Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-31trueThe principal activity of the company continued to be the design and installation of office furniture.2023-11-01false1715trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02754347 2023-11-01 2024-10-31 02754347 2022-11-01 2023-10-31 02754347 2024-10-31 02754347 2023-10-31 02754347 c:Director2 2023-11-01 2024-10-31 02754347 d:Buildings d:LongLeaseholdAssets 2023-11-01 2024-10-31 02754347 d:Buildings d:LongLeaseholdAssets 2024-10-31 02754347 d:Buildings d:LongLeaseholdAssets 2023-10-31 02754347 d:LandBuildings 2024-10-31 02754347 d:LandBuildings 2023-10-31 02754347 d:MotorVehicles 2023-11-01 2024-10-31 02754347 d:MotorVehicles 2024-10-31 02754347 d:MotorVehicles 2023-10-31 02754347 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02754347 d:FurnitureFittings 2023-11-01 2024-10-31 02754347 d:FurnitureFittings 2024-10-31 02754347 d:FurnitureFittings 2023-10-31 02754347 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02754347 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02754347 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-10-31 02754347 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 02754347 d:CurrentFinancialInstruments 2024-10-31 02754347 d:CurrentFinancialInstruments 2023-10-31 02754347 d:Non-currentFinancialInstruments 2024-10-31 02754347 d:Non-currentFinancialInstruments 2023-10-31 02754347 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 02754347 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02754347 d:ShareCapital 2024-10-31 02754347 d:ShareCapital 2023-10-31 02754347 d:SharePremium 2024-10-31 02754347 d:SharePremium 2023-10-31 02754347 d:RetainedEarningsAccumulatedLosses 2024-10-31 02754347 d:RetainedEarningsAccumulatedLosses 2023-10-31 02754347 c:OrdinaryShareClass1 2023-11-01 2024-10-31 02754347 c:OrdinaryShareClass1 2024-10-31 02754347 c:OrdinaryShareClass1 2023-10-31 02754347 c:OrdinaryShareClass2 2023-11-01 2024-10-31 02754347 c:OrdinaryShareClass2 2024-10-31 02754347 c:OrdinaryShareClass2 2023-10-31 02754347 c:OrdinaryShareClass3 2023-11-01 2024-10-31 02754347 c:OrdinaryShareClass3 2024-10-31 02754347 c:OrdinaryShareClass3 2023-10-31 02754347 c:OrdinaryShareClass4 2023-11-01 2024-10-31 02754347 c:OrdinaryShareClass4 2024-10-31 02754347 c:OrdinaryShareClass4 2023-10-31 02754347 c:OrdinaryShareClass5 2023-11-01 2024-10-31 02754347 c:OrdinaryShareClass5 2024-10-31 02754347 c:FRS102 2023-11-01 2024-10-31 02754347 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 02754347 c:FullAccounts 2023-11-01 2024-10-31 02754347 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02754347 2 2023-11-01 2024-10-31 02754347 6 2023-11-01 2024-10-31 02754347 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 02754347 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 02754347 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02754347









TECHNOLOGY DESKING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
TECHNOLOGY DESKING LIMITED
REGISTERED NUMBER: 02754347

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
83,149
86,383

Investments
 6 
26,670
26,670

  
109,819
113,053

Current assets
  

Stocks
 7 
382,776
296,612

Debtors
 8 
1,436,977
1,105,511

Cash at bank and in hand
 9 
1,855,260
2,481,258

  
3,675,013
3,883,381

Creditors: amounts falling due within one year
 10 
(1,640,626)
(2,159,977)

Net current assets
  
 
 
2,034,387
 
 
1,723,404

Total assets less current liabilities
  
2,144,206
1,836,457

Provisions for liabilities
  

Deferred tax
 11 
(19,385)
(19,149)

  
 
 
(19,385)
 
 
(19,149)

Net assets
  
2,124,821
1,817,308


Capital and reserves
  

Called up share capital 
  
1,250
1,150

Share premium account
  
31,427
15,000

Profit and loss account
  
2,092,144
1,801,158

  
2,124,821
1,817,308


Page 1

 
TECHNOLOGY DESKING LIMITED
REGISTERED NUMBER: 02754347
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 comprehensive income 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: 




S Elliott
Director

Date: 25 July 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Technology Desking Limited is a private company, limited by shares, incorporated in England and Wales (registered number: 02754347). The registered office of the company is 101 New Cavendish Street,1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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

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.

