Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30122023-07-01falseNo description of principal activity6falsetruefalse 11592223 2023-07-01 2024-06-30 11592223 2022-07-01 2023-06-30 11592223 2024-06-30 11592223 2023-06-30 11592223 c:Director1 2023-07-01 2024-06-30 11592223 c:Director2 2023-07-01 2024-06-30 11592223 c:Director2 2024-06-30 11592223 c:Director3 2023-07-01 2024-06-30 11592223 c:Director4 2023-07-01 2024-06-30 11592223 c:Director4 2024-06-30 11592223 c:Director5 2023-07-01 2024-06-30 11592223 c:Director5 2024-06-30 11592223 c:RegisteredOffice 2023-07-01 2024-06-30 11592223 d:FurnitureFittings 2023-07-01 2024-06-30 11592223 d:FurnitureFittings 2024-06-30 11592223 d:FurnitureFittings 2023-06-30 11592223 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11592223 d:ComputerEquipment 2023-07-01 2024-06-30 11592223 d:ComputerEquipment 2024-06-30 11592223 d:ComputerEquipment 2023-06-30 11592223 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11592223 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 11592223 d:OtherPropertyPlantEquipment 2024-06-30 11592223 d:OtherPropertyPlantEquipment 2023-06-30 11592223 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11592223 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11592223 d:CurrentFinancialInstruments 2024-06-30 11592223 d:CurrentFinancialInstruments 2023-06-30 11592223 d:Non-currentFinancialInstruments 2024-06-30 11592223 d:Non-currentFinancialInstruments 2023-06-30 11592223 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11592223 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11592223 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11592223 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11592223 d:ShareCapital 2024-06-30 11592223 d:ShareCapital 2023-06-30 11592223 d:OtherMiscellaneousReserve 2024-06-30 11592223 d:OtherMiscellaneousReserve 2023-06-30 11592223 d:RetainedEarningsAccumulatedLosses 2024-06-30 11592223 d:RetainedEarningsAccumulatedLosses 2023-06-30 11592223 c:FRS102 2023-07-01 2024-06-30 11592223 c:Audited 2023-07-01 2024-06-30 11592223 c:FullAccounts 2023-07-01 2024-06-30 11592223 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11592223 d:WithinOneYear 2024-06-30 11592223 d:WithinOneYear 2023-06-30 11592223 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 11592223 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 11592223 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 11592223 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 11592223 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11592223 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2024-06-30 11592223 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-06-30 11592223 d:LeasedAssetsHeldAsLessee 2024-06-30 11592223 d:LeasedAssetsHeldAsLessee 2023-06-30 11592223 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Company registration number: 11592223







DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


OMNI BRIDGEWAY (UK) LIMITED






































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OMNI BRIDGEWAY (UK) LIMITED
 


 
COMPANY INFORMATION


Directors
A C Croft 
G M Kull (appointed 15 January 2024)
M A Wells 
J T Sambrook (resigned 15 January 2024)
W J Wielinga (resigned 15 January 2024)




Registered number
11592223



Registered office
Link House
Level 2

78 Cowcross Street

London

EC1M 6EJ




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


OMNI BRIDGEWAY (UK) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 11








 


OMNI BRIDGEWAY (UK) LIMITED
REGISTERED NUMBER:11592223



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,187,389
7,489

  
1,187,389
7,489

Current assets
  

Debtors: amounts falling due within one year
 5 
4,407,932
914,174

Cash at bank and in hand
  
80,516
214,764

  
4,488,448
1,128,938

Creditors: amounts falling due within one year
 6 
(2,677,508)
(181,936)

Net current assets
  
 
 
1,810,940
 
 
947,002

Total assets less current liabilities
  
2,998,329
954,491

Creditors: amounts falling due after more than one year
  
(933,272)
-

  

Net assets
  
2,065,057
954,491


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
780,947
493,810

Profit and loss account
  
1,284,010
460,581

  
2,065,057
954,491


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: 




M A Wells
A C Croft
Director
Director


Date: 26 March 2025

Page 1

 


OMNI BRIDGEWAY (UK) LIMITED
REGISTERED NUMBER:11592223


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


G M Kull
Director
Date: 26 March 2025

The notes on  pages 3 - 11 form part of these financial statements.

