Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 true false 2025-01-01.5 5 true false 01415853 2025-01-01 2025-12-31 01415853 2024-01-01 2024-12-31 01415853 2025-12-31 01415853 2024-12-31 01415853 2024-01-01 01415853 c:CompanySecretary1 2025-01-01 2025-12-31 01415853 c:Director1 2025-01-01 2025-12-31 01415853 c:Director2 2025-01-01 2025-12-31 01415853 c:RegisteredOffice 2025-01-01 2025-12-31 01415853 d:OfficeEquipment 2025-01-01 2025-12-31 01415853 d:OfficeEquipment 2025-12-31 01415853 d:OfficeEquipment 2024-12-31 01415853 d:OfficeEquipment d:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01415853 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 01415853 d:ComputerSoftware 2025-12-31 01415853 d:ComputerSoftware 2024-12-31 01415853 d:CurrentFinancialInstruments 2025-12-31 01415853 d:CurrentFinancialInstruments 2024-12-31 01415853 d:Non-currentFinancialInstruments 2025-12-31 01415853 d:Non-currentFinancialInstruments 2024-12-31 01415853 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 01415853 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01415853 d:Non-currentFinancialInstruments d:AfterOneYear 2025-12-31 01415853 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 01415853 d:ShareCapital 2025-01-01 2025-12-31 01415853 d:ShareCapital 2025-12-31 01415853 d:ShareCapital 2024-01-01 2024-12-31 01415853 d:ShareCapital 2024-12-31 01415853 d:ShareCapital 2024-01-01 01415853 d:SharePremium 2025-01-01 2025-12-31 01415853 d:SharePremium 2025-12-31 01415853 d:SharePremium 2024-01-01 2024-12-31 01415853 d:SharePremium 2024-12-31 01415853 d:SharePremium 2024-01-01 01415853 c:OrdinaryShareClass1 2025-01-01 2025-12-31 01415853 c:OrdinaryShareClass1 2025-12-31 01415853 c:OrdinaryShareClass1 2024-12-31 01415853 c:FRS102 2025-01-01 2025-12-31 01415853 c:Audited 2025-01-01 2025-12-31 01415853 c:FullAccounts 2025-01-01 2025-12-31 01415853 c:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 01415853 c:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 01415853 7 2025-01-01 2025-12-31 01415853 d:ComputerSoftware d:OwnedIntangibleAssets 2025-01-01 2025-12-31 01415853 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01415853 DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED CONTENTS
| Page
Company information | 1
Balance sheet | 2
Statement of changes in equity | 3
Notes to the financial statements | 4 - 11
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED COMPANY INFORMATION
Directors | J Ozer
| A Perlman
Company secretary | F Raymond
Registered number | 01415853
Registered office | Lady Ruth House
| Gabriel Mews
| Crewys Road
| London
| NW2 2GD
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:01415853
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible fixed assets | 4 |  | 16,141 |  | 179,022
Tangible fixed assets | 5 |  | 4,470 |  | 1,261
|  |  | 20,611 |  | 180,283
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 6 | - |  | 255,541 |
Debtors: amounts falling due within one year | 6 | 39,837 |  | 57,882 |
Cash at bank and in hand |  | 1,958,579 |  | 2,020,346 |
|  | 1,998,416 |  | 2,333,769 |
Creditors: amounts falling due within one year | 7 | (500,483) |  | (814,511) |
Net current assets |  |  | 1,497,933 |  | 1,519,258
Total assets less current liabilities |  |  | 1,518,544 |  | 1,699,541
Creditors: amounts falling due after more than one year | 8 |  | (196,044) |  | (377,041)
Net assets |  |  | 1,322,500 |  | 1,322,500
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 522,500 |  | 522,500
Share premium account | 10 |  | 800,000 |  | 800,000
Total equity |  |  | 1,322,500 |  | 1,322,500
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 profit and loss account 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:
J Ozer
Director
Date: 24 April 2026
The notes on pages 4 to 11 form part of these financial statements. Page 2
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Total equity
| £ | £ | £
At 1 January 2024 | 82,500 | - | 82,500
Comprehensive income for the year |  |  |
Result for the year | - | - | -
Total comprehensive income for the year | - | - | -
Contributions by and distributions to owners |  |  |
Shares issued during the year | 440,000 | 800,000 | 1,240,000
At 31 December 2024 and 1 January 2025 | 522,500 | 800,000 | 1,322,500
Comprehensive income for the year |  |  |
Result for the year | - | - | -
Total comprehensive income for the year | - | - | -
At 31 December 2025 | 522,500 | 800,000 | 1,322,500
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Development Company for Israel (International) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is Lady Ruth House, Gabriel Mews, Crewys Road, London, NW2 2GD. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The company acts as an agent for the promotion and distribution of State of Israel bonds. Under the terms of the agreement with the Ministry of Finance of the State of Israel the company's costs are reimbursed. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
| 2.3 | Turnover
Revenue relates to cost reimbursements received from the Israeli Ministry of Finance in respect of the provision and distribution of State of Israel bonds.