 
2.3

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:

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 3

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
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 reporting 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 reporting 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 reporting date.


 
2.9

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.

 
2.10

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.

Page 5

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Motor vehicles
-
20% straight line
Fixtures and fittings
-
25% reducing balance and 33% 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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

 
2.12

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. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.13

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.

 
2.14

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 6

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

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 17 (2023 - 15).

Page 7

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Develop-ment costs

£



Cost


At 1 November 2023
42,745



At 31 October 2024

42,745



Amortisation


At 1 November 2023
42,745



At 31 October 2024

42,745



Net book value



At 31 October 2024
-



At 31 October 2023
-



Page 8

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 November 2023
77,886
101,399
359,475
538,760


Additions
-
-
17,481
17,481



At 31 October 2024

77,886
101,399
376,956
556,241



Depreciation


At 1 November 2023
70,385
77,382
304,610
452,377


Charge for the year on owned assets
3,405
4,974
12,336
20,715



At 31 October 2024

73,790
82,356
316,946
473,092



Net book value



At 31 October 2024
4,096
19,043
60,010
83,149



At 31 October 2023
7,500
24,017
54,866
86,383




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Long leasehold
4,095
7,500

4,095
7,500


Page 9

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
26,670



At 31 October 2024
26,670





7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
382,776
296,612

382,776
296,612



8.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
15,628
15,628

15,628
15,628

Due within one year

Trade debtors
756,948
446,636

Amounts owed by group undertakings
517,335
529,428

Other debtors
57,206
63,054

Prepayments and accrued income
89,860
50,765

1,436,977
1,105,511


Page 10

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,855,260
2,481,258

Less: bank overdrafts
(54,361)
-

1,800,899
2,481,258



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
54,361
-

Trade creditors
579,060
1,202,822

Corporation tax
137,200
148,016

Other taxation and social security
23,357
23,743

Other creditors
12,984
3,055

Accruals and deferred income
833,664
782,341

1,640,626
2,159,977



11.


Deferred taxation




2024


£






At beginning of year
(19,149)


Charged to profit or loss
(236)



At end of year
(19,385)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(19,385)
(19,149)

(19,385)
(19,149)

Page 11

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



60,000 (2023 - 60,000) Ordinary A shares of £0.01 each
600
600
20,000 (2023 - 20,000) Ordinary B shares of £0.01 each
200
200
20,000 (2023 - 20,000) Ordinary C shares of £0.01 each
200
200
15,000 (2023 - 15,000) Ordinary D shares of £0.01 each
150
150
10,000 (2023 - 0 ) Ordinary E shares of £0.01 each
100
-

1,250

1,150


On 29 October 2024 the company issued 10,000 Ordinary E shares of £0.01 each.


13.


Share-based payments

The company entered into a scheme to provide share option incentives for key employees on 31 March 2008. 58 Ordinary D share options were granted at an exercise price of £108.62 per share to an employee. The share options expired 10 years after the grant date.
The company entertered into an Employee Management Incentive (EMI) Scheme on 18 January 2018.  75 Ordinary share options were granted at an excercise price of £190.12 per share to 4 separate employees.


14.


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. The pension cost charge represents contributions payable by the company to the fund and amounted to £59,290 (2023 - £54,604).
£0 remained outstanding at the year end (2023 - £0).

Page 12

 
TECHNOLOGY DESKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

15.


Related party transactions

The company has two 100% owned subsidiaries, Technology Desking (Hong Kong) Limited (a company incorporated in Hong Kong) and Technology Desking, Inc (a company incorporated in the USA).
During the year, the company made sales to Technology Desking (Hong Kong) Limited, on an arms length basis, amounting to £32,715 (2023 - £79,020). The amount due outstanding from Technology Desking (Hong Kong) Limited to the company as at 31 October 2024 was £36,685 (2023 - £119,140) and is included in debtors under amounts owed by group undertakings.
During the year, the company made sales to Technology Desking, Inc, on an arms length basis, amounting to £88,860 (2023 - £47,107). The amount due outstanding from Technology Desking, Inc to the company as at 31 October 2023 was £413,436 (2023 - £410,288) and is included in debtors under amounts owed by group undertakings.
The amount outstanding from Technology Desking Trustee Limited to the company at 31 October 2024 was £67,214 (2023: £0).


16.


Controlling party

The company was under control of L K Markwick, a director, by virtue of his majority shareholding in the company up till 29 October 2024. Thereafter the comapny is under control of Technology Desking Trustee Limited.

 
Page 13