Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-04-01falsefalsefalseNo description of principal activity3123true SC530749 2024-04-01 2024-12-31 SC530749 2023-04-01 2024-03-31 SC530749 2024-12-31 SC530749 2024-03-31 SC530749 c:Director1 2024-04-01 2024-12-31 SC530749 d:FurnitureFittings 2024-04-01 2024-12-31 SC530749 d:FurnitureFittings 2024-12-31 SC530749 d:FurnitureFittings 2024-03-31 SC530749 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2024-12-31 SC530749 d:OfficeEquipment 2024-04-01 2024-12-31 SC530749 d:OfficeEquipment 2024-12-31 SC530749 d:OfficeEquipment 2024-03-31 SC530749 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2024-12-31 SC530749 d:ComputerEquipment 2024-04-01 2024-12-31 SC530749 d:ComputerEquipment 2024-12-31 SC530749 d:ComputerEquipment 2024-03-31 SC530749 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-04-01 2024-12-31 SC530749 d:OwnedOrFreeholdAssets 2024-04-01 2024-12-31 SC530749 d:CurrentFinancialInstruments 2024-12-31 SC530749 d:CurrentFinancialInstruments 2024-03-31 SC530749 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC530749 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC530749 d:ShareCapital 2024-12-31 SC530749 d:ShareCapital 2024-03-31 SC530749 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC530749 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC530749 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 SC530749 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 SC530749 c:OrdinaryShareClass1 2024-04-01 2024-12-31 SC530749 c:OrdinaryShareClass1 2024-12-31 SC530749 c:OrdinaryShareClass1 2024-03-31 SC530749 c:OrdinaryShareClass2 2024-04-01 2024-12-31 SC530749 c:OrdinaryShareClass2 2024-12-31 SC530749 c:FRS102 2024-04-01 2024-12-31 SC530749 c:Audited 2024-04-01 2024-12-31 SC530749 c:FullAccounts 2024-04-01 2024-12-31 SC530749 c:PrivateLimitedCompanyLtd 2024-04-01 2024-12-31 SC530749 c:SmallCompaniesRegimeForAccounts 2024-04-01 2024-12-31 SC530749 2 2024-04-01 2024-12-31 SC530749 e:PoundSterling 2024-04-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC530749









TDS (E&W) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
TDS (E&W) LIMITED
REGISTERED NUMBER: SC530749

BALANCE SHEET
AS AT 31 DECEMBER 2024

Period Ended 31 December
As restated
Unaudited
31 March
2024
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
70,288
81,944

  
70,288
81,944

Current assets
  

Debtors: amounts falling due within one year
 6 
1,004,775
1,918,506

Cash at bank and in hand
 7 
1,651,090
2,977,967

  
2,655,865
4,896,473

Creditors: amounts falling due within one year
 8 
(2,024,087)
(1,645,508)

Net current assets
  
 
 
631,778
 
 
3,250,965

Total assets less current liabilities
  
702,066
3,332,909

Provisions for liabilities
  

Deferred tax
 9 
(17,572)
-

  
 
 
(17,572)
 
 
-

Net assets
  
684,494
3,332,909


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
684,492
3,332,907

  
684,494
3,332,909


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 by: 

Neil Taylor
Director
Date: 27 March 2025

The notes on pages 2 to 12 form part of these financial statements.

Page 1

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

TDS (E&W) Limited is a private company, limited by shares, incorporated in Scotland. The Company's registration number is SC530749 and registered office address is 4 Miller Walk, Bishopbriggs, Glasgow, Scotland, G64 1FF. 
These financial statements have been prepared in pounds sterling, rounded to the nearest pound, as this is the currency of the primary economic environment in which the Company operates. 

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

Going concern

In preparing these financial statements, the Directors believe that the Company has adequate resources and access to sufficient cash to continue in operational existence for at least 12 months from the date of signing of the financial statements. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

 
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:

Turnover represents membership fees and commission income receivable in the period. 
Membership fees are recognised on a straight-line basis over the duration of the membership period. 
Commission income is recognised according to the effective dates of each successful referral.

 
2.4

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.

 
2.5

Interest income

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

Page 2

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

Current and deferred taxation

The tax expense for the Period 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.

Page 3

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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:

Fixtures and fittings
-
25%
Office equipment
-
25%
Computer 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.

 
2.10

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.

 
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.

 
2.13

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.


 

Page 4

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

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.




 

Page 5

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. 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 payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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 instruments

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.

 
2.15

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.

Page 6

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

3.


