Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-01-01falseNo description of principal activity44truefalse 05196802 2023-01-01 2023-12-31 05196802 2022-01-01 2022-12-31 05196802 2023-12-31 05196802 2022-12-31 05196802 c:Director1 2023-01-01 2023-12-31 05196802 d:Buildings 2023-01-01 2023-12-31 05196802 d:Buildings 2023-12-31 05196802 d:Buildings 2022-12-31 05196802 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2023-12-31 05196802 d:Buildings d:LongLeaseholdAssets 2022-12-31 05196802 d:PlantMachinery 2023-01-01 2023-12-31 05196802 d:PlantMachinery 2023-12-31 05196802 d:PlantMachinery 2022-12-31 05196802 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:FurnitureFittings 2023-01-01 2023-12-31 05196802 d:FurnitureFittings 2023-12-31 05196802 d:FurnitureFittings 2022-12-31 05196802 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:ComputerEquipment 2023-01-01 2023-12-31 05196802 d:ComputerEquipment 2023-12-31 05196802 d:ComputerEquipment 2022-12-31 05196802 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05196802 d:OtherPropertyPlantEquipment 2023-12-31 05196802 d:OtherPropertyPlantEquipment 2022-12-31 05196802 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05196802 d:Goodwill 2023-12-31 05196802 d:Goodwill 2022-12-31 05196802 d:CurrentFinancialInstruments 2023-12-31 05196802 d:CurrentFinancialInstruments 2022-12-31 05196802 d:Non-currentFinancialInstruments 2023-12-31 05196802 d:Non-currentFinancialInstruments 2022-12-31 05196802 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05196802 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05196802 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05196802 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05196802 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 05196802 d:ShareCapital 2023-12-31 05196802 d:ShareCapital 2022-12-31 05196802 d:RetainedEarningsAccumulatedLosses 2023-12-31 05196802 d:RetainedEarningsAccumulatedLosses 2022-12-31 05196802 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05196802 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 05196802 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05196802 c:OrdinaryShareClass1 2023-12-31 05196802 c:OrdinaryShareClass1 2022-12-31 05196802 c:FRS102 2023-01-01 2023-12-31 05196802 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05196802 c:FullAccounts 2023-01-01 2023-12-31 05196802 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05196802 2 2023-01-01 2023-12-31 05196802 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 05196802 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05196802










MID WALES SHOOTING CENTRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MID WALES SHOOTING CENTRE LIMITED
REGISTERED NUMBER: 05196802

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
15,000
30,000

Tangible assets
 6 
692,204
874,147

  
707,204
904,147

Current assets
  

Stocks
  
27,500
29,000

Debtors: amounts falling due within one year
 8 
378,771
184,381

Cash at bank and in hand
 9 
31,767
9,596

  
438,038
222,977

Creditors: amounts falling due within one year
 10 
(192,154)
(94,661)

Net current assets
  
 
 
245,884
 
 
128,316

Total assets less current liabilities
  
953,088
1,032,463

Creditors: amounts falling due after more than one year
 11 
(5,252)
(60,791)

Provisions for liabilities
  

Deferred tax
 13 
(1,525)
(5,558)

  
 
 
(1,525)
 
 
(5,558)

Net assets
  
946,311
966,114


Capital and reserves
  

Called up share capital 
 14 
99
99

Profit and loss account
  
946,212
966,015

  
946,311
966,114


Page 1

 
MID WALES SHOOTING CENTRE LIMITED
REGISTERED NUMBER: 05196802
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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 on 13 September 2024.




J E Williams
Director

The notes on pages 3 to 15 form part of these financial statements.

Page 2

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mid Wales Shooting Centre Limited, 05196802, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Ffinnant, Trefeglwys, Caersws, Powys, SY17 5QY.
The principal activity of the company continues to be leisure related activities.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Interest income

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

Page 3

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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

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 Statement of comprehensive income over its useful economic life which is considered to be 10 years.

 
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.

Page 4

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
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 and straight line basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line on buildings
Long-term leasehold property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
25%
straight line
Other fixed assets
-
2%
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.

 
2.9

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

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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.

