Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31No description of principal activity2023-01-01false8984truetrue 12117789 2023-01-01 2023-12-31 12117789 2022-01-01 2022-12-31 12117789 2023-12-31 12117789 2022-12-31 12117789 c:Director2 2023-01-01 2023-12-31 12117789 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 12117789 d:Buildings d:ShortLeaseholdAssets 2023-12-31 12117789 d:Buildings d:ShortLeaseholdAssets 2022-12-31 12117789 d:PlantMachinery 2023-01-01 2023-12-31 12117789 d:PlantMachinery 2023-12-31 12117789 d:PlantMachinery 2022-12-31 12117789 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12117789 d:MotorVehicles 2023-01-01 2023-12-31 12117789 d:MotorVehicles 2023-12-31 12117789 d:MotorVehicles 2022-12-31 12117789 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12117789 d:FurnitureFittings 2023-01-01 2023-12-31 12117789 d:FurnitureFittings 2023-12-31 12117789 d:FurnitureFittings 2022-12-31 12117789 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12117789 d:OfficeEquipment 2023-01-01 2023-12-31 12117789 d:OfficeEquipment 2023-12-31 12117789 d:OfficeEquipment 2022-12-31 12117789 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12117789 d:ComputerEquipment 2023-01-01 2023-12-31 12117789 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12117789 d:CurrentFinancialInstruments 2023-12-31 12117789 d:CurrentFinancialInstruments 2022-12-31 12117789 d:Non-currentFinancialInstruments 2023-12-31 12117789 d:Non-currentFinancialInstruments 2022-12-31 12117789 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12117789 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12117789 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12117789 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12117789 d:ShareCapital 2023-12-31 12117789 d:ShareCapital 2022-12-31 12117789 d:RetainedEarningsAccumulatedLosses 2023-12-31 12117789 d:RetainedEarningsAccumulatedLosses 2022-12-31 12117789 c:FRS102 2023-01-01 2023-12-31 12117789 c:Audited 2023-01-01 2023-12-31 12117789 c:FullAccounts 2023-01-01 2023-12-31 12117789 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12117789 d:WithinOneYear 2023-12-31 12117789 d:WithinOneYear 2022-12-31 12117789 d:BetweenOneFiveYears 2023-12-31 12117789 d:BetweenOneFiveYears 2022-12-31 12117789 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12117789 6 2023-01-01 2023-12-31 12117789 d:KeyManagementPersonnel 2023-01-01 2023-12-31 12117789 d:KeyManagementPersonnel 2023-12-31 12117789 d:KeyManagementPersonnel 2022-12-31 iso4217:GBP xbrli:pure


















Options Greathire Limited
























Financial statements



For the year ended 31 December 2023



Registered number: 12117789

 
Options Greathire Limited - Registered number: 12117789

Statement of financial position
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,678,672
1,785,449

Investments
 5 
849,999
-

  
3,528,671
1,785,449

Current assets
  

Stocks
  
107,004
99,412

Debtors
 6 
2,136,772
832,000

Cash at bank and in hand
  
236,308
1,427,480

  
2,480,084
2,358,892

Creditors: amounts falling due within one year
 7 
(3,688,260)
(2,075,912)

Net current (liabilities)/assets
  
 
 
(1,208,176)
 
 
282,980

Total assets less current liabilities
  
2,320,495
2,068,429

Creditors: amounts falling due after more than one year
 8 
(6,094)
(11,781)

  

Net assets
  
2,314,401
2,056,648


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
2,214,401
1,956,648

  
2,314,401
2,056,648


Page 1

 
Options Greathire Limited - Registered number: 12117789

Statement of financial position (continued)
As at 31 December 2023

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 comprehensive income 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 on 31 May 2024.and were signed on its behalf by:




O Genty
Director

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

Page 2

 
Options Greathire Limited

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Options Greathire Limited is a private company limited by shares and incorporated in England and Wales. The company registration number is 12117789. The registered office and principal address is Unit 602, Central Way, North Feltham Trading Estate, Feltham, TW14 0RX.

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 Republic of Ireland ('FRS 102') and the Companies Act 2006.
The company has taken the exemption in Section 405 of the Companies Act 2006 that permits a subsidiary to be excluded from consolidation where its inclusion is not material for the purposes of giving a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

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:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
Options Greathire Limited

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the company as lessee

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
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.

Page 4

 
Options Greathire Limited

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

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.

