Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30trueInvestment and advice8false2023-04-01false5falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11625638 2023-04-01 2024-04-30 11625638 2022-04-01 2023-03-31 11625638 2024-04-30 11625638 2023-03-31 11625638 c:Director2 2023-04-01 2024-04-30 11625638 d:OfficeEquipment 2023-04-01 2024-04-30 11625638 d:OfficeEquipment 2024-04-30 11625638 d:OfficeEquipment 2023-03-31 11625638 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 11625638 d:ComputerEquipment 2023-04-01 2024-04-30 11625638 d:ComputerEquipment 2024-04-30 11625638 d:ComputerEquipment 2023-03-31 11625638 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 11625638 d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 11625638 d:CurrentFinancialInstruments 2024-04-30 11625638 d:CurrentFinancialInstruments 2023-03-31 11625638 d:Non-currentFinancialInstruments 2024-04-30 11625638 d:Non-currentFinancialInstruments 2023-03-31 11625638 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11625638 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11625638 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 11625638 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11625638 d:ShareCapital 2024-04-30 11625638 d:ShareCapital 2023-03-31 11625638 d:RetainedEarningsAccumulatedLosses 2024-04-30 11625638 d:RetainedEarningsAccumulatedLosses 2023-03-31 11625638 c:FRS102 2023-04-01 2024-04-30 11625638 c:AuditExemptWithAccountantsReport 2023-04-01 2024-04-30 11625638 c:FullAccounts 2023-04-01 2024-04-30 11625638 c:PrivateLimitedCompanyLtd 2023-04-01 2024-04-30 11625638 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 11625638 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 11625638 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 11625638 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 11625638 6 2023-04-01 2024-04-30 11625638 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 11625638 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11625638 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 11625638 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11625638 e:PoundSterling 2023-04-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 11625638









TPIO LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2024

 
TPIO LTD
 
 
  
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ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TPIO LTD
FOR THE PERIOD ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TPIO Ltd for the period ended 30 April 2024 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW),  which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of TPIO Ltd, as a body, in accordance with the terms of our engagement letter dated 28 April 2020Our work has been undertaken solely to prepare for your approval the financial statements of TPIO Ltd  and state those matters that we have agreed to state to the Board of directors of TPIO Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TPIO Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that TPIO Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TPIO Ltd. You consider that TPIO Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of TPIO Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Evelyn Partners (East) LLP
 
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
9 September 2024
Page 1

 
TPIO LTD
REGISTERED NUMBER: 11625638

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

30 April
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
25,207
-

Investments
  
150
-

  
25,357
-

Current assets
  

Debtors: amounts falling due within one year
 6 
655,011
400,323

Cash at bank and in hand
  
462,626
386,689

  
1,117,637
787,012

Creditors: amounts falling due within one year
 7 
(895,616)
(610,667)

Net current assets
  
 
 
222,021
 
 
176,345

Total assets less current liabilities
  
247,378
176,345

Creditors: amounts falling due after more than one year
 8 
(11,816)
-

Provisions for liabilities
  

Deferred tax
  
(4,948)
-

  
 
 
(4,948)
 
 
-

Net assets
  
230,614
176,345


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
130,614
76,345

  
230,614
176,345


Page 2

 
TPIO LTD
REGISTERED NUMBER: 11625638
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

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 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: 




................................................
T O'Connor
Director
Date: 9 September 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

The principal activity of TPIO Ltd is provide investment and other advice to wealthy individuals and entrepreneurs. 
The Company is a private company, limited by shares, and is incorporated in England and Wales. 
The registered office address is Stonecross, Trumpington High Street, Cambridge, CB2 9SU. 
The Company's year end was extended during the year and the accounts are presented for a 13 month period.

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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

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 5

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
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:

Office equipment
-
33%
Computer equipment
-
33%

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

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.

Page 6

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2023 - 5).

Page 7

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
-
500
500


Additions
26,306
183
26,489


Transfers intra group
8,680
11,126
19,806



At 30 April 2024

34,986
11,809
46,795



Depreciation


At 1 April 2023
-
500
500


Charge for the period on owned assets
2,866
10
2,876


Transfers intra group
8,403
9,809
18,212



At 30 April 2024

11,269
10,319
21,588



Net book value



At 30 April 2024
23,717
1,490
25,207



At 31 March 2023
-
-
-


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


Additions
150



At 30 April 2024
150






Page 8

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


Debtors

30 April
31 March
2024
2023
£
£


Trade debtors
218,782
175,506

Amounts owed by group undertakings
407,767
214,317

Other debtors
5,087
10,500

Prepayments and accrued income
23,375
-

655,011
400,323



7.


Creditors: Amounts falling due within one year

30 April
31 March
2024
2023
£
£

Bank overdrafts
168,686
3

Trade creditors
29,295
50,029

Amounts owed to joint ventures and associated undertakings
30,847
9,605

Corporation tax
208,553
121,513

Other taxation and social security
33,858
57,065

Obligations under finance lease and hire purchase contracts
6,752
-

Other creditors
131,033
45,394

Accruals and deferred income
286,592
327,058

895,616
610,667



8.


Creditors: Amounts falling due after more than one year

30 April
31 March
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
11,816
-


Page 9

 
TPIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

30 April
31 March
2024
2023
£
£


Within one year
6,752
-

Between 1-5 years
11,816
-

18,568
-


10.


Deferred taxation






2024


£






Charged to profit or loss
(4,948)



At end of year
(4,948)

The deferred taxation balance is made up as follows:

30 April
31 March
2024
2023
£
£


Accelerated capital allowances
(5,907)
-

Short term timing differences
959
-

(4,948)
-


11.


Controlling party

The parent undertaking is Stratex (Holdings) Limited, registered office address: Stonecross, Trumpington High Street, Cambridge, United Kingdom, CB2 9SU. The ultimate controlling parties are Tim Michael O'Connor and Stefano Del Federico.

 
Page 10