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REGISTERED NUMBER: 02157369 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

OVERHEAD LINE FITTINGS (U.K.) LIMITED

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OVERHEAD LINE FITTINGS (U.K.) LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: Arthur William Henton
Mrs Karen Lesley Henton
Aaron G T Henton
Miss Emily Harriet Henton





REGISTERED OFFICE: Wood Lane
Norton-Juxta-Twycross
Twycross
Atherstone
Warwickshire
CV9 3QB





REGISTERED NUMBER: 02157369 (England and Wales)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

BALANCE SHEET
31 October 2023

31.10.22 31.10.23
£    £    Notes £    £   
FIXED ASSETS
39,990 Tangible assets 5 91,923

CURRENT ASSETS
1,082,219 Stocks 6 1,417,903
556,117 Debtors 7 181,532
285,945 Cash at bank and in hand 522,514
1,924,281 2,121,949
CREDITORS
493,359 Amounts falling due within one year 8 601,895
1,430,922 NET CURRENT ASSETS 1,520,054
1,470,912 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,611,977

CREDITORS
(26,615 ) Amounts falling due after more than one
year

9

(16,767

)

(2,376 ) PROVISIONS FOR LIABILITIES 11 (14,905 )
1,441,921 NET ASSETS 1,580,305

CAPITAL AND RESERVES
5,000 Called up share capital 12 5,000
1,436,921 Retained earnings 1,575,305
1,441,921 SHAREHOLDERS' FUNDS 1,580,305

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

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

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

BALANCE SHEET - continued
31 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Arthur William Henton - Director


OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Overhead Line Fittings (U.K.) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the total invoice value, less credit notes, excluding value added tax of sales made during the period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

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.
Fixtures & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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, if any.

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks consist of goods for resale and are valued at the lower of purchase cost and estimated selling price less costs to sell, after making due allowances for obsolete and slow moving items.

When stocks are sold, the carrying amount of these stock is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

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 all 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. 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 which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand as well as deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures Motor Computer
Totals & equipment vehicles equipment
£    £    £    £   
COST
At 1 November 2022 210,712 134,565 52,255 23,892
Additions 75,738 75,738 - -
At 31 October 2023 286,450 210,303 52,255 23,892
DEPRECIATION
At 1 November 2022 170,722 99,907 48,331 22,484
Charge for year 23,805 22,079 981 745
At 31 October 2023 194,527 121,986 49,312 23,229
NET BOOK VALUE
At 31 October 2023 91,923 88,317 2,943 663
At 31 October 2022 39,990 34,658 3,924 1,408

6. STOCKS
31.10.23 31.10.22
£    £   
Goods for resale 1,417,903 1,082,219

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 118,306 454,082
Other debtors 63,226 102,035
181,532 556,117

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 9,849 9,849
Trade creditors 266,328 193,474
Taxation and social security 64,005 29,351
Other creditors 261,713 260,685
601,895 493,359

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 16,767 26,615

OVERHEAD LINE FITTINGS (U.K.) LIMITED (REGISTERED NUMBER: 02157369)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

10. SECURED DEBTS

Bank borrowing is secured by:-
- a debenture over the company's assets
- a fixed and floating charge over the company's assets
- a personal guarantee from the director Arthur Henton limited to £25,000
- an unlimited cross guarantee from A.A. Henton & Son (Steel Fabrications) Limited

11. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 14,905 2,376

Deferred
tax
£   
Balance at 1 November 2022 2,376
Movement in provision 12,529
Balance at 31 October 2023 14,905

This is in respect of accelerated capital allowances.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
5,000 Ordinary £1 5,000 5,000

13. ULTIMATE CONTROLLING PARTY

The director Arthur W Henton controls the company indirectly as a result of having a controlling interest in the issued ordinary share capital of the parent company.

The immediate and ultimate parent of the company is Jenner Holdings Ltd, a company registered in England whose registered office is 12 Wood Lane,Norton Juxta Twycross, Atherstone, Warwickshire CV9 3QB.