Oppidan (CL2) Limited Filleted accounts for Companies House (small and micro)

Oppidan (CL2) Limited Filleted accounts for Companies House (small and micro)

OPPIDAN (CL2) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10471885
Oppidan (CL2) Limited
Filleted Unaudited Financial Statements
31 March 2023
Oppidan (CL2) Limited
Financial Statements
Period from 1 December 2021 to 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Oppidan (CL2) Limited
Statement of Financial Position
31 March 2023
31 Mar 23
30 Nov 21
Note
£
£
£
£
Current assets
Stocks
8,045,609
5,737,353
Debtors
5
12,637
512
Cash at bank and in hand
12,108
139,513
------------
------------
8,070,354
5,877,378
Creditors: amounts falling due within one year
6
5,892,728
1,950,218
------------
------------
Net current assets
2,177,626
3,927,160
------------
------------
Total assets less current liabilities
2,177,626
3,927,160
Creditors: amounts falling due after more than one year
7
–
3,559,326
------------
------------
Net assets
2,177,626
367,834
------------
------------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
2,177,624
367,832
------------
---------
Shareholders funds
2,177,626
367,834
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oppidan (CL2) Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 4 September 2023 , and are signed on behalf of the board by:
S C Uloth
M J Fuller
Director
Director
Company registration number: 10471885
Oppidan (CL2) Limited
Notes to the Financial Statements
Period from 1 December 2021 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2021: 2).
5. Debtors
31 Mar 23
30 Nov 21
£
£
Other debtors
12,637
512
--------
----
6. Creditors: amounts falling due within one year
31 Mar 23
30 Nov 21
£
£
Bank loans and overdrafts
3,549,686
–
Trade creditors
2,910
–
Amounts owed to group undertakings
302,762
252,989
Accruals and deferred income
2,200
1,950
Corporation tax
426,172
86,281
Amounts owed by related undertakings
1,608,998
1,608,998
------------
------------
5,892,728
1,950,218
------------
------------
The bank loans and overdrafts are secured by charges over the property held within work in progress.
7. Creditors: amounts falling due after more than one year
31 Mar 23
30 Nov 21
£
£
Bank loans and overdrafts
–
3,559,326
----
------------
The bank loans and overdrafts are secured by charges over the property held within work in progress.
8. Called up share capital
Issued, called up and fully paid
31 Mar 23
30 Nov 21
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Related party transactions
The company is a wholly owned subsidiary of Oppidan Limited and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Oppidan Limited or other wholly owned subsidiaries within the group. At the year end the company owed £1,608,998 (2021: £1,608,998) to related undertakings, controlled by company directors. All loans from related undertakings are unsecured and repayable on demand.
10. Controlling party
The company is a wholly owned subsidiary of Oppidan Limited, a company incorporated in England and Wales. The registered office of Oppidan Limited is 146 New London Road, Chelmsford, Essex, CM2 0AW.