 
2.15

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimated will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees




The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
150,000



At 31 December 2023

150,000



Amortisation


At 1 January 2023
120,000


Charge for the year on owned assets
15,000



At 31 December 2023

135,000



Net book value



At 31 December 2023
15,000



At 31 December 2022
30,000



Page 7

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 January 2023
717,030
214,790
118,041
3,710
9,133


Additions
-
-
-
1,200
-


Disposals
-
(174,256)
(100,291)
(3,374)
-



At 31 December 2023

717,030
40,534
17,750
1,536
9,133



Depreciation


At 1 January 2023
63,926
31,195
98,137
2,848
9,133


Charge for the year on owned assets
8,241
4,296
1,206
348
-


Disposals
-
(21,308)
(85,211)
(2,713)
-



At 31 December 2023

72,167
14,183
14,132
483
9,133



Net book value



At 31 December 2023
644,863
26,351
3,618
1,053
-



At 31 December 2022
653,104
183,595
19,904
862
-
Page 8

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           6.Tangible fixed assets (continued)


Site improvements
Total

£
£



Cost or valuation


At 1 January 2023
18,134
1,080,838


Additions
-
1,200


Disposals
-
(277,921)



At 31 December 2023

18,134
804,117



Depreciation


At 1 January 2023
1,452
206,691


Charge for the year on owned assets
363
14,454


Disposals
-
(109,232)



At 31 December 2023

1,815
111,913



Net book value



At 31 December 2023
16,319
692,204



At 31 December 2022
16,682
874,147

Page 9

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Stocks

2023
2022
£
£

Caravan stocks
27,500
29,000

27,500
29,000



8.


Debtors

2023
2022
£
£


Trade debtors
100,300
9,822

Amounts owed by group undertakings
274,734
173,366

Other debtors
2,565
1,193

Prepayments and accrued income
1,172
-

378,771
184,381



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
31,767
9,596

31,767
9,596


Page 10

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
55,283
68,018

Payments received on account
-
8,750

Trade creditors
5,535
230

Amounts owed to group undertakings
3,500
3,500

Other taxation and social security
28,538
7,421

Other creditors
10,110
2,168

Accruals and deferred income
89,188
4,574

192,154
94,661


The following liabilities were secured:

2023
2022
£
£



Bank loans
55,283
68,018

55,283
68,018

Details of security provided:

The bank loans are secured upon the assets of the Company.

Page 11

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
5,252
60,791

5,252
60,791


The following liabilities were secured:

2023
2022
£
£



Bank loans
5,252
60,791

5,252
60,791

Details of security provided:

The bank loans are secured upon the assets of the Company.

Page 12

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
55,283
68,018


55,283
68,018

Amounts falling due 1-2 years

Bank loans
5,252
55,242


5,252
55,242

Amounts falling due 2-5 years

Bank loans
-
5,550


-
5,550


60,535
128,810


Page 13

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Deferred taxation




2023


£






At beginning of year
5,558


Charged to profit or loss
(4,033)



At end of year
1,525

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
1,525
5,558

1,525
5,558


14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



99 (2022 - 99) Ordinary shares of £1.00 each
99
99



15.


Related party transactions

Included within amounts owed by group undertakings is an amount due in the sum of £269,854 (2022: £168,403) from Meadow Springs Limited (Mr J E Williams is a director of both companies). Repayments of £63,604 have been received in the period and no interest has been charged on the amount. Loan advances have been made in the sum of £165,055. The balance is repayable on demand.
Included within amounts owed by group undertakings is an amount due in the sum of £4,880 (2022: £4,964) from Penddol Holiday Park Limited (Mr J E Williams is a director of both companies). Repayments of £84 have been received in the period and no interest has been charged on the amount. The balance is repayable on demand.
Included within amounts owed to group undertakings is an amount due in the sum of £3,500 (2022: £3,500) to The Oaks Leisure Group Limited (Mr J E Williams is a director of both companies). No repayments have been made in the period and no interest has been charged on the amount. The balance is repayable on demand.

Page 14

 
MID WALES SHOOTING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

16.


Controlling party

The ultimate holding company is The Oaks Leisure Group Limited, which own 100% of the issued share capital, and is a UK registered company. The registered office address is the same as this Company.

 
Page 15