REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements |
|
for the Year Ended 31 March 2021 |
|
for |
|
OOMPH OUT AND ABOUT LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements |
|
for the Year Ended 31 March 2021 |
|
for |
|
OOMPH OUT AND ABOUT LIMITED |
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
OOMPH OUT AND ABOUT LIMITED |
|
Company Information |
for the Year Ended 31 March 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Chartered Accountants |
Statutory Auditors |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
Balance Sheet |
31 March 2021 |
|
31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks | 5 |
|
|
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
|
1. | STATUTORY INFORMATION |
|
Oomph Out And About Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
|
Income is spread evenly over the life of the contract in order to match costs. |
|
Tangible fixed assets |
|
|
Fixtures, Fittings and Equipment 3 Years |
|
Stocks |
Stocks are stated at cost. Cost is based on the first-in first-out principle and includes expenditure incurred in acquiring the stocks. |
|
Financial instruments |
Trade and other debtors / creditors |
|
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. |
|
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. |
|
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Operating lease |
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expense. |
|
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. |
|
Going concern |
The company has net current liabilities of £2,107,524 and a cash balance of £77,933. |
|
The company is dependent in part for its working capital on its parent company Oomph Wellness Limited. Oomph Wellness Limited has indicated that for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company and in particular that it will not seek repayment of the amounts currently made available. |
|
The directors of Oomph Wellness Limited have considered future trading performance for the group over the next 12 months. On the basis of the prepared projected cash-flow information, the group can meet its obligations as they fall due. However, if trading were to fall substantially below the current projections, additional funding may be required in order to meet its obligations as they fall due. |
|
The directors note there has been improvement in the group's finances since the nationwide lockdown has been lifted and they are enthusiastic about the groups' future growth in the aftermath of the Covid-19 pandemic. |
|
Based on the above and the group holding a positive cash balance the directors believe that it remains appropriate to prepare the financial statement on a going concern basis. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
DEPRECIATION |
At 1 April 2020 |
|
Charge for year |
|
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
|
5. | STOCKS |
31.3.21 | 31.3.20 |
£ | £ |
Stocks |
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
Accrued expenses |
|
|
Deferred government grants |
|
|
|
|
|
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
9. | OPERATING LEASES |
|
At 31 March 2021 the company has future operating lease commitments of NIL (2020: £592,344). |
OOMPH OUT AND ABOUT LIMITED (REGISTERED NUMBER: 10506523) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
|
10. | POST BALANCE SHEET EVENTS |
|
Following release of national lockdown restrictions excursions successfully resumed in July 2020. |
|
In May 2021, one of the group's investors, Social Finance, reached an exit agreement with Oomph Wellness Ltd involving the payment of a cash sum and issue of warrants which confer on Social Finance the right to subscribe for ordinary shares in the capital of the Company. |
|
In consideration Social Finance released and discharged the Company from its obligations and liabilities in respect of the outstanding loan notes amounting to £300,000 issued to Social Finance and all accrued and unpaid annual monitoring fees. |
|
The Directors confirm that there are no other significant subsequent events since 31 March 2021. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The immediate and ultimate parent company is Oomph Wellness Limited, with registered address of Suite 6 & 8 The Sanctuary, 23 Oakfield Grove, Surbiton KT6 6DU, which holds 100% of the share capital in Oomph Out and About Limited. The ultimate controlling party is considered to be Mr B Allen by virtue of his holding the largest shareholding in the parent company. |