Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312falsefalse2023-06-01Holding Company activitiesfalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13408118 2023-06-01 2023-12-31 13408118 2022-06-01 2023-05-31 13408118 2023-12-31 13408118 2023-05-31 13408118 c:Director2 2023-06-01 2023-12-31 13408118 d:CurrentFinancialInstruments 2023-12-31 13408118 d:CurrentFinancialInstruments 2023-05-31 13408118 d:Non-currentFinancialInstruments 2023-12-31 13408118 d:Non-currentFinancialInstruments 2023-05-31 13408118 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13408118 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13408118 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13408118 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 13408118 d:ShareCapital 2023-12-31 13408118 d:ShareCapital 2023-05-31 13408118 d:RetainedEarningsAccumulatedLosses 2023-12-31 13408118 d:RetainedEarningsAccumulatedLosses 2023-05-31 13408118 c:FRS102 2023-06-01 2023-12-31 13408118 c:AuditExempt-NoAccountantsReport 2023-06-01 2023-12-31 13408118 c:FullAccounts 2023-06-01 2023-12-31 13408118 c:PrivateLimitedCompanyLtd 2023-06-01 2023-12-31 13408118 6 2023-06-01 2023-12-31 13408118 e:PoundSterling 2023-06-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13408118









TIMECARE LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
TIMECARE LIMITED
REGISTERED NUMBER: 13408118

BALANCE SHEET
AS AT 31 DECEMBER 2023

Period ended 31 December
31 May
2023
2023
Note
£
£

Fixed assets
  

Investments
 5 
596,691
1,588,884

  
596,691
1,588,884

Current assets
  

Cash at bank and in hand
 6 
100
100

  
100
100

Creditors: amounts falling due within one year
 7 
(603,067)
(798,353)

Net current liabilities
  
 
 
(602,967)
 
 
(798,253)

Total assets less current liabilities
  
(6,276)
790,631

Creditors: amounts falling due after more than one year
 8 
-
(794,795)

  

Net liabilities
  
(6,276)
(4,164)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(6,376)
(4,264)

  
(6,276)
(4,164)


Page 1

 
TIMECARE LIMITED
REGISTERED NUMBER: 13408118
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 period 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 profit and loss account 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 Welch
Director

Date: 12 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TIMECARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Timecare Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company meets its day to day working capital requirements through a directors loan and the directors intend to continue to support the company. As a result they have adopted the going concern basis of accounting. 

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

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.

 
2.5

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.

 
2.6

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,
Page 3

 
TIMECARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees




The average monthly number of employees, including directors, during the period was 2 (2023 - 2).

Page 4

 
TIMECARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
1,588,884



At 31 December 2023

1,588,884



Impairment


Charge for the period
992,193



At 31 December 2023

992,193



Net book value



At 31 December 2023
596,691



At 31 May 2023
1,588,884

During the year the investment in subsidiary has been impaired and re-stated to the consideration of £596,691, as agreed  by the parties involved.


6.


Cash and cash equivalents

Period ended 31 December
31 May
2023
2023
£
£

Cash at bank and in hand
100
100

100
100


Page 5

 
TIMECARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

Period ended 31 December
31 May
2023
2023
£
£

Amounts owed to group undertakings
265,143
263,121

Other creditors
335,310
532,708

Accruals and deferred income
2,614
2,524

603,067
798,353



8.


Creditors: Amounts falling due after more than one year

Period ended 31 December
31 May
2023
2023
£
£

Other creditors
-
794,795

-
794,795


During the year there has been a loan write back of £992,193, as agreed by the parties involved.


9.


Related party transactions

In other creditors is an amount loaned to the company by the directors of £135,310 (31.05.2023: £135,310). There is no interest due on this loan and it is repayable on demand. In other creditors there is an amount of £265,143 (31.05.2023: £263,121) owed to the subsidiary company.

 
Page 6