Registered number |
09350603 |
OAKLAND GOLF AND LEISURE (UK) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD FROM 1 JANUARY 2022 TO 30 DECEMBER 2022 |
PAGES FOR FILING WITH REGISTRAR |
OAKLAND GOLF AND LEISURE (UK) LIMITED | |||
CONTENTS | |||
Page | |||
Balance sheet | 1 | ||
Notes to the financial statements | 2 - 6 | ||
Balance Sheet | |||||||
as at |
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Company Registration No. | 09350603 | ||||||
Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
………………………………….. | |||||||
Jonathan Russell Snellgrove | |||||||
Director | |||||||
Approved by the board on |
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NOTES TO THE FINANCIAL STATEMENTS | ||||||||
FOR THE PERIOD FROM 1 JANUARY 2022 TO 30 DECEMBER 2022 | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below. |
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Going concern | ||||||||
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company's director who is also a shareholder. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholder and director has expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis. |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
Plant and machinery | 20% straight line | |||||||
Motor vehicle | 25% reducing balance | |||||||
Financial instruments | ||||||||
Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. 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 of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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. |
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Basic financial assets | ||||||||
Derecognition of financial assets | ||||||||
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. | ||||||||
Basic financial liabilities | ||||||||
Derecognition of financial liabilities | ||||||||
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. | ||||||||
Cash and cash equivalents | ||||||||
Taxation | ||||||||
Current tax | ||||||||
Deferred tax | ||||||||
The carrying amount of deferred tax assets is reviewed at each reporting end date. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities relate to taxes levied by the same tax authority. |
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Foreign currency translation | ||||||||
2 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Land and buildings | Fixtures, fittings and equipment | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 January 2022 | ||||||||
Additions | - | - | ||||||
At 30 December 2022 | ||||||||
Depreciation | ||||||||
At 1 January 2022 | - | |||||||
Charge for the period | - | |||||||
At 30 December 2022 | - | |||||||
Net book value | ||||||||
At 30 December 2022 | ||||||||
At 31 December 2021 | - | |||||||
4 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Directors' current account | 35,591 | - | ||||||
Other debtors | ||||||||
The Directors' current account represents amounts due from directors of the company. The maximum amount outstanding during the year was £35,591 (2021 - Nil), and this amount was repaid within 9 months after the year end. | ||||||||
5 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Corporation tax | ||||||||
Directors' current account | - | 119 | ||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
6 | Other information | |||||||
Oakland Golf And Leisure (UK) Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: 37 Warren Street, London, W1T 6AD. |