Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31No description of principal activitytruetruefalse2022-07-015The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14209923 2022-06-30 14209923 2022-07-01 2023-07-31 14209923 2021-08-01 2022-06-30 14209923 2023-07-31 14209923 c:Director2 2022-07-01 2023-07-31 14209923 d:CurrentFinancialInstruments 2023-07-31 14209923 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 14209923 d:ShareCapital 2023-07-31 14209923 d:SharePremium 2022-07-01 2023-07-31 14209923 d:SharePremium 2023-07-31 14209923 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-07-31 14209923 d:RetainedEarningsAccumulatedLosses 2023-07-31 14209923 c:OrdinaryShareClass1 2022-07-01 2023-07-31 14209923 c:OrdinaryShareClass1 2023-07-31 14209923 c:OrdinaryShareClass2 2022-07-01 2023-07-31 14209923 c:OrdinaryShareClass2 2023-07-31 14209923 c:OrdinaryShareClass3 2022-07-01 2023-07-31 14209923 c:OrdinaryShareClass3 2023-07-31 14209923 c:FRS102 2022-07-01 2023-07-31 14209923 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-07-31 14209923 c:FullAccounts 2022-07-01 2023-07-31 14209923 c:PrivateLimitedCompanyLtd 2022-07-01 2023-07-31 14209923 2 2022-07-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14209923









PREOPTIMA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2023

 
PREOPTIMA LTD
REGISTERED NUMBER: 14209923

BALANCE SHEET
AS AT 31 JULY 2023

2023
Note
£

  

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
25,412

Cash at bank and in hand
  
618,750

  
644,162

Creditors: amounts falling due within one year
 5 
(32,163)

NET CURRENT ASSETS
  
 
 
611,999

TOTAL ASSETS LESS CURRENT LIABILITIES
  
611,999

  

NET ASSETS
  
611,999


CAPITAL AND RESERVES
  

Called up share capital 
 6 
13

Share premium account
 7 
972,373

Profit and loss account
 7 
(360,387)

  
611,999


Page 1

 
PREOPTIMA LTD
REGISTERED NUMBER: 14209923
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 profit and loss account 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: 




A M Ryan
Director

Date: 21 November 2023

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

Page 2

 
PREOPTIMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

1.


GENERAL INFORMATION

Preoptima Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.

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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the Company's business plan as it progresses its research and development activities.
Given the investment received, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the forseeable future and therefore continue to adopt the going concern basis. 

 
2.3

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.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PREOPTIMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TURNOVER

Turnover comprises business and domestic software development provided during this period, exclusive of Value Added Tax. Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the Profit and Loss Account in the period to which it relates to.

 
2.5

INTEREST INCOME

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

 
2.6

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.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

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.

 
2.9

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.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 5.

Page 4

 
PREOPTIMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

4.


DEBTORS

2023
£


Trade debtors
2,315

Other debtors
15,159

Prepayments and accrued income
7,938

25,412



5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
£

Trade creditors
17,628

Other taxation and social security
10,716

Other creditors
2,019

Accruals and deferred income
1,800

32,163


Other creditors include contribuitons of £1,750 payable to the Company's defined contribution scheme at the balance sheet date. 


6.


SHARE CAPITAL

2023
£
ALLOTTED, CALLED UP AND FULLY PAID


1,034,364 Ordinary shares of £0.00001 each
10.34
37,447 Seed 1 shares of £0.00001 each
0.37
198,250 Seed 2 shares of £0.00001 each
1.98

12.69


Page 5

 
PREOPTIMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

6.SHARE CAPITAL (CONTINUED)

On incorporation 1,000,000 Ordinary £0.00001 shares were issued at par.
On 28 February  2023 34,364  Ordinary  £0.00001 shares were issued at par.
On 28 February 2023 21,429 Seed 1  £0.00001 shares were issued at £3.496 per share.
On 28 February 2023 21,429 Seed 2  £0.00001 shares were issued at £3.496 per share.
On 28 February 2023 12,896 Seed 1  £0.00001 shares were issued at £4.37 per share.
On 1 March  2023 185,354  Seed 2 £0.00001 shares were issued at £4.37 per share.
 


7.


RESERVES

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with issuing of shares are deducted from share premium

Profit and loss account

Includes all current and prior year retained profits and losses.

 
Page 6