Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-28false25true2023-09-01falseNo description of principal activity23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02731197 2023-09-01 2024-08-31 02731197 2022-09-01 2023-08-31 02731197 2024-08-31 02731197 2023-08-31 02731197 2022-09-01 02731197 1 2023-09-01 2024-08-31 02731197 d:CompanySecretary1 2023-09-01 2024-08-31 02731197 d:Director1 2023-09-01 2024-08-31 02731197 d:Director2 2023-09-01 2024-08-31 02731197 d:Director3 2023-09-01 2024-08-31 02731197 d:Director4 2023-09-01 2024-08-31 02731197 d:Director4 2024-08-31 02731197 d:Director5 2023-09-01 2024-08-31 02731197 d:RegisteredOffice 2023-09-01 2024-08-31 02731197 d:Agent1 2023-09-01 2024-08-31 02731197 c:Buildings c:LongLeaseholdAssets 2023-09-01 2024-08-31 02731197 c:Buildings c:LongLeaseholdAssets 2024-08-31 02731197 c:Buildings c:LongLeaseholdAssets 2023-08-31 02731197 c:FurnitureFittings 2023-09-01 2024-08-31 02731197 c:FurnitureFittings 2024-08-31 02731197 c:FurnitureFittings 2023-08-31 02731197 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02731197 c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02731197 c:CurrentFinancialInstruments 2024-08-31 02731197 c:CurrentFinancialInstruments 2023-08-31 02731197 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 02731197 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 02731197 c:ShareCapital 2024-08-31 02731197 c:ShareCapital 2023-08-31 02731197 c:ShareCapital 2022-09-01 02731197 c:RevaluationReserve 2023-09-01 2024-08-31 02731197 c:RevaluationReserve 2024-08-31 02731197 c:RevaluationReserve 2022-09-01 2023-08-31 02731197 c:RevaluationReserve 2023-08-31 02731197 c:RevaluationReserve 2022-09-01 02731197 c:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 02731197 c:RetainedEarningsAccumulatedLosses 2024-08-31 02731197 c:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 02731197 c:RetainedEarningsAccumulatedLosses 2023-08-31 02731197 c:RetainedEarningsAccumulatedLosses 2022-09-01 02731197 d:OrdinaryShareClass1 2023-09-01 2024-08-31 02731197 d:OrdinaryShareClass1 2024-08-31 02731197 d:OrdinaryShareClass1 2023-08-31 02731197 d:FRS102 2023-09-01 2024-08-31 02731197 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02731197 d:FullAccounts 2023-09-01 2024-08-31 02731197 d:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02731197 2 2023-09-01 2024-08-31 02731197 6 2023-09-01 2024-08-31 02731197 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02731197









THE THOMAS SAUNDERS PARTNERSHIP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
COMPANY INFORMATION


Directors
W Ryan 
I Miller 
N Simpson 
R Richardson-Prescott (resigned 5 November 2024)
A Rigoli 




Company secretary
W Ryan



Registered number
02731197



Registered office
Unit 2.3
The Loom

14 Gower's Walk

E1 8PY




Accountants
Ecovis Wingrave Yeats UK Limited

Waverley House

7-12 Noel Street

London

W1F 8GQ




Bankers
Barclays Bank plc
1 Churchill Place

London

E14 5HP




Solicitors
Mayor Brown International LLP
201 Bishopsgate

London

EC2M 3AF





 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 15


 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
REGISTERED NUMBER: 02731197

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
47,156
57,785

Investments
 7 
-
6,023,350

  
47,156
6,081,135

Current assets
  

Stocks
  
157,008
59,929

Debtors
  
2,345,263
1,764,184

Cash at bank and in hand
  
7,798,133
1,699,591

  
10,300,404
3,523,704

Creditors: amounts falling due within one year
 8 
(1,392,342)
(869,068)

Net current assets
  
 
 
8,908,062
 
 
2,654,636

Total assets less current liabilities
  
8,955,218
8,735,771

  

Pension liability
 10 
(1,791,750)
(1,749,750)

Net assets
  
7,163,468
6,986,021


Capital and reserves
  

Called up share capital 
 9 
10,000
10,000

Revaluation reserve
  
-
5,965,863

Profit and loss account
  
7,153,468
1,010,158

  
7,163,468
6,986,021


Page 1

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
REGISTERED NUMBER: 02731197
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 profit and loss account 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 May 2025.




W Ryan
Director

The notes on pages 4 to 15 form part of these financial statements.

