Caseware UK (AP4) 2024.0.164 2024.0.164 2022-12-282022-12-282021-12-301false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10234575 2021-12-30 2022-12-28 10234575 2021-01-01 2021-12-29 10234575 2022-12-28 10234575 2021-12-29 10234575 1 2021-12-30 2022-12-28 10234575 d:Director1 2021-12-30 2022-12-28 10234575 c:CurrentFinancialInstruments 2022-12-28 10234575 c:CurrentFinancialInstruments 2021-12-29 10234575 c:Non-currentFinancialInstruments 2022-12-28 10234575 c:Non-currentFinancialInstruments 2021-12-29 10234575 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-28 10234575 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-29 10234575 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-28 10234575 c:Non-currentFinancialInstruments c:AfterOneYear 2021-12-29 10234575 c:ShareCapital 2022-12-28 10234575 c:ShareCapital 2021-12-29 10234575 c:SharePremium 2022-12-28 10234575 c:SharePremium 2021-12-29 10234575 c:RetainedEarningsAccumulatedLosses 2022-12-28 10234575 c:RetainedEarningsAccumulatedLosses 2021-12-29 10234575 d:OrdinaryShareClass1 2021-12-30 2022-12-28 10234575 d:OrdinaryShareClass1 2022-12-28 10234575 d:OrdinaryShareClass1 2021-12-29 10234575 d:FRS102 2021-12-30 2022-12-28 10234575 d:AuditExempt-NoAccountantsReport 2021-12-30 2022-12-28 10234575 d:FullAccounts 2021-12-30 2022-12-28 10234575 d:PrivateLimitedCompanyLtd 2021-12-30 2022-12-28 10234575 6 2021-12-30 2022-12-28 10234575 e:PoundSterling 2021-12-30 2022-12-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10234575









OTIUM PARKS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 DECEMBER 2022



 
OTIUM PARKS LIMITED
REGISTERED NUMBER: 10234575

BALANCE SHEET
AS AT 28 DECEMBER 2022

28 December
As restated
29 December
2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
201,300
3,828,240

  
201,300
3,828,240

Current assets
  

Stocks
  
925,161
-

Debtors: amounts falling due within one year
 5 
1,332,007
576,802

Cash at bank and in hand
  
7,867
1,442

  
2,265,035
578,244

Creditors: amounts falling due within one year
 6 
(5,593,491)
(2,289,846)

Net current liabilities
  
 
 
(3,328,456)
 
 
(1,711,602)

Total assets less current liabilities
  
(3,127,156)
2,116,638

Creditors: amounts falling due after more than one year
 7 
(1,342,120)
(2,800,000)

  

Net liabilities
  
(4,469,276)
(683,362)


Capital and reserves
  

Called up share capital 
 8 
400
400

Share premium account
  
1,199,900
1,199,900

Profit and loss account
  
(5,669,576)
(1,883,662)

  
(4,469,276)
(683,362)


Page 1

 
OTIUM PARKS LIMITED
REGISTERED NUMBER: 10234575

BALANCE SHEET (CONTINUED)
AS AT 28 DECEMBER 2022

The Director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his 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 by: 






................................................
Mr Chek Whyte
Director

Date: 25 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

1.


General information

Otium Parks Limited is a private Company limited by shares and incorporated in England and Wales, within the United Kingdom. The Company's registered office is Queens Offices, 2 Arkwright Street, Nottingham, England, NG2 2GD. The principal activity of the Company continued to be that of a holding company.
This company is part of a group.

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 Company's functional and presentational currency is Pounds sterling.
 The financial statements have been rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has considered the going concern basis in preparing these financial statements. He has concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading by the Company and the director will continue to support the Company for a period of at least twelve months from the date of the approval of these financial statements to enable the Company to meet its liabilities as they arise. 
The financial statements do not include any adjustments that would be result from the withdrawal of this support.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

 
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

Corporation and deferred taxation

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.


Page 3

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

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.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objectives evidence of impairment is found an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2021 - 1).






Page 4

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

4.


Trade investments








Investments in subsidiary companies

£



Cost


At 30 December 2021 (as previously stated)
5,503,708


Prior Year Adjustment

201,100


At 30 December 2021 (as restated)
5,704,808



At 28 December 2022

5,704,808



Impairment


At 30 December 2021
1,876,568


Charge for the period
3,626,940



At 28 December 2022

5,503,508



Net book value



At 28 December 2022
201,300



At 29 December 2021 (as restated)
3,828,240

Page 5

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

5.


Debtors

28 December
As restated
29 December
2022
2021
£
£


Amounts owed by group undertakings
1,274,007
413,078

Amounts owed by joint ventures and associated undertakings
45,000
45,000

Other debtors
-
17,250

Called up share capital not paid
100
100

Prepayments and accrued income
12,900
-

Amounts recoverable on long-term contracts
-
101,374

1,332,007
576,802



6.


Creditors: Amounts falling due within one year

28 December
29 December
2022
2021
£
£

Bank loans
350,409
-

Trade creditors
2,827
19,948

Amounts owed to group undertakings
2,381,955
1,590,885

Amounts owed to associates
-
661,270

Corporation tax
1,865
1,652

Other taxation and social security
24,593
-

Other creditors
2,822,842
13,341

Accruals and deferred income
9,000
2,750

5,593,491
2,289,846



7.


Creditors: Amounts falling due after more than one year

28 December
29 December
2022
2021
£
£

Bank loans
1,342,120
-

Other creditors
-
2,800,000

1,342,120
2,800,000


Other creditors consist of unsecured loan notes which are due to mature in March 2023. Interest should be charged at the greater of 3.5% and 3.5% above the bank base rate but the loan note holder has agreed to waive this and therefore no interest has been charged. 

Page 6

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

8.


Share capital

28 December
29 December
2022
2021
£
£
Authorised, allotted, called up and not paid



400 (2021 - 400) Ordinary shares of £1.00 each
400
400



9.


Prior year adjustment

A prior year adjustment has been included within these financial statements to recognise an investment of £201,100 which relates to a share purchase that took place in November 2021. 
This adjustment has increased the cost of investment by £201,100 and decreased amounts owed by group undertakings by £201,100.
No further adjustments have been recognised except for those detailed above.


10.


Contingent liabilities

The Company has given guarantees in respect of it's parent company. These guarantees are secured by fixed and floating charges on the company assets.


11.


Related party transactions

During the year the Company continued its intercompany loan with  its subsidiaries. The balance is interest free and repayable on demand. The net balance of the intercompany loan is £1,107,948 owed by the Company (2021 - £1,177,807) and is shown within debtors and creditors.
During the year the Company continued its loans with Companies under common control. The balance is interest free and repayable on demand. The balance of the loans is £45,000 (2021 - £616,270 owed by the Company) and shown within debtors.
During the year the company continued a loan account with it's director, Chek Whyte. The balance is interest free and repayable on demand. The balance owed to the director is £2,000 (2021 - £7,000) and is shown within creditors.
As set out in note 8 the loan notes held by the director are unsecured loan notes which are due to mature in March 2023. Interest should be charged at the greater of 3.5% and 3.5% above the bank base rate but the loan note holder has agreed to waive this and therefore no interest has been charged. 


12.


Post balance sheet events

Included within other creditors are unsecured loan notes which were due to mature in March 2023. It has been agreed that these will not been paid until sufficient funds are available. The loan note holder has agreed to waive any interest and therefore no interest has been charged. 

Page 7

 
OTIUM PARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022

13.


Controlling party

The ultimate controlling party is Mr Chek Whyte by virtue of his 100% shareholding in Otium Parks Limited.


Page 8