Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true19No description of principal activity2024-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.20falsefalsefalse 04153243 2024-01-01 2024-12-31 04153243 2023-01-01 2023-12-31 04153243 2024-12-31 04153243 2023-12-31 04153243 c:Director3 2024-01-01 2024-12-31 04153243 d:CurrentFinancialInstruments 2024-12-31 04153243 d:CurrentFinancialInstruments 2023-12-31 04153243 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04153243 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04153243 d:RetainedEarningsAccumulatedLosses 2024-12-31 04153243 d:RetainedEarningsAccumulatedLosses 2023-12-31 04153243 c:FRS102 2024-01-01 2024-12-31 04153243 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04153243 c:FullAccounts 2024-01-01 2024-12-31 04153243 c:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 04153243 2 2024-01-01 2024-12-31 04153243 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 04153243










TURNAROUND MANAGEMENT ASSOCIATION (UK)
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TURNAROUND MANAGEMENT ASSOCIATION (UK)
 
(A company limited by guarantee)
REGISTERED NUMBER: 04153243

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,993
14,363

Cash at bank and in hand
  
174,912
158,393

  
177,905
172,756

Creditors: amounts falling due within one year
 5 
(6,186)
(4,071)

Net current assets
  
 
 
171,719
 
 
168,685

Total assets less current liabilities
  
171,719
168,685

  

Net assets
  
171,719
168,685


Capital and reserves
  

Profit and loss account
  
171,719
168,685

  
171,719
168,685


Page 1

 
TURNAROUND MANAGEMENT ASSOCIATION (UK)
 
(A company limited by guarantee)
REGISTERED NUMBER: 04153243
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 17 April 2025.




N D Chesterton
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
TURNAROUND MANAGEMENT ASSOCIATION (UK)

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

 
1.1

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:

 
1.2

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.

 
1.3

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.

 
1.4

Interest income

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

 
1.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
TURNAROUND MANAGEMENT ASSOCIATION (UK)

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.6

Taxation

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 reporting date in the countries where the Company operates and generates income.


 
1.7

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.

 
1.8

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.

 
1.9

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.


2.


General information

Turnaround Management (UK) ("the Company") is a private company, limited by guarantee, registered and domiciled in the United Kingdom. 
The registered number is: 04153243
The registered office is:
Insight House
Riverside Business Park
Stoney Common Road
Stansted Mountfitchet
Essex
CM24 8PL

Page 4

 
TURNAROUND MANAGEMENT ASSOCIATION (UK)

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 20).


4.


Debtors

2024
2023
£
£


Trade debtors
900
2,400

Other debtors
2,093
9,148

Prepayments and accrued income
-
2,815

2,993
14,363



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
415
-

Other taxation and social security
2,771
1,071

Other creditors
3,000
3,000

6,186
4,071




6.


Company status

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


7.


Controlling party

The Company is controlled by the members of TMA (UK)

 
Page 5