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Registration number: 13014248

Outdoor Living Inspiration Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Outdoor Living Inspiration Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Outdoor Living Inspiration Ltd

Company Information

Directors

Brendan Mark Mahoney

Timothy James Watson

Registered office

90 Wey Hill
Haslemere
Surrey
GU27 1HS

Accountants

Mr Duncan Sweetland BSc (Hons) FCA
AIMS - Accountants for Business
86 Nightingale Road
Guildford
Surrey
GU1 1EP

 

Outdoor Living Inspiration Ltd

(Registration number: 13014248)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

456,630

456,630

Current assets

 

Cash at bank and in hand

 

20

1,268

Creditors: Amounts falling due within one year

5

(360,455)

(338,433)

Net current liabilities

 

(360,435)

(337,165)

Total assets less current liabilities

 

96,195

119,465

Creditors: Amounts falling due after more than one year

5

(113,033)

(127,531)

Net liabilities

 

(16,838)

(8,066)

Capital and reserves

 

Called up share capital

6

3

3

Retained earnings

(16,841)

(8,069)

Shareholders' deficit

 

(16,838)

(8,066)

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................
Brendan Mark Mahoney
Director

 

Outdoor Living Inspiration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
90 Wey Hill
Haslemere
Surrey
GU27 1HS

These financial statements were authorised for issue by the Board on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Outdoor Living Inspiration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

456,630

456,630

 

Outdoor Living Inspiration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Subsidiaries

£

Cost or valuation

Additions

456,630

Provision

Carrying amount

At 30 November 2023

456,630

At 30 November 2022

456,630

 

Outdoor Living Inspiration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

16,165

16,165

Other creditors

 

344,290

322,268

 

360,455

338,433

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

113,033

127,531

6

Share capital

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

113,033

127,531

Current loans and borrowings

2023
£

2022
£

Bank borrowings

16,165

16,165