The Oliver Searle Partnership Limited Filleted Accounts Cover
The Oliver Searle Partnership Limited
Company No. 03923448
Information for Filing with The Registrar
For the year ended
30 April 2023
The Oliver Searle Partnership Limited Balance Sheet Registrar
at
30 April 2023
Company No.
03923448
Notes
2023
2022
£
£
Fixed assets
Intangible assets
4
--
Tangible assets
5
2,9942,841
2,9942,841
Current assets
Debtors
6
54,97931,856
Cash at bank and in hand
245,842245,675
300,821277,531
Creditors: Amount falling due within one year
7
(26,515)
(43,422)
Net current assets
274,306234,109
Total assets less current liabilities
277,300236,950
Provisions for liabilities
Deferred taxation
(308)
(319)
Net assets
276,992236,631
Capital and reserves
Called up share capital
9
100100
Profit and loss account
10
276,892236,531
Total equity
276,992236,631
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 10 October 2023
And signed on its behalf by:
R.J. Stevens
T.O. Stevens
Director
Director
10 October 2023
10 October 2023
The Oliver Searle Partnership Limited Notes to the Accounts Registrar
for the year ended 30 April 2023
1
General information
Its registered number is: 03923448
Its registered office is:
Unit 11, Riverside Park
Industrial Estate
Dogflud Way, Farnham
Surrey
GU9 7UG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2
Accounting policies
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
> the amount of revenue can be measured reliably;
> it is probable that the Company will receive the consideration due under the contract;
> the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
> the costs incurred and the costs to complete the contract can be measured reliably.
Intangible fixed assets
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and
the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the
date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to
the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated impairment
losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life
cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
50 and 25% Reducing balance
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Interest Income
The Interest income is recognised in the Profit and Loss Account using the effective interest method.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at the Annual General Meeting.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
1216
4
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 May 2022
1002,143,8802,143,980
At 30 April 2023
1002,143,8802,143,980
Amortisation and impairment
At 1 May 2022
1002,143,8802,143,980
At 30 April 2023
1002,143,8802,143,980
Net book values
At 30 April 2023
---
At 30 April 2022
---
5
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 May 2022
9,4729,472
Additions
3,2073,207
Disposals
(295)
(295)
At 30 April 2023
12,38412,384
Depreciation
At 1 May 2022
6,6316,631
Charge for the year
2,8882,888
Disposals
(129)
(129)
At 30 April 2023
9,3909,390
Net book values
At 30 April 2023
2,9942,994
At 30 April 2022
2,841
2,841
6
Debtors
2023
2022
£
£
Trade debtors
-5,609
Amounts owed by group undertakings
19,24319,508
Loans to directors
1,2002,210
Other debtors
1,0001,000
Prepayments and accrued income
33,5363,529
54,97931,856
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Trade creditors
4,498240
Taxes and social security
16,319
38,140
Loans from directors
740-
Other creditors
2,2662,275
Accruals and deferred income
2,6922,767
26,51543,422
8
Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,221 (2022: £19,021) in the year. Contributions of £1,757 (2022: £2,276) were payable at the balance sheet date.
9
Share Capital
Share capital includes following:
2023
2022
£
£
100 ordinary shares of £1 each
100
100
100
100
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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