Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31truefalseNo description of principal activity2023-09-01false2028The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04466440 2023-09-01 2024-08-31 04466440 2022-09-01 2023-08-31 04466440 2024-08-31 04466440 2023-08-31 04466440 c:Director1 2023-09-01 2024-08-31 04466440 d:Buildings 2023-09-01 2024-08-31 04466440 d:Buildings 2024-08-31 04466440 d:Buildings 2023-08-31 04466440 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04466440 d:LandBuildings 2024-08-31 04466440 d:LandBuildings 2023-08-31 04466440 d:FurnitureFittings 2023-09-01 2024-08-31 04466440 d:FurnitureFittings 2024-08-31 04466440 d:FurnitureFittings 2023-08-31 04466440 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04466440 d:OfficeEquipment 2023-09-01 2024-08-31 04466440 d:OfficeEquipment 2024-08-31 04466440 d:OfficeEquipment 2023-08-31 04466440 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04466440 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04466440 d:Goodwill 2024-08-31 04466440 d:Goodwill 2023-08-31 04466440 d:CurrentFinancialInstruments 2024-08-31 04466440 d:CurrentFinancialInstruments 2023-08-31 04466440 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 04466440 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04466440 d:ShareCapital 2024-08-31 04466440 d:ShareCapital 2023-08-31 04466440 d:CapitalRedemptionReserve 2024-08-31 04466440 d:CapitalRedemptionReserve 2023-08-31 04466440 d:RetainedEarningsAccumulatedLosses 2024-08-31 04466440 d:RetainedEarningsAccumulatedLosses 2023-08-31 04466440 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 04466440 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 04466440 c:FRS102 2023-09-01 2024-08-31 04466440 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04466440 c:FullAccounts 2023-09-01 2024-08-31 04466440 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04466440 2 2023-09-01 2024-08-31 04466440 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 04466440










OSAKA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024



 
OSAKA LIMITED
REGISTERED NUMBER: 04466440

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
207,781
218,478

  
207,781
218,478

Current assets
  

Debtors: amounts falling due within one year
 6 
165,161
215,000

Cash at bank and in hand
  
2,167,193
1,781,488

  
2,332,354
1,996,488

Creditors: amounts falling due within one year
 7 
(201,452)
(183,251)

Net current assets
  
 
 
2,130,902
 
 
1,813,237

Total assets less current liabilities
  
2,338,683
2,031,715

Provisions for liabilities
  

Deferred tax
 8 
(5,067)
(6,645)

  
 
 
(5,067)
 
 
(6,645)

Net assets
  
2,333,616
2,025,070


Capital and reserves
  

Called up share capital 
  
1
1

Capital redemption reserve
  
1
1

Profit and loss account
  
2,333,614
2,025,068

  
2,333,616
2,025,070


Page 1

 
OSAKA LIMITED
REGISTERED NUMBER: 04466440
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 26 September 2024.




P R Dewhurst
Director

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

Page 2

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies

 
1.1

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 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

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:

Rendering of services

Revenue 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 revenue 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.

 
1.3

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.

 
1.4

Interest income

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

 
1.5

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.

Page 3

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies (continued)

 
1.6

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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.8

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.

Page 4

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies (continued)


1.8
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:

Freehold property
-
Not depreciated
Fixtures and fittings
-
25%
reducing balance
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.

 
1.9

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.

 
1.10

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.

 
1.11

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.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.13

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.

Page 5

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.


General information

Osaka Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 04466440
The address of the Registered Office is:
Invision House 
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

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


        2024
        2023
            No.
            No.







Employees
20
28


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
1,000,000



At 31 August 2024

1,000,000



Amortisation


At 1 September 2023
1,000,000



At 31 August 2024

1,000,000



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 6

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2023
185,000
64,822
67,233
317,055


Additions
-
7,385
-
7,385


Disposals
-
(41,518)
(50,995)
(92,513)



At 31 August 2024

185,000
30,689
16,238
231,927



Depreciation


At 1 September 2023
-
46,852
51,725
98,577


Charge for the year on owned assets
-
4,033
1,528
5,561


Disposals
-
(38,394)
(41,598)
(79,992)



At 31 August 2024

-
12,491
11,655
24,146



Net book value



At 31 August 2024
185,000
18,198
4,583
207,781



At 31 August 2023
185,000
17,970
15,508
218,478




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
185,000
185,000

185,000
185,000



6.


Debtors

2024
2023
£
£


Trade debtors
18,000
-

Amounts owed by related parties
114,161
182,000

Other debtors
33,000
33,000

165,161
215,000

Page 7

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.Debtors (continued)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,283
2,921

Corporation tax
123,456
57,682

Other taxation and social security
57,639
74,837

Other creditors
1,249
45,986

Accruals and deferred income
1,825
1,825

201,452
183,251


Page 8

 
OSAKA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Deferred taxation




2024


£






At beginning of year
(6,645)


Utilised in year
1,578



At end of year
(5,067)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(5,067)
(6,645)

(5,067)
(6,645)


9.


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 £10,938 (2023 - £133,310) . Contributions totalling £Nil (2023 - £3,399) were payable to the fund at the reporting date and are included in creditors.

 
Page 9