Page 2

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 September 2022
10,000
1,808,763
(500,302)
1,318,461


Comprehensive income for the year

Profit for the year
-
-
868,460
868,460

Actuarial gains on pension scheme
-
-
642,000
642,000

Surplus on revaluation of other fixed assets
-
4,157,100
-
4,157,100



At 1 September 2023
10,000
5,965,863
1,010,158
6,986,021


Comprehensive income for the year

Profit for the year
-
-
495,074
495,074

Actuarial losses on pension scheme
-
-
(317,627)
(317,627)

Realised gain on disposal of fixed asset investments
-
(5,965,863)
5,965,863
-


At 31 August 2024
10,000
-
7,153,468
7,163,468


The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The Thomas Saunders Partnership Limited is a private company, limited by shares, domiciled in England and Wales, registration number 02731197. The Company's registered office is Unit 2.3, The Loom, 14 Gower's Walk, London, E1 8PY.

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 Section 1A of 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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors of the Company regularly perform forecasts and projections for the Company and closely manage the Company's working capital requirements. Based upon these projections, the directors consider that the Company will continue to be able to operate as a going concern over the foreseeable future and meets its liabilities as they fall due. The directors therefore continue to adopt the going concern basis of accounting in preparing the Company's financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the length of the lease
Equipment, fixtures and fittings
-
10%- 50% per annum

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

Valuation of investments

Investments in unlisted Company shares, whose fair value can be reliably determined, are remeasured to fair value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where fair value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.7

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of the total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variation on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen. 
Turnover earned but not invoiced at the year end is included in amounts recoverable on long term contracts.

 
2.8

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.

 
2.9

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.

Page 6

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.10

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan. 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 the Profit and loss account 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.
Defined benefit pension plan
The Company operates a defined benefit plan which closed to future accrual with effect from 31 August 2017. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The liability recognised in the Balance sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

 
2.11

Interest income

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

Page 7

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

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.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:
Defined benefit pension scheme
The Company has an obligation to maintain pension benefits for a number of past and present employees. The cost of these benefits and the present value of the obligation depend on a number of factors, including; life expectancy, asset valuations and the discount rate on corporate bonds. Management estimates these factors in determining the net pension obligation in the balance sheet. The assumptions reflect historical experience and current trends.
Deferred tax
The Company has losses carried forward which gives rise to deferred tax. The deferred tax asset has not been recognised in the accounts due to uncertainty about the timing and value of future profits against which the losses will be offset. 
Amounts recoverable on contracts
In order for the Company to recognise revenues, related costs and profits associated with long term contracts, the directors need to estimate the final outcome of the contract as set out in note 2.7. Full provision is made for losses on all contracts in the year in which they are first foreseen.


4.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 23).

Page 8

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Taxation

Factors affecting current year tax charges
The current rate of tax in the year was 25.00% (2023 - 21.50%). 

Factors affecting future tax charges
The Company has tax losses of £1,625,130 (2023 - £1,854,755) available to offset against future trading profits. 
A deferred tax asset of £406,283 (
2023 - £463,689) has not been recognised.


6.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 September 2023
16,488
197,212
213,700


Additions
-
18,153
18,153


Disposals
-
(30,774)
(30,774)



At 31 August 2024

16,488
184,591
201,079



Depreciation


At 1 September 2023
3,697
152,218
155,915


Charge for the year on owned assets
3,297
25,485
28,782


Disposals
-
(30,774)
(30,774)



At 31 August 2024

6,994
146,929
153,923



Net book value



At 31 August 2024
9,494
37,662
47,156



At 31 August 2023
12,791
44,994
57,785

Page 9

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Fixed asset investments





Investments in associates

£





At 1 September 2023
6,023,350


Disposals
(6,023,350)



At 31 August 2024
-




On 12 December 2023 the Company sold its entire shareholding in TTSP HWP Planungsgessellschaft GmbH for total consideration of €7,022,000.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
192,902
150,241

Trade creditors
287,786
171,333

Amounts owed to group undertakings
163,556
163,566

Other taxation and social security
468,717
285,857

Accruals and deferred income
279,381
98,071

1,392,342
869,068


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000


Page 10

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Pension commitments

The Company operates a Defined Benefit Pension Scheme.

Defined contribution schemes
The Company operates a defined contribution scheme in the UK. The pension cost charge for the defined contribution scheme represents contributions payable by the Company into that scheme of £301,603 (2023 - £284,067).
Defined benefit schemes
The Company operates a defined benefit scheme in the UK. This is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. A full actuarial valuation was carried out at 30 April 2022 and updated to 31 August 2024 by a qualified actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.
This most recent actuarial valuation showed an accounting deficit under FRS 102 of £2,389,000. The Company agreed with the trustees that it will aim to eliminate the deficit over a period of 18 years and 3 months from 1 May 2022 by the payment of monthly contributions of £16,750 per month from 1 May 2022 to 30 April 2023 and £210,000 per annum from 1 May 2023 to 31 July 2040 inclusive, increasing at 5% per annum with the first increase to take effect on 1 May 2024.
In addition and in accordance with the actuarial valuation, the Company has agreed with the trustees that it will pay monthly contributions of £8,167 as an allowance for scheme expenses and statutory levies.
Furthermore, for each financial year ending 31 August, subject to a minimum of Free Cash Flows of £400,000 (if the Net Cash Balance is less than £900,000) or £250,000 (if the Net Cash Balance is greater than £900,000) as derived from the annual company accounts, a special deficit contribution amounting to 50% of the Excess Free Cash Flows over and above the amount will be paid to the scheme. The employer may also pay additional contributions of any amount and at any time from those described above.

