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REGISTERED NUMBER: 11113518 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

O'REILLY HOLDINGS LIMITED

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Group Strategic Report 2 to 3

Report of the Directors 4 to 5

Report of the Independent Auditors 6 to 9

Consolidated Statement of Comprehensive Income 10

Consolidated Statement of Financial Position 11

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Statement of Cash Flows 15

Notes to the Consolidated Statement of Cash Flows 16 to 17

Notes to the Consolidated Financial Statements 18 to 31


O'REILLY HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D O'Reilly
Mrs J O'Reilly
Mr J O'Reilly



REGISTERED OFFICE: C/o DPC Accountants
Stone House
55 Stone Road Business Park
Stoke on Trent
Staffordshire
ST4 6SR



BUSINESS ADDRESS: 4 Pennine Way
Saltley
Birmingham
West Midlands
B8 1JW



REGISTERED NUMBER: 11113518 (England and Wales)



AUDITORS: DPC Accountants Ltd
Chartered accountants & statutory auditors
Stone House
Stone Road Business Park
Stoke-On-Trent
ST4 6SR



BANKERS: Svenska Handelsbanken AB
Island Reach
Festival Way
Festival Park
Stoke-on-Trent
ST1 5SW

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023


The directors present their strategic report of the company and the group for the year ended 31 March 2023.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties that we face.

Our principal activity of providing logistics services, warehouse and storage facilities to our customers has continued throughout the year.

REVIEW OF BUSINESS
During the reporting period, we encountered persistent challenges associated with the scarcity of skilled drivers. Employee retention dynamics have undergone changes since the onset of the Covid-19 pandemic, with staff now seeking enhanced comfort and improved work environments, which were not previously prioritised. In response, we have modified our recruitment and retention strategies accordingly.

Numerous markets, particularly the retail sector, remained uncertain, leading to the postponement or cancellation of investments. As a result, our growth has been constrained. Nevertheless, we have utilised our warehouse operation to accommodate postponed investments from various industries, storing goods for future projects.

The warehouse operation further diversified its scope by expanding beyond mere storage functions. In addition to accommodating goods, it now encompasses an extensive range of pick and pack operations and comprehensive stock handling services catering to a diverse array of customers. This strategic expansion has enabled us to provide a more comprehensive suite of solutions, meeting the unique requirements of our valued clientele.

To meet the evolving demands of our customers and maintain competitiveness, we have successfully acquired new vehicles and continued investing in our fleet. This has ensured that our staff members have access to high-specification vehicles equipped with luxurious amenities. Moreover, it has enabled us to expand our range of services and offer more customised solutions to our customers.

Fuel costs have continued to fluctuate due to the lingering impacts of the Ukraine war and intermittent domestic protests that have disrupted fuel deliveries to our sites. In response to these challenges, we have adjusted alongside our customers by implementing fuel surcharges in 2020 and 2021.

The international sector has exhibited notable diversity and growth, enabling us to offer customers a comprehensive suite of services, including air freight, sea freight, and customs solutions. This strategic expansion has expanded our service portfolio, enhancing our ability to cater to our customers' diverse needs.

There was an operating profit for the year of £590,447 (2022: £1,026,706) and profit before tax of £577,400 (2022: £938,113).

PRINCIPAL RISKS AND UNCERTAINTIES
The uncertainty regarding Brexit is resulting in a general downturn in activity in the short term. We see the medium-term outlook as positive regardless of the eventual Brexit outcome. We are seeing strong interest from clients who may require stock to be stored to avoid any disruption at UK ports. We also offer a ' HMRC approved bonded warehouse' facility for new clients outside of the EU.

FINANCIAL RISK MANAGEMENT
Credit risk is addressed by carrying out regular checks of our customers with a reputable credit risk agency and holding a provision for doubtful debts on the balance sheet.


O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

CORPORATE AND SOCIAL RESPONSIBILITY
The group recognises its responsibilities in terms of equality and human rights towards its employees and individuals involved with the company. To these ends a high priority is given to ethical considerations in supplier and employee selection and partnership. The group has well established codes in respect of employee welfare and respect for the community and the group operates these.

OPERATING EXPENSES
Operational expenses are monitored continually for each expense category and the directors are satisfied that the business continues to demonstrate strong cost control and caution in its decision making.

WORKING CAPITAL
The group meets its day to day working capital requirements through cash receipts from customers. These are closely monitored to ensure adherence to agreed credit terms. Stock is regularly reviewed to ensure that the valuation is in line with UK accounting standards and is deemed recoverable. Any obsolete stock that is identified is fully provided for within these financial statements.

