Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-01falsefalseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09515091 2023-05-01 2024-04-30 09515091 2022-05-01 2023-04-30 09515091 2024-04-30 09515091 2023-04-30 09515091 2022-05-01 09515091 1 2023-05-01 2024-04-30 09515091 1 2022-05-01 2023-04-30 09515091 6 2023-05-01 2024-04-30 09515091 6 2022-05-01 2023-04-30 09515091 d:Director1 2023-05-01 2024-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2023-05-01 2024-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2024-04-30 09515091 e:Buildings e:LongLeaseholdAssets 2023-04-30 09515091 e:FreeholdInvestmentProperty 2024-04-30 09515091 e:FreeholdInvestmentProperty 3 2023-05-01 2024-04-30 09515091 e:CurrentFinancialInstruments 2024-04-30 09515091 e:CurrentFinancialInstruments 2023-04-30 09515091 e:Non-currentFinancialInstruments 2024-04-30 09515091 e:Non-currentFinancialInstruments 2023-04-30 09515091 e:CurrentFinancialInstruments e:WithinOneYear 2024-04-30 09515091 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-30 09515091 e:Non-currentFinancialInstruments e:AfterOneYear 2024-04-30 09515091 e:Non-currentFinancialInstruments e:AfterOneYear 2023-04-30 09515091 e:ShareCapital 2023-05-01 2024-04-30 09515091 e:ShareCapital 2024-04-30 09515091 e:ShareCapital 2022-05-01 2023-04-30 09515091 e:ShareCapital 2023-04-30 09515091 e:ShareCapital 2022-05-01 09515091 e:CapitalRedemptionReserve 2023-05-01 2024-04-30 09515091 e:CapitalRedemptionReserve 2024-04-30 09515091 e:CapitalRedemptionReserve 1 2023-05-01 2024-04-30 09515091 e:CapitalRedemptionReserve 2022-05-01 2023-04-30 09515091 e:CapitalRedemptionReserve 2023-04-30 09515091 e:CapitalRedemptionReserve 2022-05-01 09515091 e:RevaluationReserve 2023-05-01 2024-04-30 09515091 e:RevaluationReserve 2024-04-30 09515091 e:RevaluationReserve 1 2023-05-01 2024-04-30 09515091 e:RevaluationReserve 6 2023-05-01 2024-04-30 09515091 e:RevaluationReserve 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 2023-04-30 09515091 e:RevaluationReserve 2022-05-01 09515091 e:RevaluationReserve 1 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 6 2022-05-01 2023-04-30 09515091 e:RevaluationReserve 8 2022-05-01 2023-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 2023-05-01 2024-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 2024-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 1 2023-05-01 2024-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 2022-05-01 2023-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 2023-04-30 09515091 e:InvestmentPropertiesRevaluationReserve 2022-05-01 09515091 e:InvestmentPropertiesRevaluationReserve 1 2022-05-01 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2024-04-30 09515091 e:RetainedEarningsAccumulatedLosses 1 2023-05-01 2024-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2023-04-30 09515091 e:RetainedEarningsAccumulatedLosses 2022-05-01 09515091 e:RetainedEarningsAccumulatedLosses 1 2022-05-01 2023-04-30 09515091 d:FRS102 2023-05-01 2024-04-30 09515091 d:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09515091 d:FullAccounts 2023-05-01 2024-04-30 09515091 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09515091 2 2023-05-01 2024-04-30 09515091 5 2023-05-01 2024-04-30 09515091 6 2023-05-01 2024-04-30 09515091 e:ShareCapital 1 2023-05-01 2024-04-30 09515091 e:ShareCapital 1 2022-05-01 2023-04-30 09515091 f:PoundSterling 2023-05-01 2024-04-30 09515091 e:RetainedEarningsAccumulatedLosses 6 2023-05-01 2024-04-30 09515091 e:RetainedEarningsAccumulatedLosses 6 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 09515091










Tribeca Technology Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2024


 


 
Tribeca Technology Group Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Tribeca Technology Group Limited for the Year Ended 30 April 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 Tribeca Technology Group Limited for the year ended 30 April 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity 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 director of Tribeca Technology Group Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tribeca Technology Group Limited and state those matters that we have agreed to state to the director of Tribeca Technology Group Limited 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 Tribeca Technology Group Limited and its director for our work or for this report. 

It is your duty to ensure that Tribeca Technology Group 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 Tribeca Technology Group Limited. You consider that Tribeca Technology Group 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 Tribeca Technology Group 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
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
31 January 2025
Page 1

 
Tribeca Technology Group Limited
Registered number: 09515091

Balance Sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,263,269

Investments
 5 
2
906

Investment property
 6 
1,262,560
-

  
1,262,562
1,264,175

Current assets
  

Debtors: amounts falling due within one year
 7 
126,992
68,061

Cash at bank and in hand
  
1,016,983
1,108,175

  
1,143,975
1,176,236

Creditors: amounts falling due within one year
 8 
(98,425)
(92,512)

Net current assets
  
 
 
1,045,550
 
 
1,083,724

Total assets less current liabilities
  
2,308,112
2,347,899

Creditors: amounts falling due after more than one year
 9 
(431,719)
(590,538)

Provisions for liabilities
  

Deferred tax
  
(128,469)
(128,646)

  
 
 
(128,469)
 
 
(128,646)

Net assets
  
1,747,924
1,628,715

Page 2

 
Tribeca Technology Group Limited
Registered number: 09515091

Balance Sheet (continued)
As at 30 April 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
75
75

Revaluation reserve
 10 
(545)
390,815

Capital redemption reserve
 10 
20
20

Investment property reserve
 10 
391,598
-

Profit and loss account
 10 
1,356,776
1,237,805

  
1,747,924
1,628,715


The director considers 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 director acknowledges his 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 on 31 January 2025.




