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REGISTERED NUMBER: 06001850 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

OWL MOTOR SERVICES LTD

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


OWL MOTOR SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr J H Skerratt
Mr R Skerratt





SECRETARY: Mrs C P Skerratt





REGISTERED OFFICE: Owl Motor Services
Unit 2
Richmond Road
Southsea
PO5 2LN





REGISTERED NUMBER: 06001850 (England and Wales)





ACCOUNTANTS: Garbetts (IOW) Limited
Exchange House
St Cross Lane
Newport
Isle of Wight
PO30 5BZ

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,012 158,142

CURRENT ASSETS
Stocks 7,702 10,290
Debtors 5 21,839 24,240
Cash at bank and in hand 32,721 16,784
62,262 51,314
CREDITORS
Amounts falling due within one year 6 112,146 120,137
NET CURRENT LIABILITIES (49,884 ) (68,823 )
TOTAL ASSETS LESS CURRENT LIABILITIES 119,128 89,319

PROVISIONS FOR LIABILITIES 30,194 26,905
NET ASSETS 88,934 62,414

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 43,004 33,962
Retained earnings 45,830 28,352
SHAREHOLDERS' FUNDS 88,934 62,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





Mr J H Skerratt - Director


OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Owl Motor Services Ltd 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Included within plant and machinery are motor vehicles, a class of asset that the directors have determined will be included in the accounts at valuation.

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or loss on a straight line basis over the period of the lease.

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 October 2022 214,841
Additions 23,322
Revaluations (3,115 )
At 30 September 2023 235,048
DEPRECIATION
At 1 October 2022 56,699
Charge for year 30,954
Revaluation adjustments (21,617 )
At 30 September 2023 66,036
NET BOOK VALUE
At 30 September 2023 169,012
At 30 September 2022 158,142

Cost or valuation at 30 September 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2016 1,466
Valuation in 2017 (5,613 )
Valuation in 2018 1,521
Valuation in 2019 (2,000 )
Valuation in 2020 (7,834 )
Valuation in 2021 17,685
Valuation in 2022 (8,500 )
Valuation in 2023 (3,116 )
Cost 241,439
235,048

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

If motor vehicles had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 147,391 141,775
Aggregate depreciation 87,908 96,571

Motor vehicles were valued on an open market basis on 30 September 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,594 12,273
Amounts recoverable on contract 4,894 11,034
Other debtors 351 933
21,839 24,240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 36,439 47,342
Taxation and social security 23,486 3,554
Other creditors 52,221 69,241
112,146 120,137

7. RESERVES
Revaluation
reserve
£   
At 1 October 2022 33,962
Revaluation 18,501
Transfer (9,459 )

At 30 September 2023 43,004