Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30trueNo description of principal activity2022-07-01false2222trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13041436 2022-07-01 2023-06-30 13041436 2021-07-01 2022-06-30 13041436 2023-06-30 13041436 2022-06-30 13041436 c:Director1 2022-07-01 2023-06-30 13041436 d:Buildings 2022-07-01 2023-06-30 13041436 d:Buildings 2023-06-30 13041436 d:Buildings 2022-06-30 13041436 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13041436 d:Buildings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 13041436 d:PlantMachinery 2022-07-01 2023-06-30 13041436 d:PlantMachinery 2023-06-30 13041436 d:PlantMachinery 2022-06-30 13041436 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13041436 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 13041436 d:MotorVehicles 2022-07-01 2023-06-30 13041436 d:MotorVehicles 2023-06-30 13041436 d:MotorVehicles 2022-06-30 13041436 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13041436 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 13041436 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13041436 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 13041436 d:NegativeGoodwill 2023-06-30 13041436 d:NegativeGoodwill 2022-06-30 13041436 d:CurrentFinancialInstruments 2023-06-30 13041436 d:CurrentFinancialInstruments 2022-06-30 13041436 d:Non-currentFinancialInstruments 2023-06-30 13041436 d:Non-currentFinancialInstruments 2022-06-30 13041436 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13041436 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 13041436 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 13041436 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 13041436 d:ShareCapital 2023-06-30 13041436 d:ShareCapital 2022-06-30 13041436 d:RetainedEarningsAccumulatedLosses 2023-06-30 13041436 d:RetainedEarningsAccumulatedLosses 2022-06-30 13041436 c:OrdinaryShareClass1 2022-07-01 2023-06-30 13041436 c:OrdinaryShareClass1 2023-06-30 13041436 c:OrdinaryShareClass1 2022-06-30 13041436 c:OrdinaryShareClass2 2022-07-01 2023-06-30 13041436 c:OrdinaryShareClass2 2023-06-30 13041436 c:OrdinaryShareClass2 2022-06-30 13041436 c:FRS102 2022-07-01 2023-06-30 13041436 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 13041436 c:FullAccounts 2022-07-01 2023-06-30 13041436 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 13041436 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 13041436 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 13041436 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 13041436 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 13041436 d:NegativeGoodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13041436










OAKLEYS GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
OAKLEYS GROUP LIMITED
REGISTERED NUMBER: 13041436

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
(91,900)

Tangible assets
 5 
111,340
158,332

  
111,340
66,432

Current assets
  

Stocks
  
1,394,620
1,114,226

Debtors: amounts falling due within one year
 6 
243,310
337,500

Cash at bank and in hand
  
104,314
35,024

  
1,742,244
1,486,750

Creditors: amounts falling due within one year
 7 
(1,744,820)
(1,238,607)

Net current (liabilities)/assets
  
 
 
(2,576)
 
 
248,143

Total assets less current liabilities
  
108,764
314,575

Creditors: amounts falling due after more than one year
 8 
(65,725)
(39,286)

Provisions for liabilities
  

Deferred tax
  
(3,808)
(6,093)

  
 
 
(3,808)
 
 
(6,093)

Net assets
  
39,231
269,196


Capital and reserves
  

Called up share capital 
 10 
300,000
300,000

Profit and loss account
  
(260,769)
(30,804)

  
39,231
269,196


Page 1

 
OAKLEYS GROUP LIMITED
REGISTERED NUMBER: 13041436
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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: 




RJB Bland
Director

Date: 1 July 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Oakleys Group Limited, registered number 13041436, is a private company, limited by shares,incorporated in England and Wales, with its registered office at Unit1, Leasowes Business Park, Cound,Shrewsbury, SY5 6AF.

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.

Page 3

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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.

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 4

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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:

Freehold property
-
33%
Plant and machinery
-
33%
Motor vehicles
-
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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 6

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 22).

Page 7

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Negative goodwill

£





At 1 July 2022
(91,900)



At 30 June 2023

(91,900)





Charge for the year on owned assets
(91,900)



At 30 June 2023

(91,900)



Net book value



At 30 June 2023
-



At 30 June 2022
(91,900)



Page 8

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 July 2022
10,000
53,952
185,325
249,277


Additions
-
6,038
45,853
51,891


Disposals
-
-
(47,030)
(47,030)



At 30 June 2023

10,000
59,990
184,148
254,138



Depreciation


At 1 July 2022
5,275
20,278
65,392
90,945


Charge for the year on owned assets
3,335
18,964
18,793
41,092


Charge for the year on financed assets
-
-
41,710
41,710


Disposals
-
-
(30,949)
(30,949)



At 30 June 2023

8,610
39,242
94,946
142,798



Net book value



At 30 June 2023
1,390
20,748
89,202
111,340



At 30 June 2022
4,725
33,674
119,933
158,332


6.


Debtors

2023
2022
£
£


Trade debtors
170,988
284,443

Other debtors
67,188
46,930

Prepayments and accrued income
5,134
6,127

243,310
337,500


Page 9

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
442,414
267,903

Trade creditors
409,732
385,031

Amounts owed to group undertakings
715,011
465,083

Other taxation and social security
76,609
42,580

Obligations under finance lease and hire purchase contracts
34,443
31,219

Other creditors
2,519
1,849

Accruals and deferred income
64,092
44,942

1,744,820
1,238,607



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
65,725
39,286

65,725
39,286



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
34,443
31,219

Between 1-5 years
65,725
39,286

100,168
70,505

Page 10

 
OAKLEYS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



225,000 (2022 - 225,000) Ordinary A shares shares of £1.00 each
225,000
225,000
75,000 (2022 - 75,000) Ordinary B shares shares of £1.00 each
75,000
75,000

300,000

300,000



11.


Related party transactions

Included within other creditors due within one year is a loan from J and J Bland Ltd, of £715,011 (2022: £465,083). The loan has no fixed repayment date and interest is charged on the outstanding balance.


12.


Controlling party

The company is under the control of J and J Bland Limited, who owns 75% of the issued share capital.

 
Page 11