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REGISTERED NUMBER: 05063700 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

3tc Software Limited

3tc Software Limited (Registered number: 05063700)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


3tc Software Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D B Todd
J S Clough





REGISTERED OFFICE: Office 8 The Coach House
Desford Hall
Leicester Lane
Desford
Leicestershire
LE9 9JJ





REGISTERED NUMBER: 05063700 (England and Wales)





AUDITORS: Charnwood Accountants & Business Advisors LLP
Statutory Auditor
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

3tc Software Limited (Registered number: 05063700)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 99,861 65,534
99,861 65,534

CURRENT ASSETS
Debtors 6 1,642,831 1,016,425
Cash at bank 5,617,604 5,078,842
7,260,435 6,095,267
CREDITORS
Amounts falling due within one year 7 4,286,896 3,158,154
NET CURRENT ASSETS 2,973,539 2,937,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,073,400

3,002,647

PROVISIONS FOR LIABILITIES 169,431 110,195
NET ASSETS 2,903,969 2,892,452

CAPITAL AND RESERVES
Called up share capital 8 79,073 79,073
Share premium 543,878 543,878
Capital redemption reserve 20,927 20,927
Retained earnings 2,260,091 2,248,574
SHAREHOLDERS' FUNDS 2,903,969 2,892,452

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





D B Todd - Director


3tc Software Limited (Registered number: 05063700)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

3tc Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3tc Software Limited (Registered number: 05063700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,116,863 10,000 1,126,863
AMORTISATION
At 1 April 2023
and 31 March 2024 1,116,863 10,000 1,126,863
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

Amortisation is included in administration expenses in the Statement of income and retained earnings.

3tc Software Limited (Registered number: 05063700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 63,331 623,714 687,045
Additions - 90,594 90,594
Disposals - (1,267 ) (1,267 )
At 31 March 2024 63,331 713,041 776,372
DEPRECIATION
At 1 April 2023 59,408 562,103 621,511
Charge for year 872 54,339 55,211
Eliminated on disposal - (211 ) (211 )
At 31 March 2024 60,280 616,231 676,511
NET BOOK VALUE
At 31 March 2024 3,051 96,810 99,861
At 31 March 2023 3,923 61,611 65,534

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,175,986 565,516
Amounts recoverable on contract 238,551 199,821
Other debtors 228,294 251,088
1,642,831 1,016,425

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 124,388 24,502
Amounts owed to group undertakings 2,195,097 1,322,373
Taxation and social security 402,203 254,146
Other creditors 1,565,208 1,557,133
4,286,896 3,158,154

3tc Software Limited (Registered number: 05063700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50,989 Ordinary A £1 50,989 50,989
28,084 Ordinary B £1 28,084 28,084
79,073 79,073

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher David Hutton FCCA (Senior Statutory Auditor)
for and on behalf of Charnwood Accountants & Business Advisors LLP

10. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking and controlling related party of this company is its parent 3tc Holdings Limited which is incorporated in England. It is not required to produce consolidated financial statements.