Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31Retail sale of ostomy goods42023-09-01false4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10614600 2023-09-01 2024-08-31 10614600 2022-09-01 2023-08-31 10614600 2024-08-31 10614600 2023-08-31 10614600 c:Director1 2023-09-01 2024-08-31 10614600 c:Director2 2023-09-01 2024-08-31 10614600 c:Director3 2023-09-01 2024-08-31 10614600 c:Director4 2023-09-01 2024-08-31 10614600 c:Director5 2023-09-01 2024-08-31 10614600 c:RegisteredOffice 2023-09-01 2024-08-31 10614600 d:PlantMachinery 2023-09-01 2024-08-31 10614600 d:PlantMachinery 2024-08-31 10614600 d:PlantMachinery 2023-08-31 10614600 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10614600 d:ComputerEquipment 2023-09-01 2024-08-31 10614600 d:ComputerEquipment 2024-08-31 10614600 d:ComputerEquipment 2023-08-31 10614600 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10614600 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10614600 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-01 2024-08-31 10614600 d:PatentsTrademarksLicencesConcessionsSimilar 2024-08-31 10614600 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 10614600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 10614600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 10614600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 10614600 d:CurrentFinancialInstruments 2024-08-31 10614600 d:CurrentFinancialInstruments 2023-08-31 10614600 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10614600 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10614600 d:ShareCapital 2024-08-31 10614600 d:ShareCapital 2023-08-31 10614600 d:SharePremium 2024-08-31 10614600 d:SharePremium 2023-08-31 10614600 d:RetainedEarningsAccumulatedLosses 2024-08-31 10614600 d:RetainedEarningsAccumulatedLosses 2023-08-31 10614600 c:FRS102 2023-09-01 2024-08-31 10614600 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10614600 c:FullAccounts 2023-09-01 2024-08-31 10614600 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10614600 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-09-01 2024-08-31 10614600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-09-01 2024-08-31 10614600 d:ExternallyAcquiredIntangibleAssets 2023-09-01 2024-08-31 10614600 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-09-01 2024-08-31 10614600 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-09-01 2024-08-31 10614600 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Registered number: 10614600














OSTIQUE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
OSTIQUE LIMITED
 
 
COMPANY INFORMATION


Directors
S Monty 
D Grabiner 
J P Pisani 
T Schneider 
O Rose 




Registered number
10614600



Registered office
C/O Phta Ltd Office Of The Director, Finance Office
University Of Birmingham

Edgbaston

Birmingham

West Midlands

B15 2TT




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
OSTIQUE LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 9


 
OSTIQUE LIMITED
REGISTERED NUMBER:10614600

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
659,035
604,571

Tangible assets
 5 
31,793
13,059

  
690,828
617,630

Current assets
  

Stocks
  
47,339
15,658

Debtors: amounts falling due within one year
 6 
16,999
15,605

Cash at bank and in hand
  
284,867
119,848

  
349,205
151,111

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 7 
(10,424)
(7,935)

Net current assets
  
 
 
338,781
 
 
143,176

Total assets less current liabilities
  
1,029,609
760,806

Provisions for liabilities
  

Deferred tax
  
(4,654)
-

  
 
 
(4,654)
 
 
-

Net assets
  
1,024,955
760,806


Capital and reserves
  

Called up share capital 
  
280
241

Share premium account
  
2,232,398
1,644,370

Profit and loss account
  
(1,207,723)
(883,805)

  
1,024,955
760,806


Page 1

 
OSTIQUE LIMITED
REGISTERED NUMBER:10614600
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 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: 




S Monty
Director

Date: 11 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Ostique Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Phta Ltd Office Of The Director, Finance Office, University Of Birmingham, Birmingham, England, B15 2TT.
The principal activity of the company continued to be that of retail sale of ostomy goods.
The company's functional and presentational currency is £ Sterling.

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 at the fair value of the consideration received or receivable for goods andservices provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 
2.3

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.

 
2.4

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.

Page 3

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

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 reporting 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 reporting 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 reporting date.

 
2.6

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

 Amortisation is provided on the following bases:

Patents and licences
-
20%
on straight line
Development costs
-
20%
on straight line

Page 4

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on straight line
Computer equipment
-
33%
on 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.

 
2.8

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 include labour and attributable overheads.

At each reporting 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.

 
2.9

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.

 
2.10

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

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
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

Financial instruments

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.

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 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.


3.


Employees

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

Page 6

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Patents and licences
Development costs
Total

£
£
£



Cost


At 1 September 2023
141,036
514,511
655,547


Additions
15,808
82,559
98,367


Disposals
(27,766)
-
(27,766)



At 31 August 2024

129,078
597,070
726,148



Amortisation


At 1 September 2023
50,975
-
50,975


Charge for the year on owned assets
30,572
-
30,572


On disposals
(14,434)
-
(14,434)



At 31 August 2024

67,113
-
67,113



Net book value



At 31 August 2024
61,965
597,070
659,035



At 31 August 2023
90,061
514,511
604,572



Page 7

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost 


At 1 September 2023
17,064
1,728
18,792


Additions
25,852
-
25,852



At 31 August 2024

42,916
1,728
44,644



Depreciation


At 1 September 2023
4,266
1,467
5,733


Charge for the year on owned assets
6,857
261
7,118



At 31 August 2024

11,123
1,728
12,851



Net book value



At 31 August 2024
31,793
-
31,793



At 31 August 2023
12,798
261
13,059


6.


Debtors

2024
2023
£
£


Other debtors
13,774
15,217

Prepayments and accrued income
3,225
388

16,999
15,605



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,080
5,800

Other creditors
344
2,135

10,424
7,935


Page 8

 
OSTIQUE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Related party transactions

Included within other creditors are amounts totalling £Nil (2023 - £1,650) owed to the directors.  These amounts are interest free and repayable on demand.

 
Page 9