O'Callaghan Limited Filleted accounts for Companies House (small and micro)
O'Callaghan Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05462045
|
|
|
|
STATEMENT OF FINANCIAL POSITION |
2020 |
2019 |
|||
Note |
£ |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
6 |
|
|
||
CURRENT ASSETS
Stocks |
|
|
|||
Debtors |
7 |
|
|
||
--------- |
--------- |
||||
|
|
||||
CREDITORS: amounts falling due within one year |
8 |
|
|
||
--------- |
--------- |
||||
NET CURRENT ASSETS |
|
|
|||
--------- |
--------- |
||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
CREDITORS: amounts falling due after more than one year |
9 |
|
|
||
PROVISIONS
Taxation including deferred tax |
|
|
||
--------- |
--------- |
|||
NET ASSETS |
|
|
||
--------- |
--------- |
|||
CAPITAL AND RESERVES
Called up share capital |
|
|
||
Profit and loss account |
|
|
||
--------- |
--------- |
|||
SHAREHOLDERS FUNDS |
|
|
||
--------- |
--------- |
|||
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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) |
These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2020
, and are signed on behalf of the board by:
|
|
Director |
Director |
Company registration number:
05462045
|
NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 30 JUNE 2020
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
(a)
Basis of preparation
(b)
Government grants
Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.
(c)
Revenue recognition
(d)
Taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
(e)
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 |
- |
10% per annum straight line |
|
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.
(f)
Tangible assets
(g)
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:
Plant & Machinery |
- |
10% per annum reducing balance |
|
Motor Vehicles |
- |
25% per annum reducing balance |
|
Equipment |
- |
25% per annum reducing balance |
|
(h)
Stocks
(i)
Finance leases and hire purchase contracts
(j)
Provisions
(k)
Financial instruments
Basic financial instruments are recognised at amortised cost.
(l)
Defined contribution plans
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
9
(2019:
11
).
5.
INTANGIBLE ASSETS
Goodwill |
|
£ |
|
Cost |
|
At 1 July 2019 and 30 June 2020 |
|
------- |
|
Amortisation |
|
At 1 July 2019 and 30 June 2020 |
|
------- |
|
Carrying amount |
|
At 30 June 2020 |
– |
------- |
|
At 30 June 2019 |
– |
------- |
|
6.
TANGIBLE ASSETS
Plant & Machinery |
Motor Vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 July 2019 |
|
|
14,945 |
|
Additions |
|
– |
1,772 |
|
Disposals |
(
|
(
|
(
1,260) |
(
|
--------- |
--------- |
-------- |
--------- |
|
At 30 June 2020 |
|
|
15,457 |
|
--------- |
--------- |
-------- |
--------- |
|
Depreciation |
||||
At 1 July 2019 |
|
|
10,304 |
|
Charge for the year |
|
|
1,696 |
|
Disposals |
(
|
(
|
(
1,218) |
(
|
--------- |
--------- |
-------- |
--------- |
|
At 30 June 2020 |
|
|
10,782 |
|
--------- |
--------- |
-------- |
--------- |
|
Carrying amount |
||||
At 30 June 2020 |
|
|
4,675 |
|
--------- |
--------- |
-------- |
--------- |
|
At 30 June 2019 |
|
|
4,641 |
|
--------- |
--------- |
-------- |
--------- |
|
7.
DEBTORS
2020 |
2019 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Corporation tax repayable |
– |
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
8.
CREDITORS:
amounts falling due within one year
2020 |
2019 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
Corporation tax |
|
– |
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Director loan accounts |
|
|
Other creditors |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Obligations under finance lease and hire purchase contracts are secured by a fixed charge over the related assets.
9.
CREDITORS:
amounts falling due after more than one year
2020 |
2019 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Obligations under finance lease and hire purchase contracts are secured by a fixed charge over the related assets.
10.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The bank loans are secured by a personal guarantee from the directors of the company.
11.
RELATED PARTY TRANSACTIONS
The company was under the control of the directors, Mr
S.E. O'Callaghan
and Ms L.E. O'Callaghan
, throughout the year. During the year the company paid dividends to the directors amounting to £100,000.