ON BEHALF OF THE BOARD:





Mr J O'Reilly - Director


20 October 2023

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2023 will be £118,600.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

Mr D O'Reilly
Mrs J O'Reilly
Mr J O'Reilly

DISCLOSURE IN THE STRATEGIC REPORT
The group has, in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, set out in the company's strategic report information require by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 including future developments.

The strategic report can be found on pages 2-3 of the financial statements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023


AUDITORS
The auditors is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:





Mr J O'Reilly - Director


20 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O'REILLY HOLDINGS LIMITED


Opinion
We have audited the financial statements of O'reilly Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O'REILLY HOLDINGS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O'REILLY HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the group documentation of their policies and procedures relating to:
- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the group risks and ensure the risks were considered throughout all areas of the group audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or irregularities. Our procedures to identify any potential fraud or irregularities are as follows:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O'REILLY HOLDINGS LIMITED

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express and opinion on the consolidated financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Helen Tidyman (Senior Statutory Auditor)
for and on behalf of DPC Accountants Ltd
Chartered accountants & statutory auditors
Stone House
Stone Road Business Park
Stoke-On-Trent
ST4 6SR

23 October 2023

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

31.3.23 31.3.22
Notes £    £   

REVENUE 3 11,850,432 9,816,287

Cost of sales (9,132,833 ) (7,396,447 )
GROSS PROFIT 2,717,599 2,419,840

Administrative expenses (2,127,152 ) (1,930,203 )
590,447 489,637

Other operating income - 537,069
GROUP OPERATING PROFIT 5 590,447 1,026,706

Share of operating profit in
Associates 42,543 19,335


Interest payable and similar expenses 6 (55,590 ) (107,928 )
PROFIT BEFORE TAXATION 577,400 938,113

Tax on profit 7 (84,591 ) (146,852 )
PROFIT FOR THE FINANCIAL YEAR 492,809 791,261

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

492,809

791,261

Profit attributable to:
Owners of the parent 450,583 719,163
Non-controlling interests 42,226 72,098
492,809 791,261

Total comprehensive income attributable to:
Owners of the parent (42,226 ) (72,098 )
Non-controlling interests 42,226 72,098

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 10 17,555 22,645
Property, plant and equipment 11 3,402,536 2,360,861
Investments 12
Interest in associate 50,329 41,105
3,470,420 2,424,611

CURRENT ASSETS
Inventories 13 17,673 92,903
Debtors 14 3,371,983 3,339,141
Cash at bank and in hand 259,784 78,854
3,649,440 3,510,898
CREDITORS
Amounts falling due within one year 15 (3,037,259 ) (3,119,617 )
NET CURRENT ASSETS 612,181 391,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,082,601

2,815,892

CREDITORS
Amounts falling due after more than one
year

16

(1,049,016

)

(190,310

)

PROVISIONS FOR LIABILITIES 20 (281,599 ) (205,305 )
NET ASSETS 2,751,986 2,420,277

CAPITAL AND RESERVES
Called up share capital 21 898 898
Retained earnings 22 2,669,746 2,337,763
SHAREHOLDERS' FUNDS 2,670,644 2,338,661

NON-CONTROLLING INTERESTS 23 81,342 81,616
TOTAL EQUITY 2,751,986 2,420,277

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





Mr J O'Reilly - Director


O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

COMPANY STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Property, plant and equipment 11 - -
Investments 12 3,564,344 3,564,344
3,564,344 3,564,344

CURRENT ASSETS
Debtors 14 210,982 462
Cash in hand 205,990 43,585
416,972 44,047
CREDITORS
Amounts falling due within one year 15 (2,450,725 ) (2,611,172 )
NET CURRENT LIABILITIES (2,033,753 ) (2,567,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,530,591

997,219

CAPITAL AND RESERVES
Called up share capital 21 898 898
Retained earnings 1,529,693 996,321
SHAREHOLDERS' FUNDS 1,530,591 997,219

Company's profit for the financial year 651,972 155,533

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

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





Mr J O'Reilly - Director


O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   

Balance at 1 April 2021 898 1,751,500 1,752,398 55,518 1,807,916

Changes in equity
Dividends - (132,900 ) (132,900 ) (46,000 ) (178,900 )
Total comprehensive income - 719,163 719,163 72,098 791,261
Balance at 31 March 2022 898 2,337,763 2,338,661 81,616 2,420,277

