0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,722,583 1,244,104 64,284 1,308,388 1,414,195 1,478,479 4,500,000 1,531,304 135,741 1,395,563 3,104,437 2,968,696 xbrli:pure xbrli:shares iso4217:GBP 00855112 2023-01-01 2023-12-31 00855112 2023-12-31 00855112 2022-12-31 00855112 2022-01-01 2022-12-31 00855112 2022-12-31 00855112 2021-12-31 00855112 bus:Director4 2023-01-01 2023-12-31 00855112 core:LandBuildings 2022-12-31 00855112 core:LandBuildings 2023-12-31 00855112 core:WithinOneYear 2023-12-31 00855112 core:WithinOneYear 2022-12-31 00855112 core:ShareCapital 2023-12-31 00855112 core:ShareCapital 2022-12-31 00855112 core:RetainedEarningsAccumulatedLosses 2023-12-31 00855112 core:RetainedEarningsAccumulatedLosses 2022-12-31 00855112 core:LandBuildings 2023-01-01 2023-12-31 00855112 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 00855112 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-12-31 00855112 core:ImpairmentReversalProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2023-12-31 00855112 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-31 00855112 core:Non-currentFinancialInstruments 2023-12-31 00855112 core:Non-currentFinancialInstruments 2022-12-31 00855112 core:LandBuildings 2022-12-31 00855112 bus:SmallEntities 2023-01-01 2023-12-31 00855112 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00855112 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00855112 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00855112 bus:FullAccounts 2023-01-01 2023-12-31 00855112 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 00855112
Oliver Gillard (Southmead) Limited
Filleted Unaudited Financial Statements
31 December 2023
Oliver Gillard (Southmead) Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,414,195
1,478,479
Investments
5
3,104,437
2,968,696
------------
------------
4,518,632
4,447,175
Creditors: amounts falling due within one year
6
( 6,815,525)
( 6,813,532)
------------
------------
Net current liabilities
( 6,815,525)
( 6,813,532)
------------
------------
Total assets less current liabilities
( 2,296,893)
( 2,366,357)
------------
------------
Net liabilities
( 2,296,893)
( 2,366,357)
------------
------------
Capital and reserves
Called up share capital
500
500
Profit and loss account
( 2,297,393)
( 2,366,857)
------------
------------
Shareholder deficit
( 2,296,893)
( 2,366,357)
------------
------------
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 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has 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 .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr P A Murphy
Director
Company registration number: 00855112
Oliver Gillard (Southmead) Limited
Notes to the Financial Statements
Year ended 31 December 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 Serridge House, Ruffet Road, Henfield, S Gloucestershire, BS36 2UY.
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.
Going concern
The company has returned losses in recent years due to depreciation charges. The company continues to receive support from its parent company, Mismo Connections (Guernsey) Limited, and its directors and so the directors are confident that funds will be available to meet the company's obligations for at least 12 months from the date of signing these financial statements. These financial statements have, therefore, been prepared on a going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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.
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:
Long leasehold property
-
Over the term of the lease
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
2,722,583
------------
Depreciation
At 1 January 2023
1,244,104
Charge for the year
64,284
------------
At 31 December 2023
1,308,388
------------
Carrying amount
At 31 December 2023
1,414,195
------------
At 31 December 2022
1,478,479
------------
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
4,500,000
------------
Impairment
At 1 January 2023
1,531,304
Reversal of impairment losses
( 135,741)
------------
At 31 December 2023
1,395,563
------------
Carrying amount
At 31 December 2023
3,104,437
------------
At 31 December 2022
2,968,696
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,926,836
3,905,663
Other creditors
2,888,689
2,907,869
------------
------------
6,815,525
6,813,532
------------
------------
7. Directors' advances, credits and guarantees
The directors have a current account with the company. The directors have advanced sums to the company and received repayments. At no time were these accounts overdrawn. At 31 December 2023 the balances due to directors and their family was £2,884,883 (2022: £2,906,056) which amount is included in creditors in these financial statements.
8. Related party transactions
Included in creditors in these financial statements is an amount of £996,346 (2022: £998,159) owing to Mismo Connections (Guernsey) Limited, the parent company. Also included in creditors is an amount of £2,866,864 (2022: £2,857,436) owing to The Kendleshire Golf Club Limited, a subsidiary of the company. Also included in creditors is £63,626 (2022: £50,068) owing to Manning of Fishponds Limited, a subsidiary of Mismo Connections (Guernsey) Limited.
9. Controlling party
In the opinion of the directors the immediate and ultimate controlling party is Mismo Connections (Guernsey) Limited, a company registered in Guernsey.