Outdoor Places & Spaces Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

Outdoor Places & Spaces Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10587541 . The registered office is Suite 10 Stowmarket Business Park, Ernest Nunn Road, Stowmarket, Suffolk, IP14 2ED.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the income statement over its estimated economic life of ten years.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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Outdoor Places & Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.9. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and trade creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 23)

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Outdoor Places & Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

4. Intangible Assets

	Goodwill	Computer software	Total
	£	£	£
Cost
As at 1 May 2024	37,824	7,657	45,481

As at 30 April 2025	37,824	7,657	45,481

Amortisation
As at 1 May 2024	25,270	7,657	32,927
Provided during the period	3,782	-	3,782

As at 30 April 2025	29,052	7,657	36,709

Net Book Value
As at 30 April 2025	8,772	-	8,772

As at 1 May 2024	12,554	-	12,554

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 May 2024	53,277	242,972	7,208	12,699	316,156
Additions	-	-	-	441	441
Disposals	-	(19,884 )	-	-	(19,884 )

As at 30 April 2025	53,277	223,088	7,208	13,140	296,713

Depreciation
As at 1 May 2024	29,974	90,507	4,243	7,643	132,367
Provided during the period	5,826	37,219	742	1,374	45,161
Disposals	-	(16,296 )	-	-	(16,296 )

As at 30 April 2025	35,800	111,430	4,985	9,017	161,232

Net Book Value
As at 30 April 2025	17,477	111,658	2,223	4,123	135,481

As at 1 May 2024	23,303	152,465	2,965	5,056	183,789

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	86,952	140,072

6. Stocks

	2025	2024
	£	£
Stock	34,374	30,517

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Outdoor Places & Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	402,502	505,635
Other debtors	164,869	86,197

	567,371	591,832

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	17,602	29,974
Trade creditors	129,151	194,524
Bank loans and overdrafts	5,957	4,314
Other loans	89,295	85,185
Other creditors	85,797	58,564
Taxation and social security	111,792	83,720

	439,594	456,281

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	40,900	58,516
Bank loans	24,324	31,255
Other loans	224,908	256,502

	290,132	346,273

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	17,602	29,974
Later than one year and not later than five years	40,900	58,516

	58,502	88,490

	58,502	88,490

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	15,347	25,328

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Outdoor Places & Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

12. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 May 2024	25,328	25,328
Deferred taxation	(9,981 )	(9,981 )

Balance at 30 April 2025	15,347	15,347

13. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
2 Ordinary Shares of £ 1.00 each	2	2
1 Ordinary B shares of £ 1.00 each	1	1
1 Ordinary C shares of £ 1.00 each	1	1
1 Ordinary D shares of £ 1.00 each	1	1
1 Ordinary E shares of £ 1.00 each	1	1
0 Ordinary F shares of £ 0.00 each	-	1

	6	7


Shares disposed during the period:	£
1 Ordinary F shares of £ 1.00 each	(1)

During the year the company repurchased 1 ordinary F share for consideration of £1. The share was subsequently cancelled.

14. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2025
	£	£	£	£	£
Mrs Candice Cook	40,761	74,959	23,429	-	92,291
Mr Jon-Paul Cook	-	40,985	20,311	-	20,674
Mr Ben Neaves	-	140	-	-	140
Mr Christopher Taylor	640	-	-	-	640

The above loan is unsecured, interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		8,772		12,554
Tangible Assets	5		135,481		183,789

			144,253		196,343
CURRENT ASSETS
Stocks	6	34,374		30,517
Debtors	7	567,371		591,832
Cash at bank and in hand		9,116		12,030

		610,861		634,379
Creditors: Amounts Falling Due Within One Year	8	(439,594 )		(456,281 )

NET CURRENT ASSETS (LIABILITIES)			171,267		178,098

TOTAL ASSETS LESS CURRENT LIABILITIES			315,520		374,441

Creditors: Amounts Falling Due After More Than One Year	9		(290,132 )		(346,273 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(15,347 )		(25,328 )

NET ASSETS			10,041		2,840

CAPITAL AND RESERVES
Called up share capital	13		6		7
Income Statement			10,035		2,833

SHAREHOLDERS' FUNDS			10,041		2,840

Mrs Candice Cook Director	Mr Jon-Paul Cook Director
11/12/2025