Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02329705 2023-04-01 2024-03-31 02329705 2022-04-01 2023-03-31 02329705 2024-03-31 02329705 2023-03-31 02329705 c:Director2 2023-04-01 2024-03-31 02329705 d:FurnitureFittings 2023-04-01 2024-03-31 02329705 d:FurnitureFittings 2024-03-31 02329705 d:FurnitureFittings 2023-03-31 02329705 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02329705 d:CurrentFinancialInstruments 2024-03-31 02329705 d:CurrentFinancialInstruments 2023-03-31 02329705 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02329705 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02329705 d:ShareCapital 2024-03-31 02329705 d:ShareCapital 2023-03-31 02329705 d:RevaluationReserve 2023-04-01 2024-03-31 02329705 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02329705 d:RetainedEarningsAccumulatedLosses 2024-03-31 02329705 d:RetainedEarningsAccumulatedLosses 2023-03-31 02329705 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 02329705 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 02329705 c:OrdinaryShareClass1 2023-04-01 2024-03-31 02329705 c:OrdinaryShareClass1 2024-03-31 02329705 c:OrdinaryShareClass1 2023-03-31 02329705 c:FRS102 2023-04-01 2024-03-31 02329705 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02329705 c:FullAccounts 2023-04-01 2024-03-31 02329705 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02329705 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 02329705 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 02329705 d:WithinOneYear 2024-03-31 02329705 d:WithinOneYear 2023-03-31 02329705 d:BetweenOneFiveYears 2024-03-31 02329705 d:BetweenOneFiveYears 2023-03-31 02329705 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 02329705 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02329705 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 02329705 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 02329705 d:OtherDeferredTax 2024-03-31 02329705 d:OtherDeferredTax 2023-03-31 02329705 2 2023-04-01 2024-03-31 02329705 6 2023-04-01 2024-03-31 02329705 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02329705









MICHAEL TESTLER PROPERTY SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024
 


 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 02329705

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,880
2,635

Investments
 5 
1,429,826
1,293,805

  
1,439,706
1,296,440

Current assets
  

Debtors: amounts falling due within one year
 6 
48,643
30,190

Cash at bank and in hand
  
287,080
366,799

  
335,723
396,989

Creditors: amounts falling due within one year
 7 
(212,235)
(217,620)

Net current assets
  
 
 
123,488
 
 
179,369

Total assets less current liabilities
  
1,563,194
1,475,809

Provisions for liabilities
  

Deferred tax
 8 
(56,939)
(47,845)

Other provisions
  
(3,432)
-

  
 
 
(60,371)
 
 
(47,845)

Net assets
  
1,502,823
1,427,964


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
1,502,723
1,427,864

  
1,502,823
1,427,964


Page 1

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 02329705

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 by: 




R. S. Testler
Director

Date: 21 October 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares and incorporated in England & Wales. The company is not part of a group. The company registered number is 02329705. The registered office is Causeway House, 1 Dane Street, Bishop's Stortford, CM23 3BT. The trading address is 64 Highgate High Street, Highgate, London, N6 5HX.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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

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

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
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:

Fixtures and fittings
-
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.

 
2.4

Valuation of investments

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.

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.

 
2.5

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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 4

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Interest income

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

 
2.10

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.

 
2.11

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.


3.


Employees

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






Page 6

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2023
33,615


Additions
9,499


Disposals
(18,767)



At 31 March 2024

24,347



Depreciation


At 1 April 2023
30,980


Charge for the year on owned assets
2,254


Disposals
(18,767)



At 31 March 2024

14,467



Net book value



At 31 March 2024
9,880



At 31 March 2023
2,635


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
1,293,805


Additions
416,662


Disposals
(310,314)


Revaluations
29,673



At 31 March 2024
1,429,826




Page 7

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
34,189
72

Other debtors
4,373
10,576

Prepayments and accrued income
10,081
19,542

48,643
30,190



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,064
664

Corporation tax
24,796
-

Other taxation and social security
14,323
34,694

Other creditors
159,051
169,662

Accruals and deferred income
13,001
12,600

212,235
217,620



8.


Deferred taxation




2024


£






At beginning of year
(47,845)


Charged to profit or loss
(9,094)



At end of year
(56,939)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation surplus
(76,561)
(56,346)

Accelerated capital allowances
(1,485)
-

Capital losses
21,107
8,501

(56,939)
(47,845)

Page 8

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Provisions




Dilapidation provision

£





Charged to profit or loss
3,432



At 31 March 2024
3,432


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



11.


Reserves

Revaluation reserve

The revaluation reserves represents fair value gains on fixed asset investments, less deferred tax.

Profit and loss account

The profit and loss account represents cumulative profit and losses net of dividends and other adjustments.


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
26,000
26,000

Later than 1 year and not later than 5 years
44,521
70,521

70,521
96,521

Page 9

 
MICHAEL TESTLER PROPERTY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

During the year the Company operated a loan account with the directors. Included within other creditors is an amount owed of £27,789 (2023 - £169,778). This is repayable on demand and no interest has been charged.
During the year the Company operated a loan account with a shareholder. The amount due to the shareholder at the year end and within other creditors is £131,262 (2023 - £Nil). This is repayable on demand and no interest has been charged.







Page 10