Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31No description of principal activity132024-04-01false13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03880729 2024-04-01 2025-03-31 03880729 2023-04-01 2024-03-31 03880729 2025-03-31 03880729 2024-03-31 03880729 2023-04-01 03880729 c:Director1 2024-04-01 2025-03-31 03880729 c:Director3 2024-04-01 2025-03-31 03880729 d:Buildings 2024-04-01 2025-03-31 03880729 d:Buildings 2025-03-31 03880729 d:Buildings 2024-03-31 03880729 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03880729 d:Buildings d:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03880729 d:PlantMachinery 2024-04-01 2025-03-31 03880729 d:PlantMachinery 2025-03-31 03880729 d:PlantMachinery 2024-03-31 03880729 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03880729 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03880729 d:MotorVehicles 2024-04-01 2025-03-31 03880729 d:MotorVehicles 2025-03-31 03880729 d:MotorVehicles 2024-03-31 03880729 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03880729 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03880729 d:FurnitureFittings 2024-04-01 2025-03-31 03880729 d:FurnitureFittings 2025-03-31 03880729 d:FurnitureFittings 2024-03-31 03880729 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03880729 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03880729 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 03880729 d:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03880729 d:Goodwill 2024-04-01 2025-03-31 03880729 d:Goodwill 2025-03-31 03880729 d:Goodwill 2024-03-31 03880729 d:CurrentFinancialInstruments 2025-03-31 03880729 d:CurrentFinancialInstruments 2024-03-31 03880729 d:Non-currentFinancialInstruments 2025-03-31 03880729 d:Non-currentFinancialInstruments 2024-03-31 03880729 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 03880729 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03880729 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 03880729 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03880729 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 03880729 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 03880729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 03880729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 03880729 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2025-03-31 03880729 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 03880729 d:ShareCapital 2025-03-31 03880729 d:ShareCapital 2024-03-31 03880729 d:CapitalRedemptionReserve 2025-03-31 03880729 d:CapitalRedemptionReserve 2024-03-31 03880729 d:RetainedEarningsAccumulatedLosses 2025-03-31 03880729 d:RetainedEarningsAccumulatedLosses 2024-03-31 03880729 c:OrdinaryShareClass1 2024-04-01 2025-03-31 03880729 c:OrdinaryShareClass1 2025-03-31 03880729 c:OrdinaryShareClass1 2024-03-31 03880729 c:OrdinaryShareClass2 2024-04-01 2025-03-31 03880729 c:OrdinaryShareClass2 2025-03-31 03880729 c:OrdinaryShareClass2 2024-03-31 03880729 c:OrdinaryShareClass3 2024-04-01 2025-03-31 03880729 c:OrdinaryShareClass3 2025-03-31 03880729 c:OrdinaryShareClass3 2024-03-31 03880729 c:FRS102 2024-04-01 2025-03-31 03880729 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03880729 c:FullAccounts 2024-04-01 2025-03-31 03880729 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03880729 d:WithinOneYear 2025-03-31 03880729 d:WithinOneYear 2024-03-31 03880729 d:BetweenOneFiveYears 2025-03-31 03880729 d:BetweenOneFiveYears 2024-03-31 03880729 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 03880729 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03880729 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03880729














TEAKCROFT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025

 
TEAKCROFT LIMITED
REGISTERED NUMBER:03880729

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
                                                                      Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
1
1

Tangible assets
 5 
311,117
528,226

  
311,118
528,227

CURRENT ASSETS
  

Stocks
  
43,145
49,391

Debtors: amounts falling due within one year
 6 
492,383
425,397

Cash at bank and in hand
  
577,566
250,427

  
1,113,094
725,215

Creditors: amounts falling due within one year
 7 
(369,575)
(410,068)

NET CURRENT ASSETS
  
 
 
743,519
 
 
315,147

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,054,637
843,374

Creditors: amounts falling due after more than one year
 8 
(4,794)
(142,579)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(75,742)
(49,137)

  
 
 
(75,742)
 
 
(49,137)

NET ASSETS
  
974,101
651,658


CAPITAL AND RESERVES
  

Called up share capital 
 11 
180
180

Capital redemption reserve
  
88
88

Profit and loss account
  
973,833
651,390

  
974,101
651,658

Page 1

 
TEAKCROFT LIMITED
REGISTERED NUMBER:03880729

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

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 28 July 2025.




