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REGISTERED NUMBER: 04550401 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OASTHOUSE ENGINEERING LIMITED

OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OASTHOUSE ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr K N Morris



SECRETARY: Mrs D Morris



REGISTERED OFFICE: 352 Burncross Road
Burncross
Chapeltown
Sheffield
S35 1SJ



REGISTERED NUMBER: 04550401 (England and Wales)



ACCOUNTANTS: Reed Smith Accountancy Limited
Chartered Certified Accountants
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



BANKERS: Barclays Bank Plc
10-12 Pinstone Street
Sheffield
S1 2HN

OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,175,689 3,683,089
Investments 5 232 272
3,175,921 3,683,361

CURRENT ASSETS
Inventories 552,359 404,548
Debtors 6 279,342 290,632
Cash at bank and in hand 217,296 360,922
1,048,997 1,056,102
CREDITORS
Amounts falling due within one year 7 1,320,740 1,278,564
NET CURRENT LIABILITIES (271,743 ) (222,462 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,904,178

3,460,899

CREDITORS
Amounts falling due after more than one
year

8

(1,546,433

)

(1,937,240

)

PROVISIONS FOR LIABILITIES (176,450 ) (292,042 )
NET ASSETS 1,181,295 1,231,617

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,181,195 1,231,517
SHAREHOLDERS' FUNDS 1,181,295 1,231,617

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 July 2024 and were signed by:





Mr K N Morris - Director


OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Oasthouse Engineering Limited 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
Revenue 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost and Straight line over 10 years
Plant and machinery etc - Straight line over 10 years, Straight line over 5 years, Straight line over 4 years and Straight line over 3 years

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

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

2. ACCOUNTING POLICIES - continued

Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 21 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 938,981 3,333,169 4,272,150
Additions 13,253 135,502 148,755
Disposals - (49,645 ) (49,645 )
At 31 December 2023 952,234 3,419,026 4,371,260
DEPRECIATION
At 1 January 2023 101,126 487,935 589,061
Charge for year 20,892 600,918 621,810
Eliminated on disposal - (15,300 ) (15,300 )
At 31 December 2023 122,018 1,073,553 1,195,571
NET BOOK VALUE
At 31 December 2023 830,216 2,345,473 3,175,689
At 31 December 2022 837,855 2,845,234 3,683,089

OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

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

4. PROPERTY, PLANT AND EQUIPMENT - continued

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

Plant and
machinery
etc
£   
COST
At 1 January 2023 2,812,377
Additions 109,683
Disposals (12,495 )
Transfer to ownership (10,000 )
Reclassification/transfer 51,000
At 31 December 2023 2,950,565
DEPRECIATION
At 1 January 2023 183,576
Charge for year 560,346
Transfer to ownership (10,000 )
Reclassification/transfer 850
At 31 December 2023 734,772
NET BOOK VALUE
At 31 December 2023 2,215,793
At 31 December 2022 2,628,801

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 272
Impairments (40 )
At 31 December 2023 232
NET BOOK VALUE
At 31 December 2023 232
At 31 December 2022 272

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,454 209,043
Other debtors 104,888 81,589
279,342 290,632

OASTHOUSE ENGINEERING LIMITED (REGISTERED NUMBER: 04550401)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,282 14,344
Hire purchase contracts and finance leases 449,966 391,841
Trade creditors 573,461 661,441
Taxation and social security 93,153 70,020
Other creditors 185,878 140,918
1,320,740 1,278,564

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 220,951 239,725
Hire purchase contracts and finance leases 1,325,482 1,697,515
1,546,433 1,937,240

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 129,579 170,297

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 239,233 254,069
Hire purchase contracts and finance leases 1,775,448 2,089,356
2,014,681 2,343,425

The bank loan is secured by a legal charge over the company's freehold property.

The obligations under hire purchase contracts and finance leases are secured against the items of plant and machinery etc to which they relate together with legal charges over the company's freehold property.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr K N Morris.