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Registered number: 09542083










Legacy Tribute UK Limited










Financial statements

For the period ended 31 July 2024

 
Legacy Tribute UK Limited
Registered number: 09542083

Balance sheet
As at 31 July 2024

31 July
29 July
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
153
1,096

Current assets
  

Stocks
  
409,818
328,286

Debtors: amounts falling due within one year
 6 
281,256
270,462

Cash at bank and in hand
  
65,858
54,635

  
756,932
653,383

Creditors: amounts falling due within one year
 7 
(1,239,022)
(1,058,882)

Net current liabilities
  
 
 
(482,090)
 
 
(405,499)

  

Net liabilities
  
(481,937)
(404,403)


Capital and reserves
  

Called up share capital 
 8 
150
150

Profit and loss account
  
(482,087)
(404,553)

  
(481,937)
(404,403)


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: 




C Dumont
Director
Date: 14 July 2025

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

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

1.


General information

Legacy Tribute UK Limited is a private company limited by shares and is incorporated in England with registration number 09542083. The registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU.

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 company's financial statements have been prepared to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities of £482,090. Whilst the company is in a net current liability position as a result of amounts owed to fellow Victoriaville Group companies, the directors do not expect that such support will be withdrawn in a manner that is prejudicial to the company's ability to continue in operation. The company has received confirmation of this ongoing support as at the date of the approval of these financial statements.
The company's directors therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue recognition

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pounds sterling.

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.

 
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

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.

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 3

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.7

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

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.

The estimated useful lives range as follows:

Fixtures and fittings
-
4
years
Computer equipment
-
3
years

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.
Page 4

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.11

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.


3.


Auditor's information

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

The audit report was signed on 15 July 2025 by Mark Attwood FCCA (senior statutory auditor) on behalf of Kreston Reeves LLP.


4.


Employees

The average monthly number of employees, including directors, during the period was 4 (2023 - 4).


5.


Tangible fixed assets







Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 30 July 2023
5,569
2,033
7,602



At 31 July 2024

5,569
2,033
7,602



Depreciation


At 30 July 2023
4,645
1,861
6,506


Charge for the period on owned assets
802
141
943



At 31 July 2024

5,447
2,002
7,449



Net book value



At 31 July 2024
122
31
153



At 29 July 2023
924
172
1,096
Page 5

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

6.


Debtors

31 July
29 July
2024
2023
£
£


Trade debtors
244,086
267,010

Other debtors
31,510
-

Prepayments and accrued income
5,660
3,452

281,256
270,462



7.


Creditors: Amounts falling due within one year

31 July
29 July
2024
2023
£
£

Trade creditors
23,682
(11,005)

Amounts owed to group undertakings
1,190,589
1,007,593

Other taxation and social security
13
7,678

Other creditors
4,738
8,882

Accruals and deferred income
20,000
45,734

1,239,022
1,058,882



8.


Share capital

31 July
29 July
2024
2023
£
£
Allotted, called up and fully paid



150 (2023 - 150) A Ordinary shares of £1 each
150
150



9.


Related party transactions

The company has received unsecured loans from fellow group undertakings, which are repayable on demand. Interest payments on these loans range between 0% and 2% per annum. At as 31 July 2024  the outstanding balance on the loans was £1,190,589 (2023 - £1,007,593).
All other related party transactions during the current and prior periods were made under normal market conditions.

Page 6

 
Legacy Tribute UK Limited
 

 
Notes to the financial statements
For the period ended 31 July 2024

10.


Controlling party

The company is a 70% subsidiary undertaking of 9316-7476 Quebec Inc., a company incorporated in Canada.
The directors regard Placements C.V.R. Dumont Inc., a company incorporated in Canada, to be the company's ultimate parent undertaking. 

Page 7