Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02174465 2023-04-01 2024-03-31 02174465 2022-04-01 2023-03-31 02174465 2024-03-31 02174465 2023-03-31 02174465 c:Director1 2023-04-01 2024-03-31 02174465 d:FurnitureFittings 2023-04-01 2024-03-31 02174465 d:FurnitureFittings 2024-03-31 02174465 d:FurnitureFittings 2023-03-31 02174465 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02174465 d:ComputerEquipment 2023-04-01 2024-03-31 02174465 d:ComputerEquipment 2024-03-31 02174465 d:ComputerEquipment 2023-03-31 02174465 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02174465 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02174465 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 02174465 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 02174465 d:CurrentFinancialInstruments 2024-03-31 02174465 d:CurrentFinancialInstruments 2023-03-31 02174465 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02174465 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02174465 d:ShareCapital 2024-03-31 02174465 d:ShareCapital 2023-03-31 02174465 d:RetainedEarningsAccumulatedLosses 2024-03-31 02174465 d:RetainedEarningsAccumulatedLosses 2023-03-31 02174465 c:FRS102 2023-04-01 2024-03-31 02174465 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02174465 c:FullAccounts 2023-04-01 2024-03-31 02174465 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02174465 d:WithinOneYear 2024-03-31 02174465 d:WithinOneYear 2023-03-31 02174465 6 2023-04-01 2024-03-31 02174465 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-04-01 2024-03-31 02174465 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 02174465









TECHNOLOGY IN ACTION GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TECHNOLOGY IN ACTION GROUP LIMITED
REGISTERED NUMBER: 02174465

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,617
2,022

Tangible assets
 5 
2,627
1,332

Investments
 6 
3,348
62,234

  
7,592
65,588

Current assets
  

Debtors: amounts falling due within one year
 7 
18,138
22,500

Cash at bank and in hand
  
21,633
47,704

  
39,771
70,204

Creditors: amounts falling due within one year
 8 
(8,265)
(75,988)

Net current assets/(liabilities)
  
 
 
31,506
 
 
(5,784)

Total assets less current liabilities
  
39,098
59,804

  

Net assets
  
39,098
59,804


Capital and reserves
  

Called up share capital 
  
85,472
85,472

Profit and loss account
  
(46,374)
(25,668)

  
39,098
59,804


Page 1

 
TECHNOLOGY IN ACTION GROUP LIMITED
REGISTERED NUMBER: 02174465
    
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 12 March 2025.




A P Ansell
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Technology in Action Group Limited is a company incorporated in the United Kingdom under the Companies Act. The company is a private company limited by shares and is registered in England and Wales. The company's registered number is 02174465. The address of the registered office is Raymond Penny House, Phoenix Lane, Tiverton, Devon, EX16 6LU.
The principal activity of the company during the year was that of providing group management and administration services.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements are prepared on a going concern basis.
The Company continued to make losses after the balance sheet date. Cash reserves have significantly reduced. The directors of the Company have analysed and will carry out ongoing monitoring of the Company's financial position. The directors have considered the financial sources and support that are likely to be available during the going concern period, being a period of not less than one year from the date of the approval of the financial statements. As a result, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 3

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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, and provided on the following basis:.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Reducing Balance
Computer equipment
-
33%
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.

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

Page 5

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that re considered relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or  the period on the revision and future period where the revision affects both current and future periods.


4.


Intangible assets




Other Intangible Assets

£



Cost


At 1 April 2023
4,046



At 31 March 2024

4,046



Amortisation


At 1 April 2023
2,024


Charge for the year on owned assets
405



At 31 March 2024

2,429



Net book value



At 31 March 2024
1,617



At 31 March 2023
2,022



Page 6

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
24,179
16,381
40,560


Additions
125
1,917
2,042



At 31 March 2024

24,304
18,298
42,602



Depreciation


At 1 April 2023
23,695
15,533
39,228


Charge for the year on owned assets
129
618
747



At 31 March 2024

23,824
16,151
39,975



Net book value



At 31 March 2024
480
2,147
2,627



At 31 March 2023
484
848
1,332


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
62,234


Amounts written off
(58,886)



At 31 March 2024
3,348




Page 7

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
13,184
13,489

Other debtors
3,011
3,104

Prepayments and accrued income
1,943
5,907

18,138
22,500



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,958
7,164

Amounts owed to group undertakings
100
59,581

Other taxation and social security
1
1,868

Other creditors
458
2,805

Accruals and deferred income
2,748
4,570

8,265
75,988



9.


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
£
£


Total commitments
12,658
572

Page 8

 
TECHNOLOGY IN ACTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.

Related party transactions

As at 31 March 2024 the following amounts were interest free loans due from (due to) subsidiaries of Technology in Action Group Limited and payable on demand:


2024
2023

£
£

Retail Research and Development Limited
11,628
11,899

Retail Computer Services Limited
(100)
(59,581)

Distributed Intelligence Systems Inc
1,557
1,590

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing related party transactions with group companies. Other related party transactions are deemed to be at market rate. 


 
Page 9