Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32023-01-01falseNo description of principal activityfalsetrue 05482849 2023-01-01 2023-12-31 05482849 2021-07-01 2022-12-31 05482849 2023-12-31 05482849 2022-12-31 05482849 c:Director1 2023-01-01 2023-12-31 05482849 d:OfficeEquipment 2023-01-01 2023-12-31 05482849 d:OfficeEquipment 2023-12-31 05482849 d:OfficeEquipment 2022-12-31 05482849 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05482849 d:CurrentFinancialInstruments 2023-12-31 05482849 d:CurrentFinancialInstruments 2022-12-31 05482849 d:Non-currentFinancialInstruments 2023-12-31 05482849 d:Non-currentFinancialInstruments 2022-12-31 05482849 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05482849 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05482849 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05482849 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05482849 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 05482849 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 05482849 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05482849 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 05482849 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 05482849 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 05482849 d:ShareCapital 2023-12-31 05482849 d:ShareCapital 2022-12-31 05482849 d:RetainedEarningsAccumulatedLosses 2023-12-31 05482849 d:RetainedEarningsAccumulatedLosses 2022-12-31 05482849 c:FRS102 2023-01-01 2023-12-31 05482849 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05482849 c:FullAccounts 2023-01-01 2023-12-31 05482849 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05482849 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05482849









ORBIX UK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
ORBIX UK LTD
REGISTERED NUMBER: 05482849

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
598
1,623

  
598
1,623

Current assets
  

Debtors: amounts falling due after more than one year
 5 
21,000
21,000

Debtors: amounts falling due within one year
 5 
166,392
86,555

Cash at bank and in hand
 6 
5,927
4,601

  
193,319
112,156

Creditors: amounts falling due within one year
 7 
(15,461)
(30,295)

Net current assets
  
 
 
177,858
 
 
81,861

Total assets less current liabilities
  
178,456
83,484

Creditors: amounts falling due after more than one year
 8 
(79,967)
(80,228)

  

Net assets
  
98,489
3,256

Page 1

 
ORBIX UK LTD
REGISTERED NUMBER: 05482849
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
98,487
3,254

  
98,489
3,256


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 period 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 on 30 September 2024.




H Iwasaki
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Orbix UK Ltd, Company Registration 05482849 incorporated in England and Wales.
Registered office address Unit 129 Image Court, 328-334 Molesey Road, Walton-On-Thames, Surrey, KT12 3LT.
The company's principal activity is that of data processing, hosting and related activities.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
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.

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.

 
2.4

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 3

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
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

Taxation

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.

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Reducing balance

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

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.

Page 4

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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

31 December
18 months ended
31 December
2023
2022
£
£

Wages and salaries
82,550
152,519

Social security costs
7,626
13,917

Cost of defined contribution scheme
1,915
2,886

92,091
169,322


The average monthly number of employees, including directors, during the period was 3 (2022 - 4).

Page 5

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
10,972



At 31 December 2023

10,972



Depreciation


At 1 January 2023
9,349


Charge for the period on owned assets
1,025



At 31 December 2023

10,374



Net book value



At 31 December 2023
598



At 31 December 2022
1,623

Page 6

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Due from participating interests
21,000
21,000

21,000
21,000


2023
2022
£
£

Due within one year

Trade debtors
162,742
82,857

Other debtors
2,863
2,863

Prepayments and accrued income
787
835

166,392
86,555



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,927
4,601

5,927
4,601



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,243
9,371

Corporation tax
2,040
-

Other taxation and social security
7,178
20,337

Accruals and deferred income
-
587

15,461
30,295


Page 7

 
ORBIX UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
39,967
45,228

Amounts owed to group undertakings
40,000
35,000

79,967
80,228



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
5,260
5,895

Amounts falling due 2-5 years

Bank loans
18,319
23,579

Amounts falling due after more than 5 years

Bank loans
16,389
15,754

16,389
15,754

39,968
45,228



10.


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 £1,915 (2022 - £2,886) . Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8