Page 11

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
10.Pension commitments (continued)



Reconciliation of present value of plan liabilities:


2024
2023
£
£

Reconciliation of present value of plan liabilities


At the beginning of the year
6,937,000
9,047,000

Current service cost
200,000
127,000

Interest cost
372,000
382,000

Actuarial gains
425,000
(2,143,000)

Benefits paid
(553,000)
(476,000)

At the end of the year
7,381,000
6,937,000



Reconciliation of present value of plan assets:


2024
2023
£
£


At the beginning of the year
4,604,000
5,806,000

Interest income
254,000
246,000

Actuarial gains/losses
93,000
(1,274,000)

Contributions by the company
594,000
302,000

Benefits paid
(553,000)
(476,000)

At the end of the year
4,992,000
4,604,000


Composition of plan assets:


2024
2023
£
£


Diversified liquid credit
-
485,000

Long dated nominal liability strategy
4,583,000
3,300,000

Managed growth
-
724,000

Cash
409,000
95,000

Total plan assets
4,992,000
4,604,000

Page 12

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
10.Pension commitments (continued)

 

2024
2023
£
£


Fair value of plan assets
4,992,000
4,604,000

Present value of plan liabilities
(7,381,000)
(6,937,000)

Related deferred tax asset
597,250
583,250

Net pension scheme liability
(1,791,750)
(1,749,750)


The amounts recognised in profit or loss are as follows:

2024
2023
£
£


Current service cost
(200,000)
(127,000)

Interest on obligation
(372,000)
(382,000)

Interest income on plan assets
254,000
246,000

Total
(318,000)
(263,000)



Reconciliation of fair value of plan liabilities were as follows:

2024
2023
£
£


Opening defined benefit obligation
1,507,255
356,255

Current service cost
200,000
127,000

Interest cost
372,000
382,000

Actuarial gains and (losses)
317,627
642,000

Closing defined benefit obligation
2,396,882
1,507,255


Reconciliation of fair value of plan assets were as follows:

2024
2023
£
£


Opening fair value of scheme assets
701,745
115,745

Interest income on plan assets
254,000
246,000

Contributions by employer
(594,000)
(302,000)

Actuarial losses
(317,627)
642,000

44,118
701,745
Page 13

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
10.Pension commitments (continued)


The cumulative amount of actuarial gains and losses recognised in the Statement of comprehensive income was £1,864,750 (2023 - £2,210,750).
The Company expects to contribute at least £319,423 to its Defined benefit pension scheme in 2025.





Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024
2023
%
%
Discount rate


4.9

5.5
 
Future salary increases


3.05

3.2
 
Inflation assumption


3.05

3.2
 
Mortality rates



 
- for a male aged 65 now


20.7

20.7
 
- at 65 for a male aged 45 now


21.9

22
 
- for a female aged 65 now


23.3

23.2
 
- at 65 for a female member aged 45 now


24.7

24.6
 






11.


Post balance sheet events

On 30 December 2024 the Company made an additional payment to the Trustee of the pension fund amounting to £1,725,000.

Page 14

 
THE THOMAS SAUNDERS PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Share option plans

The TTSP Holdings Limited Employee Share Option Plan ('ESOP') was set up to incentivise employees. The Board of The Thomas Saunders Partnership Limited ('TTSP') recommends to the Board of TTSP Holdings Limited those employees to whom options should be granted. If the Board of TTSP Holdings Limited is in agreement it will request that Zedra Trust Company (Guernsey) Limited (the 'Trustee') make the shares available.
The price of an option is £0.10. When an option is granted the fair value of the option at the date of grant is charged to the profit and loss account and a capital contribution to the subsidiary is recorded in the accounts of TTSP Holdings Limited. As at 31 August 2024, the ESOP held 77,774 shares (
2023 - 77,774).
During 2024 TTSP Holdings Limited did not grant any (
2023 - Nil) share options. During the year no (2023 – Nil) share options were cancelled by virtue of resignation from employment. As at 31 August 2024, 9,298 share options were unexercised (2023 – 9,298).

 
Page 15