Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312023-06-01falseThe principal activity of the company was that of web hosting and data storage services.44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09054201 2023-06-01 2024-05-31 09054201 2022-06-01 2023-05-31 09054201 2024-05-31 09054201 2023-05-31 09054201 c:Director1 2023-06-01 2024-05-31 09054201 c:Director3 2023-06-01 2024-05-31 09054201 d:OfficeEquipment 2023-06-01 2024-05-31 09054201 d:OfficeEquipment 2024-05-31 09054201 d:OfficeEquipment 2023-05-31 09054201 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09054201 d:CurrentFinancialInstruments 2024-05-31 09054201 d:CurrentFinancialInstruments 2023-05-31 09054201 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09054201 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09054201 d:ShareCapital 2024-05-31 09054201 d:ShareCapital 2023-05-31 09054201 d:SharePremium 2024-05-31 09054201 d:SharePremium 2023-05-31 09054201 d:CapitalRedemptionReserve 2024-05-31 09054201 d:CapitalRedemptionReserve 2023-05-31 09054201 d:RetainedEarningsAccumulatedLosses 2024-05-31 09054201 d:RetainedEarningsAccumulatedLosses 2023-05-31 09054201 c:OrdinaryShareClass1 2023-06-01 2024-05-31 09054201 c:OrdinaryShareClass1 2024-05-31 09054201 c:OrdinaryShareClass1 2023-05-31 09054201 c:FRS102 2023-06-01 2024-05-31 09054201 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09054201 c:FullAccounts 2023-06-01 2024-05-31 09054201 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09054201 6 2023-06-01 2024-05-31 09054201 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09054201














OPTIMICDN LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
OPTIMICDN LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
OPTIMICDN LTD
REGISTERED NUMBER:09054201

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
663
884

Investments
 5 
7,914
7,914

  
8,577
8,798

Current assets
  

Debtors
 6 
138,643
200,505

Cash at bank and in hand
  
1,374,061
1,571,622

  
1,512,704
1,772,127

  

Creditors: amounts falling due within one year
 7 
(338,467)
(270,611)

Net current assets
  
 
 
1,174,237
 
 
1,501,516

  

Net assets
  
1,182,814
1,510,314


Capital and reserves
  

Called up share capital 
 8 
11,667
14,000

Share premium account
  
327,390
327,390

Capital redemption reserve
  
5,833
3,500

Profit and loss account
  
837,924
1,165,424

  
1,182,814
1,510,314


Page 1

 
OPTIMICDN LTD
REGISTERED NUMBER:09054201
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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: 




R Scetbon
X Farooghi
Director
Director


Date: 5 February 2025
Date:5 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
OPTIMICDN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

OptimiCDN Ltd is a limited liability company incorporated in England and Wales with its registered office at 2nd Floor Connaught House,1-3 Mount Street, London W1K 3NB.

The principal activity of the company was that of web hosting and data storage services.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.

 
2.4

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 provided on the following basis:

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 the Statement of Comprehensive Income.

 
2.5

Investments

Investments held as fixed assets are shown at cost less provision for impairment. 

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
OPTIMICDN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

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.

 
2.10

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


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 
OPTIMICDN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
8,397



At 31 May 2024

8,397



Depreciation


At 1 June 2023
7,513


Charge for the year on owned assets
221



At 31 May 2024

7,734



Net book value



At 31 May 2024
663



At 31 May 2023
884


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
7,914



At 31 May 2024
7,914




Page 5

 
OPTIMICDN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors


2024
2023
£
£



Trade debtors
2,975
-

Other debtors
43,403
65,225

Prepayments and accrued income
92,265
135,280

138,643
200,505



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
84,579
608

Taxation and social security
126,321
126,301

Other creditors
75,649
77,223

Accruals and deferred income
51,918
66,479

338,467
270,611



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,667 (2023 - 14,000) ordinary shares of £1 each
11,667
14,000

During the year the company purchased 2,333 of its own shares and following the share buy back these
shares were cancelled.


Page 6