Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-310trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0Telecommunications activities2022-02-22truefalse 10925696 2022-02-22 2023-01-31 10925696 2021-02-22 2022-02-21 10925696 2023-01-31 10925696 2022-02-21 10925696 c:Director2 2022-02-22 2023-01-31 10925696 d:CurrentFinancialInstruments 2023-01-31 10925696 d:CurrentFinancialInstruments 2022-02-21 10925696 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10925696 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-21 10925696 d:ShareCapital 2023-01-31 10925696 d:ShareCapital 2022-02-21 10925696 d:RetainedEarningsAccumulatedLosses 2023-01-31 10925696 d:RetainedEarningsAccumulatedLosses 2022-02-21 10925696 c:FRS102 2022-02-22 2023-01-31 10925696 c:AuditExempt-NoAccountantsReport 2022-02-22 2023-01-31 10925696 c:FullAccounts 2022-02-22 2023-01-31 10925696 c:PrivateLimitedCompanyLtd 2022-02-22 2023-01-31 10925696 6 2022-02-22 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 10925696










ONECORE GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2023

 
ONECORE GROUP LIMITED
REGISTERED NUMBER: 10925696

BALANCE SHEET
AS AT 31 JANUARY 2023

31 January
21 February
2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,500,000
1,500,000

  
1,500,000
1,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
35,219
11,150

Cash at bank and in hand
  
48,087
46,456

  
83,306
57,606

Creditors: amounts falling due within one year
 6 
(24,177)
(2,516)

Net current assets
  
 
 
59,129
 
 
55,090

Total assets less current liabilities
  
1,559,129
1,555,090

  

Net assets
  
1,559,129
1,555,090


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
1,558,929
1,554,890

  
1,559,129
1,555,090


Page 1

 
ONECORE GROUP LIMITED
REGISTERED NUMBER: 10925696

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

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 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 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 26 October 2023.




R Stephenson-Brown
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ONECORE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales (no 10925696). The address of the registered office is 32 Eyre Street, Sheffield, S1 4QZ. The principal activity of the  company during the year was that of a holding 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 judgement in applying the Company's accounting policies (see note 3).

The financial statements are prepared in sterling, which is the functional currency of the entity.

The following principal accounting policies have been applied:

  
2.2

Reporting period

The current period-end has been shortened from 21 February 2023 to 31 January 2023 to align with the year-end of other associated companies. As such the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

 
2.3

Going concern

The financial statements have been prepared on the basis that the company can continue to operate as a going concern.
The directors are of the opinion, based on forecasts prepared, that the company has adequate working capital to execute its operations over at least the next 12 months, from the date of approval of the accounts, and comply with the terms and conditions of its bank facilities.
Having regard to the above, the Directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

 
2.4

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.

Page 3

 
ONECORE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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.

 
2.6

Valuation of investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

 
2.8

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Page 4

 
ONECORE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 
2.9

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that  affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.


4.


Fixed asset investments








Investments in associates

£



Cost or valuation


At 22 February 2022
1,500,000



At 31 January 2023
1,500,000




Page 5

 
ONECORE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

5.


Debtors

31 January
21 February
2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
16,500
-

Other debtors
277
658

Prepayments and accrued income
18,442
10,492

35,219
11,150



6.


Creditors: Amounts falling due within one year

31 January
21 February
2023
2022
£
£

Trade creditors
6,198
2,516

Amounts owed to associated undertakings
15,229
-

Accruals and deferred income
2,750
-

24,177
2,516



7.


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 £38,580 (2022 - £49,580).


8.


Related party transactions

During the period the company charged £75,800 (2022 - £105,095) to an associated company. Amounts outstanding at the balance sheet date totalled £16,500 (2022 - £nil). Another associated company also made payments totalling £15,229 (2022 - £nil) on behalf of the company. Amounts outstanding at the balance sheet date totalled £15,229 (2022 - £nil). 
The company received dividends totalling £180,000 (2022 - £337,500) from associated companies during the period. 


9.


Controlling party

The company was under the control of the directors in the current and prior period. 


Page 6