Oasis Products Vending Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01323644 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Oasis Products Vending Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R Rose

Mrs S A Rose

Miss C A Rose

C E R Rose

SECRETARY:

Mrs S A Rose

REGISTERED OFFICE:

Unit 7 Trade City

Brooklands Close

Sunbury on Thames

Surrey

TW16 7FD

REGISTERED NUMBER:

01323644 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

55,722

3,590

Investment property

6

825,000

750,000

880,722

753,590

CURRENT ASSETS

Stocks

22,965

23,432

Debtors

7

490,343

258,550

Cash at bank

848,264

627,566

1,361,572

909,548

CREDITORS

Amounts falling due within one year

8

473,038

399,340

NET CURRENT ASSETS

888,534

510,208

TOTAL ASSETS LESS CURRENT LIABILITIES

1,769,256

1,263,798

PROVISIONS FOR LIABILITIES

62,245

38,090

NET ASSETS

1,707,011

1,225,708

CAPITAL AND RESERVES

Called up share capital

1,500

1,200

Revaluation reserve

9

290,827

215,827

Capital redemption reserve

1,800

1,800

Retained earnings

1,412,884

1,006,881

1,707,011

1,225,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 18 September 2023 and were signed on its behalf by:

Miss C A Rose - Director

1.	STATUTORY INFORMATION

Oasis Products Vending Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable of the company activities vending machine product supplies and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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 profit or loss in the period to which they relate.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2022

and 31 December 2022

7,393

AMORTISATION

At 1 January 2022

and 31 December 2022

7,393

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

28,175

Additions

61,188

At 31 December 2022

89,363

DEPRECIATION

At 1 January 2022

24,585

Charge for year

9,056

At 31 December 2022

33,641

NET BOOK VALUE

At 31 December 2022

55,722

At 31 December 2021

3,590

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

750,000

Revaluations

75,000

At 31 December 2022

825,000

NET BOOK VALUE

At 31 December 2022

825,000

At 31 December 2021

750,000

Fair value at 31 December 2022 is represented by:

£

Valuation in 2020

110,000

Valuation in 2021

50,000

Valuation in 2022

75,000

Cost

590,000

825,000

The Investment property was valued on an open market basis on 31 December 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

461,732

218,154

Other debtors

28,611

40,396

490,343

258,550

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

41,361

36,927

Taxation and social security

195,218

115,039

Other creditors

236,459

247,374

473,038

399,340

9.

RESERVES

Revaluation

reserve

£

At 1 January 2022

215,827

Revaluation

75,000

At 31 December 2022

290,827

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22

31.12.21

£

£

G R Rose

Balance outstanding at start of year

9,660

-

Amounts advanced

39,025

21,350

Amounts repaid

(38,811

)

(11,690

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,874

9,660

Mrs S A Rose

Balance outstanding at start of year

29,660

-

Amounts advanced

27,963

41,350

Amounts repaid

(39,760

)

(11,690

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,863

29,660

The loans to the directors are interest free and with no fixed date for repayment.