Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-15false2023-01-01No description of principal activity61truetrue 01998568 2023-01-01 2023-12-31 01998568 2022-01-01 2022-12-31 01998568 2023-12-31 01998568 2022-12-31 01998568 2022-01-01 01998568 5 2023-01-01 2023-12-31 01998568 5 2022-01-01 2022-12-31 01998568 d:Director1 2023-01-01 2023-12-31 01998568 d:Director1 2023-12-31 01998568 d:Director2 2023-01-01 2023-12-31 01998568 d:Director2 2023-12-31 01998568 d:Director3 2023-01-01 2023-12-31 01998568 d:Director3 2023-12-31 01998568 d:RegisteredOffice 2023-01-01 2023-12-31 01998568 d:Agent1 2023-01-01 2023-12-31 01998568 e:MotorVehicles 2023-01-01 2023-12-31 01998568 e:MotorVehicles 2023-12-31 01998568 e:MotorVehicles 2022-12-31 01998568 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01998568 e:FurnitureFittings 2023-01-01 2023-12-31 01998568 e:FurnitureFittings 2023-12-31 01998568 e:FurnitureFittings 2022-12-31 01998568 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01998568 e:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01998568 e:OtherPropertyPlantEquipment 2023-12-31 01998568 e:OtherPropertyPlantEquipment 2022-12-31 01998568 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01998568 e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01998568 e:CurrentFinancialInstruments 2023-12-31 01998568 e:CurrentFinancialInstruments 2022-12-31 01998568 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 01998568 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 01998568 e:ShareCapital 2023-01-01 2023-12-31 01998568 e:ShareCapital 2023-12-31 01998568 e:ShareCapital 2022-01-01 2022-12-31 01998568 e:ShareCapital 2022-12-31 01998568 e:ShareCapital 2022-01-01 01998568 e:RevaluationReserve 2023-01-01 2023-12-31 01998568 e:RevaluationReserve 2023-12-31 01998568 e:RevaluationReserve 5 2023-01-01 2023-12-31 01998568 e:RevaluationReserve 2022-01-01 2022-12-31 01998568 e:RevaluationReserve 2022-12-31 01998568 e:RevaluationReserve 2022-01-01 01998568 e:RevaluationReserve 5 2022-01-01 2022-12-31 01998568 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01998568 e:RetainedEarningsAccumulatedLosses 2023-12-31 01998568 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 01998568 e:RetainedEarningsAccumulatedLosses 2022-12-31 01998568 e:RetainedEarningsAccumulatedLosses 2022-01-01 01998568 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01998568 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01998568 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01998568 e:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01998568 e:OtherDeferredTax 2023-12-31 01998568 e:OtherDeferredTax 2022-12-31 01998568 d:OrdinaryShareClass1 2023-01-01 2023-12-31 01998568 d:OrdinaryShareClass1 2023-12-31 01998568 d:OrdinaryShareClass1 2022-12-31 01998568 d:FRS102 2023-01-01 2023-12-31 01998568 d:Audited 2023-01-01 2023-12-31 01998568 d:FullAccounts 2023-01-01 2023-12-31 01998568 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01998568 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01998568 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01998568










T.G. Claymore (UK) Limited










Financial statements

Information for filing with the registrar

For the year ended 31 December 2023



 
T.G. Claymore (UK) Limited
 

Company Information


Directors
S Dunn (resigned 15 May 2023)
N J B Fielding (appointed 28 April 2023)
Mrs S H F W Fielding (appointed 5 July 2023)




Registered number
01998568



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Independent auditors
Kreston Reeves LLP
Chartered Accountants & Statutory Auditor

37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Bankers
HSBC Bank Plc
75 High Street

Sutton

Surrey

SM1 1DU





 
T.G. Claymore (UK) Limited
 

Contents



Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9


 
T.G. Claymore (UK) Limited
Registered number: 01998568

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible Fixed Assets
 5 
33,073
33,697

Fixed Asset Investments
 6 
3,558,504
4,207,560

  
3,591,577
4,241,257

Current assets
  

Debtors: amounts falling due within one year
 7 
166,235
274,669

Cash at bank and in hand
  
165,476
401

  
331,711
275,070

Creditors: amounts falling due within one year
 8 
(245,522)
(292,207)

Net current assets/(liabilities)
  
 
 
86,189
 
 
(17,137)

Total assets less current liabilities
  
3,677,766
4,224,120

Provisions for liabilities
  

Deferred tax
 9 
(366,675)
(503,498)

  
 
 
(366,675)
 
 
(503,498)

Net assets
  
3,311,091
3,720,622


Capital and reserves
  

Called up share capital 
 10 
2,100,000
2,100,000

Revaluation reserve
  
1,104,945
1,645,114

Profit and loss account
  
106,146
(24,492)

  
3,311,091
3,720,622


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 comprehensive income 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 2 October 2024.



