Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31true2023-01-01false62012 - Business and domestic software development 62020 - Information technology consultancy activities33 11649627 2023-01-01 2023-12-31 11649627 2022-01-01 2022-12-31 11649627 2023-12-31 11649627 2022-12-31 11649627 2022-01-01 11649627 c:Director1 2023-01-01 2023-12-31 11649627 d:PlantMachinery 2023-12-31 11649627 d:PlantMachinery 2022-12-31 11649627 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11649627 d:CurrentFinancialInstruments 2023-12-31 11649627 d:CurrentFinancialInstruments 2022-12-31 11649627 d:Non-currentFinancialInstruments 2023-12-31 11649627 d:Non-currentFinancialInstruments 2022-12-31 11649627 d:ShareCapital 2023-01-01 2023-12-31 11649627 d:ShareCapital 2023-12-31 11649627 d:ShareCapital 2022-12-31 11649627 d:ShareCapital 2022-01-01 11649627 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11649627 d:RetainedEarningsAccumulatedLosses 2023-12-31 11649627 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11649627 d:RetainedEarningsAccumulatedLosses 2022-12-31 11649627 d:RetainedEarningsAccumulatedLosses 2022-01-01 11649627 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11649627 c:OrdinaryShareClass1 2023-12-31 11649627 c:OrdinaryShareClass1 2022-12-31 11649627 c:Micro-entities 2023-01-01 2023-12-31 11649627 c:Audited 2023-01-01 2023-12-31 11649627 c:FullAccounts 2023-01-01 2023-12-31 11649627 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11649627









OPUS PAYMENT SOLUTIONS UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
OPUS PAYMENT SOLUTIONS UK LIMITED
REGISTERED NUMBER: 11649627

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
£
£


Fixed assets
404
1,359

Current assets
160,844
120,394

Creditors: amounts falling due within one year
(40,536)
(40,569)

Net current assets
 
 
120,308
 
 
79,825

Total assets less current liabilities
120,712
81,184

Creditors: amounts falling due after more than one year
(3,106)
(4,733)

Provisions for liabilities

Deferred taxation
(101)
(532)

 
 
(101)
 
 
(532)

Net assets
117,505
75,919



Capital and reserves
117,505
75,919


Notes

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The members have not required the company to obtain an audit 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 accounts.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 March 2024.




Ramesh Laxman Mengawade
Director

Page 1

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
75,819
75,919


Comprehensive income for the year

Profit for the year
-
41,586
41,586
Total comprehensive income for the year
-
41,586
41,586


At 31 December 2023
100
117,405
117,505


The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
100
29,506
29,606


Comprehensive income for the year

Profit for the year
-
46,313
46,313
Total comprehensive income for the year
-
46,313
46,313


At 31 December 2022
100
75,819
75,919


The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
401 Margaret Powell House
Midsummer Boulevard
Milton Keynes
MK9 3BN
England
The principal place of business is:
401 Margaret Powell House
Midsummer Boulevard
Milton Keynes
MK9 3BN
England

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 Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006.

These financial statements have been prepared using the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below. The accounts are prepared in Sterling, which is the functional currency of the company. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared a trading forecast of the Company for 12 months from the date of approval of these financial statements. The forecast show that the company is expected to generate net income notably from its trading operations.
The Director has concluded that the trading forecasts for the 12 month period from the date of approval of the financial statement provides reasonable certainty that the Company has adequate  working capital resources to continue in operational existence for the foreseeable future and for these reasons continue to adopt the going concern basis of accounting in preparing these Financial Statements.

 
2.3

Revenue

Turnover :
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• The Company has transferred to the buyer the significant risks and rewards of ownership of the goods
• The Company retains neither continuing managerial involvement to the degree usually associated
 
Page 4

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Revenue (continued)

with ownership nor effective control over the goods sold
• The amount of revenue can be measured reliably
• It is probable that the economic benefits associated with the transaction will flow to the Company;
and
• The costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is
passed.

 
2.4

Foreign currency translations and balances

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

 
2.5

Current and deferred taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 
2.6

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 5

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Computer equipment
-
33.33%

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.

 
2.7

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 
2.8

Debtors

Trade and other debtors are recognised at fair value.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

  
2.10

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties When payments are eventually made, they are charged to the provision carried in the balance sheet.

  
2.11

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 6

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

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


        2023
        2022
            No.
            No.







Average number of employees
3
3


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
2,865



At 31 December 2023

2,865



Depreciation


At 1 January 2023
1,506


Charge for the year on owned assets
955



At 31 December 2023

2,461



Net book value



At 31 December 2023
404



At 31 December 2022
1,359


5.


Debtors

2023
2022
£
£


Trade debtors
79,788
19,065

Other debtors
4,743
-

Prepayments and accrued income
531
494

85,062
19,559


Page 7

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
75,782
100,835

75,782
100,835



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
10,027
11,065

Other taxation and social security
-
2,305

Other creditors
30,509
27,199

40,536
40,569



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other non-current financial liabilities
3,106
4,733

3,106
4,733



9.


Deferred taxation




2023


£






At beginning of year
(532)


Charged to profit or loss
431



At end of year
(101)

Page 8

 
OPUS PAYMENT SOLUTIONS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(101)
(532)

(101)
(532)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary Shares shares of £1.00 each
100
100



11.


Related party transactions

Summary of transactions with parent
Transaction with parent company - Opus Technologies Inc
Income and receivables from related parties 
                                                                                                                                            
Parent
2023 
                                                                                                                                         £
Revenue from operation                                                                                                        241,892
Amounts receivable from related party                                                                                    79,788                                                                                                 
                                                                                                                                            
 Parent
2022 
                                                                                                                                         £
Revenue from operation                                                                                                        224,760
Amounts receivable from related party                                                                                    10,118

 
Page 9