false
false
false
false
false
false
false
false
false
true
false
false
true
true
true
true
true
true
true
true
true
true
No description of principal activity
2016-06-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
200,000
183,333
16,667
200,000
16,667
xbrli:pure
xbrli:shares
iso4217:GBP
05320831
2016-06-01
2017-05-31
05320831
2017-05-31
05320831
2016-05-31
05320831
2015-06-01
2016-05-31
05320831
2016-05-31
05320831
core:FurnitureFittings
2016-06-01
2017-05-31
05320831
bus:LeadAgentIfApplicable
2016-06-01
2017-05-31
05320831
bus:Director2
2016-06-01
2017-05-31
05320831
core:NetGoodwill
2016-05-31
05320831
core:NetGoodwill
2017-05-31
05320831
core:LandBuildings
core:LongLeaseholdAssets
2016-05-31
05320831
core:FurnitureFittings
2016-05-31
05320831
core:LandBuildings
core:LongLeaseholdAssets
2017-05-31
05320831
core:FurnitureFittings
2017-05-31
05320831
core:LandBuildings
core:LongLeaseholdAssets
2016-06-01
2017-05-31
05320831
core:WithinOneYear
2017-05-31
05320831
core:WithinOneYear
2016-05-31
05320831
core:AfterOneYear
2017-05-31
05320831
core:AfterOneYear
2016-05-31
05320831
core:ShareCapital
2017-05-31
05320831
core:ShareCapital
2016-05-31
05320831
core:RetainedEarningsAccumulatedLosses
2017-05-31
05320831
core:RetainedEarningsAccumulatedLosses
2016-05-31
05320831
core:NetGoodwill
2016-06-01
2017-05-31
05320831
core:NetGoodwill
2016-05-31
05320831
core:LandBuildings
core:LongLeaseholdAssets
2016-05-31
05320831
core:FurnitureFittings
2016-05-31
05320831
bus:FRS102
2016-06-01
2017-05-31
05320831
bus:AuditExemptWithAccountantsReport
2016-06-01
2017-05-31
05320831
bus:FullAccounts
2016-06-01
2017-05-31
05320831
bus:SmallCompaniesRegimeForAccounts
2016-06-01
2017-05-31
05320831
bus:PrivateLimitedCompanyLtd
2016-06-01
2017-05-31
05320831
core:ParentEntities
2016-06-01
2017-05-31
05320831
core:OtherGroupMember1
2016-06-01
2017-05-31
05320831
core:OtherGroupMember2
2016-06-01
2017-05-31
05320831
core:OtherGroupMember3
2016-06-01
2017-05-31
05320831
core:OtherGroupMember4
2016-06-01
2017-05-31
05320831
core:OtherGroupMember5
2016-06-01
2017-05-31
05320831
core:ParentEntities
2017-05-31
05320831
core:OtherGroupMember1
2017-05-31
05320831
core:OtherGroupMember2
2017-05-31
05320831
core:OtherGroupMember3
2017-05-31
05320831
core:OtherGroupMember4
2017-05-31
05320831
core:OtherGroupMember5
2017-05-31
05320831
1
2016-06-01
2017-05-31
COMPANY REGISTRATION NUMBER:
05320831
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 MAY 2017
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
|
9
|
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 May 2017
Fixed assets
Intangible assets
|
5
|
|
–
|
|
16,667
|
Tangible assets
|
6
|
|
174,193
|
|
186,100
|
|
|
---------
|
|
---------
|
|
|
174,193
|
|
202,767
|
|
|
|
|
|
|
Current assets
Stocks
|
24,259
|
|
28,272
|
|
Debtors
|
7
|
177,579
|
|
177,563
|
|
Cash at bank and in hand
|
24,213
|
|
9,448
|
|
|
---------
|
|
---------
|
|
|
226,051
|
|
215,283
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
(
963,264)
|
|
(
911,543)
|
|
|
---------
|
|
---------
|
|
Net current liabilities
|
|
(
737,213)
|
|
(
696,260)
|
|
|
---------
|
|
---------
|
Total assets less current liabilities
|
|
(
563,020)
|
|
(
493,493)
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
(
400,000)
|
|
(
400,000)
|
|
|
---------
|
|
---------
|
Net liabilities
|
|
(
963,020)
|
|
(
893,493)
|
|
|
---------
|
|
---------
|
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
|
100
|
Profit and loss account
|
|
(
963,120)
|
|
(
893,593)
|
|
|
---------
|
|
---------
|
Shareholders deficit
|
|
(
963,020)
|
|
(
893,493)
|
|
|
---------
|
|
---------
|
|
|
|
|
|
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 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 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have 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
.
