ACCOUNTS - Final Accounts

THE OAKS LEISURE GROUP LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31Holding companytruetrue2022-01-012false2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12648474 2022-01-01 2022-12-31 12648474 2021-01-01 2021-12-31 12648474 2022-12-31 12648474 2021-12-31 12648474 c:Director2 2022-01-01 2022-12-31 12648474 d:CurrentFinancialInstruments 2022-12-31 12648474 d:CurrentFinancialInstruments 2021-12-31 12648474 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12648474 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12648474 d:ShareCapital 2022-12-31 12648474 d:ShareCapital 2021-12-31 12648474 d:RetainedEarningsAccumulatedLosses 2022-12-31 12648474 d:RetainedEarningsAccumulatedLosses 2021-12-31 12648474 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 12648474 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 12648474 c:OrdinaryShareClass1 2022-01-01 2022-12-31 12648474 c:OrdinaryShareClass1 2022-12-31 12648474 c:OrdinaryShareClass1 2021-12-31 12648474 c:FRS102 2022-01-01 2022-12-31 12648474 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12648474 c:FullAccounts 2022-01-01 2022-12-31 12648474 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12648474 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12648474

THE OAKS LEISURE GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022


THE OAKS LEISURE GROUP LIMITED REGISTERED NUMBER:12648474

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Investments	5		299		299
			299		299
Current assets
Debtors: amounts falling due within one year	6	1,172		306
		1,172		306
Creditors: amounts falling due within one year	7	(970)		(2,316)
Net current assets/(liabilities)			202		(2,010)
Total assets less current liabilities			501		(1,711)

Net assets/(liabilities)			501		(1,711)

Capital and reserves
Called up share capital	9	198	198
Profit and loss account		303	(1,909)
		501	(1,711)

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THE OAKS LEISURE GROUP LIMITED REGISTERED NUMBER:12648474

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 statement of comprehensive income 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 on 21 July 2023.

J E Williams

Director

The notes on pages 3 to 7 form part of these financial statements.

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THE OAKS LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

The Oaks Leisure Group Limited, 12648474, is a private company limited by shares, incorporated in England and Wales. The address of its registered office and principal place of business is Ffinnant, Trefeglwys, Caersws, Powys, SY17 5QY.
The Company's principal activity is a holding company.

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 Section 1A of 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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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THE OAKS LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

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 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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THE OAKS LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.8

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.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, include expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimated nor assumptions that have a significant risk of causing a material adjustment to the harrying amounts of assets and liabilities within the next financial year.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2022	299
	At 31 December 2022	299

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THE OAKS LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	1,172	-
Deferred taxation	-	306
	1,172	306

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	-	594
Amounts owed to group undertakings	-	1,103
Corporation tax	303	-
Other creditors	1	1
Accruals and deferred income	666	618
	970	2,316

8.	Deferred taxation

		2022
		£

	At beginning of year	306
	Charged to profit or loss	(306)
	At end of year	-

The deferred tax asset is made up as follows:
	2022	2021
	£	£

	Tax losses carried forward	-	306
		-	306

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THE OAKS LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

9.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

198 (2021 - 198) Ordinary shares of £1.00 each	198	198

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