| 2.4 | 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:
|  |  |  | Office equipment | - | 33% |
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 4
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Sterling (£). 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.
| 2.6 | Share capital
Ordinary shares are classified as equity.
| 2.7 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | 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. Amortisation is provided on the following bases:
|  |  |  | Computer software | - | 25% |
| 2.9 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. Page 5
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including other debtors, cash, bank balances and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest rate method, less any impairment. Financial liabilities Basic financial liabilities, including other creditors and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Page 6
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. 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. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2024 - 5).
Page 7
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Intangible assets
|  | Computer software
|  | £
| Cost |
| At 1 January 2025 | 1,096,794
| At 31 December 2025 | 1,096,794
| Amortisation |
| At 1 January 2025 | 917,772
| Charge for the year | 162,881
| At 31 December 2025 | 1,080,653
| Net book value |
| At 31 December 2025 | 16,141
| At 31 December 2024 | 179,022
Page 8
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 January 2025 | 1,891
| Additions | 5,759
| At 31 December 2025 | 7,650
| Depreciation |
| At 1 January 2025 | 630
| Charge for the year | 2,550
| At 31 December 2025 | 3,180
| Net book value |
| At 31 December 2025 | 4,470
| At 31 December 2024 | 1,261
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Amounts owed by group undertakings | - | 255,541
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | - | 44,775
| Other debtors | 11,479 | 11,707
| Prepayments and accrued income | 28,358 | 1,400
|  | 39,837 | 57,882
| The balance included within amounts owed to group undertakings due after more than one year was £Nil (2024: £255,541). The balance bore interest at a rate of 0.5% per annum and was repaid in full during the year, ahead of its contractual repayment date of 31 December 2030. The balance included within amounts owed by group undertakings due within one year of £Nil (2024: £44,775) also bears interest at a rate of 0.5% per annum.
Page 9
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 11,001 | 44,776
| Corporation tax | 1,086 | 1,295
| Other taxation and social security | 29,011 | 40,566
| Other creditors | 16,262 | -
| Accruals and deferred income | 443,123 | 727,874
|  | 500,483 | 814,511
| Amounts owed to group undertakings are interest free, have no fixed repayment date and are repayable on demand.
8. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 39,000 | 39,000
| Accruals | 157,044 | 338,041
|  | 196,044 | 377,041
| The balance included within amounts owed to group undertakings due after more than one year of £39,000 (2024: £39,000) bears interest at 2% below the 12 month Secured Overnight Financing Rate per annum, collared at 0% and can be repaid subject to obtaining the FCA's prior written consent.
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 522,500 (2024 - 522,500) Ordinary shares of £1.00 each | 522,500 | 522,500
| There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.
10. | Reserves
Share premium account The share premium reserve includes any premiums received on issue of share capital. Page 10
DEVELOPMENT COMPANY FOR ISRAEL (INTERNATIONAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Parent company
The parent company of the smallest group of undertakings of which the company is a member is Development Company for Israel (Holdings) Limited, whose registered office address is Lady Ruth House Gabriel Mews, Crewys Road, London, United Kingdom, NW2 2GD. Group financial statements are not prepared.
12. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 27 April 2026 by Nicholas Anderson (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 11