Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.1176971855135The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseHolding Company33truetruefalse 09778139 2023-01-01 2023-12-31 09778139 2022-01-01 2022-12-31 09778139 2023-12-31 09778139 2022-12-31 09778139 c:Director1 2023-01-01 2023-12-31 09778139 c:Director2 2023-01-01 2023-12-31 09778139 c:Director3 2023-01-01 2023-12-31 09778139 c:RegisteredOffice 2023-01-01 2023-12-31 09778139 d:FurnitureFittings 2023-01-01 2023-12-31 09778139 d:FurnitureFittings 2023-12-31 09778139 d:FurnitureFittings 2022-12-31 09778139 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09778139 d:OfficeEquipment 2023-01-01 2023-12-31 09778139 d:OfficeEquipment 2023-12-31 09778139 d:OfficeEquipment 2022-12-31 09778139 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09778139 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09778139 d:CurrentFinancialInstruments 2023-12-31 09778139 d:CurrentFinancialInstruments 2022-12-31 09778139 d:Non-currentFinancialInstruments 2023-12-31 09778139 d:Non-currentFinancialInstruments 2022-12-31 09778139 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09778139 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09778139 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09778139 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09778139 d:ShareCapital 2023-12-31 09778139 d:ShareCapital 2022-12-31 09778139 d:SharePremium 2023-12-31 09778139 d:SharePremium 2022-12-31 09778139 d:RetainedEarningsAccumulatedLosses 2023-12-31 09778139 d:RetainedEarningsAccumulatedLosses 2022-12-31 09778139 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09778139 c:OrdinaryShareClass1 2023-12-31 09778139 c:FRS102 2023-01-01 2023-12-31 09778139 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09778139 c:FullAccounts 2023-01-01 2023-12-31 09778139 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09778139 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 09778139 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 09778139 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 09778139 d:UltimateParent 2023-01-01 2023-12-31 09778139 2 2023-01-01 2023-12-31 09778139 6 2023-01-01 2023-12-31 09778139 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09778139










THE TEC RECRUITMENT GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
C Beech 
L Howard 
P Kitley 




Registered number
09778139



Registered office
Office 5.3 Fuel Studios
Kiln House

Pottergate

Norwich

NR2 1DX




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
THE TEC RECRUITMENT GROUP LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8


 
THE TEC RECRUITMENT GROUP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE TEC RECRUITMENT GROUP LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The TEC Recruitment Group Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of directors of The TEC Recruitment Group Limited, as a body, in accordance with the terms of our engagement letter dated 17 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of The TEC Recruitment Group Limited and state those matters that we have agreed to state to the Board of directors of The TEC Recruitment Group Limited, 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 The TEC Recruitment Group Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that The TEC Recruitment Group Limited 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 The TEC Recruitment Group Limited. You consider that The TEC Recruitment Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The TEC Recruitment Group Limited. 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

16 September 2024
Page 1

 
THE TEC RECRUITMENT GROUP LIMITED
REGISTERED NUMBER: 09778139

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,818
2,410

Investments
 5 
3,730,751
3,730,751

  
3,732,569
3,733,161

Current assets
  

Debtors
  
12,347
18,981

Cash at bank and in hand
  
-
475

  
12,347
19,456

Creditors: amounts falling due within one year
 6 
(2,322,565)
(2,722,152)

Net current liabilities
  
 
 
(2,310,218)
 
 
(2,702,696)

Total assets less current liabilities
  
1,422,351
1,030,465

Creditors: amounts falling due after more than one year
 7 
(866,601)
(985,319)

Provisions for liabilities
  

Deferred tax
  
(455)
(458)

Net assets
  
555,295
44,688


Capital and reserves
  

Called up share capital 
 8 
75
75

Share premium account
  
52,485
52,485

Profit and loss account
  
502,735
(7,872)

  
555,295
44,688


Page 2

 
THE TEC RECRUITMENT GROUP LIMITED
REGISTERED NUMBER: 09778139
    
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 year 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 on 16 September 2024.






P Kitley
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The TEC Recruitment Group Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The registered office, and principal place of business is Office 5.3 Fuel Studios, Kiln Lane, Pottergate, NR2 1DX.
The Company's principal activity is a holding company.

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

The directors have considered a period of twelve months from the date of approval of the financial statements.  They consider that projected income together with current cash reserves will be more than adequate for the company's needs.  As such they believe that the financial statements should be prepared on the going concern basis.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.6

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 balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

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.

Page 5

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to
be paid or received.

 
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 year was 3 (2022 - 3).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
786
16,225
17,011



At 31 December 2023

786
16,225
17,011



Depreciation


At 1 January 2023
578
14,023
14,601


Charge for the year on owned assets
41
551
592



At 31 December 2023

619
14,574
15,193



Net book value



At 31 December 2023
167
1,651
1,818



At 31 December 2022
208
2,202
2,410

Page 6

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023 and 31 December 2023
3,730,751





6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,169,364
2,469,772

Other creditors
150,551
250,000

Accruals and deferred income
2,650
2,380

2,322,565
2,722,152



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
866,601
985,319

866,601
985,319


Page 7

 
THE TEC RECRUITMENT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



75 Ordinary shares of £1.00 each
75
75



9.


Transactions with directors

As at 1 January 2023 the balance owed to the Company by one of the directors was £5,977
During the year the director made net repayments of 
£2,226 to the Company.
As at the 31 December 2023 the balance owed to the Company by the director was 
£3,751. Interest has been charged at 2.0% and 2.25%. The loan is included within other debtors in note 8 to the financial statements.
As at 1 January 2023 the balance owed to the Company by one of the directors was 
£3,925
During the year the director made net repayments of 
£2,541 to the Company.
As at the 31 December 2023 the balance owed to the Company by the director was 
£1,384. Interest has been charged at 2.0% and 2.25%. The loan is included within other debtors in note 7 to the financial statements.
As at 1 January 2023 the balance owed to the Company by one of the directors was 
£1,867
During the year the director made net repayments of 
£2,418 to the Company. 
As at the 31 December 2023 the balance owed to the director by the Company was 
£551. Interest has been charged at 2.0% and 2.25%. The loan is included within other creditors in note 8 to the financial statements.

 
Page 8