for the Period Ended 31 March 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2024
Principal activities of the company
Additional information
The company is an intermediate holding company that does not trade in its own right and it is exempt from producing consolidated financial statements. The company's UK parent undertakings Midcap Invest UK 1 Topco Limited and Midcap Invest UK 1 Midco Limited both produce consolidated financial statements including the company and all of its subsidiaries. Those consolidated financial statements are accompanied by a group strategic report which provide a review of the group's performance and position, including key performance indicators, the group's likely future developments and research and development activities, and the principal risks and uncertainties that the group faces. Those reports also include details of how the group deals with its obligations under section 172 of the Companies Act 2006, which is not relevant to the company on a standalone basis as it has a single shareholder, no employees, and no third party suppliers. On a standalone basis the company has performed as anticipated and continues to hold its investments at historical cost, which is substantially below the fair value of those investments. Pursuant to a group reconstruction during the year the company received and paid dividends in specie of £51,646,911. Additionally, certain direct holdings in subsidiaries were transferred to a subsidiary undertaking meaning that they became indirect subsidiaries. There was no fundamental change to the operations of the group as a result of this reconstruction, which was carried out to remove certain redundant intermediate holding companies.
Directors
The director shown below has held office during the whole of the period from
1 April 2023
to
31 March 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Interest receivable and similar income: |
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Interest payable and similar charges: |
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Profit(or loss) before tax: |
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Tax: |
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Profit(or loss) for the financial year: |
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As at
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Called up share capital not paid: |
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Fixed assets | |||
Intangible assets: |
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Tangible assets: |
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Investments: | 3 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 4 |
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Cash at bank and in hand: |
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Investments: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 5 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Share premium account: |
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Other reserves: |
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Profit and loss account: |
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Total Shareholders' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2024
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 March 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 March 2024
6 Investments Investments in subsidiaries at unimpaired historical cost 2024 £1,466,211 2023 £1,345,155 During the year acquired investments in subsidiaries of £1,000 through the issue of share capital at par and a further £120,056 in relation to deferred contingent consideration. Details of undertakings Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows: Opus 2 International Limited Registered Office: 5th Floor, 5 New Street Square, London, EC4A 3BF England & Wales Class of shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Magnum Software Development Limited Registered Office: 5th Floor, 5 New Street Square, London, EC4A 3BF England & Wales Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Opus 2 International Inc. Registered Office: 100 Pine Street, Suite 775, San Francisco, CA 94111 USA Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Opus 2 International Singapore Pte. Limited Registered Office: 28 Maxwell Road, #04 12 & 13 Maxwell, Chambers Suites, 069120 Singapore Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Annotate Software Limited Registered Office: Wemyss House, 6-8 Wemyss Place, Edinburgh, EH3 6DH Scotland Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Opus 2 International Pty Limited Registered Office: Level 6, 1 Chifley Square, Sydney, NSW2000 Australia Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Opus 2 Lex Limited Registered Office: 5th Floor, 5 New Street Square, London, EC4A 3BF England & Wales Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% Bar Squared Pty Ltd Registered Office: C/O Logicca Pty Limited, Level 6, 151 Macquarie Street, Sydney NSW 2000 Australia Class of Shares: Ordinary Proportion of voting rights and shares held: 2024:100% 2023:100% All subsidiaries are included in the consolidated group accounts prepared by the UK parent undertaking, Midcap Invest UK 1 Midco Limited. All the above subsidiaries, aside from Opus 2 LEX Limited and Opus 2 International Limited, are indirectly owned (2023: all the above subsidiaries were held directly).
for the Period Ended 31 March 2024
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Other debtors |
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Total |
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for the Period Ended 31 March 2024
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Other creditors |
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Total |
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for the Period Ended 31 March 2024