REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Outwood Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Outwood Investments Limited |
Outwood Investments Limited (Registered number: 08520871) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Outwood Investments Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Roland House |
Princes Dock Street |
HULL HU1 2LD |
Outwood Investments Limited (Registered number: 08520871) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 11 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Outwood Investments Limited (Registered number: 08520871) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Outwood Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property are shown at cost in the balance sheet. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
Disposals | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the year | ( |
) |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Profit/(loss) for the year | ( |
) |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the year | ( |
) |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Loss for the year | ( |
) | ( |
) |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the year | ( |
) |
Outwood Investments Limited own a 9% shareholding in Project Osprey Bidco Limited. Legalosophy Limited are a trading subsidiary of Project Osprey Bidco Limited. |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the year | ( |
) |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Profit/(loss) for the year | ( |
) |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2024 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 30 June 2024 the Company owed R L Worrell £503,116 (2023 - £511,113) in relation to his director's current account. This amount is repayable on demand and no interest is charged on the outstanding balance. |
At 30 June 2024 the Company owed R L Worrell £8,081,421 (2023 - £7,876,421) in relation to his director's loan account. This loan is not due to be repaid in the immediate 12 months from the balance sheet date and is therefore recognised as such in the company's balance sheet. |
At 30 June 2024 the Company owed N Worrell £97,531 (2023- £96,851) in relation to her director's current account. This amount is repayable on demand and no interest is charged on the outstanding balance. |
Outwood Investments Limited (Registered number: 08520871) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
13. | RELATED PARTY DISCLOSURES |
Cybro Holdings Limited |
At 30 June 2024 the Company was owed £766,970 (2023 - £826,970) by Cybro Holdings Limited, a company which R L Worrell is a director and shareholder. This loan is repayable on demand on a mixture of interest free loans and loans at a rate of 3% above base. Interest of £49,908 (2023 - £41,188) was charged during the year. |
Inspire Vivariums Limited |
At 30 June 2024 the Company was owed £445,204 (2023 - £445,204) by Inspire Vivariums Limited, a company which R L Worrell is a shareholder. This loan is interest free and repayable on demand. |
Engagement in Education Limited |
At 30 June 2024 the Company was owed £172 (2023 - £172) by Engagement in Education Limited, a company which Outwood Investments Limited and R L Worrell are both shareholders of. This loan is interest free and repayable on demand. |
Rooster Developments Limited |
At 30 June 2024 the Company was owed £840,000 (2023 - £500,000) by Rooster Developments Limited, a Company that Outwood Investments Limited is a 33.33% shareholder of. Interest of £12,350 (2023- £NIL) has been charged during the year. |
White Venues Limited |
At 30 June 2024 the Company was owed £500,000 (2023 - £500,000) by White Venues Limited, a Company that Outwood Investments Limited is a 33.33% shareholder of. Interest will be charged at 3% above the base rate on this loan when it is repaid. |
Legalosophy Limited |
At 30 June 2024 the company was owed £1,000,000 (2023 - £1,000,000) by Legalosophy Limited, a Company that Outwood Investments Limited is a 9% shareholder of. Interest is charged at 5% above the basic rate. Interest of £107,106 (2023 - £38,846) was charged during the year. |
Tower Residential Care Limited |
During the year, the company loaned Tower Residential Care Limited £301,292. Interest is charged at 3% above the base rate. Interest of £14,887 was charged during the year. |
B R Building Contractors (Hull) Limited |
At 30 June 2024 Outwood Investments Limited owed B R Building Contractors (Hull) Limited £425,000 (2023 - £425,000). This loan is interest free and repayable on demand. |
14. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors. |