Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-311212falsefalse2023-06-01No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02692297 2023-06-01 2024-05-31 02692297 2024-05-31 02692297 2022-06-01 2023-05-31 02692297 2023-05-31 02692297 c:CompanySecretary1 2023-06-01 2024-05-31 02692297 c:Director1 2023-06-01 2024-05-31 02692297 c:Director2 2023-06-01 2024-05-31 02692297 c:Director6 2023-06-01 2024-05-31 02692297 c:RegisteredOffice 2023-06-01 2024-05-31 02692297 d:ComputerEquipment 2023-06-01 2024-05-31 02692297 d:ComputerEquipment 2024-05-31 02692297 d:ComputerEquipment 2023-05-31 02692297 d:CurrentFinancialInstruments 2024-05-31 02692297 d:CurrentFinancialInstruments 2023-05-31 02692297 d:Non-currentFinancialInstruments 2024-05-31 02692297 d:Non-currentFinancialInstruments 2023-05-31 02692297 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02692297 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02692297 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 02692297 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02692297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 02692297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 02692297 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 02692297 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 02692297 d:ShareCapital 2024-05-31 02692297 d:ShareCapital 2023-05-31 02692297 d:RetainedEarningsAccumulatedLosses 2024-05-31 02692297 d:RetainedEarningsAccumulatedLosses 2023-05-31 02692297 c:FRS102 2023-06-01 2024-05-31 02692297 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02692297 c:FullAccounts 2023-06-01 2024-05-31 02692297 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02692297 d:WithinOneYear 2024-05-31 02692297 d:WithinOneYear 2023-05-31 02692297 d:BetweenOneFiveYears 2024-05-31 02692297 d:BetweenOneFiveYears 2023-05-31 02692297 6 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Company registration number: 02692297







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


OPENLINK GROUP LIMITED






































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OPENLINK GROUP LIMITED
 


 
COMPANY INFORMATION


Directors
H Williams 
O K Idehen 
H Heward-Mills 




Company secretary
H Williams



Registered number
02692297



Registered office
Suite 273
Airport House Purley Way

Croydon

CR0 0XZ




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


OPENLINK GROUP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


OPENLINK GROUP LIMITED
REGISTERED NUMBER:02692297



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
46,332
46,332

  
46,332
46,332

Current assets
  

Debtors: amounts falling due within one year
 6 
2,997,269
2,719,379

Cash at bank and in hand
  
3,935
63,592

  
3,001,204
2,782,971

Creditors: amounts falling due within one year
 7 
(1,235,227)
(1,157,538)

Net current assets
  
 
 
1,765,977
 
 
1,625,433

Total assets less current liabilities
  
1,812,309
1,671,765

Creditors: amounts falling due after more than one year
 8 
(58,263)
(77,234)

  

Net assets
  
1,754,046
1,594,531


Capital and reserves
  

Allotted, called up and fully paid share capital
  
2,601
2,601

Profit and loss account
  
1,751,445
1,591,930

  
1,754,046
1,594,531


Page 1

 


OPENLINK GROUP LIMITED
REGISTERED NUMBER:02692297


    
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 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 by: 




................................................
H Williams
Director

Date: 26 February 2025

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

Page 2

 


OPENLINK GROUP LIMITED
 


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

1.


General information

Openlink Group Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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.

Page 3

 


OPENLINK GROUP LIMITED
 


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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

 
2.8

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:

Computer equipment
-
3 years 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.

Page 4

 


OPENLINK GROUP LIMITED
 


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

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 June 2023
78,571



At 31 May 2024

78,571



Depreciation


At 1 June 2023
78,571



At 31 May 2024

78,571



Net book value



At 31 May 2024
-



At 31 May 2023
-

Page 5

 


OPENLINK GROUP LIMITED
 


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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
46,332



At 31 May 2024
46,332





6.


Debtors

2024
2023
£
£


Trade debtors
182,557
15,189

Amounts owed by group undertakings
2,037,512
1,954,897

Other debtors
777,200
749,293

2,997,269
2,719,379



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,995
10,979

Trade creditors
58,575
31,321

Other taxation and social security
14,006
4,607

Other creditors
1,086,007
1,053,670

Accruals and deferred income
65,644
56,961

1,235,227
1,157,538



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
57,832
68,651

Accruals and deferred income
431
8,583

58,263
77,234


Page 6

 


OPENLINK GROUP LIMITED
 


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

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,995
10,979


Amounts falling due 2-5 years

Bank loans
46,832
46,761

Amounts falling due after more than 5 years

Bank loans
11,000
21,890

68,827
79,630



10.


Commitments under operating leases

At 31 May 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
9,396
9,073

Later than 1 year and not later than 5 years
2,612
5,223

12,008
14,296


 
Page 7