Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false44truetruefalse 09278768 2023-04-01 2024-03-31 09278768 2022-04-01 2023-03-31 09278768 2024-03-31 09278768 2023-03-31 09278768 c:Director1 2023-04-01 2024-03-31 09278768 c:Director2 2023-04-01 2024-03-31 09278768 c:Director3 2023-04-01 2024-03-31 09278768 c:Director4 2023-04-01 2024-03-31 09278768 c:RegisteredOffice 2023-04-01 2024-03-31 09278768 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 09278768 d:Buildings d:ShortLeaseholdAssets 2024-03-31 09278768 d:Buildings d:ShortLeaseholdAssets 2023-03-31 09278768 d:FurnitureFittings 2023-04-01 2024-03-31 09278768 d:FurnitureFittings 2024-03-31 09278768 d:FurnitureFittings 2023-03-31 09278768 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09278768 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09278768 d:CurrentFinancialInstruments 2024-03-31 09278768 d:CurrentFinancialInstruments 2023-03-31 09278768 d:Non-currentFinancialInstruments 2024-03-31 09278768 d:Non-currentFinancialInstruments 2023-03-31 09278768 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09278768 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09278768 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09278768 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09278768 d:ShareCapital 2024-03-31 09278768 d:ShareCapital 2023-03-31 09278768 d:RetainedEarningsAccumulatedLosses 2024-03-31 09278768 d:RetainedEarningsAccumulatedLosses 2023-03-31 09278768 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 09278768 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-03-31 09278768 c:FRS102 2023-04-01 2024-03-31 09278768 c:Audited 2023-04-01 2024-03-31 09278768 c:FullAccounts 2023-04-01 2024-03-31 09278768 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09278768 d:WithinOneYear 2024-03-31 09278768 d:WithinOneYear 2023-03-31 09278768 d:BetweenOneFiveYears 2024-03-31 09278768 d:BetweenOneFiveYears 2023-03-31 09278768 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09278768 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 09278768







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


TECHSPACE CML LIMITED






































img0a36.png                     

 


TECHSPACE CML LIMITED
 


 
COMPANY INFORMATION


Directors
J. D. Bevan 
D. Ponweera 
A. C. M. Rabarts 
R D Stevenson 




Registered number
09278768



Registered office
25 Luke Street

London

EC2A 4DS




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


TECHSPACE CML LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


TECHSPACE CML LIMITED
REGISTERED NUMBER:09278768



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Unaudited 2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
236,929
324,342

  
236,929
324,342

Current assets
  

Debtors: amounts falling due after more than one year
 5 
99,791
99,791

Debtors: amounts falling due within one year
 5 
88,855
267,107

Cash at bank and in hand
  
142,600
29,028

  
331,246
395,926

Creditors: amounts falling due within one year
 6 
(522,514)
(1,306,917)

Net current liabilities
  
 
 
(191,268)
 
 
(910,991)

Total assets less current liabilities
  
45,661
(586,649)

Creditors: amounts falling due after more than one year
 7 
(880,111)
(202,810)

Provisions for liabilities
  

Other provisions
  
(22,212)
-

  
 
 
(22,212)
 
 
-

Net liabilities
  
(856,662)
(789,459)


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1
1

Profit and loss account
  
(856,663)
(789,460)

  
(856,662)
(789,459)


Page 1

 


TECHSPACE CML LIMITED
REGISTERED NUMBER:09278768


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Directors' Report and Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime.

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 by: 




D. Ponweera
Director

Date: 2 September 2024

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

Page 2

 


TECHSPACE CML LIMITED
 


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

1.


General information

Techspace CML Limited is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is disclosed on the company information page. The principal place of business is 38-40 Commercial Road, London, E1 1LN.
The Company's functional and presentational currency is GBP and is rounded to the nearest £.

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

Total liabilities exceed current assets at the balance sheet date. The directors consider however that the Company has the ability to meet its liabilities as and when they fall due as the Company has sufficient support from its directors, shareholders and fellow Group companies. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Turnover is in relation to income received from office workspace rentals and property management. 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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

Page 3

 


TECHSPACE CML LIMITED
 


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

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Leasehold improvements
-
over the life of the lease
Fixtures and fittings
-
over five years

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

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The Company only enters into 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 to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 


TECHSPACE CML LIMITED
 


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

4.


Tangible fixed assets





Leasehold improvements
Fixtures and fittings
Total

£
£
£



Cost 


At 1 April 2023 (unaudited)
1,014,108
96,469
1,110,577


Additions
66,686
3,551
70,237


Disposals
-
(51,424)
(51,424)



At 31 March 2024

1,080,794
48,596
1,129,390



Depreciation


At 1 April 2023 (unaudited)
726,092
60,143
786,235


Charge for the year
142,083
15,567
157,650


Disposals
-
(51,424)
(51,424)



At 31 March 2024

868,175
24,286
892,461



Net book value



At 31 March 2024
212,619
24,310
236,929



At 31 March 2023 (unaudited)
288,016
36,326
324,342

Page 5

 


TECHSPACE CML LIMITED
 


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

5.


Debtors

2024
Unaudited 2023
£
£

Due after more than one year

Prepayments and accrued income
99,791
99,791

99,791
99,791


2024
Unaudited 2023
£
£

Due within one year

Trade debtors
34,028
2,244

Amounts owed by group undertakings
-
244

Other debtors
3,719
3,637

Prepayments and accrued income
51,108
260,982

88,855
267,107



6.


Creditors: Amounts falling due within one year

2024
Unaudited 2023
£
£

Trade creditors
17,017
327,355

Amounts owed to group undertakings
-
484,306

Other taxation and social security
39,708
55,351

Other creditors
308,777
394,558

Accruals and deferred income
157,012
45,347

522,514
1,306,917



7.


Creditors: Amounts falling due after more than one year

2024
Unaudited 2023
£
£

Amounts owed to group undertakings
825,602
-

Other creditors
54,509
202,810

880,111
202,810


Page 6

 


TECHSPACE CML LIMITED
 


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

8.


Provisions





Dilapidationsprovision

£





Dilapidations
22,212



At 31 March 2024
22,212

Provision has been made for dilapidation works that are required at the end of the lease. Timing of payments will be
due on lease expiry. The unwinding of the provision has been recognised in the profit and loss account, within 'interest payable and similar expenses'.


9.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
Unaudited 2023
£
£


Not later than 1 year
492,532
492,532

Later than 1 year and not later than 5 years
1,026,108
1,518,639

1,518,640
2,011,171


10.


Related party transactions

The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.


11.


Controlling party

Techspace CML Limited are consolidated by Techspace Group Limited, which is the smallest and largest group for which consolidated financial statements are drawn for. The consolidated financial statements of this group may be obtained from the registered office at 25 Luke Street, London, England, EC2A 4DS.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 2 September 2024 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 7