Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity1213truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10699636 2023-01-01 2023-12-31 10699636 2023-12-31 10699636 2022-01-01 2022-12-31 10699636 2022-12-31 10699636 c:Director1 2023-01-01 2023-12-31 10699636 c:RegisteredOffice 2023-01-01 2023-12-31 10699636 d:Buildings 2023-01-01 2023-12-31 10699636 d:Buildings 2023-12-31 10699636 d:Buildings 2022-12-31 10699636 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10699636 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 10699636 d:FurnitureFittings 2023-01-01 2023-12-31 10699636 d:OfficeEquipment 2023-01-01 2023-12-31 10699636 d:OfficeEquipment 2023-12-31 10699636 d:OfficeEquipment 2022-12-31 10699636 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10699636 d:ComputerEquipment 2023-01-01 2023-12-31 10699636 d:ComputerEquipment 2023-12-31 10699636 d:ComputerEquipment 2022-12-31 10699636 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10699636 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10699636 d:CurrentFinancialInstruments 2023-12-31 10699636 d:CurrentFinancialInstruments 2022-12-31 10699636 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10699636 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10699636 d:ShareCapital 2023-12-31 10699636 d:ShareCapital 2022-12-31 10699636 d:RetainedEarningsAccumulatedLosses 2023-12-31 10699636 d:RetainedEarningsAccumulatedLosses 2022-12-31 10699636 c:FRS102 2023-01-01 2023-12-31 10699636 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10699636 c:FullAccounts 2023-01-01 2023-12-31 10699636 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10699636 d:WithinOneYear 2023-12-31 10699636 d:WithinOneYear 2022-12-31 10699636 d:BetweenOneFiveYears 2023-12-31 10699636 d:BetweenOneFiveYears 2022-12-31 10699636 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 10699636







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


TELEMOS CAPITAL LIMITED






































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TELEMOS CAPITAL LIMITED
 


 
COMPANY INFORMATION


Director
P A J Jacobs 




Registered number
10699636



Registered office
2 Park Street

London

W1K 2HX




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


TELEMOS CAPITAL LIMITED
 



CONTENTS



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


 


TELEMOS CAPITAL LIMITED
REGISTERED NUMBER:10699636



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,891,484
410,038

  
1,891,484
410,038

Current assets
  

Debtors: amounts falling due within one year
 5 
2,133,656
2,261,061

Cash at bank and in hand
  
436,905
2,687,608

  
2,570,561
4,948,669

Creditors: amounts falling due within one year
 6 
(3,624,144)
(3,688,824)

Net current (liabilities)/assets
  
 
 
(1,053,583)
 
 
1,259,845

Total assets less current liabilities
  
837,901
1,669,883

Provisions for liabilities
  

Deferred tax
  
(344,209)
(49,427)

  
 
 
(344,209)
 
 
(49,427)

Net assets
  
493,692
1,620,456


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
443,692
1,570,456

  
493,692
1,620,456


Page 1

 


TELEMOS CAPITAL LIMITED
REGISTERED NUMBER:10699636


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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: 


................................................
P A J Jacobs
Director

Date: 16 September 2024

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

Page 2

 


TELEMOS CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Telemos Capital Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the registered office and principal place of business is disclosed on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. 

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

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 consists of fees for the services provided to another related entity and is calculated on the basis of terms agreed in advance.

 
2.4

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

 
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.

Page 3

 


TELEMOS CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year 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.
Page 4

 


TELEMOS CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

Depreciation is provided on the following basis:

Leasehold improvments
-
straight line over 5 years
Fixtures and fittings
-
straight line over 5 years
Computer equipment
-
reducing balance at 20% per annum

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.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

Financial instruments

The Company only enters into basic 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, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 13).

Page 5

 


TELEMOS CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold property
Fixtures & Fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
514,498
156,145
24,142
694,785


Additions
1,570,963
125,730
67,579
1,764,272


Disposals
(214,436)
(89,496)
(18,040)
(321,972)



At 31 December 2023

1,871,025
192,379
73,681
2,137,085



Depreciation


At 1 January 2023
194,908
80,658
9,181
284,747


Charge for the year on owned assets
216,606
28,528
8,912
254,046


Disposals
(200,053)
(83,452)
(9,687)
(293,192)



At 31 December 2023

211,461
25,734
8,406
245,601



Net book value



At 31 December 2023
1,659,564
166,645
65,275
1,891,484



At 31 December 2022
319,590
75,487
14,961
410,038


5.


Debtors

2023
2022
£
£


Trade debtors
1,442,231
1,476,850

Other debtors
378,100
565,167

Called up share capital not paid
50,000
50,000

Prepayments and accrued income
263,325
169,044

2,133,656
2,261,061


Page 6

 


TELEMOS CAPITAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
191,415
83,419

Corporation tax
-
173,420

Other taxation and social security
259,349
88,251

Other creditors
155,740
44,924

Accruals and deferred income
3,017,640
3,298,810

3,624,144
3,688,824



7.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
389,724
58,127

Later than 1 year and not later than 5 years
2,179,423
6,320

2,569,147
64,447


8.


Related party transactions

The Company has taken advantage of the exemption available under FRS 102 not to disclose transactions with wholly owned members of the group headed by the Company's parent entity.

 
Page 7