OLG Holdings Ltd - Accounts to registrar (filleted) - small 23.2.5
OLG Holdings Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2022 |
| for |
| OLG Holdings Ltd |
| OLG Holdings Ltd (Registered number: 12017140) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| OLG Holdings Ltd |
| Company Information |
| for the Year Ended 31 December 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 20 Anchor Terrace |
| 3-13 Southwark Bridge Road |
| London |
| SE1 9HQ |
| OLG Holdings Ltd (Registered number: 12017140) |
| Balance Sheet |
| 31 December 2022 |
| 31.12.22 | 31.12.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges her 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| OLG Holdings Ltd (Registered number: 12017140) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| OLG Holdings Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about OLG Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investments in subsidiaries and associates |
| Investments in subsidiary and associate undertakings are recognised at cost. |
| 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. |
| Other investments |
| Unlisted investments comprises artwork that is considered to be first class artwork that will appreciate in value. Therefore these are not depreciated or shown as fixed assets but investments. |
| Listed investments are revalued annually by the portfolio managers. |
| OLG Holdings Ltd (Registered number: 12017140) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in | Other |
| undertakings | associate | investments | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2022 | 111,769 |
| Additions | 683,610 |
| Disposals | ( |
) | (1,032 | ) |
| Revaluations | ( |
) | (15,354 | ) |
| At 31 December 2022 | 778,993 |
| NET BOOK VALUE |
| At 31 December 2022 | 778,993 |
| At 31 December 2021 | 111,769 |
| Cost or valuation at 31 December 2022 is represented by: |
| Shares in | Interest |
| group | in | Other |
| undertakings | associate | investments | Totals |
| £ | £ | £ | £ |
| Valuation in 2020 | - | - | 10,470 | 10,470 |
| Valuation in 2021 | - | - | 8,751 | 8,751 |
| Valuation in 2022 | - | - | (15,354 | ) | (15,354 | ) |
| Cost | 1,642 | 33,706 | 739,778 | 775,126 |
| 1,642 | 33,706 | 743,645 | 778,993 |
| If other investments had not been revalued they would have been included at the following historical cost: |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Cost | 758,999 | 57,301 |
| Other investments were valued on an open market value basis on 31 December 2022 by the portfolio manager. . |
| The following companies are included in fixed asset investments: |
| TPF Mallorca SL, incorporated in Spain, registered office s’Escola Graduada, número 42, 07350, Binissalem. |
| The Production Factory Manchester Ltd, incorporated in England and Wales, registered office Unit 2 Dark Lane, Manchester, United Kingdom, M12 6FA. |
| TPF Miami Inc, incorporated in USA, registered office 1370 Washington Ave 211, Miami Beach FL33139. |
| The Production Factory NY LLC incorporated in USA, registered office 195 Broadway 419, Brooklyn NY11211 |
| OLG Property Ltd, incorporated in England and Wales, registered office Zeppelin Building, 3rd Floor, 59-61 Farringdon Road, EC1M 3JB |
| OLG Holdings Ltd (Registered number: 12017140) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |