Caseware UK (AP4) 2024.0.164 2024.0.164 No description of principal activity2023-08-01false1514falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI055571 2023-08-01 2024-07-31 NI055571 2022-08-01 2023-07-31 NI055571 2024-07-31 NI055571 2023-07-31 NI055571 c:Director1 2023-08-01 2024-07-31 NI055571 c:Director2 2023-08-01 2024-07-31 NI055571 d:PlantMachinery 2023-08-01 2024-07-31 NI055571 d:PlantMachinery 2024-07-31 NI055571 d:PlantMachinery 2023-07-31 NI055571 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 NI055571 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 NI055571 d:MotorVehicles 2023-08-01 2024-07-31 NI055571 d:MotorVehicles 2024-07-31 NI055571 d:MotorVehicles 2023-07-31 NI055571 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 NI055571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 NI055571 d:FurnitureFittings 2023-08-01 2024-07-31 NI055571 d:FurnitureFittings 2024-07-31 NI055571 d:FurnitureFittings 2023-07-31 NI055571 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 NI055571 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 NI055571 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 NI055571 d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 NI055571 d:Goodwill 2024-07-31 NI055571 d:Goodwill 2023-07-31 NI055571 d:CurrentFinancialInstruments 2024-07-31 NI055571 d:CurrentFinancialInstruments 2023-07-31 NI055571 d:Non-currentFinancialInstruments 2024-07-31 NI055571 d:Non-currentFinancialInstruments 2023-07-31 NI055571 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 NI055571 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 NI055571 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 NI055571 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 NI055571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 NI055571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 NI055571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 NI055571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 NI055571 d:ShareCapital 2024-07-31 NI055571 d:ShareCapital 2023-07-31 NI055571 d:RetainedEarningsAccumulatedLosses 2024-07-31 NI055571 d:RetainedEarningsAccumulatedLosses 2023-07-31 NI055571 c:OrdinaryShareClass1 2023-08-01 2024-07-31 NI055571 c:OrdinaryShareClass1 2024-07-31 NI055571 c:OrdinaryShareClass1 2023-07-31 NI055571 c:OrdinaryShareClass2 2023-08-01 2024-07-31 NI055571 c:OrdinaryShareClass2 2024-07-31 NI055571 c:OrdinaryShareClass2 2023-07-31 NI055571 c:OrdinaryShareClass3 2023-08-01 2024-07-31 NI055571 c:OrdinaryShareClass3 2024-07-31 NI055571 c:OrdinaryShareClass3 2023-07-31 NI055571 c:FRS102 2023-08-01 2024-07-31 NI055571 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 NI055571 c:FullAccounts 2023-08-01 2024-07-31 NI055571 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI055571 d:HirePurchaseContracts d:WithinOneYear 2024-07-31 NI055571 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 NI055571 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-07-31 NI055571 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 NI055571 2 2023-08-01 2024-07-31 NI055571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-07-31 NI055571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-31 NI055571 d:LeasedAssetsHeldAsLessee 2024-07-31 NI055571 d:LeasedAssetsHeldAsLessee 2023-07-31 NI055571 d:Goodwill d:OwnedIntangibleAssets 2023-08-01 2024-07-31 NI055571 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI055571










Teague & Sally Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2024

 
Teague & Sally Ltd
Registered number: NI055571

Balance Sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
160,000
200,000

Tangible assets
 5 
55,419
60,577

  
215,419
260,577

Current assets
  

Stocks
 6 
30,428
46,654

Debtors: amounts falling due within one year
 7 
503,021
173,068

Cash at bank and in hand
  
217,161
73,347

  
750,610
293,069

Creditors: amounts falling due within one year
 8 
(808,663)
(472,356)

Net current liabilities
  
 
 
(58,053)
 
 
(179,287)

Total assets less current liabilities
  
157,366
81,290

Creditors: amounts falling due after more than one year
 9 
(23,861)
(27,663)

Provisions for liabilities
  

Other provisions
  
(20,000)
(40,000)

  
 
 
(20,000)
 
 
(40,000)

Net assets
  
113,505
13,627


Capital and reserves
  

Called up share capital 
 12 
102
102

Profit and loss account
  
113,403
13,525

  
113,505
13,627


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Page 1

 
Teague & Sally Ltd
Registered number: NI055571

Balance Sheet (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 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.