Changes in equity
Dividends - (118,600 ) (118,600 ) (42,500 ) (161,100 )
Total comprehensive income - 450,583 450,583 42,226 492,809
Balance at 31 March 2023 898 2,669,746 2,670,644 81,342 2,751,986

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 898 973,688 974,586

Changes in equity
Dividends - (132,900 ) (132,900 )
Total comprehensive income - 155,533 155,533
Balance at 31 March 2022 898 996,321 997,219

Changes in equity
Dividends - (118,600 ) (118,600 )
Total comprehensive income - 651,972 651,972
Balance at 31 March 2023 898 1,529,693 1,530,591

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,504,972 833,865
Interest paid (28,457 ) (66,589 )
Interest element of hire purchase
payments paid

(27,133

)

(41,339

)
Tax paid (144,098 ) (83,079 )
Net cash from operating activities 1,305,284 642,858

Cash flows from investing activities
Purchase of intangible fixed assets - (25,444 )
Purchase of tangible fixed assets (460,227 ) (87,784 )
Sale of tangible fixed assets 131,000 38,197
Dividends received from assoc 25,000 -
Net cash from investing activities (304,227 ) (75,031 )

Cash flows from financing activities
Loan repayments in year - (220,000 )
Capital repayments in year (315,688 ) (609,970 )
Amount introduced by directors 19,892 9,519
Amount withdrawn by directors (383,933 ) (17,752 )
Equity dividends paid (118,600 ) (132,900 )
Dividends paid to minority interests (42,500 ) (46,000 )
Net cash from financing activities (840,829 ) (1,017,103 )

Increase/(decrease) in cash and cash equivalents 160,228 (449,276 )
Cash and cash equivalents at
beginning of year

2

(61,172

)

388,104

Cash and cash equivalents at end of
year

2

99,056

(61,172

)

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 577,400 938,113
Depreciation charges 593,797 657,631
Loss on disposal of fixed assets 106,182 15,355
Share of associate profit/(loss) (42,543 ) 5,665
Finance costs 55,590 107,928
1,290,426 1,724,692
Decrease/(increase) in inventories 75,230 (44,133 )
Increase in trade and other debtors (32,841 ) (358,236 )
Increase/(decrease) in trade and other creditors 172,157 (488,458 )
Cash generated from operations 1,504,972 833,865

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 259,784 78,854
Bank overdrafts (160,728 ) (140,026 )
99,056 (61,172 )
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 78,854 388,104
Bank overdrafts (140,026 ) -
(61,172 ) 388,104


O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.4.22 Cash flow changes At 31.3.23
£    £    £    £   
Net cash
Cash at bank
and in hand 78,854 180,930 259,784
Bank overdrafts (140,026 ) (20,702 ) (160,728 )
(61,172 ) 160,228 99,056
Debt
Finance leases (560,540 ) 315,688 (1,407,338 ) (1,652,190 )
(560,540 ) 315,688 (1,407,338 ) (1,652,190 )
Total (621,712 ) 475,916 (1,407,338 ) (1,553,134 )

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

O'reilly Holdings Limited 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of O'Reilly Holdings Limited which can be obtained from the companies registered office.
As such, advantage has been taken of the following disclosure exemptions available under
paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.

BASIS OF CONSOLIDATION
The financial statements consolidate the financial statements of O'Reilly Holdings Limited and all of its subsidiary undertakings.

The Group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the Group's share of the results of associates made up to 31 March 2023.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the Group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the Group, adjustments are made to those subsidiary financial statements to apply the Group's accounting policies when preparing the consolidated financial statements.

All intra-Group transactions, balances, income and expenses are eliminated on consolidation. Adjustments are made to eliminate the profit and loss arising on transactions with associates to the extent of the Group's interest in the entity.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income.

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

SIGNIFICANT JUDGEMENTS AND ESTIMATES
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.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Impairment of debtors
The company and group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(ii) Estimated useful lives and residual values of fixed assets
As described in notes to the financial statements, depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

(iii) Dilapidation and contingencies
Provision is made for asset dilapidation and contingencies. These provisions require management's best estimate of the costs that will be incurred based on legislative and contractual requirements.

NON-CONTROLLING INTEREST
Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

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

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Cargo Express Limited hires and rents its assets to it's subsidiary and third party customers. Revenue is recognised in the accounting period in which the rental period relates to.

Montad Limited offers transport and logistic services across the UK and Europe. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably. Turnover is recognised once the goods have been picked up and delivered to the relevant destination.

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 25% reducing balance and 20% reducing balance
Motor vehicles - Straight line over 6 years

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.

