Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3132023-01-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13513993 2023-01-01 2023-12-31 13513993 2021-07-15 2022-12-31 13513993 2023-12-31 13513993 2022-12-31 13513993 1 2023-01-01 2023-12-31 13513993 d:Director1 2023-01-01 2023-12-31 13513993 d:Director2 2023-01-01 2023-12-31 13513993 d:Director2 2023-12-31 13513993 d:RegisteredOffice 2023-01-01 2023-12-31 13513993 c:OfficeEquipment 2023-01-01 2023-12-31 13513993 c:OfficeEquipment 2023-12-31 13513993 c:OfficeEquipment 2022-12-31 13513993 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13513993 c:ComputerEquipment 2023-01-01 2023-12-31 13513993 c:ComputerEquipment 2023-12-31 13513993 c:ComputerEquipment 2022-12-31 13513993 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13513993 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13513993 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 13513993 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 13513993 c:ComputerSoftware 2023-12-31 13513993 c:ComputerSoftware 2022-12-31 13513993 c:CurrentFinancialInstruments 2023-12-31 13513993 c:CurrentFinancialInstruments 2022-12-31 13513993 c:Non-currentFinancialInstruments 2023-12-31 13513993 c:Non-currentFinancialInstruments 2022-12-31 13513993 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 13513993 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 13513993 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 13513993 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 13513993 c:ShareCapital 2023-12-31 13513993 c:ShareCapital 2022-12-31 13513993 c:RetainedEarningsAccumulatedLosses 2023-12-31 13513993 c:RetainedEarningsAccumulatedLosses 2022-12-31 13513993 d:FRS102 2023-01-01 2023-12-31 13513993 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13513993 d:FullAccounts 2023-01-01 2023-12-31 13513993 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13513993 c:WithinOneYear 2023-12-31 13513993 c:WithinOneYear 2022-12-31 13513993 c:BetweenOneFiveYears 2023-12-31 13513993 c:BetweenOneFiveYears 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 13513993







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


TRUE NORTH MANAGEMENT LTD





































img0f67.png    
                        

 


TRUE NORTH MANAGEMENT LTD
 


 
COMPANY INFORMATION


Directors
Xiaozhou Ju 
Timothy John Munn (appointed 28 March 2024)




Registered number
13513993



Registered office
Lynton House

7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


TRUE NORTH MANAGEMENT LTD
REGISTERED NUMBER:13513993



BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,853
13,853

Tangible assets
 5 
2,346
2,448

  
16,199
16,301

Current assets
  

Debtors: amounts falling due within one year
 6 
76,140
128,424

Cash at bank and in hand
  
221,337
301,640

  
297,477
430,064

Creditors: amounts falling due within one year
 7 
(103,570)
(117,695)

Net current assets
  
 
 
193,907
 
 
312,369

Total assets less current liabilities
  
210,106
328,670

Creditors: amounts falling due after more than one year
 8 
(599,000)
(396,000)

  

Net liabilities
  
(388,894)
(67,330)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(388,994)
(67,430)

  
(388,894)
(67,330)

Page 1

 


TRUE NORTH MANAGEMENT LTD
REGISTERED NUMBER:13513993


    
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 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: 




Xiaozhou Ju
Director

Date: 24 September 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


TRUE NORTH MANAGEMENT LTD
 


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

1.


General information

True North Management Ltd is a private company, limited by shares, registered in England & Wales, company registration number 13513993. The registered office 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

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

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 


TRUE NORTH MANAGEMENT LTD
 


 
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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

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

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.

 
2.7

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 - 1).

Page 4

 


TRUE NORTH MANAGEMENT LTD
 


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

4.


Intangible assets




Development expenditure
Digital land asset
Total

£
£
£



Cost


At 1 January 2023
2,220
11,633
13,853



At 31 December 2023

2,220
11,633
13,853






Net book value



At 31 December 2023
2,220
11,633
13,853



At 31 December 2022
2,220
11,633
13,853




5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
500
2,764
3,264


Additions
-
757
757



At 31 December 2023

500
3,521
4,021



Depreciation


At 1 January 2023
125
691
816


Charge for the year on owned assets
125
734
859



At 31 December 2023

250
1,425
1,675



Net book value



At 31 December 2023
250
2,096
2,346



At 31 December 2022
375
2,073
2,448

Page 5

 


TRUE NORTH MANAGEMENT LTD
 


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

6.


Debtors

2023
2022
£
£


Trade debtors
25,491
6,000

Amounts owed by group undertakings
-
16,810

Other debtors
10,600
95,035

Prepayments and accrued income
40,049
10,579

76,140
128,424



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
63,256
27,585

Amounts owed to group undertakings
-
77,985

Other taxation and social security
21,040
6,750

Other creditors
763
-

Accruals and deferred income
18,511
5,375

103,570
117,695



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
599,000
396,000

599,000
396,000



9.


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
5,300
63,600

Later than 1 year and not later than 5 years
-
5,300

5,300
68,900

Page 6

 


TRUE NORTH MANAGEMENT LTD
 


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

10.


Post balance sheet events

After the year end 50% of the share capital was acquired by Swiss Life Holding AG. As a result the company has become part of a large group.
 
Page 7