Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-252024-03-25trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-26falseNo description of principal activity00true 02366070 2023-03-26 2024-03-25 02366070 2022-03-26 2023-03-25 02366070 2024-03-25 02366070 2023-03-25 02366070 c:Director1 2023-03-26 2024-03-25 02366070 d:ComputerEquipment 2023-03-26 2024-03-25 02366070 d:ComputerEquipment 2024-03-25 02366070 d:ComputerEquipment 2023-03-25 02366070 d:OtherPropertyPlantEquipment 2023-03-26 2024-03-25 02366070 d:OtherPropertyPlantEquipment 2024-03-25 02366070 d:OtherPropertyPlantEquipment 2023-03-25 02366070 d:CurrentFinancialInstruments 2024-03-25 02366070 d:CurrentFinancialInstruments 2023-03-25 02366070 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-25 02366070 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-25 02366070 d:ShareCapital 2024-03-25 02366070 d:ShareCapital 2023-03-25 02366070 d:CapitalRedemptionReserve 2023-03-26 2024-03-25 02366070 d:CapitalRedemptionReserve 2024-03-25 02366070 d:CapitalRedemptionReserve 2023-03-25 02366070 d:RetainedEarningsAccumulatedLosses 2023-03-26 2024-03-25 02366070 d:RetainedEarningsAccumulatedLosses 2024-03-25 02366070 d:RetainedEarningsAccumulatedLosses 2023-03-25 02366070 c:FRS102 2023-03-26 2024-03-25 02366070 c:AuditExempt-NoAccountantsReport 2023-03-26 2024-03-25 02366070 c:FullAccounts 2023-03-26 2024-03-25 02366070 c:PrivateLimitedCompanyLtd 2023-03-26 2024-03-25 02366070 2 2023-03-26 2024-03-25 iso4217:GBP xbrli:pure

02366070







OMCAP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
25 MARCH 2024

































OMCAP LIMITED
REGISTERED NUMBER:02366070

BALANCE SHEET
AS AT 25 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
225,185
2,031

Bank and cash balances
  
145,099
638,104

  
370,284
640,135

Creditors: amounts falling due within one year
 7 
(140,077)
(542,388)

Net current assets
  
 
 
230,207
 
 
97,747

Total assets less current liabilities
  
230,207
97,747

  

Net assets
  
230,207
97,747


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Capital redemption reserve
 8 
12,000
12,000

Profit and loss account
 8 
188,207
55,747

  
230,207
97,747


The directors consider 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 directors acknowledge their 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.
Page 1

OMCAP LIMITED
REGISTERED NUMBER:02366070
    
BALANCE SHEET (CONTINUED)
AS AT 25 MARCH 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S.K. Allport
Director

Date: 1 October 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

OMCAP LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

1.


General information

OmCap Limited (the company) is a limited company domiciled and incorporated in England and Wales.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

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.

Monetary amounts in these financial statements are stated in pounds sterlings and are rounded to the nearest whole £1, except otherwise indicated.

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.
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients including expenses and disbursements but excluding Value Added Tax. Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.

 
2.3

Going concern

The directors have taken into account all available information about the company's trading prospects and cashflow requirements for 12 months from the date of approval of the financial statements, and consider that the company is a going concern.

 
2.4

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 3

OMCAP LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight line
Computer software
-
33%
straight line

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 within 'other operating income' in the Statement of Income and Retained Earnings.

 
2.5

Debtors

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

 
2.6

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. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

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.

 
2.9

 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.

  
2.10

 Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income using the effective interest method.

Page 4

OMCAP LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)

 
2.11

 Interest income

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

 
2.12

 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.


3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:



4.


Employees

The average monthly number of employees, including the directors, during the year was 3 (2023: 3)


5.


Tangible fixed assets





Computer equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 26 March 2023
4,210
6,000
10,210



At 25 March 2024

4,210
6,000
10,210



Depreciation


At 26 March 2023
4,210
6,000
10,210



At 25 March 2024

4,210
6,000
10,210



Net book value



At 25 March 2024
-
-
-



At 25 March 2023
-
-
-

Page 5

OMCAP LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
222,980
-

Prepayments and accrued income
2,205
2,031

225,185
2,031



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
127,041
530,238

Other taxation and social security
6,576
5,700

Accruals
6,460
6,450

140,077
542,388



8.


Reserves

Capital redemption reserve

Amounts transferred following the purchase of the Company's own shares.

Profit and loss account

The cumulative profit and loss, net of distribution to owners.

 
Page 6