Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02941575 2023-02-01 2024-01-31 02941575 2022-02-01 2023-01-31 02941575 2024-01-31 02941575 2023-01-31 02941575 c:Director1 2023-02-01 2024-01-31 02941575 d:Buildings 2023-02-01 2024-01-31 02941575 d:Buildings 2024-01-31 02941575 d:Buildings 2023-01-31 02941575 d:CurrentFinancialInstruments 2024-01-31 02941575 d:CurrentFinancialInstruments 2023-01-31 02941575 d:Non-currentFinancialInstruments 2024-01-31 02941575 d:Non-currentFinancialInstruments 2023-01-31 02941575 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 02941575 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02941575 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 02941575 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 02941575 d:ShareCapital 2024-01-31 02941575 d:ShareCapital 2023-01-31 02941575 d:RevaluationReserve 2024-01-31 02941575 d:RevaluationReserve 2023-01-31 02941575 d:RetainedEarningsAccumulatedLosses 2024-01-31 02941575 d:RetainedEarningsAccumulatedLosses 2023-01-31 02941575 c:OrdinaryShareClass1 2023-02-01 2024-01-31 02941575 c:OrdinaryShareClass1 2024-01-31 02941575 c:OrdinaryShareClass1 2023-01-31 02941575 c:FRS102 2023-02-01 2024-01-31 02941575 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 02941575 c:FullAccounts 2023-02-01 2024-01-31 02941575 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02941575 d:OtherDeferredTax 2024-01-31 02941575 d:OtherDeferredTax 2023-01-31 02941575 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02941575









TEALEAF LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
TEALEAF LIMITED
REGISTERED NUMBER: 02941575

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,240,000
3,000,000

  
2,240,000
3,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
33,139
151,676

  
33,139
151,676

Creditors: amounts falling due within one year
 6 
(53,225)
(44,599)

Net current (liabilities)/assets
  
 
 
(20,086)
 
 
107,077

Total assets less current liabilities
  
2,219,914
3,107,077

Creditors: amounts falling due after more than one year
 7 
(269,319)
(469,318)

Provisions for liabilities
  

Deferred tax
 8 
(120,350)
(234,000)

  
 
 
(120,350)
 
 
(234,000)

Net assets
  
1,830,245
2,403,759


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
1,219,650
2,100,000

Profit and loss account
  
610,495
303,659

  
1,830,245
2,403,759


Page 1

 
TEALEAF LIMITED
REGISTERED NUMBER: 02941575
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 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 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 by: 




L M Cheung
Director

Date: 13 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Tealeaf Limited is a private company, limited by shares, registered in Engand and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the 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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and represents rental income, management fees and service charges receivable.

Page 3

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

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.

 
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:

Freehold property
-
not provided

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.

It is group policy not to provide depreciation on freehold premises. The premises are maintained to a high standard and the directors consider that the lives of the premises are so long and their residual value so great that depreciation is not necessary.

Page 4

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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

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.


3.


Employees and directors

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 February 2023
3,000,000


Revaluations
(760,000)



At 31 January 2024

2,240,000






Net book value



At 31 January 2024
2,240,000



At 31 January 2023
3,000,000

Freehold land and buildings were valued on an open market basis on 4 March 2024 by Lester Harrison & Partners, Chartered Surveyors.  Those valuations are still considered appropriate by the Directors and incorporated in these accounts.

Cost or valuation at 31 January 2024 is as follows:

Freehold property
        £

Cost

900,000

Valuation in 2001

800,000

Valuation in 2008

500,000

Valuation in 2013

200,000

Valuation in 2016

600,000

Valuation in 2024

(760,000)


2,240,000


Page 6

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors: Amounts falling due within one year

2024
2023
£
£


Amounts owed by group undertakings
33,139
151,676

33,139
151,676



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
22,339
11,828

Other taxation and social security
3,302
4,335

Accruals and deferred income
27,584
28,436

53,225
44,599



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
200,000
400,000

Other creditors
69,319
69,318

269,319
469,318


Page 7

 
TEALEAF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Deferred taxation




2024


£






At beginning of year
(234,000)


Charged to other comprehensive income
113,650



At end of year
(120,350)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation reserve
(120,350)
(234,000)

(120,350)
(234,000)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 8