Silverfin false 31/05/2023 01/06/2022 31/05/2023 Keith Stephen Sheers 04/03/2002 15 February 2024 The principal activity of the company in the year under review was that of creating software for options. 04384276 2023-05-31 04384276 bus:Director1 2023-05-31 04384276 2022-05-31 04384276 core:CurrentFinancialInstruments 2023-05-31 04384276 core:CurrentFinancialInstruments 2022-05-31 04384276 core:ShareCapital 2023-05-31 04384276 core:ShareCapital 2022-05-31 04384276 core:RetainedEarningsAccumulatedLosses 2023-05-31 04384276 core:RetainedEarningsAccumulatedLosses 2022-05-31 04384276 core:Goodwill 2022-05-31 04384276 core:Goodwill 2023-05-31 04384276 core:PlantMachinery 2022-05-31 04384276 core:PlantMachinery 2023-05-31 04384276 bus:OrdinaryShareClass1 2023-05-31 04384276 2022-06-01 2023-05-31 04384276 bus:FullAccounts 2022-06-01 2023-05-31 04384276 bus:SmallEntities 2022-06-01 2023-05-31 04384276 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04384276 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04384276 bus:Director1 2022-06-01 2023-05-31 04384276 core:Goodwill core:TopRangeValue 2022-06-01 2023-05-31 04384276 core:Goodwill 2022-06-01 2023-05-31 04384276 core:PlantMachinery 2022-06-01 2023-05-31 04384276 2021-06-01 2022-05-31 04384276 core:Goodwill 1 2022-06-01 2023-05-31 04384276 1 2022-06-01 2023-05-31 04384276 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 04384276 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04384276 (England and Wales)

OPTIWARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

OPTIWARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

OPTIWARE LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
OPTIWARE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTOR Keith Stephen Sheers
SECRETARY Anne Hovell
REGISTERED OFFICE 7 Alpha Court
Monks Cross Drive Huntington
York
YO32 9WN
United Kingdom
COMPANY NUMBER 04384276 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
OPTIWARE LIMITED

BALANCE SHEET

As at 31 May 2023
OPTIWARE LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 31.05.2023 31.05.2022
£ £
Fixed assets
Intangible assets 3 300,000 325,000
300,000 325,000
Current assets
Debtors 5 136,056 147,190
Cash at bank and in hand 6 44,409 63,783
180,465 210,973
Creditors: amounts falling due within one year 7 ( 24,889) ( 37,500)
Net current assets 155,576 173,473
Total assets less current liabilities 455,576 498,473
Net assets 455,576 498,473
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 455,575 498,472
Total shareholder's funds 455,576 498,473

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Optiware Limited (registered number: 04384276) were approved and authorised for issue by the Director on 15 February 2024. They were signed on its behalf by:

Keith Stephen Sheers
Director
OPTIWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
OPTIWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Optiware Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 Alpha Court, Monks Cross Drive Huntington, York, YO32 9WN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. Employees

31.05.2023 31.05.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 11 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2022 500,000 500,000
No disposals during the period. 0 0
At 31 May 2023 500,000 500,000
Accumulated amortisation
At 01 June 2022 175,000 175,000
Charge for the financial year 25,000 25,000
At 31 May 2023 200,000 200,000
Net book value
At 31 May 2023 300,000 300,000
At 31 May 2022 325,000 325,000

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 June 2022 2,523 2,523
At 31 May 2023 2,523 2,523
Accumulated depreciation
At 01 June 2022 2,523 2,523
At 31 May 2023 2,523 2,523
Net book value
At 31 May 2023 0 0
At 31 May 2022 0 0

5. Debtors

31.05.2023 31.05.2022
£ £
Amounts owed by Group undertakings 136,056 147,190

6. Cash and cash equivalents

31.05.2023 31.05.2022
£ £
Cash at bank and in hand 44,409 63,783

7. Creditors: amounts falling due within one year

31.05.2023 31.05.2022
£ £
Trade creditors 220 0
Taxation and social security 9,765 25,923
Other creditors 14,904 11,577
24,889 37,500

8. Called-up share capital

31.05.2023 31.05.2022
£ £
Allotted, called-up and fully-paid
1 ORDINARY share of £ 1.00 1 1

9. Ultimate controlling party

Keith Stephen Sheers is the ultimate controlling party by the virtue of his shareholdings in the Company.