REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE TESTING CONSULTANCY EUROPE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE TESTING CONSULTANCY EUROPE LIMITED |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE TESTING CONSULTANCY EUROPE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
BALANCE SHEET |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
The Testing Consultancy Europe Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
The company has obtained a letter of support from its parent company, Mosaic Group Ltd. The directors of Mosaic Group Ltd have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for the foreseeable future being for a period of at least 12 months and 1 day following the signing of the audit report. As a result of this commitment, the directors have adopted the going concern basis in preparing these financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents the total invoice value, excluding value-added tax, of sales made during the year. Revenue is recognised based on the completion status of the service as this is when the risks and rewards are transferred to the customer. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net depreciation and any impairment losses. |
Financial instruments |
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Within one year |
Between one and five years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
THE TESTING CONSULTANCY EUROPE LIMITED (REGISTERED NUMBER: 13199719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
10. | RELATED PARTY DISCLOSURES |
The Testing Consultancy Europe Limited is related to Mosaic Group Ltd (incorporated in NZ), The Testing Consultancy Australia Pty Ltd, The Testing Consultancy Ltd (incorporated in NZ), and The Testing Consultancy US Corporation, as they are within the same group. During the year, the Company made several transactions to these related parties, and had balances outstanding with them as at the year end. |
Mosaic Group Ltd (incorporated in NZ) |
The Company owed Mosaic Group Ltd £2,084 (2023: £NIL). Mosaic Group Ltd paid expenses on behalf of The Testing Consultancy Europe Limited amounting to £2,084 (2023: £NIL). |
The Testing Consultancy Australia Pty Ltd |
The Company owed The Testing Consultancy Australia Pty Ltd £NIL (2023: £32,945) at the year end. The Testing Consultancy Australia Pty Ltd made sales and recharges to the Company of £NIL (2023: £32,945) during the year. In the year, The Testing Consultancy Ltd took over the intercompany debt owed by The Testing Consultancy Europe Limited. |
The Testing Consultancy Ltd (incorporated in NZ) |
The Company owed The Testing Consultancy Ltd £594,329 (2023: £336,917) at the year end. The Testing Consultancy Ltd made sales and recharges to the Company of £99,998 (2023: £74,951) during the year. The Company received a trade and enterprise grant to the value of £182,921 (2023: £50,022) through The Testing Consultancy Ltd. The Company made sales to the Testing Consultancy Ltd of £23,212 (2023: £NIL). |
The Testing Consultancy US Corporation |
The Company owed The Testing Consultancy US Corporation £77,025 (2023: £66,681) at the year end. The Testing Consultancy US Corporation made sales and recharges to the Company of £10,344 (2023: £65,350) during the year. |
11. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |
12. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Mosaic Group Ltd, a company incorporated in New Zealand and registered at 96 St Georges Bay Road, Parnell, Auckland, 1052. Mosaic Group Ltd holds a 75% ownership interest in The Testing Consultancy Europe Ltd. The consolidated accounts are not publicly available. |