Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-302023-10-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2422falsefalse 07035669 2023-10-01 2024-09-30 07035669 2022-10-01 2023-09-30 07035669 2024-09-30 07035669 2023-09-30 07035669 c:Director1 2023-10-01 2024-09-30 07035669 d:MotorVehicles 2023-10-01 2024-09-30 07035669 d:MotorVehicles 2024-09-30 07035669 d:MotorVehicles 2023-09-30 07035669 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07035669 d:OfficeEquipment 2023-10-01 2024-09-30 07035669 d:OfficeEquipment 2024-09-30 07035669 d:OfficeEquipment 2023-09-30 07035669 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07035669 d:ComputerEquipment 2023-10-01 2024-09-30 07035669 d:ComputerEquipment 2024-09-30 07035669 d:ComputerEquipment 2023-09-30 07035669 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07035669 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07035669 d:CurrentFinancialInstruments 2024-09-30 07035669 d:CurrentFinancialInstruments 2023-09-30 07035669 d:Non-currentFinancialInstruments 2024-09-30 07035669 d:Non-currentFinancialInstruments 2023-09-30 07035669 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 07035669 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07035669 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 07035669 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 07035669 d:ShareCapital 2024-09-30 07035669 d:ShareCapital 2023-09-30 07035669 d:RetainedEarningsAccumulatedLosses 2024-09-30 07035669 d:RetainedEarningsAccumulatedLosses 2023-09-30 07035669 c:FRS102 2023-10-01 2024-09-30 07035669 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07035669 c:FullAccounts 2023-10-01 2024-09-30 07035669 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07035669 2 2023-10-01 2024-09-30 07035669 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 07035669 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 07035669 d:OtherDeferredTax 2024-09-30 07035669 d:OtherDeferredTax 2023-09-30 07035669 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 07035669










TUGELA PEOPLE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
TUGELA PEOPLE LTD
REGISTERED NUMBER: 07035669

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
54,180
42,454

  
54,180
42,454

Current assets
  

Debtors: amounts falling due within one year
 5 
347,100
196,801

Cash at bank and in hand
 6 
216,685
140,341

  
563,785
337,142

Creditors: amounts falling due within one year
 7 
(378,364)
(190,052)

Net current assets
  
 
 
185,421
 
 
147,090

Total assets less current liabilities
  
239,601
189,544

Creditors: amounts falling due after more than one year
 8 
(47,261)
(83,681)

Provisions for liabilities
  

Deferred tax
 9 
(7,376)
(8,055)

  
 
 
(7,376)
 
 
(8,055)

Net assets
  
184,964
97,808


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
184,864
97,708

  
184,964
97,808


Page 1

 
TUGELA PEOPLE LTD
REGISTERED NUMBER: 07035669
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 by: 




................................................
Mr T Schilling
Director

Date: 30 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Tugela People Ltd is a private company limited by shares, incorporated in England and Wales, registered number 07035669. The registered office and principal place of business is Scorpio F.1, Linford Wood Business Park, Rockingham Drive, Milton Keynes, England, MK14 6LY.

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

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

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.

 
2.4

Interest income

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

Page 3

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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

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 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 4

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Straight line
Office equipment
-
20%
Straight line
Computer equipment
-
25%
Straight line

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.

Page 5

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
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.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
 

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 22).

Page 6

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
37,250
12,846
39,221
89,317


Additions
-
75
28,864
28,939



At 30 September 2024

37,250
12,921
68,085
118,256



Depreciation


At 1 October 2023
10,313
9,654
26,896
46,863


Charge for the year on owned assets
6,187
2,590
8,436
17,213



At 30 September 2024

16,500
12,244
35,332
64,076



Net book value



At 30 September 2024
20,750
677
32,753
54,180



At 30 September 2023
26,937
3,192
12,325
42,454


5.


Debtors

2024
2023
£
£


Trade debtors
260,713
180,806

Other debtors
55,822
2,018

Prepayments and accrued income
30,565
13,977

347,100
196,801


Page 7

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
216,685
140,341



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,007
30,014

Trade creditors
85,152
22,328

Corporation tax
57,001
29,872

Other taxation and social security
68,626
39,710

Obligations under finance lease and hire purchase contracts
4,609
5,977

Other creditors
4,138
3,380

Accruals and deferred income
126,831
58,771

378,364
190,052



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
32,426
64,433

Net obligations under finance leases and hire purchase contracts
14,835
19,248

47,261
83,681


Page 8

 
TUGELA PEOPLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Deferred taxation




2024


£






At beginning of year
(8,055)


Charged to profit or loss
679



At end of year
(7,376)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
8,410
8,900

Short term timing differences
(1,034)
(845)

7,376
8,055


10.


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. Contributions totalling £4,138 (2023 - £3,380) were payable to the fund at the Balance Sheet date and are included in creditors.

 
Page 9