M J Instance
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
Tribeca Technology Group Limited
 

Statement of Changes in Equity
For the Year Ended 30 April 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£


At 1 May 2022
75
20
391,027
-
679,614
1,070,736


Comprehensive income for the year

Profit for the year
-
-
-
-
817,066
817,066

Deferred tax on movment of revaluation of leasehold property
-
-
327
-
-
327

Depreciation of revaluation of leasehold property
-
-
(539)
-
539
-
Total comprehensive income for the year
-
-
(212)
-
817,605
817,393

Dividends: Equity capital
-
-
-
-
(259,414)
(259,414)


Total transactions with owners
-
-
-
-
(259,414)
(259,414)



At 1 May 2023
75
20
390,815
-
1,237,805
1,628,715


Comprehensive income for the year

Profit for the year
-
-
-
-
249,937
249,937

Deferred tax on movment of revaluation of leasehold property
-
-
177
-
-
177

Depreciation of revaluation of leasehold property
-
-
61
-
(61)
-
Total comprehensive income for the year
-
-
238
-
249,876
250,114

Dividends: Equity capital
-
-
-
-
(130,905)
(130,905)

Transfer between other reserves
-
-
(391,598)
391,598
-
-


Total transactions with owners
-
-
(391,598)
391,598
(130,905)
(130,905)


At 30 April 2024
75
20
(545)
391,598
1,356,776
1,747,924


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

1.


General information

Tribeca Technology Group Limited is a private company limited by shares and is incorporated in England with the registration number 09515091. The address of the registered office is Hengist House, Pond Farm Road, Oad Street, Sittingbourne, Kent, ME9 8LT. 

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:

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 5

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 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, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the life of the lease

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 6

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 7

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 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 debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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 instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 8

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

 
2.17

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 1 (2023 - 1).

Page 9

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

4.


Tangible fixed assets





Long-term leasehold property

£





At 1 May 2023
1,265,450


Transfers between classes
(1,265,450)



At 30 April 2024

-





At 1 May 2023
2,181


Charge for the year on owned assets
709


Transfers between classes
(2,890)



At 30 April 2024

-



Net book value



At 30 April 2024
-



At 30 April 2023
1,263,269


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 May 2023
905
1
906


Additions
-
1
1


Disposals
(905)
-
(905)



At 30 April 2024
-
2
2




On 16 November 2023 the company made a distribution in specie of its investment in subsidiary undertakings. 

Page 10

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

6.


Investment property


Freehold investment property

£



Valuation


Transfers between classes
1,262,560



At 30 April 2024
1,262,560

2024
2023
£
£

Revaluation reserves


Net gain in movement properties
391,598
-

At 30 April 2024
391,598
-



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
748,685
748,685

Accumulated depreciation and impairments
(5,647)
(4,877)

743,038
743,808


7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
90
40,000

Amounts owed by other participating interests
35,495
27,500

Other debtors
91,407
-

Prepayments and accrued income
-
561

126,992
68,061


Included within other debtors due within one year is a loan to Mark Instance, sole director, amounting to £90,558 (2023 - £0). Amounts repaid during the year totalled £nil.  The main conditions were as follows:

Interest has been charged at market rate.

Page 11

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
71,537
69,567

Amounts owed to group undertakings
-
810

Corporation tax
18,798
14,721

Other taxation and social security
5,090
5,400

Accruals and deferred income
3,000
2,014

98,425
92,512



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
431,719
590,538


The following liabilities were secured:

2024
2023
£
£



Bank loan
503,256
660,105

Details of security provided:

The bank loan is secured by fixed charge over the Property and assets of the company by Handelsbanken.
The company also has a debenture given to Handelsbanken, secured by fixed and floating charge, and negative pledge over all of the assets and undertakings of the company. 

Page 12

 
Tribeca Technology Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

10.


Reserves

Revaluation reserve

The revaluation reserve represents revaluations of long term leasehold property, less the associated deferred tax adjustments in accordance with FRS102(1a).

Capital redemption reserve

Capital redemption reserve represents the nominal value of shares for share capital repurchased by the company. 

Investment property revaluation reserve

This reserve records the surplus on fair value adjustment of investment properties less deferred tax on the valuation. This reserve is a non-distributable profit and loss reserve. A net gain or loss recognised in a year, as adjusted for deferred tax, will be transferred to this reserve from the profit and loss account reserve.

Profit and loss account

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


11.


Related party transactions

During the year the company paid dividends to the directors who were also shareholders in the company totalling £130,000 (2023: £259,414).  All other transactions with related parties that arose during the current and prior years were done so under normal market conditions.


12.


Controlling party

The parent undertaking of the company is MJI Ventures Limited, a company incorporated in England and Wales, where the ultimate controlling party is Mark Instance by virtue of shareholding. 


Page 13