OAKWOOD MEDIA HOLDCO LIMITED
OAKWOOD MEDIA HOLDCO LIMITED
Company No:
OAKWOOD MEDIA HOLDCO LIMITED
Unaudited Financial Statements
For the financial year ended 30 April 2022
Pages for filing with the registrar
For the financial year ended 30 April 2022
Pages for filing with the registrar
Unaudited Financial Statements
Contents
COMPANY INFORMATION
COMPANY INFORMATION (continued)
DIRECTORS | P W Marshall |
N D A Sims |
SECRETARY | P W Marshall |
REGISTERED OFFICE | C/O Bishop Fleming LLP |
10 Temple Back | |
Bristol | |
BS1 6FL | |
United Kingdom |
COMPANY NUMBER | 08091877 (England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
10 Temple Back | |
Bristol | |
BS1 6FL |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OAKWOOD MEDIA HOLDCO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OAKWOOD MEDIA HOLDCO LIMITED (continued)
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Oakwood Media Holdco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakwood Media Holdco Limited. You consider that Oakwood Media Holdco Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Oakwood Media Holdco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
Bristol
BS1 6FL
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION (continued)
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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706,823 | 706,823 | |||
Creditors | ||||
Amounts falling due within one year | 4 | (
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(
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Net current liabilities | (391,978) | (389,778) | ||
Total assets less current liabilities | 314,845 | 317,045 | ||
Creditors | ||||
Amounts falling due after more than one year | 5 | (
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(
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
-
The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476; -
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; and -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.
The financial statements of Oakwood Media Holdco Limited (registered number:
N D A Sims
Director |
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
General information and basis of accounting
Oakwood Media Holdco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Dividend income
Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Trade and other creditors
Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
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.
2. Employees
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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3. Fixed asset investments
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 May 2021 |
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At 30 April 2022 |
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Carrying value at 30 April 2022 |
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Carrying value at 30 April 2021 |
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4. Creditors: amounts falling due within one year
2022 | 2021 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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5. Creditors: amounts falling due after more than one year
2022 | 2021 | ||
£ | £ | ||
Other creditors |
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Other creditors consist of preference shares which are entitled to a fixed dividend at 1.0% per annum. They are redeemable at par at any time at the option of the company.
6. Called-up share capital
2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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202,359 | 202,359 |
7. Related party transactions
During the year the directors received dividends totalling £264,200 (2020: £209,700).
The company has taken advantage of the exemption in Section 1AC.35 of FRS 102 and not disclosed related party transactions with companies within the group.