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 28 April 2025.




Mr Jason Arthur
Mr Johnston Bell
Director
Director

The notes on pages 3 to 12 form part of these financial statements.

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Page 2

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

1.


General information

Teague & Sally Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company section of these financial statements.

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

Going concern

The Directors of Teague & Sally Ltd have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future. 
Accordingly, Teague & Sally Ltd 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:

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.

 
2.4

Interest income

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

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Page 3

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
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

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 balance sheet date in the countries where the Company operates and generates income.


 
2.9

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.
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.

 
2.10

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.

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Page 4

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance

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.

 
2.11

Stocks

Work in progress is directly attributable costs incurred to date by Teague & Sally Ltd on ongoing assignments and does not include profit margins.
 

 
2.12

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.

 
2.13

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.

 
2.14

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.

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Page 5

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

 
2.17

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.

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Page 6

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Staff & Directors
15
14

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Page 7

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
400,000



At 31 July 2024

400,000



Amortisation


At 1 August 2023
200,000


Charge for the year on owned assets
40,000



At 31 July 2024

240,000



Net book value



At 31 July 2024
160,000



At 31 July 2023
200,000



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Page 8

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
36,488
42,123
104,447
183,058


Additions
4,844
-
-
4,844



At 31 July 2024

41,332
42,123
104,447
187,902



Depreciation


At 1 August 2023
24,069
9,404
89,007
122,480


Charge for the year on owned assets
2,914
1,998
1,102
6,014


Charge for the year on financed assets
-
3,989
-
3,989



At 31 July 2024

26,983
15,391
90,109
132,483



Net book value



At 31 July 2024
14,349
26,732
14,338
55,419



At 31 July 2023
12,419
32,719
15,440
60,578

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
15,517
19,397

15,517
19,397


6.


Stocks

2024
2023
£
£

Work in progress
30,428
46,654

30,428
46,654


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Page 9

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

7.


Debtors

2024
2023
£
£


Trade debtors
43,415
172,581

Amounts owed by group undertakings
300
200

Other debtors
13,421
287

Prepayments and accrued income
445,885
-

503,021
173,068



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,763
-

Bank loans
25,895
-

Other loans
10,648
19,126

Trade creditors
248,215
206,552

Amounts owed to group undertakings
6,670
6,716

Corporation tax
147,061
31,954

Other taxation and social security
3,268
15,571

Obligations under finance lease and hire purchase contracts
5,114
4,784

Other creditors
3,444
3,859

Accruals and deferred income
349,585
183,794

808,663
472,356



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,716
19,402

Net obligations under finance leases and hire purchase contracts
3,145
8,261

23,861
27,663


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Page 10

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
25,895
-

Other loans
10,648
19,126


36,543
19,126

Amounts falling due 1-2 years

Bank loans
20,716
10,648


20,716
10,648

Amounts falling due 2-5 years

Bank loans
-
8,753


-
8,753


57,259
38,527



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,114
4,784

Between 1-5 years
3,145
8,261

8,259
13,045


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) A Ordinary shares of £1.00 each
50
50
50 (2023 - 50) B Ordinary shares of £1.00 each
50
50
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Page 11

 
Teague & Sally Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2024

12.Share capital (continued)

1 (2023 - 1) C Ordinary share of £1.00
1
1
1 (2023 - 1) D Ordinary share of £1.00
1
1

102

102



13.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,003 (2023: £24,123). Contributions totalling £1,947 (2023: £1,819) were payable to the fund at the balance sheet date and are included in other creditors.

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Page 12