Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseNo description of principal activity2226truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07220827 2024-01-01 2024-12-31 07220827 2023-01-01 2023-12-31 07220827 2024-12-31 07220827 2023-12-31 07220827 c:Director2 2024-01-01 2024-12-31 07220827 d:FurnitureFittings 2024-01-01 2024-12-31 07220827 d:FurnitureFittings 2024-12-31 07220827 d:FurnitureFittings 2023-12-31 07220827 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07220827 d:OfficeEquipment 2024-01-01 2024-12-31 07220827 d:OfficeEquipment 2024-12-31 07220827 d:OfficeEquipment 2023-12-31 07220827 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07220827 d:ComputerEquipment 2024-01-01 2024-12-31 07220827 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07220827 d:CurrentFinancialInstruments 2024-12-31 07220827 d:CurrentFinancialInstruments 2023-12-31 07220827 d:Non-currentFinancialInstruments 2024-12-31 07220827 d:Non-currentFinancialInstruments 2023-12-31 07220827 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07220827 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07220827 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 07220827 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07220827 d:ShareCapital 2024-12-31 07220827 d:ShareCapital 2023-12-31 07220827 d:RetainedEarningsAccumulatedLosses 2024-12-31 07220827 d:RetainedEarningsAccumulatedLosses 2023-12-31 07220827 c:FRS102 2024-01-01 2024-12-31 07220827 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07220827 c:FullAccounts 2024-01-01 2024-12-31 07220827 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07220827 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 07220827









TESTING SOLUTIONS GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TESTING SOLUTIONS GROUP LIMITED
REGISTERED NUMBER: 07220827

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
8,682
10,198

Investments
 4 
-
2

  
8,682
10,200

Current assets
  

Debtors
 6 
797,581
1,426,580

Cash at bank and in hand
  
16,091
22,085

  
813,672
1,448,665

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 7 
(418,891)
(811,634)

Net current assets
  
 
 
394,781
 
 
637,031

Total assets less current liabilities
  
403,463
647,231

Creditors: amounts falling due after more than one year
 8 
(242,007)
-

  

Net assets
  
161,456
647,231


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
161,356
647,131

  
161,456
647,231


Page 1

 
TESTING SOLUTIONS GROUP LIMITED
REGISTERED NUMBER: 07220827
    
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 20 June 2025.


................................................
M Watson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Testing Solutions Group Limited is a private company limited by shares and is registered in England and Wales. The registered office is Dawson House, 5 Jewry Street, London, EC3N 2EX. 

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

Going concern

Company law requires the Directors to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in business. The company has reported a loss after tax for the year of £485,775 (2023: £235). The company had net assets at the balance sheet date of £161,456 (2023: £647,231).   
After reviewing the Company’s budgets, forecasts and projections, the Directors are satisfied that the company has adequate resources to enable it to meet its obligations as they fall due for a period of at least 12 months from the approval of the financial statements.

 
2.3

Revenue

Revenue represents amounts receivable for consultancy services, software testing and training courses net of VAT.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

 
2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

Page 3

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

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 the Statement of income and retained earnings 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.

 
2.7

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.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

 
2.9

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 provided on the following basis:

Fixtures and fittings
-
33%
reducing balance
Computer equipment
-
33%
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 the Statement of income and retained earnings.

Page 4

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

  
2.11

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

 
2.12

Debtors

Short term debtors are measured at transaction price, 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.

 
2.14

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 26).

Page 5

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Fixed asset investments





Investments in subsidiary companies

£





At 1 January 2024
2


Amounts written off
(2)



At 31 December 2024
-





5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
74,937
38,622
113,559


Additions
-
1,334
1,334



At 31 December 2024

74,937
39,956
114,893



Depreciation


At 1 January 2024
73,432
29,929
103,361


Charge for the year on owned assets
432
2,418
2,850



At 31 December 2024

73,864
32,347
106,211



Net book value



At 31 December 2024
1,073
7,609
8,682



At 31 December 2023
1,505
8,693
10,198

Page 6

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors


2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
94,139
815,492

94,139
815,492

Due within one year

Trade debtors
-
277,752

Other debtors
686,946
316,952

Prepayments and accrued income
16,496
16,384

797,581
1,426,580



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
205,539

Other loans
128,584
66,388

Trade creditors
62,813
144,422

Corporation tax
94,650
68,598

Other taxation and social security
26,029
172,624

Other creditors
94,815
81,359

Accruals and deferred income
12,000
72,704

418,891
811,634



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
242,007
-

242,007
-


Page 7

 
TESTING SOLUTIONS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £29,098 (2023 - £31,437). Contributions totalling £72,859 (2023 - £57,663) were payable to the funds at the reporting date and are included in creditors.


10.


Related party transactions

As at balance sheet date, directors' M Watson and M Robson owe the company £252,705 and £260,899 respectively.


11.


Controlling party

The ultimate controlling party is TSG Assurance Holdings Limited, a company registered in England and Wales under number 09989416.

 
Page 8