ACCOUNTS - Final Accounts

TECHNOLOGY ENHANCED TRANSITION PLC - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2021-12-312021-12-312021-04-08falsefalsetrue2 13322168 2021-04-07 13322168 2021-04-08 2021-12-31 13322168 2020-01-01 2021-04-07 13322168 2021-12-31 13322168 c:CompanySecretary1 2021-04-08 2021-12-31 13322168 c:Director1 2021-04-08 2021-12-31 13322168 c:Director1 2021-12-31 13322168 c:Director2 2021-04-08 2021-12-31 13322168 c:Director2 2021-12-31 13322168 c:RegisteredOffice 2021-04-08 2021-12-31 13322168 d:CurrentFinancialInstruments 2021-12-31 13322168 d:ShareCapital 2021-04-08 2021-12-31 13322168 d:ShareCapital 2021-12-31 13322168 c:OrdinaryShareClass1 2021-04-08 2021-12-31 13322168 c:OrdinaryShareClass1 2021-12-31 13322168 c:EntityHasNeverTraded 2021-04-08 2021-12-31 13322168 c:FRS102 2021-04-08 2021-12-31 13322168 c:AuditExempt-NoAccountantsReport 2021-04-08 2021-12-31 13322168 c:FullAccounts 2021-04-08 2021-12-31 13322168 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2021-04-08 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company registration number: 13322168

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TECHNOLOGY ENHANCED TRANSITION PLC

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UNAUDITED

ANNUAL REPORT

FOR THE PERIOD ENDED

31 DECEMBER 2021


TECHNOLOGY ENHANCED TRANSITION PLC

CONTENTS

	Page
Company Information	1
Strategic Report	2
Directors' Report	3
Profit and Loss Account	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 - 9


TECHNOLOGY ENHANCED TRANSITION PLC

COMPANY INFORMATION

Directors	M. C. Samuel
	S. Lamoine


Company secretary	D. Smith


Registered number	13322168


Registered office	Salisbury House
	London Wall
	London
	EC2M 5PS

Page 1


TECHNOLOGY ENHANCED TRANSITION PLC

STRATEGIC REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2021

Introduction

The Directors of the Company present their Strategic Report for the period from the Company’s incorporation on 8 April 2021 to 31 December 2021.

Principal activity

The Company was dormant throughout the period.

Corporate structure

The Company is a 100% owned subsidiary of Beam Earth Limited.

This report was approved by the board on 23 January 2023 and signed on its behalf by:

M. C. Samuel

Director

Page 2


TECHNOLOGY ENHANCED TRANSITION PLC

DIRECTORS' REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2021

The directors present their report and the financial statements for the period ended 31 December 2021.

Principal activity

The Company was incorporated on 8 April 2021 and was dormant throughout the period.

Directors

The directors who served during the period were:

M. C. Samuel (appointed 8 April 2021)

S. Lamoine (appointed 8 April 2021)

Results and dividends

The Company did not trade during the period, and therefore the profit for the period, after taxation was £nil. No dividend is proposed for the period ended 31 December 2021.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board on 23 January 2023 and signed on its behalf by:

M. C. Samuel

Director

Page 3


TECHNOLOGY ENHANCED TRANSITION PLC

PROFIT AND LOSS ACCOUNT

FOR THE PERIOD ENDED 31 DECEMBER 2021

The Company has not traded during the period. During this period, the Company received no income and incurred no expenditure and therefore made neither profit or loss.

Page 4


TECHNOLOGY ENHANCED TRANSITION PLC REGISTERED NUMBER:13322168

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021
Note		£


Current assets
Debtors	5	50,000
		50,000
Total assets less current liabilities			50,000

Net assets			50,000

Capital and reserves
Called up share capital	6	50,000
		50,000

For the period ended 31 December 2021 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

The members have not required the Company to obtain an audit for the period 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 on pages 4 to 9 were approved and authorised for issue by the board and were signed on its behalf on 23 January 2023.

M. C. Samuel

Director

Page 5


TECHNOLOGY ENHANCED TRANSITION PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2021

	Called up share capital	Total equity
	£	£
Total comprehensive income for the period	-	-

Shares issued during the period	50,000	50,000
Total transactions with owners	50,000	50,000
At 31 December 2021	50,000	50,000

Page 6


TECHNOLOGY ENHANCED TRANSITION PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

1.Accounting policies

1.1

Statement of compliance

The Company was incorporated on 8 April 2021, and the financial statements have been prepared for the period from incorporation to 31 December 2021. The Company did not trade during the period.
Technology Enhanced Transition Plc is a public limited company incorporated and domiciled in England and Wales. The address of its registered office is Salisbury House, London Wall, London, England, EC2M 5PS.

1.2

Basis of preparation of financial statements

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, Financial Reporting Standard 102, ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (“FRS 102”) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

1.3

Exemptions for qualifying entities under FRS 102

FRS 102 allows a qualifying entity certain disclosure exemptions. The Company has taken advantage of the exemption under FRS 102 paragraph 1.12(b) from preparing a Statement of Cash Flows, on the basis that it is a qualifying entity and its parent company, Beam Earth Limited, includes the Company's cash flows in its consolidated accounts. The financial statements of Beam Earth Limited can be obtained from: Salisbury House, London Wall, London, EC2M 5PS.

1.4

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in ‘administrative expenses’.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.5

Share capital

Ordinary shares are classified as equity.

Page 7


TECHNOLOGY ENHANCED TRANSITION PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.	Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst management have made judgements, estimates and assumptions in preparing the financial statements, they consider that these have not had a significant effect on amounts recognised.

Employees

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

			2021
			No.

		Directors	2

4.	Directors' remuneration

No amounts were paid or payable by the Company or any other entity for services provided to the Company by its directors during the period.

Debtors

					2021
					£


	Amounts owed by group undertakings	50,000

Amounts owed by group undertakings are interest-free and payable on demand.

6.	Share capital
		2021
		£

		Allotted, called up and fully paid

		50,000 Ordinary shares of £1.00 each	50,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.
On incorporation, the Company issued 50,000 ordinary shares at nominal value.

Page 8


TECHNOLOGY ENHANCED TRANSITION PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

7.	Ultimate controlling party and parent undertaking

The Company is 100% owned by Beam Earth Limited, a company incorporated in England and Wales.
Beam Earth Limited is the parent of the smallest and largest group of undertakings for which group accounts have been drawn up and of which the Company is a member. The registered office of Beam Earth Limited is Salisbury House, London Wall, London, EC2M 5PS.

Page 9