___________________________
Mr P Oldman
___________________________
Mrs S Oldman
Director
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
TEAKCROFT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Teakcroft Limited is a private company limited by shares incorporated in England and Wales. 
The registered company number is 03880729.
The registered office of the company is Carlton Park Industrial Estate, Main Road, Carlton, Saxmundham, Suffolk, IP17 2NL.

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:

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.

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other 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.

Page 3

 
TEAKCROFT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance basis, 5% straight line basis, 6.3% straight Line basis, 10% straight line basis
Motor vehicles
-
25% reducing balance basis
Fixtures and fittings
-
20% reducing balance basis

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.

 
2.5

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 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.

 
2.6

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.

 
2.7

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.

 
2.8

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 4

 
TEAKCROFT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

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.

Page 5

 
TEAKCROFT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.15

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2024 - 13).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2024
1



At 31 March 2025

1






Net book value



At 31 March 2025
1



At 31 March 2024
1



Page 6

 
TEAKCROFT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2024
454,641
958,596
199,473
47,000
1,659,710


Additions
-
131,310
40,000
4,837
176,147


Disposals
(454,641)
-
(58,659)
(16,499)
(529,799)



At 31 March 2025

-
1,089,906
180,814
35,338
1,306,058



Depreciation


At 1 April 2024
137,403
822,011
132,005
40,065
1,131,484


Charge for the year on owned assets
3,030
50,084
3,859
1,032
58,005


Charge for the year on financed assets
-
-
16,083
-
16,083


Disposals
(140,433)
-
(56,543)
(13,655)
(210,631)



At 31 March 2025

-
872,095
95,404
27,442
994,941



Net book value



At 31 March 2025
-
217,811
85,410
7,896
311,117



At 31 March 2024
317,238
136,585
67,468
6,935
528,226


6.


Debtors

2025
2024
£
£


Trade debtors
473,767
399,445

Other debtors
-
12,878

Prepayments and accrued income
18,616
13,074

492,383
425,397




Page 7

 
TEAKCROFT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
10,000
23,823

Trade creditors
244,799
225,050

Corporation tax
27,180
72,976

Other taxation and social security
63,106
41,985

Obligations under finance lease and hire purchase contracts
-
34,150

Other creditors
16,357
7,584

Accruals and deferred income
8,133
4,500

369,575
410,068



8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
4,794
142,579

4,794
142,579



9.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
10,000
23,823

Amounts falling due 1-2 years

Bank loans
4,794
23,824

Amounts falling due 2-5 years

Bank loans
-
74,054

Amounts falling due after more than 5 years

Bank loans
-
44,701

14,794
166,402


Bank loans are secured by a fixed and floating charge over the freehold property held by the company.

Page 8

 
TEAKCROFT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Deferred taxation




2025
2024


£

£






At beginning of year
(49,137)
(65,220)


Charged to profit or loss
(26,605)
16,083



At end of year
(75,742)
(49,137)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
75,742
49,137

75,742
49,137


11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



60 (2024 - 60) A Ordinary shares of £1.00 each
60
60
60 (2024 - 60) B Ordinary shares of £1.00 each
60
60
60 (2024 - 60) C Ordinary shares of £1.00 each
60
60

180

180



12.


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 £2,643 (2024 - £5,955). Contributions totalling £1,478 (2024 - £1,170) were payable to the fund at the balance sheet date and are iincluded in creditors.

Page 9

 
TEAKCROFT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

13.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
60,000
-

Later than 1 year and not later than 5 years
200,000
-

260,000
-

Page 10