Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31202024-04-01falseNo description of principal activity21falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04174322 2024-04-01 2025-03-31 04174322 2025-03-31 04174322 2023-04-01 2024-03-31 04174322 2024-03-31 04174322 c:CompanySecretary1 2024-04-01 2025-03-31 04174322 c:Director1 2024-04-01 2025-03-31 04174322 c:Director2 2024-04-01 2025-03-31 04174322 c:Director3 2024-04-01 2025-03-31 04174322 c:Director4 2024-04-01 2025-03-31 04174322 c:Director4 2025-03-31 04174322 c:RegisteredOffice 2024-04-01 2025-03-31 04174322 d:MotorVehicles 2024-04-01 2025-03-31 04174322 d:MotorVehicles 2025-03-31 04174322 d:MotorVehicles 2024-03-31 04174322 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04174322 d:FurnitureFittings 2024-04-01 2025-03-31 04174322 d:FurnitureFittings 2025-03-31 04174322 d:FurnitureFittings 2024-03-31 04174322 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04174322 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04174322 d:CurrentFinancialInstruments 2025-03-31 04174322 d:CurrentFinancialInstruments 2024-03-31 04174322 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 04174322 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04174322 d:ShareCapital 2025-03-31 04174322 d:ShareCapital 2024-03-31 04174322 d:RetainedEarningsAccumulatedLosses 2025-03-31 04174322 d:RetainedEarningsAccumulatedLosses 2024-03-31 04174322 c:FRS102 2024-04-01 2025-03-31 04174322 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04174322 c:FullAccounts 2024-04-01 2025-03-31 04174322 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04174322 d:WithinOneYear 2025-03-31 04174322 d:WithinOneYear 2024-03-31 04174322 d:BetweenOneFiveYears 2025-03-31 04174322 d:BetweenOneFiveYears 2024-03-31 04174322 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure
Company registration number: 04174322







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025


OPEN CONTRACTS LIMITED






































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OPEN CONTRACTS LIMITED
 


 
COMPANY INFORMATION


Directors
P J Smith 
K M Smith 
M L J Parsons 
M P Skilbeck (appointed 1 April 2025)




Company secretary
K M Smith



Registered number
04174322



Registered office
Temple Chambers
3-7 Temple Avenue

London

EC4Y 0HP




Accountant
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


OPEN CONTRACTS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


OPEN CONTRACTS LIMITED
REGISTERED NUMBER:04174322



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,514
49,819

  
49,514
49,819

Current assets
  

Work in progress
  
230,895
208,939

Debtors: amounts falling due within one year
 5 
2,147,943
1,454,692

Cash at bank and in hand
  
1,166,711
1,518,155

  
3,545,549
3,181,786

Creditors: amounts falling due within one year
 6 
(2,367,823)
(2,062,282)

Net current assets
  
 
 
1,177,726
 
 
1,119,504

Total assets less current liabilities
  
1,227,240
1,169,323

Provisions for liabilities
  

Deferred tax
  
(11,264)
(11,429)

  
 
 
(11,264)
 
 
(11,429)

Net assets
  
1,215,976
1,157,894


Capital and reserves
  

Allotted, called up and fully paid share capital
  
200
200

Profit and loss account
  
1,215,776
1,157,694

  
1,215,976
1,157,894


Page 1

 


OPEN CONTRACTS LIMITED
REGISTERED NUMBER:04174322


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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: 



................................................
P J Smith
Director

Date: 4 August 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


OPEN CONTRACTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Open Contracts 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 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

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.

 
2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
Straight line
Fixtures and fittings
-
33%
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.

  
2.4

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Page 3

 


OPEN CONTRACTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 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.



3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2024 - 21).

Page 4

 


OPEN CONTRACTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Fixtures and fittings
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2024
33,517
114,475
147,992


Additions
8,264
30,803
39,067



At 31 March 2025

41,781
145,278
187,059



Depreciation


At 1 April 2024
19,469
78,704
98,173


Charge for the year
10,058
29,314
39,372



At 31 March 2025

29,527
108,018
137,545



Net book value



At 31 March 2025
12,254
37,260
49,514



At 31 March 2024
14,048
35,771
49,819


5.


Debtors

2025
2024
£
£


Trade debtors
2,122,571
1,424,759

Other debtors
18,382
20,024

Prepayments and accrued income
6,990
9,909

2,147,943
1,454,692


Page 5

 


OPEN CONTRACTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
1,550,199
1,291,359

Corporation tax
155,750
140,830

Other taxation and social security
386,566
334,638

Other creditors
14,651
15,796

Accruals and deferred income
260,657
279,659

2,367,823
2,062,282



7.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
22,185
115,000

Later than 1 year and not later than 5 years
7,105
19,320

29,290
134,320

 
Page 6