Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3123The company provides support to other group companies in relation to installation and maintenance services for electrical vehical charging infrastructure.2024-01-01falsetruetruefalse32 13342675 2024-01-01 2024-12-31 13342675 2023-01-01 2023-12-31 13342675 2024-12-31 13342675 2023-12-31 13342675 2023-01-01 13342675 c:Director2 2024-01-01 2024-12-31 13342675 d:MotorVehicles 2024-01-01 2024-12-31 13342675 d:MotorVehicles 2024-12-31 13342675 d:MotorVehicles 2023-12-31 13342675 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13342675 d:OfficeEquipment 2024-01-01 2024-12-31 13342675 d:OfficeEquipment 2024-12-31 13342675 d:OfficeEquipment 2023-12-31 13342675 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13342675 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13342675 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-12-31 13342675 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 13342675 d:CurrentFinancialInstruments 2024-12-31 13342675 d:CurrentFinancialInstruments 2023-12-31 13342675 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 13342675 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13342675 d:ShareCapital 2024-01-01 2024-12-31 13342675 d:ShareCapital 2024-12-31 13342675 d:ShareCapital 2023-01-01 2023-12-31 13342675 d:ShareCapital 2023-12-31 13342675 d:ShareCapital 2023-01-01 13342675 d:SharePremium 2024-01-01 2024-12-31 13342675 d:SharePremium 2024-12-31 13342675 d:SharePremium 2023-01-01 2023-12-31 13342675 d:SharePremium 2023-12-31 13342675 d:SharePremium 2023-01-01 13342675 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13342675 d:RetainedEarningsAccumulatedLosses 2024-12-31 13342675 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13342675 d:RetainedEarningsAccumulatedLosses 2023-12-31 13342675 d:RetainedEarningsAccumulatedLosses 2023-01-01 13342675 c:FRS102 2024-01-01 2024-12-31 13342675 c:Audited 2024-01-01 2024-12-31 13342675 c:FullAccounts 2024-01-01 2024-12-31 13342675 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13342675 d:WithinOneYear 2024-12-31 13342675 d:WithinOneYear 2023-12-31 13342675 d:BetweenOneFiveYears 2024-12-31 13342675 d:BetweenOneFiveYears 2023-12-31 13342675 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13342675 4 2024-01-01 2024-12-31 13342675 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2024-01-01 2024-12-31 13342675 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 13342675










IDUNA OMA LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
IDUNA OMA LIMITED
REGISTERED NUMBER: 13342675

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
159
10,784

Tangible assets
 6 
70,977
102,340

  
71,136
113,124

Current assets
  

Debtors: amounts falling due within one year
 7 
3,383,077
1,720,032

Cash at bank and in hand
 8 
337,990
263,120

  
3,721,067
1,983,152

Creditors: amounts falling due within one year
 9 
(11,060,032)
(5,441,369)

Net current liabilities
  
 
 
(7,338,965)
 
 
(3,458,217)

Total assets less current liabilities
  
(7,267,829)
(3,345,093)

  

Net liabilities
  
(7,267,829)
(3,345,093)

Page 1

 
IDUNA OMA LIMITED
REGISTERED NUMBER: 13342675
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
10
10

Share premium account
 10 
3,892
-

Profit and loss account
 10 
(7,271,731)
(3,345,103)

  
(7,267,829)
(3,345,093)


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: 




A J Gray
Director

Date: 30 June 2025

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
IDUNA OMA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
10
-
(522,112)
(522,102)


Comprehensive income for the year

Loss for the year (as restated)
-
-
(2,822,991)
(2,822,991)
Total comprehensive income for the year
-
-
(2,822,991)
(2,822,991)



At 1 January 2024 (as restated)
10
-
(3,345,103)
(3,345,093)


Comprehensive income for the year

Loss for the year
-
-
(3,926,628)
(3,926,628)
Total comprehensive income for the year
-
-
(3,926,628)
(3,926,628)


Contributions by and distributions to owners

Shares issued during the year
-
3,892
-
3,892


At 31 December 2024
10
3,892
(7,271,731)
(7,267,829)


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Iduna OMA Limited (company number 13342675) is a private company, limited by shares, incorporated and domiciled in England and Wales with a registered office and principal place of business at C/O Mazars, 1 St Peters Square, Manchester, M2 3DE. 

