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REGISTERED NUMBER: 11035815 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

OBS RECOVERY LTD

OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OBS RECOVERY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: P J Harold
J Hodgson





REGISTERED OFFICE: Office 2
Lythgoe House
Manchester Road
Bolton
Lancashire
BL3 2NZ





REGISTERED NUMBER: 11035815 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

BALANCE SHEET
31ST OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,322 25,803

CURRENT ASSETS
Debtors 5 65,584 69,493
Cash at bank 14,417 9,886
80,001 79,379
CREDITORS
Amounts falling due within one year 6 63,088 59,580
NET CURRENT ASSETS 16,913 19,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,235

45,602

CREDITORS
Amounts falling due after more than one
year

7

50,596

40,659
NET ASSETS 10,639 4,943

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings 10,389 4,693
10,639 4,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

BALANCE SHEET - continued
31ST OCTOBER 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 18th March 2024 and were signed on its behalf by:




P J Harold - Director



J Hodgson - Director


OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

OBS Recovery 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.

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

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2022 41,422
Additions 51,843
Disposals (34,691 )
At 31st October 2023 58,574
DEPRECIATION
At 1st November 2022 15,619
Charge for year 10,559
Eliminated on disposal (11,926 )
At 31st October 2023 14,252
NET BOOK VALUE
At 31st October 2023 44,322
At 31st October 2022 25,803

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st November 2022 34,691
Additions 50,610
Disposals (34,691 )
At 31st October 2023 50,610
DEPRECIATION
At 1st November 2022 11,926
Charge for year 9,489
Eliminated on disposal (11,926 )
At 31st October 2023 9,489
NET BOOK VALUE
At 31st October 2023 41,121
At 31st October 2022 22,765

OBS RECOVERY LTD (REGISTERED NUMBER: 11035815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 54,539 61,561
Other debtors 11,045 7,932
65,584 69,493

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 9,715 8,420
Taxation and social security 36,196 36,642
Other creditors 7,177 4,518
63,088 59,580

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,833 25,833
Hire purchase contracts 34,763 14,826
50,596 40,659

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 44,478 23,246

Hire purchase contracts are secured on the assets to which they relate.