
73,154

-
73,154



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Other taxation and social security
127
2,316

Other creditors
811,693
882,891

811,820
885,207



7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



3 (2023: 3) Ordinary A shares of £1.00 each
3
3


Page 5


TAS ASSOCIATES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


RELATED PARTY TRANSACTIONS

Included in other creditors at the year end is £791,843 (2023: £864,997) in respect of amounts owing to directors of the company. The amounts are unsecured, interest free and repayable on demand.


9.


CONTROLLING PARTY

There is no ultimate controlling party.

 
Page 6