Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-04-01false4falseThe principal activity of the company is direct mail, fulfilment, laser printing and data processing, marketing support, and storage.4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01745582 2023-04-01 2024-03-31 01745582 2022-04-01 2023-03-31 01745582 2024-03-31 01745582 2023-03-31 01745582 c:Director2 2023-04-01 2024-03-31 01745582 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 01745582 d:Buildings d:ShortLeaseholdAssets 2024-03-31 01745582 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01745582 d:PlantMachinery 2023-04-01 2024-03-31 01745582 d:PlantMachinery 2024-03-31 01745582 d:PlantMachinery 2023-03-31 01745582 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01745582 d:OfficeEquipment 2023-04-01 2024-03-31 01745582 d:OfficeEquipment 2024-03-31 01745582 d:OfficeEquipment 2023-03-31 01745582 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01745582 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01745582 d:CurrentFinancialInstruments 2024-03-31 01745582 d:CurrentFinancialInstruments 2023-03-31 01745582 d:Non-currentFinancialInstruments 2024-03-31 01745582 d:Non-currentFinancialInstruments 2023-03-31 01745582 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01745582 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01745582 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01745582 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01745582 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 01745582 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 01745582 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 01745582 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01745582 d:ShareCapital 2024-03-31 01745582 d:ShareCapital 2023-03-31 01745582 d:CapitalRedemptionReserve 2024-03-31 01745582 d:CapitalRedemptionReserve 2023-03-31 01745582 d:RetainedEarningsAccumulatedLosses 2024-03-31 01745582 d:RetainedEarningsAccumulatedLosses 2023-03-31 01745582 c:FRS102 2023-04-01 2024-03-31 01745582 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01745582 c:FullAccounts 2023-04-01 2024-03-31 01745582 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01745582 d:WithinOneYear 2024-03-31 01745582 d:WithinOneYear 2023-03-31 01745582 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01745582 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01745582 2 2023-04-01 2024-03-31 01745582 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01745582










Total Direct Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2024

 
Total Direct Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Total Direct Limited for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Total Direct Limited for the year ended 31 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Total Direct Limited, as a body, in accordance with the terms of our engagement letter dated 17 July 2023Our work has been undertaken solely to prepare for your approval the financial statements of Total Direct Limited and state those matters that we have agreed to state to the Board of Directors of Total Direct Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Total Direct Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Total Direct Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Total Direct Limited. You consider that Total Direct Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Total Direct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
3 November 2024
Page 1

 
Total Direct Limited
Registered number: 01745582

Balance Sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,733
29,275

  
35,733
29,275

Current assets
  

Stocks
  
-
218

Debtors
 5 
220,394
303,843

Cash at bank and in hand
  
205,396
170,066

  
425,790
474,127

Creditors: amounts falling due within one year
 6 
(254,293)
(304,467)

Net current assets
  
 
 
171,497
 
 
169,660

Total assets less current liabilities
  
207,230
198,935

Creditors: amounts falling due after more than one year
 7 
(15,000)
(25,000)

Provisions for liabilities
  

Deferred tax
 9 
(8,933)
(7,319)

Other provisions
  
-
(2,439)

  
 
 
(8,933)
 
 
(9,758)

Net assets
  
183,297
164,177


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Capital redemption reserve
  
5,000
5,000

Profit and loss account
  
173,297
154,177

  
183,297
164,177

Page 2

 
Total Direct Limited
Registered number: 01745582

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 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: 




................................................
R Earl
Director
Date: 1 November 2024

The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
Total Direct Limited
 

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

1.


General information

Total Direct Limited is a private company, limited by share capital, and incorporated in England and Wales. The registered office is Unit B, Enterprise House, Waldeck Road, Maidenhead, Berkshire, SL6 8BR. 
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £1.

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

Revenue

Revenue from the sale of goods is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer, the amount of revenue can be measured reliably, the costs incurred or to be incurred in respect of the transaction can be measured reliably, and it is probable that the Company will receive the consideration due under the transaction. 
Revenue from services provided is recognised in the period in which the service is provided, the amount of revenue can be measured reliably, and it is probable that the Company will receive the consideration due under the transaction. 
Revenue from the sale of both goods and services is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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.

Page 4

 
Total Direct Limited
 

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

2.Accounting policies (continued)

 
2.6

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.


 
2.7

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:

Leasehold Improvements
-
evenly across the remaining length of the lease
Plant and machinery
-
20%
reducing balance
Office equipment
-
40%
reducing balance

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.

Page 5

 
Total Direct Limited
 

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

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.10

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.

  
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recogition of financial assets and liabilities and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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.

 
2.13

Hire purchase and leasing

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
Total Direct Limited
 

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

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
23,671
24,601
11,048
59,320


Additions
-
7,500
1,083
8,583


Disposals
-
(1,450)
(4,395)
(5,845)



At 31 March 2024

23,671
30,651
7,736
62,058



Depreciation


At 1 April 2023
-
19,837
10,208
30,045


Charge for the year on owned assets
-
1,078
589
1,667


Disposals
-
(1,028)
(4,359)
(5,387)



At 31 March 2024

-
19,887
6,438
26,325



Net book value



At 31 March 2024
23,671
10,764
1,298
35,733



At 31 March 2023
23,671
4,764
840
29,275


5.


Debtors

2024
2023
£
£



Trade debtors
79,791
172,860

Amounts owed by group undertakings
90,700
90,700

Other debtors
14,354
7,125

Prepayments and accrued income
35,549
33,158

220,394
303,843


Included within other debtors due within one year is a loan to Richard Earl, a Director, amounting to £1,229 (2023 - £20,514amount owed to the director). No interest was charged on the loan and the loan is repayable on demand. The loan has been repaid post year end following the declaration of a dividend. 

Page 7

 
Total Direct Limited
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
64,577
66,293

Amounts owed to group undertakings
141,471
141,471

Corporation tax
11,402
14,709

Other taxation and social security
14,240
19,779

Other creditors
864
23,684

Accruals and deferred income
11,739
28,531

254,293
304,467



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,000
25,000



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,000
15,000


5,000
15,000


25,000
35,000

Page 8

 
Total Direct Limited
 

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

9.


Deferred taxation




2024


£






At beginning of year
(7,319)


Charged to profit or loss
(1,614)



At end of year
(8,933)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(8,933)
(7,319)


10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £2,945 (2023: £2,949). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the balance sheet date.


11.


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
-
25,767

-
25,767


12.


Related party transactions

Total Direct Holdings Limited
(Parent Company)
During the year the Company declared dividends of £31,500 (2023: £47,225) to Total Direct Holdings Limited and continued to provide a loan. The loan is interest free and repayable on demand. At the balance sheet date the amount due from Total Direct Holdings Limited was £90,700 (2023: £90,700).
Total Direct Marketing Services Limited
(Ultimate Parent Company)
During the year Total Direct Marketing Services Limited provided an interest free loan, which is repayable on demand, to the Company. At the balance sheet date the amount due to Total Direct Marketing Services Limited was £141,471 (2023: £141,471).

Page 9

 
Total Direct Limited
 

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

13.


Controlling party

The Company is controlled by Total Direct Holdings Limited. The ultimate controlling party are the directors of Total Direct Marketing Services Limited, which is the ultimate parent company of the group.

Page 10