Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31falsetrue2021-01-01No description of principal activity99trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05196802 2021-01-01 2021-12-31 05196802 2020-01-01 2020-12-31 05196802 2021-12-31 05196802 2020-12-31 05196802 c:Director1 2021-01-01 2021-12-31 05196802 d:Buildings 2021-01-01 2021-12-31 05196802 d:Buildings 2021-12-31 05196802 d:Buildings 2020-12-31 05196802 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2021-01-01 2021-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2021-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2020-12-31 05196802 d:PlantMachinery 2021-01-01 2021-12-31 05196802 d:PlantMachinery 2021-12-31 05196802 d:PlantMachinery 2020-12-31 05196802 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:MotorVehicles 2021-01-01 2021-12-31 05196802 d:FurnitureFittings 2021-01-01 2021-12-31 05196802 d:FurnitureFittings 2021-12-31 05196802 d:FurnitureFittings 2020-12-31 05196802 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:OfficeEquipment 2021-01-01 2021-12-31 05196802 d:OfficeEquipment 2021-12-31 05196802 d:OfficeEquipment 2020-12-31 05196802 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:ComputerEquipment 2021-01-01 2021-12-31 05196802 d:ComputerEquipment 2021-12-31 05196802 d:ComputerEquipment 2020-12-31 05196802 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 05196802 d:OtherPropertyPlantEquipment 2021-12-31 05196802 d:OtherPropertyPlantEquipment 2020-12-31 05196802 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05196802 d:Goodwill 2021-01-01 2021-12-31 05196802 d:Goodwill 2021-12-31 05196802 d:Goodwill 2020-12-31 05196802 d:CurrentFinancialInstruments 2021-12-31 05196802 d:CurrentFinancialInstruments 2020-12-31 05196802 d:Non-currentFinancialInstruments 2021-12-31 05196802 d:Non-currentFinancialInstruments 2020-12-31 05196802 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05196802 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05196802 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 05196802 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 05196802 d:ShareCapital 2021-12-31 05196802 d:ShareCapital 2020-12-31 05196802 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 05196802 d:RetainedEarningsAccumulatedLosses 2021-12-31 05196802 d:RetainedEarningsAccumulatedLosses 2020-12-31 05196802 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 05196802 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 05196802 c:OrdinaryShareClass1 2021-01-01 2021-12-31 05196802 c:OrdinaryShareClass1 2021-12-31 05196802 c:OrdinaryShareClass1 2020-12-31 05196802 c:FRS102 2021-01-01 2021-12-31 05196802 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 05196802 c:FullAccounts 2021-01-01 2021-12-31 05196802 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05196802 d:Goodwill d:OwnedIntangibleAssets 2021-01-01 2021-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05196802










MID WALES SHOOTING CENTRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
MID WALES SHOOTING CENTRE LIMITED
REGISTERED NUMBER:05196802

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 5 
45,000
60,000

Tangible assets
 6 
917,329
1,000,597

  
962,329
1,060,597

Current assets
  

Stocks
 7 
10,000
75,246

Debtors: amounts falling due within one year
 8 
303,713
754,135

Cash at bank and in hand
 9 
18,867
5,904

  
332,580
835,285

Creditors: amounts falling due within one year
 10 
(165,380)
(591,616)

Net current assets
  
 
 
167,200
 
 
243,669

Total assets less current liabilities
  
1,129,529
1,304,266

Creditors: amounts falling due after more than one year
 11 
(131,288)
(213,809)

Provisions for liabilities
  

Deferred tax
 13 
(13,137)
(18,039)

  
 
 
(13,137)
 
 
(18,039)

Net assets
  
985,104
1,072,418


Capital and reserves
  

Called up share capital 
 14 
99
99

Profit and loss account
  
985,005
1,072,319

  
985,104
1,072,418


img2338.png Page 1

 
MID WALES SHOOTING CENTRE LIMITED
REGISTERED NUMBER:05196802
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

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 2 September 2022.




J E Williams
Director

The notes on pages 3 to 15 form part of these financial statements.

img5175.png Page 2

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Mid Wales Shooting Centre Limited, 05196802, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Ffinnant, Trefeglwys, Caersws, Powys, SY17 5QY.
The principal activity of the Company continues to be leisure related activities.

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.

img2505.png Page 3

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

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.

img0aed.png Page 4

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line on buildings
Long-term leasehold property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
straight line
Site improvements
-
2%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

img051f.png Page 5

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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.

img69bd.png Page 6

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

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, including 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 estimated will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 9 (2020 - 9).


5.


Intangible assets




Goodwill

£



Cost


At 1 January 2021
195,000


Disposals
(45,000)



At 31 December 2021

150,000



Amortisation


At 1 January 2021
135,000


Charge for the year on owned assets
15,000


On disposals
(45,000)



At 31 December 2021

105,000



Net book value



At 31 December 2021
45,000



At 31 December 2020
60,000



img7d74.png Page 7

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Tangible fixed assets





Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 January 2021
717,030
290,798
161,302
22,081
12,318


Disposals
-
(48,730)
(43,261)
(18,969)
(12,318)



At 31 December 2021

717,030
242,068
118,041
3,112
-



Depreciation


At 1 January 2021
47,443
39,827
111,862
14,494
7,261


Charge for the year on owned assets
8,241
4,841
9,015
181
-


Disposals
-
(14,447)
(29,378)
(12,112)
(7,261)



At 31 December 2021

55,684
30,221
91,499
2,563
-



Net book value



At 31 December 2021
661,346
211,847
26,542
549
-



At 31 December 2020
669,587
250,971
49,440
7,587
5,057
img0c0d.png Page 8

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

           6.Tangible fixed assets (continued)


Computer equipment
Site improvements
Total

£
£
£



Cost or valuation


At 1 January 2021
11,323
18,134
1,232,986


Disposals
(2,190)
-
(125,468)



At 31 December 2021

9,133
18,134
1,107,518



Depreciation


At 1 January 2021
10,777
726
232,390


Charge for the year on owned assets
-
363
22,641


Disposals
(1,644)
-
(64,842)



At 31 December 2021

9,133
1,089
190,189



Net book value



At 31 December 2021
-
17,045
917,329



At 31 December 2020
547
17,408
1,000,597


7.


Stocks

2021
2020
£
£

Finished goods and goods for resale
10,000
75,246

10,000
75,246


img17b8.png Page 9

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Debtors

2021
2020
£
£


Trade debtors
38,861
22,864

Amounts owed by group undertakings
258,119
-

Other debtors
6,733
727,407

Prepayments and accrued income
-
3,864

303,713
754,135



9.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
18,867
5,904

Less: bank overdrafts
-
(319,440)

18,867
(313,536)


img5040.png Page 10

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
-
319,440

Bank loans
82,598
81,446

Payments received on account
8,250
-

Trade creditors
6,779
35,172

Other taxation and social security
(197)
21,588

Other creditors
63,788
127,080

Accruals and deferred income
4,162
6,890

165,380
591,616


The following liabilities were secured:

2021
2020
£
£



Bank loans
82,598
81,446

Bank overdrafts
-
319,440

82,598
400,886

Details of security provided:

The bank loans and overdraft are secured upon the assets of the Company. 

img4e3d.png Page 11

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
127,324
209,680

Accruals and deferred income
3,964
4,129

131,288
213,809


The following liabilities were secured:

2021
2020
£
£



Bank loans
127,324
209,680

127,324
209,680

Details of security provided:

The bank loans are secured upon the assets of the Company. 

img6ef6.png Page 12

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

12.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
82,598
81,446


82,598
81,446

Amounts falling due 1-2 years

Bank loans
68,877
82,901


68,877
82,901

Amounts falling due 2-5 years

Bank loans
58,447
126,780


58,447
126,780


209,922
291,127


img486d.png Page 13

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

13.


Deferred taxation




2021


£






At beginning of year
18,039


Charged to profit or loss
(4,902)



At end of year
13,137

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
13,137
18,039

13,137
18,039


14.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



99 (2020 - 99) Ordinary shares of £1.00 each
99
99



15.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,235 (2020: £1,232). Contributions totaling £Nil (2020: £Nil) were payable to the fund at the balance sheet date and are included in creditors.

img2611.png Page 14

 
MID WALES SHOOTING CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

17.


Related party transactions

During the year an amount included within other debtors in the sum of £258,119 was borrowed by Meadow Springs Limited, which is under similar control to the Company. This loan is repayable on demand with no interest charged to date. No repayments have been received during the year. 


18.


Controlling party

During the year, a share for share exchange took place with The Oaks Leisure Group Limited.
The ultimate holding company is The Oaks Leisure Group Limited, which own 100% of the issued share capital, and is a UK registered company. The registered office address is the same as this Company. 

 
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