Caseware UK (AP4) 2024.0.164 2024.0.164 2023-04-01truefalse0falseNo description of principal activity1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI062662 2023-03-31 NI062662 2023-04-01 2024-03-31 NI062662 2022-04-01 2023-03-31 NI062662 2024-03-31 NI062662 c:Director1 2023-04-01 2024-03-31 NI062662 d:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 NI062662 d:LeaseholdInvestmentProperty 2024-03-31 NI062662 d:CurrentFinancialInstruments 2024-03-31 NI062662 d:Non-currentFinancialInstruments 2024-03-31 NI062662 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 NI062662 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 NI062662 d:ShareCapital 2024-03-31 NI062662 d:RetainedEarningsAccumulatedLosses 2024-03-31 NI062662 c:OrdinaryShareClass1 2023-04-01 2024-03-31 NI062662 c:OrdinaryShareClass1 2024-03-31 NI062662 c:FRS102 2023-04-01 2024-03-31 NI062662 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 NI062662 c:FullAccounts 2023-04-01 2024-03-31 NI062662 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI062662 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI062662










Teamplus Properties Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Teamplus Properties Limited
Registered number: NI062662

Balance Sheet
As at 31 March 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
1,188,752

  
1,188,752

Current assets
  

Cash at bank and in hand
 5 
4,729

  
4,729

Creditors: amounts falling due within one year
 6 
(1,113,542)

Net current (liabilities)/assets
  
 
 
(1,108,813)

Total assets less current liabilities
  
79,939

Creditors: amounts falling due after more than one year
 7 
(80,123)

Provisions for liabilities
  

Deferred tax
  
(5,003)

  
 
 
(5,003)

Net (liabilities)/assets
  
(5,187)


Capital and reserves
  

Called up share capital 
 8 
1

Profit and loss account
  
(5,188)

  
(5,187)


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Teamplus Properties Limited
Registered number: NI062662

Balance Sheet (continued)
As at 31 March 2024

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 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 30 January 2025.




John George Willis
Director

The notes on pages 3 to 8 form part of these financial statements.

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Teamplus Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

1.


General information

Teamplus Properties Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.
The presentation currency is that of sterling. There is no rounding applied to the accounts.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Teamplus Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
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

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.

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Teamplus Properties 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

Investment property

Investment property is carried at fair value determined annually 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 profit or loss.

 
2.8

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.

 
2.9

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.

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Teamplus Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.10

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1.


4.


Investment property


Investment property

£



Valuation


Additions at cost
1,188,752



At 31 March 2024
1,188,752

The 2024 valuations were made by the directors, on an open market value for existing use basis.








5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
4,729

Less: bank overdrafts
(5,577)

(848)


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Teamplus Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

6.


Creditors: Amounts falling due within one year

2024
£

Bank overdrafts
5,577

Bank loans
18,830

Amounts owed to group undertakings
316,535

Other taxation and social security
721

Other creditors
769,879

Accruals and deferred income
2,000

1,113,542



7.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
80,123

80,123


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Teamplus Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

8.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary Share share of £1.00
1





9.


Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1A not to disclose transactions with companies within the group. All transactions with related parties were conducted on an arm's length basis and in the ordinary course of business.


10.


Controlling party

The ultimate controlling party is Armagh 11 Ltd.


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