Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31112022-06-01falseprofessional services associated with land andbuilding development11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08179892 2022-06-01 2023-05-31 08179892 2021-06-01 2022-05-31 08179892 2023-05-31 08179892 2022-05-31 08179892 c:Director1 2022-06-01 2023-05-31 08179892 d:OfficeEquipment 2022-06-01 2023-05-31 08179892 d:OfficeEquipment 2023-05-31 08179892 d:OfficeEquipment 2022-05-31 08179892 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08179892 d:ComputerEquipment 2022-06-01 2023-05-31 08179892 d:ComputerEquipment 2023-05-31 08179892 d:ComputerEquipment 2022-05-31 08179892 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08179892 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08179892 d:CurrentFinancialInstruments 2023-05-31 08179892 d:CurrentFinancialInstruments 2022-05-31 08179892 d:Non-currentFinancialInstruments 2023-05-31 08179892 d:Non-currentFinancialInstruments 2022-05-31 08179892 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08179892 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 08179892 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08179892 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 08179892 d:ShareCapital 2023-05-31 08179892 d:ShareCapital 2022-05-31 08179892 d:RetainedEarningsAccumulatedLosses 2023-05-31 08179892 d:RetainedEarningsAccumulatedLosses 2022-05-31 08179892 c:OrdinaryShareClass1 2022-06-01 2023-05-31 08179892 c:OrdinaryShareClass1 2023-05-31 08179892 c:OrdinaryShareClass1 2022-05-31 08179892 c:OrdinaryShareClass2 2022-06-01 2023-05-31 08179892 c:OrdinaryShareClass2 2023-05-31 08179892 c:OrdinaryShareClass2 2022-05-31 08179892 c:FRS102 2022-06-01 2023-05-31 08179892 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08179892 c:FullAccounts 2022-06-01 2023-05-31 08179892 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08179892 d:EntityControlledByKeyManagementPersonnel1 2022-06-01 2023-05-31 08179892 d:EntityControlledByKeyManagementPersonnel1 2021-06-01 2022-05-31 08179892 d:EntityControlledByKeyManagementPersonnel1 2023-05-31 08179892 d:EntityControlledByKeyManagementPersonnel1 2022-05-31 08179892 d:WithinOneYear 2023-05-31 08179892 d:WithinOneYear 2022-05-31 08179892 d:BetweenOneFiveYears 2023-05-31 08179892 d:BetweenOneFiveYears 2022-05-31 08179892 2 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08179892










OPTIMIS CONSULTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
OPTIMIS CONSULTING LIMITED
REGISTERED NUMBER: 08179892

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,245
4,422

Current assets
  

Debtors
 5 
604,163
302,638

Cash at bank and in hand
 6 
570,087
909

  
1,174,250
303,547

Creditors: amounts falling due within one year
 7 
(925,816)
(156,084)

Net current assets
  
 
 
248,434
 
 
147,463

Total assets less current liabilities
  
250,679
151,885

Creditors: amounts falling due after more than one year
 8 
(37,879)
(54,545)

  

Net assets
  
212,800
97,340


Capital and reserves
  

Called up share capital 
 9 
15
15

Profit and loss account
  
212,785
97,325

  
212,800
97,340


Page 1

 
OPTIMIS CONSULTING LIMITED
REGISTERED NUMBER: 08179892
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The Director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his 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 by: 




................................................
Justin D Wickersham
Director

Date: 22 February 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Optimis Consulting Limited is a private limited company, incorporated in England and Wales.
The registered office is Moorgate House, 201 Silbury Boulevard, Milton Keynes, MK9 1LZ.
The principal place of business is 16 St Cuthbert's Street, Bedford, MK40 3JG.

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

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

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.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
per annum
Computer equipment
-
25%
per annum

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

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 profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the 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.

Page 5

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.14

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.

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.

 
2.15

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.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).

Page 6

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost


At 1 June 2022
23,046
20,506
43,552


Additions
264
209
473


Disposals
-
(285)
(285)



At 31 May 2023

23,310
20,430
43,740



Depreciation


At 1 June 2022
22,683
16,447
39,130


Charge for the year on owned assets
182
2,468
2,650


Disposals
-
(285)
(285)



At 31 May 2023

22,865
18,630
41,495



Net book value



At 31 May 2023
445
1,800
2,245



At 31 May 2022
363
4,059
4,422

Page 7

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
469,171
70,882

Amounts owed by group companies
1,285
1,285

Amounts owed by associated undertakings
-
109,340

Other debtors
4,725
-

Prepayments and accrued income
91,337
50,019

Tax recoverable
-
33,467

Deferred taxation
37,645
37,645

604,163
302,638


No value for amounts recoverable on long term contracts has been recognised as at 31 May 2023 as no revenue is recognised in advance for contingent work.
Amounts owed by group companies and associated undertakings are unsecured, interest free and repayable on demand.


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
570,087
909

Less: bank overdrafts
(108)
(6,275)

569,979
(5,366)


Page 8

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
108
6,275

Bank loans
18,181
18,182

Trade creditors
10,589
26,152

Amounts owed to associated undertakings
770,034
70,317

Corporation tax
36,996
-

Other taxation and social security
87,358
33,258

Accruals and deferred income
2,550
1,900

925,816
156,084


Bank loans and overdrafts totalling £18,289 (2022: £24,457) are secured by the company.
Amounts owed to associated undertakings are unsecured, interest free and repayable on demand.

2023
2022
£
£

Other taxation and social security

VAT
87,358
33,258



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
37,879
54,545


Bank loans totalling £37,879 (2022: £54,545) are secured by the company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10
5 (2022 - 5) Ordinary A shares of £1.00 each
5
5

15

15

Page 9

 
OPTIMIS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.Share capital (continued)

The Ordinary shares hold full rights to voting, capital distributions and dividends.
The Ordinary A shares hold no voting or capital distribution rights.  The shares may be considered by the Director when considering dividends from time to time.



10.


Commitments under operating leases

At 31 May 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
153,005
153,005

Later than 1 year and not later than 5 years
53,552
84,153

206,557
237,158


11.


Related party transactions

Aggregate remuneration to directors totalled £9,678 (2022: £8,883), excluding employer pension contributions of £147,000 (2022: £12,000) and aggregate dividends to directors totalled £44,500 (2022: £9,000).
At the balance sheet date the Company owed a balance of £770,034 (2022: £70,317) to and was owed a balance of £1,285 (2022: £110,625) from companies under common control, in respect of amounts loaned. Management charges of £45,000 (2022: £45,000) were also receivable for the year from these companies.


12.


Parent company

The Company is a majority owned subsidiary of Optimis Group Limited.

 
Page 10