Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-301414The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseNo description of principal activitytruetruefalse 04241013 2023-05-01 2024-04-30 04241013 2022-05-01 2023-04-30 04241013 2024-04-30 04241013 2023-04-30 04241013 c:Director3 2023-05-01 2024-04-30 04241013 d:PlantMachinery 2023-05-01 2024-04-30 04241013 d:PlantMachinery 2024-04-30 04241013 d:PlantMachinery 2023-04-30 04241013 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:MotorVehicles 2023-05-01 2024-04-30 04241013 d:MotorVehicles 2024-04-30 04241013 d:MotorVehicles 2023-04-30 04241013 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:FurnitureFittings 2023-05-01 2024-04-30 04241013 d:FurnitureFittings 2024-04-30 04241013 d:FurnitureFittings 2023-04-30 04241013 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:OfficeEquipment 2023-05-01 2024-04-30 04241013 d:OfficeEquipment 2024-04-30 04241013 d:OfficeEquipment 2023-04-30 04241013 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 04241013 d:OtherPropertyPlantEquipment 2024-04-30 04241013 d:OtherPropertyPlantEquipment 2023-04-30 04241013 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04241013 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04241013 d:CurrentFinancialInstruments 2024-04-30 04241013 d:CurrentFinancialInstruments 2023-04-30 04241013 d:Non-currentFinancialInstruments 2024-04-30 04241013 d:Non-currentFinancialInstruments 2023-04-30 04241013 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04241013 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04241013 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04241013 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04241013 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 04241013 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04241013 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 04241013 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 04241013 d:ShareCapital 2024-04-30 04241013 d:ShareCapital 2023-04-30 04241013 d:SharePremium 2024-04-30 04241013 d:SharePremium 2023-04-30 04241013 d:RetainedEarningsAccumulatedLosses 2024-04-30 04241013 d:RetainedEarningsAccumulatedLosses 2023-04-30 04241013 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-04-30 04241013 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-30 04241013 c:OrdinaryShareClass1 2023-05-01 2024-04-30 04241013 c:OrdinaryShareClass1 2024-04-30 04241013 c:OrdinaryShareClass1 2023-04-30 04241013 c:OrdinaryShareClass2 2023-05-01 2024-04-30 04241013 c:OrdinaryShareClass2 2024-04-30 04241013 c:OrdinaryShareClass2 2023-04-30 04241013 c:OrdinaryShareClass3 2023-05-01 2024-04-30 04241013 c:OrdinaryShareClass3 2024-04-30 04241013 c:OrdinaryShareClass3 2023-04-30 04241013 c:OrdinaryShareClass4 2023-05-01 2024-04-30 04241013 c:OrdinaryShareClass4 2024-04-30 04241013 c:OrdinaryShareClass4 2023-04-30 04241013 c:FRS102 2023-05-01 2024-04-30 04241013 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04241013 c:FullAccounts 2023-05-01 2024-04-30 04241013 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04241013 2 2023-05-01 2024-04-30 04241013 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 04241013 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 04241013 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 04241013 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 04241013 d:LeasedAssetsHeldAsLessee 2024-04-30 04241013 d:LeasedAssetsHeldAsLessee 2023-04-30 04241013 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04241013









TECHPARC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
TECHPARC LIMITED
REGISTERED NUMBER: 04241013

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
367,744
329,229

  
367,744
329,229

Current assets
  

Stocks
  
71,333
67,986

Debtors: amounts falling due within one year
 5 
272,631
260,470

Cash at bank and in hand
  
153,127
127,700

  
497,091
456,156

Creditors: amounts falling due within one year
 6 
(408,371)
(361,864)

Net current assets
  
 
 
88,720
 
 
94,292

Total assets less current liabilities
  
456,464
423,521

Creditors: amounts falling due after more than one year
 7 
(183,952)
(202,248)

Provisions for liabilities
  

Deferred tax
  
(92,674)
(62,555)

Other provisions
 9 
(10,000)
(10,000)

  
 
 
(102,674)
 
 
(72,555)

Net assets
  
169,838
148,718


Capital and reserves
  

Called up share capital 
 10 
40,000
40,000

Share premium account
  
126,000
126,000

Profit and loss account
  
3,838
(17,282)

  
169,838
148,718


Page 1

 
TECHPARC LIMITED
REGISTERED NUMBER: 04241013
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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: 




Mrs D Maddox
Director

Date: 29 January 2025

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

Page 2

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Techparc Limited, registered number 04241013, is a private limited company, limited by shares, incorporated in England and Wales, with its registered office address and principal place of business at Norbury Farm Buildings, Norbury Farm, Norbury, Stafford, Staffordshire, ST20 0PB.

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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

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

 
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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance
IT System
-
15%
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

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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 complete and sell. The impairment loss is recognised immediately 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.

 
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 14 (2023 - 14).

Page 6

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
IT system
Total

£
£
£
£
£
£



Cost or valuation


At 1 May 2023
80,059
252,421
13,247
3,882
128,700
478,309


Additions
3,741
94,966
-
-
37,020
135,727


Disposals
(240)
(51,533)
-
-
-
(51,773)



At 30 April 2024

83,560
295,854
13,247
3,882
165,720
562,263



Depreciation


At 1 May 2023
28,219
86,565
4,151
1,111
29,033
149,079


Charge for the year
 on owned assets
3,784
21
1,364
416
20,503
26,088


Charge for the year
 on financed assets
4,517
37,271
-
-
-
41,788


Disposals
(36)
(22,400)
-
-
-
(22,436)



At 30 April 2024

36,484
101,457
5,515
1,527
49,536
194,519



Net book value



At 30 April 2024
47,076
194,397
7,732
2,355
116,184
367,744



At 30 April 2023
51,839
165,856
9,096
2,771
99,667
329,229

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
25,597
30,114

Motor vehicles
193,794
152,447

219,391
182,561

Page 7

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
219,321
204,196

Other debtors
945
3,446

Prepayments and accrued income
52,365
52,828

272,631
260,470



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
35,949
33,921

Trade creditors
160,275
124,244

Taxation and social security
64,474
45,175

Obligations under finance lease and hire purchase contracts
60,058
56,415

Other creditors
7,466
4,909

Accruals and deferred income
80,149
97,200

408,371
361,864


Handlesbanken PLC hold a fixed and floating charge over the property of Techparc Limited.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
52,396
81,414

Net obligations under finance leases and hire purchase contracts
131,556
120,834

183,952
202,248


Page 8

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
35,949
33,921


35,949
33,921

Amounts falling due 1-2 years

Bank loans
35,949
33,921


35,949
33,921

Amounts falling due 2-5 years

Bank loans
16,447
47,493


16,447
47,493


88,345
115,335



9.


Provisions




Dilapidation provision

£





At 1 May 2023
10,000



At 30 April 2024
10,000

Page 9

 
TECHPARC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



6,667 (2023 - 6,667) Ordinary 'A' shares of £1.00 each
6,667
6,667
6,667 (2023 - 6,667) Ordinary 'B' shares of £1.00 each
6,667
6,667
13,333 (2023 - 13,333) Ordinary 'C' shares of £1.00 each
13,333
13,333
13,333 (2023 - 13,333) Ordinary 'D' shares of £1.00 each
13,333
13,333

40,000

40,000



11.


Pension commitments

The Company operates and defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,419 (2023: £7,116). Contributions totalling £1,138 (2023: £1,026) were payable to the fund at the balance sheet date.

 
Page 10