Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-282024-03-28No description of principal activityfalse2023-03-29false03falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02123762 2023-03-29 2024-03-28 02123762 2022-03-29 2023-03-28 02123762 2024-03-28 02123762 2023-03-28 02123762 c:Director2 2023-03-29 2024-03-28 02123762 d:Buildings d:LongLeaseholdAssets 2023-03-29 2024-03-28 02123762 d:Buildings d:LongLeaseholdAssets 2024-03-28 02123762 d:Buildings d:LongLeaseholdAssets 2023-03-28 02123762 d:LandBuildings 2024-03-28 02123762 d:LandBuildings 2023-03-28 02123762 d:CurrentFinancialInstruments 2024-03-28 02123762 d:CurrentFinancialInstruments 2023-03-28 02123762 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-28 02123762 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-28 02123762 d:ShareCapital 2024-03-28 02123762 d:ShareCapital 2023-03-28 02123762 d:RevaluationReserve 2024-03-28 02123762 d:RevaluationReserve 2023-03-28 02123762 d:InvestmentPropertiesRevaluationReserve 2023-03-29 2024-03-28 02123762 d:RetainedEarningsAccumulatedLosses 2023-03-29 2024-03-28 02123762 d:RetainedEarningsAccumulatedLosses 2024-03-28 02123762 d:RetainedEarningsAccumulatedLosses 2023-03-28 02123762 c:FRS102 2023-03-29 2024-03-28 02123762 c:AuditExempt-NoAccountantsReport 2023-03-29 2024-03-28 02123762 c:FullAccounts 2023-03-29 2024-03-28 02123762 c:PrivateLimitedCompanyLtd 2023-03-29 2024-03-28 02123762 e:PoundSterling 2023-03-29 2024-03-28 iso4217:GBP xbrli:pure

Registered number: 02123762










OPTIONSPACE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 MARCH 2024

 
OPTIONSPACE LIMITED
REGISTERED NUMBER: 02123762

BALANCE SHEET
AS AT 28 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
175,658
182,050

Investments
 5 
414,088
414,088

  
589,746
596,138

Current assets
  

Debtors: amounts falling due within one year
 6 
140,482
144,382

Cash at bank and in hand
 7 
6,296
4,125

  
146,778
148,507

Creditors: amounts falling due within one year
 8 
(302,654)
(312,274)

Net current liabilities
  
 
 
(155,876)
 
 
(163,767)

Total assets less current liabilities
  
433,870
432,371

  

Net assets
  
433,870
432,371


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
 9 
36,019
36,019

Profit and loss account
 9 
397,751
396,252

  
433,870
432,371


Page 1

 
OPTIONSPACE LIMITED
REGISTERED NUMBER: 02123762
    
BALANCE SHEET (CONTINUED)
AS AT 28 MARCH 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




T. J. Cowley
Director

Date: 18 March 2025

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

Page 2

 
OPTIONSPACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no. 02123762). The address of the registered office is 43 Canning Street, Liverpool, L8 7NN.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is of property rental and management.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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.

Page 3

 
OPTIONSPACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 balance sheet date in the countries where the Company operates and generates income.


 
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.

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:

Long-term leasehold land and buildings
-
Over 50 years

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

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.

 
2.7

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.

 
2.8

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.

Page 4

 
OPTIONSPACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.9

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
-
3


4.


TANGIBLE FIXED ASSETS





Long-term leasehold property

£



Cost or valuation


At 29 March 2023
206,231



At 28 March 2024

206,231



Depreciation


At 29 March 2023
24,181


Charge for the year on owned assets
6,392



At 28 March 2024

30,573



Net book value



At 28 March 2024
175,658



At 28 March 2023
182,050

Page 5

 
OPTIONSPACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

           4.TANGIBLE FIXED ASSETS (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Long leasehold
175,658
182,050

175,658
182,050



5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 29 March 2023
414,088



At 28 March 2024
414,088





6.


Debtors

2024
2023
£
£


Other debtors
140,482
144,382

140,482
144,382



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,296
4,125

6,296
4,125


Page 6

 
OPTIONSPACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,608
15,228

Other creditors
295,146
295,146

Accruals and deferred income
1,900
1,900

302,654
312,274



9.


Reserves

Investment property revaluation reserve

Relates to the revaluation of freehold and leasehold property in prior periods.

Profit and loss account

Retained earnings include all current and prior period retained profits and losses less dividends paid.

 
Page 7