Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31true2023-08-01truefalseNo description of principal activity11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10871363 2023-08-01 2024-07-31 10871363 2022-08-01 2023-07-31 10871363 2024-07-31 10871363 2023-07-31 10871363 c:Director1 2023-08-01 2024-07-31 10871363 d:MotorVehicles 2023-08-01 2024-07-31 10871363 d:MotorVehicles 2024-07-31 10871363 d:MotorVehicles 2023-07-31 10871363 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10871363 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 10871363 d:OfficeEquipment 2023-08-01 2024-07-31 10871363 d:OfficeEquipment 2024-07-31 10871363 d:OfficeEquipment 2023-07-31 10871363 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10871363 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 10871363 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10871363 d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 10871363 d:FreeholdInvestmentProperty 2024-07-31 10871363 d:FreeholdInvestmentProperty 2023-07-31 10871363 d:CurrentFinancialInstruments 2024-07-31 10871363 d:CurrentFinancialInstruments 2023-07-31 10871363 d:Non-currentFinancialInstruments 2024-07-31 10871363 d:Non-currentFinancialInstruments 2023-07-31 10871363 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10871363 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10871363 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 10871363 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 10871363 d:ShareCapital 2024-07-31 10871363 d:ShareCapital 2023-07-31 10871363 d:RevaluationReserve 2024-07-31 10871363 d:RevaluationReserve 2023-07-31 10871363 d:RetainedEarningsAccumulatedLosses 2024-07-31 10871363 d:RetainedEarningsAccumulatedLosses 2023-07-31 10871363 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 10871363 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 10871363 c:FRS102 2023-08-01 2024-07-31 10871363 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10871363 c:FullAccounts 2023-08-01 2024-07-31 10871363 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10871363 2 2023-08-01 2024-07-31 10871363 5 2023-08-01 2024-07-31 10871363 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 10871363









TEGA PROPERTY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
TEGA PROPERTY LTD
REGISTERED NUMBER: 10871363

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,746
39,060

Investment property
 5 
995,000
995,000

  
1,024,746
1,034,060

Current assets
  

Debtors: amounts falling due within one year
 6 
150,090
155,408

Cash at bank and in hand
 7 
3,649
7,924

  
153,739
163,332

Creditors: amounts falling due within one year
 8 
(11,414)
(15,487)

Net current assets
  
 
 
142,325
 
 
147,845

Total assets less current liabilities
  
1,167,071
1,181,905

Creditors: amounts falling due after more than one year
 9 
(893,472)
(924,277)

Provisions for liabilities
  

Deferred tax
 10 
(22,671)
(22,671)

  
 
 
(22,671)
 
 
(22,671)

Net assets
  
250,928
234,957


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
96,648
96,648

Profit and loss account
  
154,180
138,209

  
250,928
234,957


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
TEGA PROPERTY LTD
REGISTERED NUMBER: 10871363
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024


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 14 January 2025.




David Allen Kraftman
Director

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

Page 2

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Tega Property Ltd is a private company, limited by shares, registered in England and Wales. The
company's registered office address is Flat 76, 1 Frogmore Avenue, Watford, WD17 2AW.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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.

 
2.3

Interest income

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

Page 3

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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

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:

Motor vehicles
-
25%
Office equipment
-
25%

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.

 
2.6

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.

 
2.7

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.

Page 4

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 the director, during the year was as follows:


        2024
        2023
            No.
            No.







Average number of employees
1
1

Page 5

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
52,080
-
52,080


Additions
-
462
462



At 31 July 2024

52,080
462
52,542



Depreciation


At 1 August 2023
13,020
-
13,020


Charge for the year on owned assets
-
11
11


Charge for the year on financed assets
9,765
-
9,765



At 31 July 2024

22,785
11
22,796



Net book value



At 31 July 2024
29,295
451
29,746



At 31 July 2023
39,060
-
39,060

Page 6

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
995,000



At 31 July 2024
995,000

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



At 31 July 2024



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




6.


Debtors

2024
2023
£
£


Other debtors
149,188
154,036

Prepayments and accrued income
902
1,372

150,090
155,408



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,649
7,924

3,649
7,924


Page 7

 
TEGA PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
1,618

Corporation tax
1,814
-

Obligations under finance lease and hire purchase contracts
6,758
11,310

Other creditors
-
733

Accruals and deferred income
2,842
1,826

11,414
15,487



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
739,068
736,873

Other creditors
154,404
187,404

893,472
924,277



10.


Deferred taxation




2024


£






At beginning of year
(22,671)



At end of year
(22,671)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(22,671)
(22,671)

(22,671)
(22,671)

 
Page 8