INVESTMENTS IN ASSOCIATES
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

STOCKS
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

CORPORATION TAX
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 statement of financial position date.


O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

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.

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. REVENUE

The revenue and profit before taxation are attributable to the principal activities of the group.

An analysis of revenue by geographical market is given below:

31.3.23 31.3.22
£    £   
United Kingdom 10,109,485 9,301,535
Europe 1,740,947 514,752
11,850,432 9,816,287

4. EMPLOYEES AND DIRECTORS
31.3.23 31.3.22
£    £   
Wages and salaries 3,721,212 3,108,174
Social security costs 402,240 316,025
Other pension costs 88,039 65,427
4,211,491 3,489,626

The average number of employees during the year was as follows:
31.3.23 31.3.22

Administration and management 18 18
Other staff - drivers 87 76
105 94

31.3.23 31.3.22
£    £   
Directors' remuneration 22,562 26,473

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes 1 1

During the year, the group made contributions of £384 (2022: £439).

5. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Hire of plant and machinery 135,445 74,634
Other operating leases 94,092 115,685
Depreciation - owned assets 588,707 654,832
Loss on disposal of fixed assets 106,183 15,355
Computer software amortisation 5,090 2,799
Auditors' remuneration 12,044 11,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.23 31.3.22
£    £   
Bank loan interest - 27,528
Other interest payable 28,457 39,061
Hire purchase interest 27,133 41,339
55,590 107,928

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax (22 ) 150,363
Associates corporation tax 8,319 -
Total current tax 8,297 150,363

Deferred tax 76,294 (3,511 )
Tax on profit 84,591 146,852

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. TAXATION - continued

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.23 31.3.22
£    £   
Profit before tax 577,400 938,113
Profit multiplied by the standard rate of corporation tax in the UK of
19 % (2022 - 19 %)

109,706

178,241

Effects of:
Expenses not deductible for tax purposes 11,204 1,332
Capital allowances in excess of depreciation (102,945 ) (23,105 )
R&D enhanced deduction - (9,616 )
Adjustments in respect to future changes in tax rates 66,626 -
Total tax charge 84,591 146,852

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31.3.23 31.3.22
£    £   
Ordinary A shares shares of £0.01 each
Interim 2,000 2,000
Ordinary B shares shares of £0.01 each
Interim 11,600 5,900
Ordinary C shares shares of £0.01 each
Interim 60,000 60,000
Ordinary D shares shares of £0.01 each
Interim - 40,000
Ordinary E shares shares of £0.01 each
Interim 15,000 25,000
Ordinary F Shares shares of £0.01 each
Interim 30,000 -
118,600 132,900

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1 April 2022
and 31 March 2023 25,444
AMORTISATION
At 1 April 2022 2,799
Amortisation for year 5,090
At 31 March 2023 7,889
NET BOOK VALUE
At 31 March 2023 17,555
At 31 March 2022 22,645

11. PROPERTY, PLANT AND EQUIPMENT

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 84,086 153,075 3,585,739 3,822,900
Additions - 6,838 1,860,727 1,867,565
Disposals - - (949,884 ) (949,884 )
Reclassification/transfer 392,754 - (392,754 ) -
At 31 March 2023 476,840 159,913 4,103,828 4,740,581
DEPRECIATION
At 1 April 2022 42,238 68,181 1,351,620 1,462,039
Charge for year 36,844 19,005 532,858 588,707
Eliminated on disposal - - (712,701 ) (712,701 )
Reclassification/transfer 250,375 - (250,375 ) -
At 31 March 2023 329,457 87,186 921,402 1,338,045
NET BOOK VALUE
At 31 March 2023 147,383 72,727 3,182,426 3,402,536
At 31 March 2022 41,848 84,894 2,234,119 2,360,861

Included within the carrying value of tangible assets held by the group are the following amounts relating to assets held under finance leases or hire purchase agreements: Motor vehicles £1,652,190 (2022: £969,069).

The company has no tangible fixed assets.

