Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01falseNo description of principal activity4838truefalse 07452455 2023-04-01 2024-03-31 07452455 2022-04-01 2023-03-31 07452455 2024-03-31 07452455 2023-03-31 07452455 c:Director2 2023-04-01 2024-03-31 07452455 c:Director3 2023-04-01 2024-03-31 07452455 d:MotorVehicles 2023-04-01 2024-03-31 07452455 d:MotorVehicles 2024-03-31 07452455 d:MotorVehicles 2023-03-31 07452455 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07452455 d:FurnitureFittings 2023-04-01 2024-03-31 07452455 d:FurnitureFittings 2024-03-31 07452455 d:FurnitureFittings 2023-03-31 07452455 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07452455 d:OfficeEquipment 2023-04-01 2024-03-31 07452455 d:OfficeEquipment 2024-03-31 07452455 d:OfficeEquipment 2023-03-31 07452455 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07452455 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07452455 d:CurrentFinancialInstruments 2024-03-31 07452455 d:CurrentFinancialInstruments 2023-03-31 07452455 d:Non-currentFinancialInstruments 2024-03-31 07452455 d:Non-currentFinancialInstruments 2023-03-31 07452455 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07452455 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07452455 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07452455 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07452455 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07452455 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07452455 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07452455 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07452455 d:ShareCapital 2024-03-31 07452455 d:ShareCapital 2023-03-31 07452455 d:RetainedEarningsAccumulatedLosses 2024-03-31 07452455 d:RetainedEarningsAccumulatedLosses 2023-03-31 07452455 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07452455 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07452455 c:FRS102 2023-04-01 2024-03-31 07452455 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07452455 c:FullAccounts 2023-04-01 2024-03-31 07452455 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07452455 2 2023-04-01 2024-03-31 07452455 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07452455









TARPEYS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TARPEYS LTD
REGISTERED NUMBER: 07452455

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
60,400
5,600

  
60,400
5,600

Current assets
  

Debtors: amounts falling due within one year
 5 
79,611
84,551

Cash at bank and in hand
  
148,936
87,644

  
228,547
172,195

Creditors: amounts falling due within one year
 6 
(166,152)
(127,804)

Net current assets
  
 
 
62,395
 
 
44,391

Total assets less current liabilities
  
122,795
49,991

Creditors: amounts falling due after more than one year
 7 
(115,598)
(90,462)

Provisions for liabilities
  

Deferred tax
  
(750)
-

  
 
 
(750)
 
 
-

Net assets/(liabilities)
  
6,447
(40,471)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
6,446
(40,472)

  
6,447
(40,471)


Page 1

 
TARPEYS LTD
REGISTERED NUMBER: 07452455
    
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 income and retained earnings 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 9 January 2025.




Inderpal Singh Goraya
Kamalpreet Kaur Goraya
Director
Director

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

Page 2

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

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 07452455.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, United Kingdom, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are 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

Going concern

The directors have prepared the accounts on a going concern basis.

 
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

Operating leases: the Company as lessee

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

Benefits received and receivable 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.

Page 3

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

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

 
2.9

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.


Page 4

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

2.Accounting policies (continued)

 
2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
straight-line
Fixtures and fittings
-
15%
straight-line
Office equipment
-
15%
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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

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

2.Accounting policies (continued)

 
2.15

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 48 (2023 - 38).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
-
9,045
14,343
23,388


Additions
70,000
-
-
70,000



At 31 March 2024

70,000
9,045
14,343
93,388



Depreciation


At 1 April 2023
-
9,045
8,743
17,788


Charge for the year on owned assets
14,000
-
1,200
15,200



At 31 March 2024

14,000
9,045
9,943
32,988



Net book value



At 31 March 2024
56,000
-
4,400
60,400



At 31 March 2023
-
-
5,600
5,600

Page 6

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

5.


Debtors

2024
2023
£
£


Trade debtors
22,256
25,886

Amounts owed by group undertakings
-
7,952

Other debtors
57,355
50,713

79,611
84,551



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
36,600
36,600

Amounts owed to group undertakings
14,156
-

Corporation tax
29,886
-

Other taxation and social security
25,388
21,025

Obligations under finance lease and hire purchase contracts
7,593
-

Other creditors
49,529
64,376

Accruals and deferred income
3,000
5,803

166,152
127,804


The following liabilities were secured:

2024
2023
£
£



Bank loans
26,600
26,600

26,600
26,600

Details of security provided:

Bank loans are secured against the assets of the company and contain fixed and floating charges and a
negative pledge.

Page 7

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

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
59,939
90,462

Net obligations under finance leases and hire purchase contracts
55,659
-

115,598
90,462


The following liabilities were secured:

2024
2023
£
£



Bank loans
35,467
62,067

35,467
62,067

Details of security provided:

Bank loans are secured against the assets of the company and contain fixed and floating charges and a
negative pledge.

Page 8

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

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
36,600
36,600


36,600
36,600

Amounts falling due 1-2 years

Bank loans
36,600
36,600


36,600
36,600

Amounts falling due 2-5 years

Bank loans
23,339
53,862


23,339
53,862


96,539
127,062



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£

 
-
 
-

Page 9

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

10.


Deferred taxation




2024


£






Charged to profit or loss
(750)



At end of year
(750)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(750)
-

(750)
-


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £2,126 (2023 - £1,994) were payable to the fund at the balance sheet date.


12.


Transactions with directors

As at the balance sheet date £45,367 (2023: £17,795 was due to the directors) was due from the directors. Interest has been charged on the loan balance which is repayable on demand.

 
Page 10