Caseware UK (AP4) 2023.0.135 2023.0.135 22023-07-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10539329 2023-07-01 2024-06-30 10539329 2022-01-01 2023-06-30 10539329 2024-06-30 10539329 2023-06-30 10539329 2022-01-01 10539329 c:Director2 2023-07-01 2024-06-30 10539329 d:CurrentFinancialInstruments 2024-06-30 10539329 d:CurrentFinancialInstruments 2023-06-30 10539329 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10539329 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10539329 d:ShareCapital 2024-06-30 10539329 d:ShareCapital 2023-06-30 10539329 d:MergerReserve 2023-07-01 2024-06-30 10539329 d:MergerReserve 2024-06-30 10539329 d:MergerReserve 2023-06-30 10539329 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 10539329 d:RetainedEarningsAccumulatedLosses 2024-06-30 10539329 d:RetainedEarningsAccumulatedLosses 2023-06-30 10539329 c:OrdinaryShareClass1 2023-07-01 2024-06-30 10539329 c:OrdinaryShareClass1 2024-06-30 10539329 c:OrdinaryShareClass1 2023-06-30 10539329 c:OrdinaryShareClass2 2023-07-01 2024-06-30 10539329 c:OrdinaryShareClass2 2024-06-30 10539329 c:OrdinaryShareClass2 2023-06-30 10539329 c:FRS102 2023-07-01 2024-06-30 10539329 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10539329 c:FullAccounts 2023-07-01 2024-06-30 10539329 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10539329 6 2023-07-01 2024-06-30 10539329 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10539329










Global Umbrella Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Global Umbrella Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Global Umbrella Limited for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Global Umbrella Limited for the year ended 30 June 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Global Umbrella Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Global Umbrella Limited and state those matters that we have agreed to state to the Board of Directors of Global Umbrella Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Umbrella Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Global Umbrella Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Global Umbrella Limited. You consider that Global Umbrella Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Global Umbrella Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
4 February 2025
Page 1

 
Global Umbrella Limited
Registered number: 10539329

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,841,364
1,841,364

  
1,841,364
1,841,364

  

Creditors: amounts falling due within one year
 5 
(484,021)
(566,441)

Net current liabilities
  
 
 
(484,021)
 
 
(566,441)

Total assets less current liabilities
  
1,357,343
1,274,923

  

Net assets
  
1,357,343
1,274,923


Capital and reserves
  

Called up share capital 
 6 
152,445
152,445

Merger reserve
 7 
397,556
397,556

Profit and loss account
 7 
807,342
724,922

  
1,357,343
1,274,923


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 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 on 4 February 2025.




Mr P R Wetherfield
Director

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

Page 2

 
Global Umbrella Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

Global Umbrella Limited ("the company") is a private company limited by shares and is incorporated in England with the registration number 10539329. The address of the registered office is Suite 40 940 Innovation Building, Kent Science Park, Sittingbourne, Kent, United Kingdom, ME9 8HL.

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

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.

 
2.4

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

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
Global Umbrella Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
1,841,364



At 30 June 2024
1,841,364





5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
417,765
527,765

Accruals and deferred income
66,256
38,676

484,021
566,441


Page 4

 
Global Umbrella Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



15,244,443 (2023 - 15,244,400) A Ordinary shares of £0.01 each
152,444
152,444
1 (2023 - 1) Ordinary share of £1.00
1
1

152,445

152,445



7.


Reserves

Merger Reserve

This reserve represents the fair value of the consideration given in excess of the nominal value of ordinary shares issued in an acquisition made by the issue of shares. 

Profit and loss account

The reserve comprises all current and prior period retained profits and losses after deducting any distribution made to the Company's shareholders and amounts attributable to non-controlling interests. 

Page 5

 
Global Umbrella Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

8.


Share-based payments

On 22 August 2016, the company granted 3,389,214 Ordinary D share options of £0.01 each to a director with no performance conditions attached. The options are exercisable on the date on which an Exit occurs. 
On 1 November 2017, the company granted 2,880,832 Ordinary B share options of £0.01 each to certain employees with performance conditions attached where the employees may exercise one fourth of the share options if the consolidated accounts achieve profit after interest and tax exceeding £200k for the year ended 2017, and £250k for the years ending 2018, 2019 and 2020. 
On 1 August 2018, the company granted a further 364,695 Ordinary B share options of £0.01 each to certain employees with performance conditions attached where the employees may exercise one fourth of the share options if the consolidated accounts achieve profit after interest and tax exceeding £250k for the years ending 2018, 2019, 2020 and 2021. 
On 1 August 2019, the company granted 40,522 Ordinary B share options of £0.01 each to one employee with performance conditions attached where the employee may exercise one fourth of the share options if the consolidated accounts achieve profit after interest and tax exceeding £250k for the years ending 2019, 2020, 2021 and 2022. 
During the period ended 30 June 2023, a further 9,545,612 Ordinary B share options of £0.01 each were issued to employees on 31 March 2022 and 40,522 Ordinary B share options of £0.01 each issued to an employee on 18 January 2023 with performance conditions attached where the employees may exercise one fourth of the share options if the consolidated accounts achieve profit after interest and tax exceeding £250k for the years ending 2023, 2024, 2025 and 2026.
During the year ended 30 June 2024, a further 273,128 Ordinary B share options of £0.0128 each were issued to employees on 21 December 2023 with performance conditions attached where the employees may exercise one fourth of the share options if the consolidated accounts achieve profit after interest and tax exceeding £250k for the years ending 2024, 2025, 2026 and 2027. 
The options shall lapse on the tenth anniversary of the date on which they were granted, assuming they are not exercised before then and no event occurs to cause them to lapse earlier under the rules. 
No share option charge has been recognised in the financial statements as the fair value of the share  options cannot be reliably obtained.  

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the period

1.084

15,980,353

1.202
 
6,675,263
 
Granted during the period

1.280

273,128

1.000
 
9,586,134
 
Forfeited during the period

1.280

(1,864,067)

1.000
 
(281,044)
 
Outstanding at the end of the period
1.063

14,389,414

1.084
 
15,980,353
 





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