Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-0129false34truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05169556 2023-08-01 2024-07-31 05169556 2022-08-01 2023-07-31 05169556 2024-07-31 05169556 2023-07-31 05169556 2022-08-01 05169556 c:Director1 2023-08-01 2024-07-31 05169556 d:Buildings d:ShortLeaseholdAssets 2023-08-01 2024-07-31 05169556 d:Buildings d:ShortLeaseholdAssets 2024-07-31 05169556 d:Buildings d:ShortLeaseholdAssets 2023-07-31 05169556 d:PlantMachinery 2023-08-01 2024-07-31 05169556 d:PlantMachinery 2024-07-31 05169556 d:PlantMachinery 2023-07-31 05169556 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05169556 d:FurnitureFittings 2023-08-01 2024-07-31 05169556 d:FurnitureFittings 2024-07-31 05169556 d:FurnitureFittings 2023-07-31 05169556 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05169556 d:ComputerEquipment 2023-08-01 2024-07-31 05169556 d:ComputerEquipment 2024-07-31 05169556 d:ComputerEquipment 2023-07-31 05169556 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05169556 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05169556 d:Goodwill 2024-07-31 05169556 d:Goodwill 2023-07-31 05169556 d:CurrentFinancialInstruments 2024-07-31 05169556 d:CurrentFinancialInstruments 2023-07-31 05169556 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 05169556 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05169556 d:ShareCapital 2024-07-31 05169556 d:ShareCapital 2023-07-31 05169556 d:SharePremium 2024-07-31 05169556 d:SharePremium 2023-07-31 05169556 d:CapitalRedemptionReserve 2024-07-31 05169556 d:CapitalRedemptionReserve 2023-07-31 05169556 d:RetainedEarningsAccumulatedLosses 2024-07-31 05169556 d:RetainedEarningsAccumulatedLosses 2023-07-31 05169556 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 05169556 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05169556 d:OtherDeferredTax 2024-07-31 05169556 d:OtherDeferredTax 2023-07-31 05169556 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-08-01 2024-07-31 05169556 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-07-31 05169556 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-07-31 05169556 c:OrdinaryShareClass1 2023-08-01 2024-07-31 05169556 c:OrdinaryShareClass1 2024-07-31 05169556 c:OrdinaryShareClass1 2023-07-31 05169556 c:OrdinaryShareClass2 2023-08-01 2024-07-31 05169556 c:OrdinaryShareClass2 2024-07-31 05169556 c:FRS102 2023-08-01 2024-07-31 05169556 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05169556 c:FullAccounts 2023-08-01 2024-07-31 05169556 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05169556 d:WithinOneYear 2024-07-31 05169556 d:WithinOneYear 2023-07-31 05169556 d:BetweenOneFiveYears 2024-07-31 05169556 d:BetweenOneFiveYears 2023-07-31 05169556 2 2023-08-01 2024-07-31 05169556 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05169556









OPTICAL METROLOGY SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
OPTICAL METROLOGY SERVICES LIMITED
REGISTERED NUMBER: 05169556

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
167,258
50,514

  
167,258
50,514

Current assets
  

Stocks
  
462,764
406,528

Debtors: amounts falling due within one year
 6 
3,137,752
2,760,423

Cash at bank and in hand
  
3,748,251
1,540,525

  
7,348,767
4,707,476

Creditors: amounts falling due within one year
 7 
(4,970,881)
(893,493)

Net current assets
  
 
 
2,377,886
 
 
3,813,983

Total assets less current liabilities
  
2,545,144
3,864,497

Provisions for liabilities
  

Deferred tax
 8 
(18,099)
(6,810)

Other provisions
 9 
(683,675)
(297,328)

  
 
 
(701,774)
 
 
(304,138)

Net assets
  
1,843,370
3,560,359


Capital and reserves
  

Called up share capital 
 10 
1,025
900

Share premium account
  
127,790
48,290

Capital redemption reserve
  
100
100

Profit and loss account
  
1,714,455
3,511,069

  
1,843,370
3,560,359


Page 1

 
OPTICAL METROLOGY SERVICES LIMITED
REGISTERED NUMBER: 05169556

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 by: 




Dr T Clarke
Director

Date: 18 December 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

1.


General information

Optical Metrology Services Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is Unit 9, M11 Business Link, Parsonage Lane, Stansted, Essex, CM24 8GF. The Company is not part of a group.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Royalty income is recognised on an accruals basis in accordance with the substance of the  agreement. 

 
2.3

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.

 
2.4

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.

 
2.5

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

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following bases.

Depreciation is provided on the following bases:

S/Term Leasehold Property
-
Straight line over the remaining lease term
Plant and machinery
-
25%
reducing balance / 3 year straight line
Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
50%
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 in profit or loss.

 
2.6

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.

 
2.7

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.

Page 4

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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 balance sheet 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 balance sheet 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 balance sheet date.

 
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.

Page 5

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially
Page 6

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)

recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Interest income

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

Page 7

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 29).

Page 8

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
10,000



At 31 July 2024

10,000



Amortisation


At 1 August 2023
10,000



At 31 July 2024

10,000



Net book value



At 31 July 2024
-



At 31 July 2023
-



Page 9

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

5.


Tangible fixed assets





S/Term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
453,711
492,516
70,059
178,017
1,194,303


Additions
29,820
97,046
3,278
20,311
150,455



At 31 July 2024

483,531
589,562
73,337
198,328
1,344,758



Depreciation


At 1 August 2023
453,711
478,405
48,122
163,551
1,143,789


Charge for the year on owned assets
167
12,441
5,872
15,231
33,711



At 31 July 2024

453,878
490,846
53,994
178,782
1,177,500



Net book value



At 31 July 2024
29,653
98,716
19,343
19,546
167,258



At 31 July 2023
-
14,111
21,937
14,466
50,514


6.


Debtors

2024
2023
£
£


Trade debtors
2,006,340
1,465,922

Other debtors
1,012,616
949,041

Prepayments and accrued income
118,796
345,460

3,137,752
2,760,423


Page 10

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
664,919
326,161

Corporation tax
39,796
-

Other taxation and social security
46,412
40,175

Other creditors
3,163,153
22,941

Accruals and deferred income
1,056,601
504,216

4,970,881
893,493



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(6,810)
64,208


Charged to profit or loss
(11,289)
(71,018)



At end of year
(18,099)
(6,810)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(33,789)
(6,810)

Interest not paid within 12 months of period end
15,690
-

(18,099)
(6,810)


9.


Provisions




Witholding tax provision

£





At 1 August 2023
297,328


Charged to profit or loss
386,347



At 31 July 2024
683,675

Page 11

 
OPTICAL METROLOGY SERVICES LIMITED
 

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

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



900 (2023 - 900) Class A shares of £1.00 each
900
900
125 (2023 - Nil) Class B shares of £1.00 each
125
-

1,025

900


During the year 125 class B shares were allottated at par and paid in full.


11.


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 £28,273 (2023 - £25,468). Contributions totalling £- (2023 - £6,050) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
160,845
72,233

Later than 1 year and not later than 5 years
643,380
-

804,225
72,233


Page 12