REGISTERED NUMBER: |
O'BRIEN DEVELOPMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
O'BRIEN DEVELOPMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
O'BRIEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07585229) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
O'BRIEN DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Celixir House |
Stratford Business and Technology Park |
Stratford-upon-Avon |
Warwickshire |
CV37 7GZ |
O'BRIEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07585229) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks and work in progress |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
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 |
O'BRIEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07585229) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
O'Brien Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of preparing the financial statements |
These financial statements have been prepared on a going concern basis, under the historical cost convention. |
Functional currency |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements have been rounded to the neared £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition. |
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 statement of financial position date. |
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. |
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. |
O'BRIEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07585229) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts due from related |
companies | 1,651,741 | 1,631,741 |
VAT |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation |
Social security and other taxes |
Other creditors |
Accruals | 6,000 | 23,349 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | CONTINGENT LIABILITIES |
On 22 December 2022, the company entered into a performance guarantee bond in favour of Warwickshire County Council of £25,209. |
8. | RELATED PARTY DISCLOSURES |
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. |
O'BRIEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07585229) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | RELATED PARTY DISCLOSURES - continued |
The following companies are related by virtue of common control by the directors. |
2023 | 2023 | 2022 | 2022 |
Profit | Profit |
& Loss | Balance | & Loss | Balance |
Income / | Sheet Asset / | Income / | Sheet Asset / |
(Expense £ | ) | (Liability £ | ) | (Expense £ | ) | (Liability £ | ) |
O'Brien Contractors Limited | (986,577 | ) | (911,746 | ) | - | 1,793 |
O'Brien Developments Dartmouth Waterside Limited |
- |
1,588,764 |
- |
1,568,764 |
Southam Developments Limited | - | 62,977 | - | 62,715 |
The following companies are related by virtue of common control by the directors. |
9. | ULTIMATE CONTROLLING PARTY |
O'Brien Developments Limited is a 100% subsidiary of O'Brien (Group) Limited, which is the immediate parent company, whose registered office is Celixir House, Stratford Business and Technology Park, Stratford-Upon-Avon, Warwickshire, CV37 7GZ. |
The parent undertaking for which group accounts are prepared for the year ended 31 March 2023 is O'Brien Holdings 2020 Limited whose registered office is Manor Cottage, Church Lane, Cubbington, Leamington Spa, United Kingdom, CV32 7JT. |