Page 2

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Omni Bridgeway (UK) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is disclosed on the company information page.
The principle place of business is 78 Cowcross Street, London, EC1M 6EJ.

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 directors have chosen to early adopt amendments to FRS 102 Section 1A in line with the period review. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors believe it is appropriate that the financial statements have been prepared on the going concern basis. They consider that the company has adquate resources to continue its operations in the future.

 
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'.

Page 3

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

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.

 
2.6

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.

Page 4

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

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.

Page 5

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
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:

Fixtures and fittings
-
2-5 years
Computer equipment
-
2-5 years
Right-of-use asset
-
3 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.

 
2.9

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

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.
 
 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 receipts 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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 6).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Right-of-use asset
Total

£
£
£
£



Cost or valuation


At 1 July 2023
-
12,418
-
12,418


Additions
19,541
17,463
1,303,741
1,340,745


Disposals
-
(1,442)
-
(1,442)



At 30 June 2024

19,541
28,439
1,303,741
1,351,721



Depreciation


At 1 July 2023
-
4,929
-
4,929


Charge for the year on owned assets
2,670
6,072
152,103
160,845


Disposals
-
(1,442)
-
(1,442)



At 30 June 2024

2,670
9,559
152,103
164,332



Net book value



At 30 June 2024
16,871
18,880
1,151,638
1,187,389



At 30 June 2023
-
7,489
-
7,489

The net book value of right-of-use assets are as follows:


2024
2023
£
£



Right-of-use asset
1,151,638
-

1,151,638
-

The depreciation charged for the year on right-of-use assets is £152,103 (2023 - £Nil).

Page 8

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
4,149,651
784,953

Other debtors
115,487
39,471

Prepayments and accrued income
76,981
13,995

Tax recoverable
-
32,054

Deferred taxation
65,813
43,701

4,407,932
914,174



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,174
43,588

Amounts owed to group undertakings
1,943,876
-

Corporation tax
297,152
-

Other taxation and social security
80,866
-

Obligations under finance lease and hire purchase contracts
238,148
-

Annual leave accrual
79,620
48,586

Accruals and deferred income
33,672
89,762

2,677,508
181,936


There is a fixed and floating charge secured over the company's assets.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
933,272
-

933,272
-


Page 9

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Leases

Lease liabilities are due as follows:


2024
2023
£
£


Within one year
238,148
-

Between 1-5 years
933,272
-

1,171,420
-




9.


Commitments under operating leases

At 30 June 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
-
21,410

-
21,410

Page 10

 


OMNI BRIDGEWAY (UK) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Related party transactions

At the year end the related party balances are as follows:


2024
2023
£
£

Omni Bridgeway (Fund 5) GPA Pty Ltd
350,247
-
Omni Bridgeway Management (USA) LLC
704
-
Omni Bridgeway Limited
68,205
-
Omni Bridgeway (Cayman) Limited
252,229
-
Omni Bridgeway B.V.
3,478,266
-
Omni Bridgeway B.V.
(4,967)
-
Omni Bridgeway Limited
(1,938,909)
784,953
2,205,775
784,953

All loans are interest free and repayable on demand.
During the year the intercompany sales were as follows:



11.


Controlling party

The parent and ultimate controlling party is Omni Bridgeway Limited, a listed entity registered and traded on the Australian Stock Exchange (ISIN AU0000082489) for which consolidated group accounts are prepared including the results of Omni Bridgeway (UK) Limited. The consolidated financial statements for this company are available to the public at https://omnibridgeway .com/investors/reports -and-presentations /annual-reports.
At the balance sheet date there was a fixed and floating charge over the assets of the company in relation to a debt facility entered into by the parent company.

12.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 26 March 2025 by Andrew Galliers (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 11