Opportunities Workshop Limited - Accounts to registrar (filleted) - small 23.1.2
Opportunities Workshop Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| FOR |
| OPPORTUNITIES WORKSHOP LIMITED |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| OPPORTUNITIES WORKSHOP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Kingfisher House |
| 11 Hoffmanns Way |
| Chelmsford |
| Essex |
| CM1 1GU |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| BALANCE SHEET |
| 30 APRIL 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand | 9 |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
11 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 15 | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 16 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| BALANCE SHEET - continued |
| 30 APRIL 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 1. | STATUTORY INFORMATION |
| Opportunities Workshop Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| Amounts in these financial statements are rounded to the nearest Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| At the balance sheet date the company had net current liabilities. The directors have considered the cash flow requirements of the company for at least the next twelve months and are satisfied that the company will continue to be able to meet it's liabilities as they fall due. Accordingly, these financial statements have been prepared on the going concern basis. |
| Summary of significant accounting policies |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met. |
| Turnover represents net invoiced service for education and training, excluding value added tax. Revenue is recognised on an accruals basis. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment loss. |
| Franchise licenses are being amortised evenly over their estimated useful life of 10 years. |
| Development costs are being amortised evenly over their estimated useful life of 3 years. |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed assets begins when it is in the location and condition necessary available for the use intended. |
| Tangible fixed asset depreciation is included in administrative expenses in the income statement. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company only enter into basic financial instruments transactions that results in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, other third party loans and loans with related parties. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Leasing commitments |
| Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to the income statement in the period to which they relate. |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Franchise | Development |
| licence | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2021 |
| and 30 April 2022 |
| AMORTISATION |
| At 1 May 2021 |
| Amortisation for year |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2021 |
| Additions |
| At 30 April 2022 |
| DEPRECIATION |
| At 1 May 2021 |
| Charge for year |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 7. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertaking |
| £ |
| COST |
| At 1 May 2021 |
| and 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: First Floor, 12 Northgate Street, Ipswich, Suffolk IP1 3DB |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by related parties | 58,209 | - |
| Other debtors |
| 9. | CASH AT BANK AND IN HAND |
| 2022 | 2021 |
| £ | £ |
| Bank savings account | 112 | 556 |
| Cash in hand |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts (see note 12) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans (see note 12) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due in more than 5 years by instalments |
1,026 |
5,002 |
| 12. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due in more than 5 years by instalments |
1,026 |
5,002 |
| 13. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 14. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank overdrafts |
| Bank loans | 21,611 | 27,178 |
| The bank loan is secured by way of a fixed and floating charge over the company and all of its present and future assets. The directors, C Hodson and D Morley have also provided personal guarantees to the bank in respect of the loan. |
| There is also a debenture in place with the bank which includes a fixed and floating charge over the company and all of its present and future assets in respect of the bank overdraft facility. |
| 15. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2021 |
| Credit to Income Statement during year | ( |
) |
| Balance at 30 April 2022 |
| 16. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 300 | 300 |
| 17. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. |
| 2022 | 2021 |
| £ | £ |
| Contributions payable by the company for the year | 2,049 | 1,299 |
| Contributions payable to the fund at the year end included in other creditors | 693 | 293 |
| OPPORTUNITIES WORKSHOP LIMITED (REGISTERED NUMBER: 08145150) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 18. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following loans to the company from the directors subsisted during the years ended 30 April 2022 and 30 April 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |