Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activityfalse2022-04-0155truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08310841 2022-04-01 2023-03-31 08310841 2021-04-01 2022-03-31 08310841 2023-03-31 08310841 2022-03-31 08310841 c:Director1 2022-04-01 2023-03-31 08310841 d:PlantMachinery 2022-04-01 2023-03-31 08310841 d:PlantMachinery 2023-03-31 08310841 d:PlantMachinery 2022-03-31 08310841 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08310841 d:OfficeEquipment 2022-04-01 2023-03-31 08310841 d:OfficeEquipment 2023-03-31 08310841 d:OfficeEquipment 2022-03-31 08310841 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08310841 d:ComputerEquipment 2022-04-01 2023-03-31 08310841 d:ComputerEquipment 2023-03-31 08310841 d:ComputerEquipment 2022-03-31 08310841 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08310841 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08310841 d:Goodwill 2022-04-01 2023-03-31 08310841 d:Goodwill 2023-03-31 08310841 d:Goodwill 2022-03-31 08310841 d:CurrentFinancialInstruments 2023-03-31 08310841 d:CurrentFinancialInstruments 2022-03-31 08310841 d:Non-currentFinancialInstruments 2023-03-31 08310841 d:Non-currentFinancialInstruments 2022-03-31 08310841 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08310841 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08310841 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08310841 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08310841 d:ShareCapital 2023-03-31 08310841 d:ShareCapital 2022-03-31 08310841 d:RetainedEarningsAccumulatedLosses 2023-03-31 08310841 d:RetainedEarningsAccumulatedLosses 2022-03-31 08310841 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08310841 c:OrdinaryShareClass1 2023-03-31 08310841 c:OrdinaryShareClass1 2022-03-31 08310841 c:FRS102 2022-04-01 2023-03-31 08310841 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08310841 c:FullAccounts 2022-04-01 2023-03-31 08310841 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08310841 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08310841










OSWESTRY LIVESTOCK AUCTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
REGISTERED NUMBER:08310841

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
305,867
382,335

Tangible assets
 5 
15,533
17,791

  
321,400
400,126

Current assets
  

Debtors: amounts falling due after more than one year
 6 
745,350
887,723

Debtors: amounts falling due within one year
 6 
1,508,996
1,265,686

Cash at bank and in hand
 7 
6,418
10,841

  
2,260,764
2,164,250

Creditors: amounts falling due within one year
 8 
(1,476,590)
(1,378,250)

Net current assets
  
 
 
784,174
 
 
786,000

Total assets less current liabilities
  
1,105,574
1,186,126

Creditors: amounts falling due after more than one year
 9 
(1,055,310)
(1,042,728)

  

Net assets
  
50,264
143,398


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
50,164
143,298

  
50,264
143,398


Page 1

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
REGISTERED NUMBER:08310841
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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 by: 




Mr T E Bowen
Director

Date: 23 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Oswestry Livestock Auctions Limited, 08310841, is a private limited company, limited by shares,
incorporated in England and Wales, with its registered office and principal place of business at New
Smithfield, Shrewsbury Road, Oswestry, Shropshire, SY11 4QA.

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.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Taxation

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.

 
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 Profit and loss account 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.

Page 4

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Office equipment
-
30%
Computer equipment
-
33%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

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 the Profit and loss account.

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
Page 5

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

contract.

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

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 6

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
764,675



At 31 March 2023

764,675



Amortisation


At 1 April 2022
382,340


Charge for the year on owned assets
76,468



At 31 March 2023

458,808



Net book value



At 31 March 2023
305,867



At 31 March 2022
382,335



Page 7

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
26,178
437
25,508
52,123


Additions
-
-
919
919



At 31 March 2023

26,178
437
26,427
53,042



Depreciation


At 1 April 2022
13,063
437
20,832
34,332


Charge for the year on owned assets
1,312
-
1,865
3,177



At 31 March 2023

14,375
437
22,697
37,509



Net book value



At 31 March 2023
11,803
-
3,730
15,533



At 31 March 2022
13,115
-
4,676
17,791

Page 8

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
745,350
887,723

745,350
887,723


2023
2022
£
£

Due within one year

Trade debtors
1,395,643
1,163,486

Amounts owed by group undertakings
95,463
95,463

Other debtors
4,640
(5,231)

Prepayments and accrued income
13,250
11,968

1,508,996
1,265,686



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,419
10,841

Less: bank overdrafts
(1,193,777)
(903,710)

(1,187,358)
(892,869)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,193,777
903,710

Trade creditors
(728)
4,258

Other taxation and social security
51,923
76,257

Other creditors
179,970
356,762

Accruals and deferred income
51,648
37,263

1,476,590
1,378,250


Page 9

 
OSWESTRY LIVESTOCK AUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
1,055,310
1,042,728

1,055,310
1,042,728



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


 
Page 10