Owlsworth Ltd - Accounts to registrar (filleted) - small 23.1.2

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REGISTERED NUMBER: 06566869 (England and Wales)

Financial Statements

for the Year Ended 31st December 2022

for

Owlsworth Ltd

Page

Company Information

Abridged Balance Sheet

Notes to the Financial Statements

DIRECTORS:

R H Blackwell

R M Dukes

J C Spalding

SECRETARY:

R Casbolt

REGISTERED OFFICE:

Unit 2

Paddock Road Industrial Estate

Caversham

Reading

Berkshire

RG4 5BY

REGISTERED NUMBER:

06566869 (England and Wales)

ACCOUNTANTS:

Buffery & Co Ltd

2 West Street

Henley On Thames

Oxfordshire

RG9 2DU

FIXED ASSETS

Intangible assets

42,500

Tangible assets

638,220

649,813

Investments

100,004

738,224

792,317

CURRENT ASSETS

Debtors

40,341

647,360

Cash at bank

96,605

184,331

136,946

831,691

CREDITORS

Amounts falling due within one year

262,602

1,041,677

NET CURRENT LIABILITIES

(125,656

)

(209,986

)

TOTAL ASSETS LESS CURRENT LIABILITIES

612,568

582,331

CREDITORS

Amounts falling due after more than one year

(356,027

)

(387,143

)

PROVISIONS FOR LIABILITIES

(21,292

)

(7,485

)

NET ASSETS

235,249

187,703

CAPITAL AND RESERVES

Called up share capital

25,000

Revaluation reserve

14,693

Retained earnings

195,556

148,010

SHAREHOLDERS' FUNDS

235,249

187,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2023 and were signed on its behalf by:

R H Blackwell - Director

1.	STATUTORY INFORMATION

Owlsworth Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill is the amount paid in connection with the acquisition of a business in 2008.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property - 20 years on cost

Fixtures and fittings - 30% on cost

Computer equipment - 30% to 50% on cost

Plant and machinery

- Company vans are depreciated at 25% on cost down to a residual value of £500.

- Other plant is depreciated at 40% to 45% on cost.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

COST

At 1st January 2022

and 31st December 2022

85,000

AMORTISATION

At 1st January 2022

42,500

Amortisation for year

42,500

At 31st December 2022

85,000

NET BOOK VALUE

At 31st December 2022

At 31st December 2021

42,500

5.	TANGIBLE FIXED ASSETS

Totals

COST OR VALUATION

At 1st January 2022

967,121

Additions

65,099

Disposals

(12,756

)

At 31st December 2022

1,019,464

DEPRECIATION

At 1st January 2022

317,308

Charge for year

76,192

Eliminated on disposal

(12,256

)

At 31st December 2022

381,244

NET BOOK VALUE

At 31st December 2022

638,220

At 31st December 2021

649,813

Cost or valuation at 31st December 2022 is represented by:

Totals

Valuation in 2018

14,693

Cost

1,004,771

1,019,464

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

COST

At 1st January 2022

and 31st December 2022

100,004

NET BOOK VALUE

At 31st December 2022

100,004

At 31st December 2021

100,004

7.	PROVISIONS FOR LIABILITIES

31.12.22

31.12.21

Deferred tax

21,292

7,485

Deferred

tax

Balance at 1st January 2022

7,485

Provided during year

13,807

Balance at 31st December 2022

21,292

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

25,000

Ordinary

£1

25,000

RESERVES

Revaluation

reserve

At 1st January 2022

and 31st December 2022

14,693

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2022 and 31st December 2021:

31.12.22

31.12.21

R M Dukes

Balance outstanding at start of year

25,463

Amounts advanced

25,463

Amounts repaid

(25,463

)

Amounts written off

Amounts waived

Balance outstanding at end of year

25,463