Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08154803 2023-08-01 2024-07-31 08154803 2022-08-01 2023-07-31 08154803 2024-07-31 08154803 2023-07-31 08154803 c:Director1 2023-08-01 2024-07-31 08154803 d:FurnitureFittings 2023-08-01 2024-07-31 08154803 d:FurnitureFittings 2024-07-31 08154803 d:FurnitureFittings 2023-07-31 08154803 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08154803 d:LeaseholdInvestmentProperty 2024-07-31 08154803 d:LeaseholdInvestmentProperty 2023-07-31 08154803 d:CurrentFinancialInstruments 2024-07-31 08154803 d:CurrentFinancialInstruments 2023-07-31 08154803 d:Non-currentFinancialInstruments 2024-07-31 08154803 d:Non-currentFinancialInstruments 2023-07-31 08154803 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08154803 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08154803 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 08154803 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08154803 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 08154803 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 08154803 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 08154803 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 08154803 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-07-31 08154803 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 08154803 d:ShareCapital 2024-07-31 08154803 d:ShareCapital 2023-07-31 08154803 d:RetainedEarningsAccumulatedLosses 2024-07-31 08154803 d:RetainedEarningsAccumulatedLosses 2023-07-31 08154803 c:OrdinaryShareClass1 2023-08-01 2024-07-31 08154803 c:OrdinaryShareClass1 2024-07-31 08154803 c:OrdinaryShareClass1 2023-07-31 08154803 c:FRS102 2023-08-01 2024-07-31 08154803 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08154803 c:FullAccounts 2023-08-01 2024-07-31 08154803 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08154803 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08154803









TIBSONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
TIBSONS LIMITED
REGISTERED NUMBER: 08154803

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,300
5,059

Investment property
 5 
6,475,921
6,475,921

  
6,480,221
6,480,980

Current assets
  

Debtors: amounts falling due within one year
 6 
295,629
385,528

Current asset investments
  
193,875
-

Cash at bank and in hand
 8 
110,912
208,025

  
600,416
593,553

Creditors: amounts falling due within one year
 9 
(4,526,525)
(4,538,526)

Net current liabilities
  
 
 
(3,926,109)
 
 
(3,944,973)

Total assets less current liabilities
  
2,554,112
2,536,007

Creditors: amounts falling due after more than one year
 10 
(1,288,338)
(1,329,043)

Provisions for liabilities
  

Deferred tax
  
(34,197)
(34,083)

  
 
 
(34,197)
 
 
(34,083)

Net assets
  
1,231,577
1,172,881


Capital and reserves
  

Called up share capital 
 12 
4
4

Profit and loss account
  
1,231,573
1,172,877

  
1,231,577
1,172,881


Page 1

 
TIBSONS LIMITED
REGISTERED NUMBER: 08154803
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 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 28 April 2025.




Hakeem Bello
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The company is a private company limited by shares, registered and incorporated in England & Wales.
The address of the registered office is 11 Blossom Close, London, England, W5 4YE.

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 financial statements are prepared in Sterling (£), which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.

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:

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

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

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 reporting 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 reporting 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 reporting date.

 
2.6

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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
-
15%

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.

Page 4

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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

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 directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
2
2

Page 5

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2023
13,980



At 31 July 2024

13,980



Depreciation


At 1 August 2023
8,921


Charge for the year on owned assets
759



At 31 July 2024

9,680



Net book value



At 31 July 2024
4,300



At 31 July 2023
5,059

Page 6

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 August 2023
6,475,921



At 31 July 2024
6,475,921

No external revaluations took place in the year ended 31 July 2024.



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:

2024
2023
£
£


Historic cost
6,001,162
6,001,162

6,001,162
6,001,162


6.


Debtors

2024
2023
£
£


Trade debtors
2,342
4,000

Other debtors
293,287
381,528

295,629
385,528



7.


Current asset investments

2024
2023
£
£

Unlisted investments
193,875
-

193,875
-


Page 7

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
110,912
208,025

110,912
208,025



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
114,550
114,242

Payments received on account
27,875
16,543

Corporation tax
16,370
18,452

Other creditors
4,364,130
4,385,749

Accruals and deferred income
3,600
3,540

4,526,525
4,538,526


The following liabilities were secured:

2024
2023
£
£



Bank loans
114,550
114,242

114,550
114,242

Details of security provided:

The company has loans of £114,550 (2023: £114,242) falling due within one year, which are secured against properties of the company. 

Page 8

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,288,338
1,329,043

1,288,338
1,329,043


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,288,338
1,329,043

1,288,338
1,329,043

Details of security provided:

The company has loans of £1,288,338 (2023: £1,329,043) falling due after more than one year, which are secured against properties of the company. On average, the remaining loan terms are 20 years. The interest rate on the loans are between 3-4%.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable by instalments
944,688
986,319

944,688
986,319



Page 9

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
114,550
114,242


114,550
114,242

Amounts falling due 1-2 years

Bank loans
114,550
114,242


114,550
114,242

Amounts falling due 2-5 years

Bank loans
229,100
228,484


229,100
228,484

Amounts falling due after more than 5 years

Bank loans
944,688
986,319

944,688
986,319

1,402,888
1,443,287


Page 10

 
TIBSONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4 (2023 - 4) Ordinary shares of £1.00 each
4
4



13.


Related party transactions

At 31 July 2024, the company owed £4,316,669 (2023: £4,333,996) to the directors. The amount is unsecured and no guarantee was provided.
At 31 July 2024, the company was owed £251,487 (2023: £301,487) by a company controlled by a director. The amount is unsecured and no guarantee was provided.

 
Page 11