Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31truefalsefalse2true2024-01-01No description of principal activity2 09994132 2024-01-01 2024-12-31 09994132 2023-01-01 2023-12-31 09994132 2024-12-31 09994132 2023-12-31 09994132 1 2024-01-01 2024-12-31 09994132 d:Director8 2024-01-01 2024-12-31 09994132 c:CurrentFinancialInstruments 2024-12-31 09994132 c:CurrentFinancialInstruments 2023-12-31 09994132 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 09994132 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09994132 c:ShareCapital 2024-12-31 09994132 c:ShareCapital 2023-12-31 09994132 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09994132 c:RetainedEarningsAccumulatedLosses 2024-12-31 09994132 c:RetainedEarningsAccumulatedLosses 2023-12-31 09994132 d:OrdinaryShareClass1 2024-01-01 2024-12-31 09994132 d:OrdinaryShareClass1 2024-12-31 09994132 d:OrdinaryShareClass1 2023-12-31 09994132 d:EntityHasNeverTraded 2024-01-01 2024-12-31 09994132 d:FRS102 2024-01-01 2024-12-31 09994132 d:Audited 2024-01-01 2024-12-31 09994132 d:FullAccounts 2024-01-01 2024-12-31 09994132 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09994132 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09994132 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09994132









TERANODE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TERANODE LIMITED
REGISTERED NUMBER: 09994132

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
28,846
64,481

Cash at bank and in hand
  
124,279
3,677

  
153,125
68,158

Creditors: amounts falling due within one year
 5 
(197,175)
(97,563)

Net current liabilities
  
 
 
(44,050)
 
 
(29,405)

Total assets less current liabilities
  
(44,050)
(29,405)

  

Net liabilities
  
(44,050)
(29,405)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
 7 
(44,150)
(29,505)

  
(44,050)
(29,405)


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: 




R A Liggero
Director

Date: 25 June 2025

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The principal activity of Teranode Limited ("the Company") is providing management consultancy activities.
The company is a private limited company limited by shares and is incorporated in England and Wales. 
The Registered Office address is 28-30 Market Place, London, W1W 8AP. 

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 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 financial statements have been prepared on the going concern basis, which assumes that the company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due. 
As at 31 December 2024, the Company had net current liabilities of £ 44,050. Subsequent to the year end the Company secured a long term loan facility from a fellow group company. 
The directors have reviewed group forecasts and budgets and are confident that with the long term loan facility the company has access to adequate resources to continue being in operation for the foreseeable future and that the going concern basis is appropriate  for the preparation of these financial statements. 

Page 2

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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 Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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.

 
2.5

Financial instruments

The Company only enters into basic financial instruments and 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 and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
 
Page 3

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


3.


Employees




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


        2024
        2023
            No.
            No.







Directors
2
2

Page 4

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 5

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
24,000
64,481

Other debtors
4,846
-

28,846
64,481


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


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,900
-

Amounts owed to group undertakings
181,430
-

Other creditors
-
83,703

Accruals and deferred income
11,845
13,860

197,175
97,563


Amounts owed to group undertakings were unsecured, with an interest rate of 2% per annum and is repayable by 31 October 2025


Page 6

 
TERANODE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Share Capital shares of £1.00 each
100
100



7.


Reserves

Profit and loss account

This represents cumulative profits & losses.


8.


Related party transactions

The Company has taken advantage of the exemption conferred by section 33.1A of FRS102 from the requirement to disclose transactions with other wholly owned group undertakings.


9.


Post balance sheet events

Subsequent to the year end the company has signed a commitment to take on existing service agreements and employees from a company in which the ultimate beneficial owner is a minority shareholder.


10.


Controlling party

The immediate and ultimate parent undertaking is Teranode Group AG, a company incorporated
in Liechtenstein. The registered office address is Aulestrasse 2, Vaduz, FL, 9490.
The ultimate controlling party is C Ayre.
Consolidated financial statements are prepared by the parent undertaking and are available upon request. 

11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 25 June 2025 by Michael Wedge FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 7