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 May 2017
These financial statements were approved by the
board of directors
and authorised for issue on
23 February 2018
, and are signed on behalf of the board by:
Mr R W A Manners
|
Director
|
|
Company registration number:
05320831
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 MAY 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
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.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 13.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
12 years straight line method
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Leasehold property
|
-
|
12 years straight line method
|
|
Fixtures and Fittings
|
-
|
25% reducing balance
|
|
|
|
|
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
25
(2016:
23
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 June 2016 and 31 May 2017
|
200,000
|
|
---------
|
Amortisation
|
|
At 1 June 2016
|
183,333
|
Charge for the year
|
16,667
|
|
---------
|
At 31 May 2017
|
200,000
|
|
---------
|
Carrying amount
|
|
At 31 May 2017
|
–
|
|
---------
|
At 31 May 2016
|
16,667
|
|
---------
|
|
|
6.
Tangible assets
|
Long leasehold property
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 June 2016
|
367,495
|
173,513
|
541,008
|
Additions
|
12,168
|
11,757
|
23,925
|
|
---------
|
---------
|
---------
|
At 31 May 2017
|
379,663
|
185,270
|
564,933
|
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
At 1 June 2016
|
213,178
|
141,730
|
354,908
|
Charge for the year
|
25,599
|
10,233
|
35,832
|
|
---------
|
---------
|
---------
|
At 31 May 2017
|
238,777
|
151,963
|
390,740
|
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
At 31 May 2017
|
140,886
|
33,307
|
174,193
|
|
---------
|
---------
|
---------
|
At 31 May 2016
|
154,317
|
31,783
|
186,100
|
|
---------
|
---------
|
---------
|
|
|
|
|
7.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
169,733
|
169,733
|
Other debtors
|
7,846
|
7,830
|
|
---------
|
---------
|
|
177,579
|
177,563
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Bank loans and overdrafts
|
52,827
|
85,871
|
Trade creditors
|
74,247
|
86,194
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
546,368
|
462,514
|
Social security and other taxes
|
43,473
|
42,221
|
Other creditors
|
246,349
|
234,743
|
|
---------
|
---------
|
|
963,264
|
911,543
|
|
---------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2017
|
2016
|
|
£
|
£
|
Other creditors
|
400,000
|
400,000
|
|
---------
|
---------
|
|
|
|
10.
Directors' advances, credits and guarantees
At the balance sheet date, the company owed an amount of £225,650 (2016: £225,650) to its directors. This amount is interest free and repayable on demand.
11.
Related party transactions
The company was under the control of Messrs R W A Manners and G G Manners throughout the current period. Messrs Manners and Manners are joint managing directors of the company and together with other family members, are shareholders of Orange Giraffe Holdings Limited, which in turn is the sole shareholder of OG5 Limited. At the balance sheet date, the company was owed £
169,733
(2016: £169,733) by Orange Giraffe Holdings Limited.
The following amounts were owed to fellow subsidiaries of Orange Giraffe Holdings Limited: An amount of £ 264,838
(2016: £240,283) to The Orange Giraffe Pub Company Limited
, £ 204,317
(2016 £191,976) to Yellow Bear Pub Co Limited
, £ 51,042
(2016: 1,042) from Purple Tiger Pub Co Limited
, £ 12,968
(2016: £12,968) to The Green Elephant Pub Company Limited
and £ 13,203
(2016 £16,245) to OG6 Limited
.. ries of Orange Giraffe Holdings Limited. All amounts are interest free and repayable on demand.
12.
Controlling party
The company is a fully owned subsidiary of Orange Giraffe Holdings Limited. The directors, together with other family members, hold 100% of the issued share capital of the parent company
.
13.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the year.
YEAR ENDED 31 MAY 2017
The following pages do not form part of the financial statements.
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
OG5 LIMITED
|
|
YEAR ENDED 31 MAY 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of OG5 Limited for the year ended 31 May 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of OG5 Limited, as a body, in accordance with the terms of our engagement letter dated 19 June 2016. Our work has been undertaken solely to prepare for your approval the financial statements of OG5 Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OG5 Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that OG5 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of OG5 Limited. You consider that OG5 Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of OG5 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BSG VALENTINE (UK) LLP
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
23 February 2018