N J B Fielding
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
T.G. Claymore (UK) Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
2,100,000
2,470,714
(209,363)
4,361,351


Comprehensive income for the year

Loss for the year
-
-
(729)
(729)

Surplus on revaluation of freehold property
-
(825,600)
825,600
-
Total comprehensive income for the year
-
(825,600)
824,871
(729)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(640,000)
(640,000)



At 1 January 2023
2,100,000
1,645,114
(24,492)
3,720,622


Comprehensive income for the year

Loss for the year
-
-
(24,531)
(24,531)

Revaluation movement of investment property
-
(540,169)
540,169
-
Total comprehensive income for the year
-
(540,169)
515,638
(24,531)

Dividends: Equity capital
-
-
(385,000)
(385,000)


At 31 December 2023
2,100,000
1,104,945
106,146
3,311,091


The notes on pages 3 to 9 form part of these financial statements.

Called up share capital
This represents the nominal value of shares that have been issued by the company.
Revaluation reserve
To assist with the identification of profits available for distribution this reserve represents changes in the fair value of the company's investment properties to the extent that they are not considered to be distributable to the company's shareholders, less any related provision for deferred tax.
Profit and loss account
This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders. 

Page 2

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

T G Claymore (UK) Limited is a private company limited by shares which was incorporated in England and Wales with company number 01998568. Please refer to the director's report for the principal activity of the company.
The company's registered office is 37 St. Margaret's Street, Canterbury, Kent, CT1 2TU.
The financial statements have been presented in Pound Sterling, and rounded to the nearest pound.

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

Going concern

The accounts have been prepared on the going concern basis. In considering the appropriateness of this the directors have taken into account anticipated future activity and financial projections available.

 
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 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.

 
2.4

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 3

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.4
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:

Motor vehicles
-
25%
Straight line
Fixtures and fittings
-
10%
Straight line
Other fixed assets
-
25%
Straight line

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

  
2.8

Investment property

Investment property is carried at fair value determined annually by the director. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Page 4

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pounds Sterling.

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. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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

 
2.10

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.

 
2.11

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.

Page 5

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.12

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 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 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 balance sheet date.

 
2.13

Valuation of investments

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

 
2.14

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires the Directors to make judgments, estimates and
assumptions that can affect the amounts reported for assets and liabilities, and the results for the year.
The nature of estimation is such though that actual outcomes could differ significantly from those
estimates.
The following judgment has had the most significant impact on amounts recognised in the financial
statements:
Investment properties
The company holds investment property with fair value of £1,848,499 at the year end (see note 7). In order to determine the fair value of investment property the directors have used a valuation technique based on comparable market data. The determined fair value of the investment property is most sensitive to fluctuations in the property market.

Page 6

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 1).


5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 January 2023
35,520
24,517
118,149
178,186



At 31 December 2023

35,520
24,517
118,149
178,186



Depreciation


At 1 January 2023
33,644
24,516
86,328
144,488


Charge for the year on owned assets
625
-
-
625



At 31 December 2023

34,269
24,516
86,328
145,113



Net book value



At 31 December 2023
1,251
1
31,821
33,073



At 31 December 2022
1,876
-
31,821
33,697


6.


Fixed asset investments





Listed investments
Freehold investment properties
Corporate loans
Total

£
£
£
£



Cost or valuation


At 1 January 2023
-
2,455,000
1,752,560
4,207,560


Additions
248,973
-
-
248,973


Disposals
(9,800)
(600,000)
(276,331)
(886,131)


Revaluations
(5,397)
(6,501)
-
(11,898)



At 31 December 2023
233,776
1,848,499
1,476,229
3,558,504




Page 7

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
27,995

Amounts owed by group undertakings
611
100,622

Other debtors
159,378
142,365

Prepayments and accrued income
6,246
3,687

166,235
274,669



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,859
438

Trade creditors
44,564
156,996

Amounts owed to group undertakings
9,947
26,404

Corporation tax
74,206
-

Other taxation and social security
3,090
535

Other creditors
23
-

Accruals and deferred income
107,833
107,834

245,522
292,207



9.


Deferred taxation




2023


£






At beginning of year
(503,498)


Charged to profit or loss
136,823



At end of year
(366,675)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,046)
(6,046)

Future gains on investment properties
(266,503)
(403,326)

Change in tax rate
(94,126)
(94,126)

(366,675)
(503,498)

Page 8

 
T.G. Claymore (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,100,000 (2022 - 2,100,000) Ordinary shares of £1.00 each
2,100,000
2,100,000



11.


Related party transactions

Baltic Professional Investments Limited, an entity under common control, obtained an interest free loan facility from T.G. Claymore (UK) Limited. This loan was novated from T G Consultants Limited, an entity also under common control, during the year. The balance that stood on this loan at 31 December 2023 was £1,476,229 (2022 £1,752,560).
At the balance sheet date the company was owed a sum of £154,378 by a company director (2022: £131,321). This loan was settled in full within nine months of the year end.


12.


Controlling party

The company is controlled by N J B Fielding by virtue of his majority shareholding.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 2 October 2024 by Robert Sellers FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.

Page 9