Silverfin false 30/04/2023 01/05/2022 30/04/2023 J A O'Hara 29/04/2006 A N O'Hara 13/05/2019 N O'Hara 13/05/2019 N P O'Hara 29/04/2006 30 October 2023 The principal activity of the Company during the financial year is that of funeral directors. 05801188 2023-04-30 05801188 bus:Director1 2023-04-30 05801188 bus:Director2 2023-04-30 05801188 bus:Director3 2023-04-30 05801188 bus:Director4 2023-04-30 05801188 2022-04-30 05801188 core:CurrentFinancialInstruments 2023-04-30 05801188 core:CurrentFinancialInstruments 2022-04-30 05801188 core:Non-currentFinancialInstruments 2023-04-30 05801188 core:Non-currentFinancialInstruments 2022-04-30 05801188 core:ShareCapital 2023-04-30 05801188 core:ShareCapital 2022-04-30 05801188 core:RetainedEarningsAccumulatedLosses 2023-04-30 05801188 core:RetainedEarningsAccumulatedLosses 2022-04-30 05801188 core:Goodwill 2022-04-30 05801188 core:Goodwill 2023-04-30 05801188 core:LandBuildings 2022-04-30 05801188 core:LeaseholdImprovements 2022-04-30 05801188 core:Vehicles 2022-04-30 05801188 core:FurnitureFittings 2022-04-30 05801188 core:OfficeEquipment 2022-04-30 05801188 core:LandBuildings 2023-04-30 05801188 core:LeaseholdImprovements 2023-04-30 05801188 core:Vehicles 2023-04-30 05801188 core:FurnitureFittings 2023-04-30 05801188 core:OfficeEquipment 2023-04-30 05801188 core:CurrentFinancialInstruments core:Secured 2023-04-30 05801188 core:Non-currentFinancialInstruments core:Secured 2023-04-30 05801188 2022-05-01 2023-04-30 05801188 bus:FullAccounts 2022-05-01 2023-04-30 05801188 bus:SmallEntities 2022-05-01 2023-04-30 05801188 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05801188 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05801188 bus:Director1 2022-05-01 2023-04-30 05801188 bus:Director2 2022-05-01 2023-04-30 05801188 bus:Director3 2022-05-01 2023-04-30 05801188 bus:Director4 2022-05-01 2023-04-30 05801188 core:Goodwill core:TopRangeValue 2022-05-01 2023-04-30 05801188 core:Goodwill 2022-05-01 2023-04-30 05801188 core:LeaseholdImprovements core:TopRangeValue 2022-05-01 2023-04-30 05801188 core:Vehicles core:TopRangeValue 2022-05-01 2023-04-30 05801188 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 05801188 core:OfficeEquipment 2022-05-01 2023-04-30 05801188 2021-05-01 2022-04-30 05801188 core:LandBuildings 2022-05-01 2023-04-30 05801188 core:LeaseholdImprovements 2022-05-01 2023-04-30 05801188 core:Vehicles 2022-05-01 2023-04-30 05801188 core:FurnitureFittings 2022-05-01 2023-04-30 05801188 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 05801188 (England and Wales)

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

BALANCE SHEET

As at 30 April 2023
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Intangible assets 4 227,558 0
Tangible assets 5 1,515,304 1,495,853
1,742,862 1,495,853
Current assets
Stocks 6 30,000 9,575
Debtors 7 347,888 214,649
Cash at bank and in hand 1,956 111,893
379,844 336,117
Creditors: amounts falling due within one year 8 ( 620,553) ( 446,929)
Net current liabilities (240,709) (110,812)
Total assets less current liabilities 1,502,153 1,385,041
Creditors: amounts falling due after more than one year 9 ( 1,163,467) ( 1,036,789)
Provision for liabilities ( 36,771) ( 47,018)
Net assets 301,915 301,234
Capital and reserves
Called-up share capital 10,000 10,000
Profit and loss account 291,915 291,234
Total shareholders' funds 301,915 301,234

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Nicholas O'Hara Funeral Directors Limited (registered number: 05801188) were approved and authorised for issue by the Board of Directors on 30 October 2023. They were signed on its behalf by:

N P O'Hara
Director
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nicholas O'Hara Funeral Directors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 38 Rowlands Hill, Wimborne, Dorset, BH21 1AW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Prior year adjustment

A prior period adjustment of £82,392 has been made affecting the other taxation and social security creditor and the profit and loss account. The resulting effect is that corporation tax for the year ended 30 April 2022 is £15,654 lower than previously reported and profit for the year is £66,738 lower than previously reported.

As previously reported Adjustment As restated
Year ended 30 April 2022 £ £ £
Other taxation and social security (41,196) 82,392 41,196
Corporation tax 79,827 (15,654) 64,173
Profit for the financial year 283,240 (66,738) 216,502

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 31 24

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 650,000 650,000
Additions 235,405 235,405
At 30 April 2023 885,405 885,405
Accumulated amortisation
At 01 May 2022 650,000 650,000
Charge for the financial year 7,847 7,847
At 30 April 2023 657,847 657,847
Net book value
At 30 April 2023 227,558 227,558
At 30 April 2022 0 0

5. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2022 1,218,726 154,771 661,605 276,089 1,800 2,312,991
Additions 0 71,401 58,995 27,223 0 157,619
At 30 April 2023 1,218,726 226,172 720,600 303,312 1,800 2,470,610
Accumulated depreciation
At 01 May 2022 2,116 138,114 442,696 234,024 188 817,138
Charge for the financial year 0 12,458 114,371 10,936 403 138,168
At 30 April 2023 2,116 150,572 557,067 244,960 591 955,306
Net book value
At 30 April 2023 1,216,610 75,600 163,533 58,352 1,209 1,515,304
At 30 April 2022 1,216,610 16,657 218,909 42,065 1,612 1,495,853

6. Stocks

2023 2022
£ £
Stocks 30,000 9,575

7. Debtors

2023 2022
£ £
Trade debtors 144,319 108,106
Other debtors 203,569 106,543
347,888 214,649

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured £ 57,600) 165,776 100,401
Trade creditors 272,956 76,690
Corporation tax 37,775 64,173
Other taxation and social security 9,536 41,196
Obligations under finance leases and hire purchase contracts (secured) 58,868 66,443
Other creditors 75,642 98,026
620,553 446,929

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured £ 929,208) 953,374 925,751
Obligations under finance leases and hire purchase contracts (secured) 110,787 111,038
Other creditors 99,306 0
1,163,467 1,036,789

Bank loans are secured on the freehold property with a carrying value of £1,216,610 (2022: £1,216,610) by way of a fixed charge. Hire purchase contracts are secured on the assets to which they relate.

10. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
finance leases entered into 463,500 224,417

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Advanced to directors 49,683 0