Employees

Period ended
31 December
31 March
2024
2024
£
£

Wages and salaries
977,044
940,162

Social security costs
99,219
103,241

Cost of defined contribution scheme
152,087
120,657

1,228,350
1,164,060


The average monthly number of employees, including directors, during the Period was 31 (2024 - 23).


4.


Change in reporting date

With effect from 5 November 2024 the Company's year end changed from 31 March to the 31 December  aligning the Company's year end with the Parent Company's year end.
The financial statements for the year ending 31 December 2024 will cover a 9 month period from 1 April 2024 to 31 December 2024. Comparative figures for the year ended 31 March 2024 will cover a full 12 month period from 1 April 2023 to 31 March 2024.






Page 7

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
15,613
12,670
100,734
129,017


Additions
-
-
3,064
3,064



At 31 December 2024

15,613
12,670
103,798
132,081



Depreciation


At 1 April 2024
-
5,667
41,406
47,073


Charge for the Period on owned assets
-
3,930
10,790
14,720



At 31 December 2024

-
9,597
52,196
61,793



Net book value



At 31 December 2024
15,613
3,073
51,602
70,288



At 31 March 2024
15,613
7,003
59,328
81,944

Page 8

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

31 December
31 March
2024
2024
£
£


Trade debtors
897,289
629,292

Amounts owed by related parties
-
1,250,000

Prepayments and accrued income
107,486
39,214

1,004,775
1,918,506



7.


Cash and cash equivalents

31 December
31 March
2024
2024
£
£

Cash at bank and in hand
1,651,090
2,977,967

1,651,090
2,977,967



8.


Creditors: Amounts falling due within one year

31 December
As restated
31 March
2024
2024
£
£

Trade creditors
12,725
17,523

Corporation tax
182,030
517,192

Other taxation and social security
29,559
-

Other creditors
3,260
-

Accruals and deferred income
1,796,513
1,110,793

2,024,087
1,645,508


Page 9

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Deferred taxation






2024


£






Charged to profit or loss
(17,572)



At end of year
(17,572)

The deferred taxation balance is made up as follows:

31 December
31 March
2024
2024
£
£


Accelerated capital allowances
(17,572)
-

(17,572)
-


10.


Share capital

31 December
31 March
2024
2024
£
£
Allotted, called up and fully paid



160 (2024 - 200) A Ordinary shares  of £0.01 each
1.6
2.0
40 (2024 - Nil) B Ordinary shares  of £0.01 each
0.4
-

2.0

2.0

The Company’s issued share capital consists of 160 A Ordinary Shares and 40 B Ordinary Shares. In the event of a return of capital, any unpaid A Preferred Dividend will be settled first with any remaining surplus assets allocated to B Ordinary Shareholders. All shareholders have equal voting rights and no dividends may be declared without unanimous shareholder consent.


Page 10

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

11.


Prior year adjustment

Following a review, an error has been identified in the recognition of membership fee income in previous years. Membership fees were previously recognised on a cash basis. This treatment did not comply with the applicable accounting standards and the revenue recognition policy noted in 2.3, which recognises membership fee income on a straight-line basis over the duration of the membership period.
As a result, revenue and deferred income was misstated in error in previous years and the following prior year adjustments have been made to correct this:
Turnover for the periods ending 31 March 2024 and 31 March 2023 decreased by £71,166 and £135,541 respectively with £288,164 relating to previous accounting periods.
Deferred income as at 31 March 2024 and 31 March 2023 increased by £494,871 and £423,705 respectively.
The effect of the prior year adjustment on the brought forward reserves as at 1st April 2024 was a decrease of £494,871.
The effect of the prior year adjustment on the brought forward reserves as at 1st April 2023 was a decrease of £423,705.
The effect of the prior year adjustment on the brought forward reserves as at 1st April 2022 was a decrease of £288,164.


12.


Pension commitments

The Company operates a 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 £152,087 (2024 - £120,657).

Page 11

 
TDS (E&W) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

13.


Related party transactions

In the current year the Company made sales to a company under common control of £45,000 in respect of management charges (2024: £Nil). As at 31 December 2024, the amount owed by companies under common control was £Nil (2024: £1,250,000). 


14.


Controlling party

The Company's parent undertaking at the balance sheet date was Lifco Dental International AB, a company registered in Sweden (Reg:556730-9710). Their registered address is Stargatan 1, Se-74585, Enköping. 
The ultimate controlling party at the balance sheet date was Carl Bennet AB, a company registered in Sweden (Reg: 556379-0715). Their registered address is Göteborg kommun, Västra Götalands län.
 


15.


Auditors' information

The auditors' report on the financial statements for the Period ended 31 December 2024 was unqualified.

The audit report was signed on 27 March 2025 by Martin Johnston (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.


Page 12