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:

Leasehold property
-
Over the term of the lease
Plant and machinery-rental
-
2-6 years
Motor vehicles
-
5-10 years
Fixtures and fittings
-
10 years
Office equipment
-
3 years
Plant and machinery- other
-
4-10 years

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate portion of fixed and variable overheads.

 
2.11

Debtors

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

Page 5

 
Options Greathire Limited

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 89 (2022 - 84).

Page 6

 
Options Greathire Limited

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
536,744
1,462,685
229,118
8,988
6,595
2,244,130


Additions
174,436
1,418,244
137,840
1,290
14,822
1,746,632


Disposals
-
(62,257)
(25,099)
-
-
(87,356)



At 31 December 2023

711,180
2,818,672
341,859
10,278
21,417
3,903,406



Depreciation


At 1 January 2023
87,512
333,065
35,138
1,311
1,655
458,681


Charge for the year
78,276
620,537
126,487
944
2,080
828,324


Disposals
-
(37,172)
(25,099)
-
-
(62,271)



At 31 December 2023

165,788
916,430
136,526
2,255
3,735
1,224,734



Net book value



At 31 December 2023
545,392
1,902,242
205,333
8,023
17,682
2,678,672



At 31 December 2022
449,232
1,129,620
193,980
7,677
4,940
1,785,449

Page 7

 
Options Greathire Limited

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
849,999



At 31 December 2023
849,999





6.


Debtors

2023
2022
£
£


Trade debtors
833,269
297,598

Amounts owed by group undertakings
99,071
-

Other debtors
951,924
282,841

Prepayments and accrued income
235,633
234,686

Tax recoverable
16,875
16,875

2,136,772
832,000



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
432,285
315,222

Amounts owed to group undertakings
2,290,089
906,711

Corporation tax
-
16,875

Other taxation and social security
386,734
322,144

Other creditors
284,123
200,119

Accruals and deferred income
295,029
314,841

3,688,260
2,075,912


Page 8

 
Options Greathire Limited

 
Notes to the financial statements
For the year ended 31 December 2023

8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
6,094
11,781

6,094
11,781



9.


Contingent liabilities

At 31 December 2023 and 31 December 2022, the company had contingent liabilities of £nil.


10.


Capital commitments

At 31 December 2023 and 31 December 2022, the company had capital commitments of £nil.


11.


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 £65,870 (2022- £53,578). Contributions
totalling £3,814 (2022 -  £12,108) were payable to the fund at the reporting date and are included in creditors.


12.


Commitments under operating leases

At 31 December 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
676,220
436,974

Later than 1 year and not later than 5 years
3,188,032
1,741,211

3,864,252
2,178,185


13.


Related party transactions

During the year no amounts (2022- £50,000) were loaned to a director. At 31 March 2023 £50,000 (2022- £50,000) remained payable to the company. 


14.


Inclusion in group financial statements

Santopo S.A. is both the largest and smallest company that prepares group financial statements containing the
results of the company. The registered office if 330 Rue de Rollergrund, L-2441 Luxembourg.

Page 9

 
Options Greathire Limited

 
Notes to the financial statements
For the year ended 31 December 2023

15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was qualified.

The qualification in the audit report was as follows:

Basis for adverse opinion
During the year ended 31 December 2023 there were a number of transactions described below that have not beenincluded in the financial statements. Consequently we consider the impact of this to be material and pervasive to the financial statements.
The directors did not recognise the hive up of trade and assets following the acquisition of the subsidiary that was
acquired during 2023 because they were not able to finalise the trial balance of the subsidiary at the acquisition date before the year-end. Under FRS102, the trade and assets of the subsidiary should have been recognised within thefinancial statements of the company alongside any subsequent transactions of the branch. Had this hive up been accounted for, a number of balances in the accompanying financial statements would have been materially affected. The effects on the financial statements of the failure to recognise these transactions have not been determined.
The company also recognised a number of new leases in the year as operating leases, despite them meeting the definition of a finance lease. The potential impact of these misstatements is disclosed below:
Total assets understated by £902k;
Total liabilities understated by £636k; and
Administrative expenditure understated by £22k.

The company also entered into two new leases in the year on which the dilapidations provision has not been considered or recognised which could result in a material misstatement in the financial statements.
The directors have decided not to adjust for these items which is a departure from the requirements of FRS 102, resulting in the Statement of comprehensive income and Statement of financial position being materially misstated.

The audit report was signed on 31 May 2024 by Simon Wax (Senior statutory auditor) on behalf of Buzzacott LLP, 130 Wood Street, London EC2V 6DL.

Page 10