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Registered number: 08603448










OOMPH WELLNESS TRAINING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JANUARY 2023

 
OOMPH WELLNESS TRAINING LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
OOMPH WELLNESS TRAINING LIMITED
REGISTERED NUMBER: 08603448

BALANCE SHEET
AS AT 30 JANUARY 2023

30 January
31 March
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
247,548
48,649

Tangible assets
 5 
9,109
11,915

  
256,657
60,564

Current assets
  

Stocks
  
1,000
1,000

Debtors
 6 
1,135,390
1,215,131

Cash at bank and in hand
 7 
183,803
30,076

  
1,320,193
1,246,207

Creditors: amounts falling due within one year
 8 
(2,264,376)
(2,193,711)

Net current liabilities
  
 
 
(944,183)
 
 
(947,504)

Total assets less current liabilities
  
(687,526)
(886,940)

Creditors: amounts falling due after more than one year
 9,10 
(43,193)
(46,824)

  

Net liabilities
  
(730,719)
(933,764)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(730,819)
(933,864)

  
(730,719)
(933,764)


Page 1

 
OOMPH WELLNESS TRAINING LIMITED
REGISTERED NUMBER: 08603448
    
BALANCE SHEET (CONTINUED)
AS AT 30 JANUARY 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 period 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 by: 




J. Papworth
Director

Date: 30 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

1.


General information

Oomph Wellness Training Limited is a private company, limited by shares, registered in England and Wales under the Companies Act 2006. The registered office of the company is 1 Bell Court, Leapale Lane, Guildford, GU1 4LY.
The principal activity of the entity is the provision of health and wellbeing training.

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:

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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.

Page 4

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
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.

 
2.12

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 weighted average 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.

 
2.13

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.

 
2.14

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.

Page 5

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

2.Accounting policies (continued)

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 22 (2022:16).


4.


Intangible assets






Rebranding
Computer software
Total

£
£
£



Cost


At 1 April 2022
-
69,516
69,516


Additions
47,459
208,876
256,335


Disposals
-
(2,857)
(2,857)



At 30 January 2023

47,459
275,535
322,994



Amortisation


At 1 April 2022
-
20,867
20,867


Charge for the period on owned assets
5,137
49,521
54,658


On disposals
-
(79)
(79)



At 30 January 2023

5,137
70,309
75,446



Net book value



At 30 January 2023
42,322
205,226
247,548



At 31 March 2022
-
48,649
48,649



Page 6

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

5.


Tangible fixed assets







Computer equipment

£



Cost 


At 1 April 2022
20,135


Additions
2,582



At 30 January 2023

22,717



Depreciation


At 1 April 2022
8,220


Charge for the period on owned assets
5,388



At 30 January 2023

13,608



Net book value



At 30 January 2023
9,109



At 31 March 2022
11,915


6.


Debtors

30 January
31 March
2023
2022
£
£



Trade debtors
151,622
97,419

Amounts owed by group undertakings
926,453
1,098,654

Other debtors
26,332
-

Prepayments and accrued income
30,983
19,058

1,135,390
1,215,131


Page 7

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

7.


Cash and cash equivalents

30 January
31 March
2023
2022
£
£

Cash at bank and in hand
183,803
30,076

183,803
30,076



8.


Creditors: Amounts falling due within one year

30 January
31 March
2023
2022
£
£

Trade creditors
77,474
59,005

Amounts owed to group undertakings
1,818,223
1,727,956

Corporation tax
45,943
114,026

Other taxation and social security
38,734
41,650

Other creditors
-
17,342

Accruals and deferred income
284,002
233,732

2,264,376
2,193,711



9.


Creditors: Amounts falling due after more than one year

30 January
31 March
2023
2022
£
£

Other loans
43,193
46,824

43,193
46,824


Page 8

 
OOMPH WELLNESS TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


30 January
31 March
2023
2022
£
£


Amounts falling due 1-2 years

Other loans
43,193
46,824

43,193
46,824



11.


Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 Section 1A not to disclose transactions entered into between two or more members of a group that are wholly owned.


12.


Controlling party

The immediate parent company is Oomph Wellness Limited, with registered address1 Bell Court, Leapale
Lane, Guildford, England, GU1 4LY.
On 31 January 2023, 100% of the share capital in Oomph Wellness Limited was acquired by Panecea
Group Limited. Following the period end, the ultimate parent company is Project Polar Topco Limited, with
registered address 1 Bell Court, Leapale Lane, Guildford, England, GU1 4LY.

 
Page 9