Offerwide Limited 02548416 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the supply by mail order of horticultural products and the provision of consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 02548416 2023-01-01 2023-12-31 02548416 2023-12-31 02548416 bus:OrdinaryShareClass1 2023-12-31 02548416 bus:OrdinaryShareClass2 2023-12-31 02548416 bus:OrdinaryShareClass3 2023-12-31 02548416 bus:OrdinaryShareClass4 2023-12-31 02548416 core:RetainedEarningsAccumulatedLosses 2023-12-31 02548416 core:ShareCapital 2023-12-31 02548416 core:SharePremium 2023-12-31 02548416 core:CurrentFinancialInstruments 2023-12-31 02548416 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02548416 core:OtherPropertyPlantEquipment 2023-12-31 02548416 bus:SmallEntities 2023-01-01 2023-12-31 02548416 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02548416 bus:FilletedAccounts 2023-01-01 2023-12-31 02548416 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02548416 bus:RegisteredOffice 2023-01-01 2023-12-31 02548416 bus:Director3 2023-01-01 2023-12-31 02548416 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02548416 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 02548416 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 02548416 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 02548416 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02548416 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02548416 core:PlantMachinery 2023-01-01 2023-12-31 02548416 countries:EnglandWales 2023-01-01 2023-12-31 02548416 2022-12-31 02548416 core:OtherPropertyPlantEquipment 2022-12-31 02548416 2022-01-01 2022-12-31 02548416 2022-12-31 02548416 bus:OrdinaryShareClass1 2022-12-31 02548416 bus:OrdinaryShareClass2 2022-12-31 02548416 bus:OrdinaryShareClass3 2022-12-31 02548416 bus:OrdinaryShareClass4 2022-12-31 02548416 core:RetainedEarningsAccumulatedLosses 2022-12-31 02548416 core:ShareCapital 2022-12-31 02548416 core:SharePremium 2022-12-31 02548416 core:CurrentFinancialInstruments 2022-12-31 02548416 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02548416 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02548416

Offerwide Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Offerwide Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Offerwide Limited

Registration number: 02548416

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

24,489

32,637

Current assets

 

Stocks

5

99,782

89,421

Debtors

6

45,626

11,372

Cash at bank and in hand

 

1,191,303

934,341

 

1,336,711

1,035,134

Creditors: Amounts falling due within one year

7

(194,882)

(113,312)

Net current assets

 

1,141,829

921,822

Total assets less current liabilities

 

1,166,318

954,459

Provisions for liabilities

(6,122)

(6,201)

Net assets

 

1,160,196

948,258

Capital and reserves

 

Called up share capital

8

105

105

Share premium reserve

900

900

Retained earnings

1,159,191

947,253

Shareholders' funds

 

1,160,196

948,258



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Offerwide Limited

Registration number: 02548416

Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 18 September 2024
 

J Manners
Director

   
     

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
Unit B12 Base Business Park
Rendlesham
Woodbridge
Suffolk
IP12 2TW
United Kingdom

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

15% & 33% Reducing balance method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 10).

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

94,815

94,815

Additions

599

599

At 31 December 2023

95,414

95,414

Depreciation

At 1 January 2023

62,178

62,178

Charge for the year

8,747

8,747

At 31 December 2023

70,925

70,925

Carrying amount

At 31 December 2023

24,489

24,489

At 31 December 2022

32,637

32,637

5

Stocks

2023
£

2022
£

Other inventories

99,782

89,421

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Trade debtors

24,112

7,223

Prepayments

20,745

3,281

Other debtors

769

868

 

45,626

11,372

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

10,020

23,754

Directors loan account

10

2,377

-

Taxation and social security

 

176,642

85,299

Other creditors

 

5,843

4,259

 

194,882

113,312

 

Offerwide Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

30

30

30

30

Ordinary B shares of £1 each

30

30

30

30

Ordinary C shares of £1 each

44

44

44

44

Ordinary D shares of £1 each

1

1

1

1

105

105

105

105

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £11,132 (2022 - £3,978).

10

Related party transactions

Summary of transactions with parent

With effect from 9th September 2023 the company is a subsidiary of Offerwide Holdings Ltd which is a company registered in England and Wales. Consolidated accounts have not been prepared under the small companies exemption.