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

Going concern

The financial statements have been prepared on a going concern basis as the directors believe the company has access to sufficient resources to be able to carry out its activities.
During 2024 the Iduna Infrastructure Group secured a debt facility of up to £55m from Natwest Bank and KfW IPEX-Bank. This was secured by Iduna EVCI Asset Co 1 Limited, which is a fellow subsidiary of the Iduna Infrastructure group. The debt facility includes a mechanism whereby the following year’s commitment is reviewed at the end of each year, to ensure that the group is managed within its financial facilities. This facility is available to be drawn down at the company level. As at 31 December 2024, tranches of £29m of this facility had been drawn down. Further tranches have been forecast to be drawn down in the period under assessment which accord with agreed performance targets.
Post year end, Iduna Infrastructure Limited, the holding company of the Iduna Infrastructure group (“the Group”), secured funding in the form of loan notes from Octopus Energy Generation (OEG) of up to £16m that can be drawn down in tranches. As at the date of this report, £6.3m had been drawn down with further tranches forecasted.
Management have considered several factors in their assessment of going concern. These include important factors such as the selling price, utilisation of the network, rate of installation, competitor pricing, electricity price inflation, supply chain inflation, IT requirements, capital expenditure per charger and staff expansion costs.
These factors are also set in the context of the wholesale electricity price volatility, forecasted rates of inflation, further impacts from global conflicts and the Electric vehicle ownership levels. Whilst an extreme movement of one of these factors could result in a change in forecast cash need, the funding currently available would never be exceeded in the next 12 months. The business has performed working capital phasing checks and reasonable worst case scenario sensitivity analysis calculations. This includes reduction to the selling price, increase to the cost of electricity and a reduction in utilization due to a decrease in Electric vehicle ownership growth or increase in competitors.
 
Page 4

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.2
Going concern (continued)


An important factor for the business is that its cash requirements are a result of its capital expenditure need for expansion. Should any cash reserves become unpredictably constrained, there is the option for the business to control and slow its expansion to conserve the necessary cash and bridge and shortfall. Management can demonstrate that either enough cash is available to continue, or that there would be a controllable reaction to conserve cash from capital investment to continue funding losses.
All companies within the Iduna Infrastructure group have committed to providing mutual support in allocating working capital across the group to support the operations of each individual group company. The Group's forecasts and projections, taking account of reasonable possible changes in trading performance, show that the Group is dependent on the above finance being made available to the Group by the lenders during the 2025 year. 
After making enquiries and based on the financial support confirmed by the lenders, the Directors have a reasonable expectation that the Company and Group have adequate resources to continue in operation existence for the foreseeable future. The Company and Group therefore have concluded that no material uncertainty exists in the current climate in respect of going concern.

 
2.3

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.

 
2.4

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.

Page 5

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

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.

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.

 
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:

Motor vehicles
-
5 years
Office equipment
-
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.

Page 6

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

 
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

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

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Page 7

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and judgements concering the future. The resulting accounting estimates, will be by definition, seldom equal the related actual results.  

Page 8

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 32 (2023 - 23).


5.


Intangible assets




Brand development

£



Cost


At 1 January 2024
31,875



At 31 December 2024

31,875



Amortisation


At 1 January 2024
21,091


Charge for the year on owned assets
10,625



At 31 December 2024

31,716



Net book value



At 31 December 2024
159



At 31 December 2023
10,784



Page 9

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
44,620
96,507
141,127


Additions
-
10,154
10,154



At 31 December 2024

44,620
106,661
151,281



Depreciation


At 1 January 2024
18,592
20,195
38,787


Charge for the year on owned assets
8,924
32,593
41,517



At 31 December 2024

27,516
52,788
80,304



Net book value



At 31 December 2024
17,104
53,873
70,977



At 31 December 2023
26,028
76,312
102,340


7.


Debtors

As restated
2024
2023
£
£


Trade debtors
434
32,771

Amounts owed by group undertakings
3,154,473
1,475,332

Other debtors
150,450
134,345

Prepayments and accrued income
77,720
77,584

3,383,077
1,720,032


The prior year restatement relates to sales and purchases made between group members recognised in the incorrect period. The impact on the financial statements is an increase in the amounts owed by group undertakings in the prior year of £33,824.

Page 10

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
337,990
263,120

337,990
263,120



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
51,068
278,337

Amounts owed to group undertakings
10,040,941
4,766,074

Other taxation and social security
195,780
126,207

Other creditors
60,609
42,338

Accruals and deferred income
711,634
228,413

11,060,032
5,441,369



10.


Reserves

Share premium account

The share premium account represents the amount by which shares have been issued in excess of their nominal value.

Profit and loss account

The profit and loss account is mde up of the accumulated profits and losses of the Company less any distributions.

Page 11

 
IDUNA OMA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £155,299 (2023: £107,972). Contributions totalling £12,305 (2023: £19,309) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 December 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
885
1,180

Later than 1 year and not later than 5 years
-
885

885
2,065


13.


Controlling party

The Company is wholly owned by its ultimate parent, Iduna Infrastructure Limited, a company incorporated and registered in the United Kingdom. The Company is included within the consolidated financial statements of the ultimate parent, which can be obtained from Companies House or its registered office. Its registered office is located at C/O Mazars LLP, One St Peter's Square, Manchester, M2 3DE.
 
The ultimate controlling party is Sky EV Charging Holdco Limited, due to its majority shareholding of the ultimate parent.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 June 2025 by Andrew Malpass BA FCA (Senior statutory auditor) on behalf of WR Partners.

 
Page 12