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 April 2022 41,105
Share of profit/(loss) 34,224
Dividends received (25,000 )
At 31 March 2023 50,329
NET BOOK VALUE
At 31 March 2023 50,329
At 31 March 2022 41,105
Company
Shares in
group
undertaking
£   
COST
At 1 April 2022
and 31 March 2023 3,564,344
NET BOOK VALUE
At 31 March 2023 3,564,344
At 31 March 2022 3,564,344

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

SUBSIDIARIES

Cargo Express Holdings Limited
Registered office: C/O Dpc, Stone House, 55 Stone Road Business Park, Stoke-On-Trent, ST4 6SR.
Nature of business: Holding company
%
Class of shares: holding
Ordinary shares 100.00

Cargo Express Limited (Indirect)
Registered office: C/O Dpc, Stone House, 55 Stone Road Business Park, Stoke-On-Trent, ST4 6SR.
Nature of business: Providing logistics, warehousing and storage
%
Class of shares: holding
Ordinary shares 100.00

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. FIXED ASSET INVESTMENTS - continued

Montad Limited (Indirect)
Registered office: C/O Dpc, Stone House, 55 Stone Road Business Park, Stoke-On-Trent, ST4 6SR.
Nature of business: Provision of logistics services.
%
Class of shares: holding
Ordinary shares 95.00


13. STOCKS

Group
31.3.23 31.3.22
£    £   
Stocks 17,673 92,903

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Trade debtors 2,450,336 2,092,284 - -
Amounts owed by group undertakings - - 210,982 -
Other debtors - 690,907 - -
VAT 379,974 - - 462
Prepayments 541,673 555,950 - -
3,371,983 3,339,141 210,982 462

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Bank loans and overdrafts (see note 17) 160,728 140,026 - -
Hire purchase contracts (see note 18) 603,174 370,230 - -
Trade creditors 1,376,323 931,634 - 8,700
Amounts owed to group undertakings - - 1,901,309 1,689,799
Tax 87,979 232,099 6,591 -
Social security and other taxes 97,309 98,694 446 8,285
VAT - 224,170 2,636 -
Other creditors 105,756 87,306 - -
Directors' current accounts 538,446 902,487 536,555 900,508
Accruals and deferred income 67,544 132,971 3,188 3,880
3,037,259 3,119,617 2,450,725 2,611,172

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 18) 1,049,016 190,310

17. LOANS

An analysis of the maturity of loans is given below:

Group
31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 160,728 140,026

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 603,174 370,230
Between one and five years 1,049,016 190,310
1,652,190 560,540

Group
Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 500,000 461,875
Between one and five years 875,000 -
1,375,000 461,875

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


19. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.3.23 31.3.22
£    £   
Bank overdraft 160,728 140,026
Hire purchase contracts 1,652,190 560,540
1,812,918 700,566

The group's bankers have a fixed and floating charge covering all property or undertaking of the group.

The hire purchase liabilities are secured on the related assets.

20. PROVISIONS FOR LIABILITIES

Group
31.3.23 31.3.22
£    £   
Deferred tax
Accelerated capital allowances (169,923 ) -
Tax losses carried forward 451,522 -
Deferred tax - 205,305
281,599 205,305

Group
Deferred
tax
£   
Balance at 1 April 2022 205,305
Charge to Statement of Comprehensive Income during year 76,294
Balance at 31 March 2023 281,599

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
4,545 Ordinary A shares £0.01 45 45
4,545 Ordinary B shares £0.01 45 45
39,440 Ordinary C shares £0.01 394 101
34,340 Ordinary D shares £0.01 344 687
2,020 Ordinary E shares £0.01 20 20
5,000 Ordinary F Shares £0.01 50 -
898 898

Allotted and issued:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
5,000 Share capital 7 £0.01 50 -

On the 31st March 2023 5,000 C shares were reclassified to F shares and 34,340 D shares were reclassified to C shares.

22. RESERVES

Group
Retained
earnings
£   

At 1 April 2022 2,337,763
Profit for the year 450,583
Dividends (118,600 )
At 31 March 2023 2,669,746


23. NON-CONTROLLING INTERESTS

The minority interest represents a 5% equity shareholding in the subsidiary company, Montad Limited.

24. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements 574,500 1,807,172

O'REILLY HOLDINGS LIMITED (REGISTERED NUMBER: 11113518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


25. RELATED PARTY DISCLOSURES

During the year the group recognised sales of £1,285,768 to Cargo Contract Logistics Limited, a 50% associate and received a dividend of £25,000. At the period end £225,145 was outstanding and included within debtors and is unsecured.

During the year the following transactions took place between Cargo Express Limited and its subsidiary undertaking, Montad Limited. The company charged the subsidiary undertaking for hire of vehicles and equipment, property rental and management charges totalling £777,593 Receipts received from the subsidiary undertaking totalled £777,593. At the balance sheet date, the company was owed £281,978 by the subsidiary undertaking.

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

The key personnel of the Company are the directors. Directors' remuneration is disclosed in note 4 of the financial statements.

26. POST BALANCE SHEET EVENTS

There were no material post balance sheet events up to the date of approval of the financial statements by the Board.

27. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.