| Opinion Research Services Limited |
| Registered number: |
02904006 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
62,357 |
|
|
56,871 |
|
| Current assets |
| Debtors |
4 |
|
1,194,580 |
|
|
709,004 |
| Cash at bank and in hand |
|
|
484,308 |
|
|
2,030,308 |
|
|
|
1,678,888 |
|
|
2,739,312 |
|
| Creditors: amounts falling due within one year |
5 |
|
(564,068) |
|
|
(760,378) |
|
| Net current assets |
|
|
|
1,114,820 |
|
|
1,978,934 |
|
| Total assets less current liabilities |
|
|
|
1,177,177 |
|
|
2,035,805 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(914,893) |
|
|
(1,835,853) |
|
| Provisions for liabilities |
|
|
|
(3,452) |
|
|
(3,233) |
|
|
| Net assets |
|
|
|
258,832 |
|
|
196,719 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
258,830 |
|
|
196,717 |
|
| Shareholders' funds |
|
|
|
258,832 |
|
|
196,719 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Dale Hall |
| Director |
| Approved by the board on 20 December 2022 |
|
| Opinion Research Services Limited |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Government grants |
|
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold improvements |
over the lease term |
|
Plant and machinery |
over 3 to 5 years |
|
Motor vehicles |
25% on the reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
157 |
|
140 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Leasehold improvements |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2021 |
31,160 |
|
943,536 |
|
23,160 |
|
997,856 |
|
Additions |
16,778 |
|
20,098 |
|
- |
|
36,876 |
|
At 31 March 2022 |
47,938 |
|
963,634 |
|
23,160 |
|
1,034,732 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
2,273 |
|
917,358 |
|
21,354 |
|
940,985 |
|
Charge for the year |
3,593 |
|
27,345 |
|
452 |
|
31,390 |
|
At 31 March 2022 |
5,866 |
|
944,703 |
|
21,806 |
|
972,375 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
42,072 |
|
18,931 |
|
1,354 |
|
62,357 |
|
At 31 March 2021 |
28,887 |
|
26,178 |
|
1,806 |
|
56,871 |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
887,498 |
|
424,590 |
|
Other debtors |
307,082 |
|
284,414 |
|
|
|
|
|
|
1,194,580 |
|
709,004 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade creditors |
107,205 |
|
52,654 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
55,122 |
|
94,011 |
|
Taxation and social security costs |
278,400 |
|
451,373 |
|
Other creditors |
123,341 |
|
162,340 |
|
|
|
|
|
|
564,068 |
|
760,378 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
914,893 |
|
1,835,853 |
|
|
|
|
|
|
|
|
|
|
The company is engaged in a reconstruction which will enable the founding director/shareholder to withdraw from the day-to-day operation and management of the company. As part of this restructuring, Opinion Research Services Limited became a wholly owned subsidiary of ORS Genesis Limited.
On 27 March 2020 Opinion Research Services Limited’s non-core assets and surplus cash were transferred to ORS Genesis Limited by way of a dividend in specie and cash dividend.
ORS Genesis Limited continues to support Opinion Research Services Limited and has provided the company with cash loans totalling £914,893 for working capital during the restructuring.
The loan is unsecured and attracts interest at 6% over the Bank of England base rate.
The loan is repayable within 5 years and the repayment schedule will be determined by the company’s ongoing cash generation. |
|
|
| 7 |
Other financial commitments |
2022 |
|
2021 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
383,625 |
|
413,625 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Dale Hall |
|
Interest free and repayable on demand |
100,000 |
|
- |
|
- |
|
100,000 |
|
|
Rachel Hall |
|
Interest free and repayable on demand |
100,000 |
|
- |
|
- |
|
100,000 |
|
|
|
200,000 |
|
- |
|
- |
|
200,000 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Controlling party |
|
|
The company is a wholly owned subsidiary of ORS Genesis Limited and is under the ultimate control of Mr D Hall |
|
|
| 10 |
Other information |
|
|
Opinion Research Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
The Strand |
|
Swansea |
|
SA1 1AF |
