Outset Limited (formerly Outset (UK) Limited) Filleted accounts for Companies House (small and micro)
Outset Limited (formerly Outset (UK) Limited) Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04607565
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Financial Statements |
Year ended 31 December 2021
Contents |
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Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Investments |
7 |
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Current assets
Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Share premium account |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2022
, and are signed on behalf of the board by:
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Director |
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Company registration number:
04607565
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Notes to the Financial Statements |
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Consolidation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
61
(2020:
64
).
5.
Intangible assets
Development costs |
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£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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Amortisation |
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At 1 January 2021 |
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Charge for the year |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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6.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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7.
Investments
Shares in group undertakings |
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£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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Impairment |
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At 1 January 2021 and 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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The company owns 100% of the issued share capital in Medway Safety (Holdings) Limited. Medway Safety (Holdings) Limited owns 100% of the share capital in UK Health, Safety & Environmental Training Limited and 100% of the share capital in Medway Safety Limited.
The company owns 100% of the issued share capital of Active Career Transition Limited, FINHR Limited, Primed Limited and Outset (UK) Limited (formerly Outset Limited), all of which were non trading for the current and previous year.
The company owns 100% of the issued share capital of Employment Input Limited.
8.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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9.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021 |
2020 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
– |
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11.
Director's advances, credits and guarantees
12.
Related party transactions