Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30falseNo description of principal activity2022-05-05false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14088161 2022-05-04 14088161 2022-05-05 2023-06-30 14088161 2021-05-05 2022-05-04 14088161 2023-06-30 14088161 c:Director2 2022-05-05 2023-06-30 14088161 d:Buildings d:LongLeaseholdAssets 2022-05-05 2023-06-30 14088161 d:Buildings d:LongLeaseholdAssets 2023-06-30 14088161 d:FurnitureFittings 2022-05-05 2023-06-30 14088161 d:OfficeEquipment 2022-05-05 2023-06-30 14088161 d:OfficeEquipment 2023-06-30 14088161 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-05 2023-06-30 14088161 d:OwnedOrFreeholdAssets 2022-05-05 2023-06-30 14088161 d:ComputerSoftware 2023-06-30 14088161 d:OtherResidualIntangibleAssets 2022-05-05 2023-06-30 14088161 d:CurrentFinancialInstruments 2023-06-30 14088161 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14088161 d:ShareCapital 2023-06-30 14088161 d:RetainedEarningsAccumulatedLosses 2023-06-30 14088161 c:OrdinaryShareClass1 2022-05-05 2023-06-30 14088161 c:OrdinaryShareClass1 2023-06-30 14088161 c:FRS102 2022-05-05 2023-06-30 14088161 c:AuditExempt-NoAccountantsReport 2022-05-05 2023-06-30 14088161 c:FullAccounts 2022-05-05 2023-06-30 14088161 c:PrivateLimitedCompanyLtd 2022-05-05 2023-06-30 14088161 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-05-05 2023-06-30 14088161 d:ComputerSoftware d:OwnedIntangibleAssets 2022-05-05 2023-06-30 14088161 e:PoundSterling 2022-05-05 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14088161










OCCHIO LIGHTING UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2023

 
OCCHIO LIGHTING UK LTD
REGISTERED NUMBER: 14088161

BALANCE SHEET
AS AT 30 JUNE 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
32,799

Tangible assets
 5 
1,129,218

  
1,162,017

Current assets
  

Stocks
  
84,670

Debtors: amounts falling due within one year
 6 
318,191

Cash at bank and in hand
 7 
169,992

  
572,853

Creditors: amounts falling due within one year
 8 
(1,687,054)

Net current (liabilities)/assets
  
 
 
(1,114,201)

Total assets less current liabilities
  
47,816

  

Net assets
  
47,816


Capital and reserves
  

Called up share capital 
  
50,000

Profit and loss account
  
(2,184)

  
47,816

Page 1

 
OCCHIO LIGHTING UK LTD
REGISTERED NUMBER: 14088161
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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 period 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.

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




................................................
B M Zerlin
Director

Date: 30 October 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Occhio Lighting UK Ltd is a company limited by shares, registered in England and Wales, registered
number 14088161. The registered office is 91-97 Fulham Road, London, United Kingdom, SW3 6RH.

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

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

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.

 
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

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.

 The estimated useful lives range as follows:

Computer software
-
3
years

 
2.6

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

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
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:

Long-term leasehold property
-
10 years
Fixtures and fittings
-
5 years
Office equipment
-
3 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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.
Page 5

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial 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.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Intangible assets



Computer software

£



Cost


Additions
38,090



At 30 June 2023

38,090



Amortisation


Charge for the period on owned assets
5,291



At 30 June 2023

5,291



Net book value



At 30 June 2023
32,799



Page 6

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

5.


Tangible fixed assets





Leased building improvements
Office equipment and Fixtures & Fittings
Total

£
£
£



Cost or valuation


Additions
1,067,428
80,620
1,148,048



At 30 June 2023

1,067,428
80,620
1,148,048



Depreciation


Charge for the period on owned assets
14,772
4,058
18,830



At 30 June 2023

14,772
4,058
18,830



Net book value



At 30 June 2023
1,052,656
76,562
1,129,218


6.


Debtors

2023
£


Trade debtors
45,471

Other debtors
212,514

Called up share capital not paid
50,000

Prepayments and accrued income
10,206

318,191



7.


Cash and cash equivalents

2023
£

Cash at bank and in hand
169,992


Page 7

 
OCCHIO LIGHTING UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
278,836

Amounts owed to group undertakings
1,356,143

Other taxation and social security
4,866

Other creditors
14,695

Accruals and deferred income
32,514

1,687,054



9.


Share capital

2023
£
Allotted, called up and fully paid


50,000 Ordinary shares of £1.00 each
50,000


50,000 Ordinary shares of £1 each were allotted on 5 May 2022.


10.


Capital commitments


At 30 June 2023 the Company had capital commitments as follows:

2023
£


Contracted for but not provided in these financial statements
630,146


11.


Related party transactions

In accordance with section 1A of FRS 102, transactions between wholly owned group companies have not been disclosed.


12.


Controlling party

The Company is a 100% owned subsidiary of Occhio GmbH.
 
Page 8