13 false false false false false false false false false false true false false true true true true true true true true No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 100,000 84,259 8,334 92,593 7,407 15,741 xbrli:pure xbrli:shares iso4217:GBP 07756630 2022-06-01 2023-05-31 07756630 2023-05-31 07756630 2022-05-31 07756630 2021-06-01 2022-05-31 07756630 2022-05-31 07756630 2021-05-31 07756630 bus:Director1 2022-06-01 2023-05-31 07756630 core:NetGoodwill 2022-05-31 07756630 core:NetGoodwill 2023-05-31 07756630 core:LandBuildings core:LongLeaseholdAssets 2022-05-31 07756630 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 07756630 core:LandBuildings core:LongLeaseholdAssets 2022-06-01 2023-05-31 07756630 core:WithinOneYear 2023-05-31 07756630 core:WithinOneYear 2022-05-31 07756630 core:ShareCapital 2023-05-31 07756630 core:ShareCapital 2022-05-31 07756630 core:RetainedEarningsAccumulatedLosses 2023-05-31 07756630 core:RetainedEarningsAccumulatedLosses 2022-05-31 07756630 core:NetGoodwill 2022-06-01 2023-05-31 07756630 core:NetGoodwill 2022-05-31 07756630 core:LandBuildings core:LongLeaseholdAssets 2022-05-31 07756630 bus:SmallEntities 2022-06-01 2023-05-31 07756630 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07756630 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07756630 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07756630 bus:FullAccounts 2022-06-01 2023-05-31 07756630 core:OfficeEquipment 2022-06-01 2023-05-31 07756630 core:OfficeEquipment 2022-05-31 07756630 core:OfficeEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: 07756630
OG6 LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2023
OG6 LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
OG6 LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
7,407
15,741
Tangible assets
6
35,501
43,830
--------
--------
42,908
59,571
CURRENT ASSETS
Stocks
19,902
13,705
Debtors
7
419,259
386,784
Cash at bank and in hand
33,150
36,599
---------
---------
472,311
437,088
CREDITORS: amounts falling due within one year
8
( 107,504)
( 147,395)
---------
---------
NET CURRENT ASSETS
364,807
289,693
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
407,715
349,264
---------
---------
NET ASSETS
407,715
349,264
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
407,615
349,164
---------
---------
SHAREHOLDERS FUNDS
407,715
349,264
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OG6 LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 22 March 2024 , and are signed on behalf of the board by:
Mr R W A Manners
Director
Company registration number: 07756630
OG6 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
12 years straight line method
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
12 years straight line method
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
100,000
---------
Amortisation
At 1 June 2022
84,259
Charge for the year
8,334
---------
At 31 May 2023
92,593
---------
Carrying amount
At 31 May 2023
7,407
---------
At 31 May 2022
15,741
---------
6. Tangible assets
Long leasehold property
Equipment
Total
£
£
£
Cost
At 1 June 2022
75,050
74,142
149,192
Additions
5,411
5,411
--------
--------
---------
At 31 May 2023
75,050
79,553
154,603
--------
--------
---------
Depreciation
At 1 June 2022
63,237
42,125
105,362
Charge for the year
6,254
7,486
13,740
--------
--------
---------
At 31 May 2023
69,491
49,611
119,102
--------
--------
---------
Carrying amount
At 31 May 2023
5,559
29,942
35,501
--------
--------
---------
At 31 May 2022
11,813
32,017
43,830
--------
--------
---------
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
394,602
361,194
Other debtors
24,657
25,590
---------
---------
419,259
386,784
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
44,947
39,514
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,618
Corporation tax
16,257
36,335
Social security and other taxes
29,732
28,732
Other creditors
13,950
42,814
---------
---------
107,504
147,395
---------
---------
9. Related party transactions
The company was under the control of Messrs R W A Manners and G G Manners throughout the current period. Messrs Manners and Manners are joint managing directors of the company and together with other family members are the shareholders of Orange Giraffe Holdings Limited, which in turn is the sole shareholder of OG6 Limited. As at the balance sheet date, the company was owed £0 (2022: £0) by Orange Giraffe Holdings Limited. The following amounts were due from fellow subsidiaries of Orange Giraffe Holdings Limited: An amount of £235,000 (2022: £185,000) from Yellow Bear Pub Co Limited, £0 (2022: £26,194) from The Orange Giraffe Pub Company Limited, and £159,602 (2022: £150,000) from Purple Tiger Pub Company Limited . The following amounts were owed to fellow subsidiaries of Orange Giraffe Holdings Limited: An amount of £2,618 (2022: £0) to The Orange Giraffe Pub Company Limited. All amounts are interest free and repayable on demand.
10. Controlling party
The company is a fully owned subsidiary of Orange Giraffe Holdings Limited. The directors, together with other family members, hold 100% of the issued share capital of the parent company.