Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false11No description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14099470 2023-04-01 2024-03-31 14099470 2022-04-01 2023-03-31 14099470 2024-03-31 14099470 2023-03-31 14099470 c:Director2 2023-04-01 2024-03-31 14099470 d:OfficeEquipment 2023-04-01 2024-03-31 14099470 d:OfficeEquipment 2024-03-31 14099470 d:OfficeEquipment 2023-03-31 14099470 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 14099470 d:CurrentFinancialInstruments 2024-03-31 14099470 d:CurrentFinancialInstruments 2023-03-31 14099470 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14099470 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14099470 d:ShareCapital 2024-03-31 14099470 d:ShareCapital 2023-03-31 14099470 d:RetainedEarningsAccumulatedLosses 2024-03-31 14099470 d:RetainedEarningsAccumulatedLosses 2023-03-31 14099470 c:OrdinaryShareClass1 2023-04-01 2024-03-31 14099470 c:OrdinaryShareClass1 2024-03-31 14099470 c:OrdinaryShareClass1 2023-03-31 14099470 c:FRS102 2023-04-01 2024-03-31 14099470 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14099470 c:FullAccounts 2023-04-01 2024-03-31 14099470 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14099470 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14099470













OBSTUDIO LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


 
OBSTUDIO LIMITED
REGISTERED NUMBER:14099470


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
24,850
30,175

  
24,850
30,175

Current assets
  

Debtors: amounts falling due within one year
 5 
156,681
390,360

Cash at bank and in hand
  
3,208
4,112

  
159,889
394,472

Creditors: amounts falling due within one year
  
(290,464)
(330,262)

Net current (liabilities)/assets
  
 
 
(130,575)
 
 
64,210

Total assets less current liabilities
  
(105,725)
94,385

  

Net (liabilities)/assets
  
(105,725)
94,385


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(105,735)
94,375

  
(105,725)
94,385


Page 1


 
OBSTUDIO LIMITED
REGISTERED NUMBER:14099470

    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 and were signed on its behalf on 30 October 2024.




Killian Thomas Lynch
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


 
OBSTUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

OBStudio Limited is a private company limited by shares and incorporated in England and Wales. It has
its registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.
The Principal activity of the company that of Specialised design 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

Going concern

The company reported a loss of £200,110 which resulted in a balance sheet deficit of £105,735. Within this is a balance of £132,407 owed to the shareholders as reported in note 10. The shareholders have confirmed that they will not withdraw these funds whilst the company strengthens its financial position. 
In light of the above and after taking into account all information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the company's accounts. 

 
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.

Page 3


 
OBSTUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.5

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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.

 
2.7

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:

Office equipment
-
15%

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.

Page 4


 
OBSTUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
35,500



At 31 March 2024

35,500



Depreciation


At 1 April 2023
5,325


Charge for the year on owned assets
5,325



At 31 March 2024

10,650



Net book value



At 31 March 2024
24,850

Page 5


 
OBSTUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
53,416
380,160

Other debtors
11
10

Prepayments and accrued income
103,254
10,190

156,681
390,360



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,208
4,112



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
102,635
91,447

Corporation tax
-
15,059

Other taxation and social security
29,640
69,156

Other creditors
132,407
149,050

Accruals and deferred income
25,782
5,550

290,464
330,262



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £0.01 each
10
10


Page 6


 
OBSTUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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 £35,628 (2023 - £8,330) . Contributions totalling £nil (2023 - £59) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

Incuded within creditors due within one year are balances owed to directors amounting to £132,407 (2023: £101,165). This loan bears interest at 1.2% per annum and has no fixed terms of repayment.


11.


Controlling party

The directors are the ultimate controlling party of the company by virtue of their shareholdings.

 
Page 7