| Operational Solutions Limited |
| Registered number: |
07196015 |
| Balance Sheet |
| as at 31 March 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,134,280 |
|
|
1,125,216 |
| Investments |
4 |
|
|
701,851 |
|
|
701,851 |
|
|
|
|
1,836,131 |
|
|
1,827,067 |
|
| Current assets |
| Debtors |
5 |
|
1,120,996 |
|
|
1,589,198 |
| Cash at bank and in hand |
|
|
584,513 |
|
|
333,376 |
|
|
|
1,705,509 |
|
|
1,922,574 |
|
| Creditors: amounts falling due within one year |
6 |
|
(955,426) |
|
|
(1,511,792) |
|
| Net current assets |
|
|
|
750,083 |
|
|
410,782 |
|
| Total assets less current liabilities |
|
|
|
2,586,214 |
|
|
2,237,849 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(737,180) |
|
|
(411,969) |
|
|
|
| Net assets |
|
|
|
1,849,034 |
|
|
1,825,880 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
1,848,934 |
|
|
1,825,780 |
|
| Shareholders' funds |
|
|
|
1,849,034 |
|
|
1,825,880 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| M. R. Legh-Smith |
| Director |
| Approved by the board on 20 August 2018 |
|
| Operational Solutions Limited |
| Notes to the Accounts |
| for the year ended 31 March 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
Motor vehicles |
25% reducing balance method |
|
Plant and machinery |
25% reducing balance method |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
16 |
|
8 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2017 |
1,043,466 |
|
109,429 |
|
37,305 |
|
1,190,200 |
|
Additions |
6,521 |
|
30,760 |
|
- |
|
37,281 |
|
At 31 March 2018 |
1,049,987 |
|
140,189 |
|
37,305 |
|
1,227,481 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2017 |
- |
|
43,512 |
|
21,472 |
|
64,984 |
|
Charge for the year |
- |
|
24,259 |
|
3,958 |
|
28,217 |
|
At 31 March 2018 |
- |
|
67,771 |
|
25,430 |
|
93,201 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
1,049,987 |
|
72,418 |
|
11,875 |
|
1,134,280 |
|
At 31 March 2017 |
1,043,466 |
|
65,917 |
|
15,833 |
|
1,125,216 |
|
|
| 4 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2017 |
701,851 |
|
|
At 31 March 2018 |
701,851 |
|
|
| 5 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
223,950 |
|
190,583 |
|
Other debtors |
897,046 |
|
1,398,615 |
|
|
|
|
|
|
1,120,996 |
|
1,589,198 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans |
51,395 |
|
21,667 |
|
Trade creditors |
130,801 |
|
154,305 |
|
Corporation tax |
12,015 |
|
- |
|
Other taxes and social security costs |
38,013 |
|
35,578 |
|
Other creditors |
723,202 |
|
1,300,242 |
|
|
|
|
|
|
955,426 |
|
1,511,792 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans |
737,180 |
|
411,969 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2018 |
|
2017 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
788,575 |
|
433,636 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by a fixed & floating charge over the company's assets. |
|
|
| 9 |
Related party transactions |
|
|
Gurkha Homes Ltd |
|
A company in which M R Legh-Smith is a director and has a controlling interest.
During the year the company supplied services to Gurkha Homes ltd amounting to £11,033 (2017: £18,471).
|
|
|
|
|
|
|
|
2018 |
|
2017 |
| £ |
£ |
|
Amount due from (to) the related party |
(234,306) |
|
(245,611) |
|
|
OSL Properties Ltd |
|
A company in which M R Legh-Smith is a director.
During the year the company received repayments of the loans from OSL Properties Ltd amounting to £685,721 (2017: £493,096).
|
|
|
|
|
|
|
|
2018 |
|
2017 |
| £ |
£ |
|
Amount due from (to) the related party |
513,460 |
|
1,199,181 |
|
|
OSL Group Ltd - Parent company |
|
During the year the company paid dividends of £280,000 (2017 : £56,000) to OSL Group Ltd. |
|
|
|
RS Capp Ltd - Subsidiary |
|
During the year the company received dividends of £250,000 (2017: Nil) from R S Capp Ltd. |
|
|
|
M. R. Legh-Smith - Director |
|
|
|
|
|
|
2018 |
|
2017 |
| £ |
£ |
|
Amount due from (to) the related party |
(2,392) |
|
(621,772) |
|
|
|
| 10 |
Ultimate controlling party |
|
|
The ultimate controlling party is OSL Group Limited, a private company limited by shares and incorporated in England.
Its registered office is:
Sunnyside Farm Reading Road, Padworth Common, Reading, United Kingdom, RG7 4QN |
|
|
| 11 |
Other information |
|
|
Operational Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Sunnyside Farm |
|
Reading Road |
|
Padworth Common |
|
Reading |
|
RG7 4QN |
