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REGISTERED NUMBER: 01028198 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

O & P CONSTRUCTION SERVICES LIMITED

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Statement of Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 19


O & P CONSTRUCTION SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S N Oxley
Mr R Marshall-Mitchell
Mr A Marshall
Mrs M E Oxley
Mr K P Foster
Ms J M Featherstone



SECRETARY: Mrs M E Oxley



REGISTERED OFFICE: Common Lane
Wath Upon Dearne
Rotherham
South Yorkshire
S63 7DX



REGISTERED NUMBER: 01028198 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Watson FCA



AUDITORS: Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their strategic report for the year ended 31 March 2024.

O&P Construction Services Limited have been established for over 50 years and carry out all aspects of construction works including newbuild, extensions, alterations and refurbishment. Contracts vary in size however, the company works predominantly with the public sector.

REVIEW OF BUSINESS
The company has continued to trade successfully this year enjoying work from both repeat and new customers. Customer base includes several NHS trusts, educational establishments, and local councils as well as clients from the private sector.

We are proud to have maintained our position on several construction frameworks including Yorbuild3 and Sheffield Teaching Hospitals NHS trust. This has provided a steady flow of work and allowed us to deliver high quality, effective construction projects whilst prioritising project profitability.

We have secured a position on the social housing Efficiency North Gen-4 Framework which has enabled us to engage with the ever expanding social housing sector, allowing us to proudly assist with the provision of affordable housing.

Our successful project completions have enabled the business to go from strength to strength, with turnover for 2024 remaining consistent with 2023's record high. Profit levels have also remained consistently high demonstrating the efficiency of the business model.

We have maintained all of our professional accreditations through our continued commitment to training and development. We remain committed to delivering high quality construction services whilst maintaining a strong safety record.


O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors take a pragmatic view with respect to risk management. The company is well managed by its Board of Directors and a prudent approach is adopted in all financial aspects.

All company policies are subject to continual assessment and review in line with changing legislation and industry guidelines.

The Directors remain mindful of cyclical trends and the overarching political backdrop of the construction industry. Inflationary pressures continue to be monitored and mitigated however the rate of inflation has recently slowed. We are mindful of the change in central Government after the general election on 4th July 2024. We are hopeful that the new government will increase public spending in the first years of office, which is likely to create further opportunities for the company.

Monthly cost meetings are held with Directors and the Senior Management team to ensure all projects are performing to target and review if any corrective action is required. This also allows us to evaluate our projects / clients and target profitable contracts accordingly.

The Directors are conscious that regular clients workloads can reduce from time to time. To mitigate this risk the company is continually striving to engage with new clients to compensate this and maintain an adequate workflow.

Quarterly management accounts are prepared and reviewed by the Board of Directors and our accounts team against financial targets and previous years to monitor overall performance.

Creditsafe checks are made against our customers and payment bonds etc utilised as necessary. As our client base is predominantly public sector we are exposed to very little financial risk.

We review our processes regularly and streamline, automate and increase the use of IT and technology wherever possible to maximise efficiency.

The company maintains strong reserves and cash balances to mitigate any risk of a downturn.


O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

FUTURE PLANS
We aim to maintain our current customer base and expand with further clients from the public sector and other sectors to broaden our opportunities. We are constantly welcoming new clients to build our client base and want to expand our service offerings to cater to customers specific needs. We continually assess both the management team and site teams to ensure sufficient numbers and quality of people to maintain quality of workmanship and service. This approach will ensure our turnover and profitability remains reliably consistent and assists with future proofing the company.

We currently have a healthy order book containing negotiated projects for repeat customers secured including a £3.5m NHS Trust project and a £9m housing scheme project. Tender opportunities remain buoyant in our sector enabling us to secure sufficient projects to maintain our workload and turnover. Forecasts and budgets show turnover and profitability in the short to medium term are planned to be maintained around the current level, and we will continue to prioritise areas such as employment skills, social value and environmental issues.

ON BEHALF OF THE BOARD:





Mr S N Oxley - Director


30 July 2024

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of new build construction, alterations, extensions and refurbishment of buildings.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 1,582,399 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr S N Oxley
Mr R Marshall-Mitchell
Mr A Marshall
Mrs M E Oxley

Other changes in directors holding office are as follows:

Mr K P Foster - appointed 1 June 2023
Ms J M Featherstone - appointed 3 May 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Gibson Booth Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr S N Oxley - Director


30 July 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O & P CONSTRUCTION SERVICES LIMITED

Opinion
We have audited the financial statements of O & P Construction Services Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O & P CONSTRUCTION SERVICES LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Comparable figures in respect of year ended 2023 are unaudited.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O & P CONSTRUCTION SERVICES LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O & P CONSTRUCTION SERVICES LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risks of acts by the company that were contrary to applicable laws and regulations, including fraud. We design audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
O & P CONSTRUCTION SERVICES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Watson FCA (Senior Statutory Auditor)
for and on behalf of Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

30 July 2024

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
(Unaudited)
Notes £    £   

TURNOVER 21,370,383 21,564,393

Cost of sales (17,615,474 ) (17,582,509 )
GROSS PROFIT 3,754,909 3,981,884

Administrative expenses (1,532,498 ) (1,229,498 )
2,222,411 2,752,386

Other operating income 11,750 7,637
OPERATING PROFIT 5 2,234,161 2,760,023

Interest receivable and similar income 6 43,118 1,063
PROFIT BEFORE TAXATION 2,277,279 2,761,086

Tax on profit 7 (575,952 ) (522,158 )
PROFIT FOR THE FINANCIAL YEAR 1,701,327 2,238,928

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,701,327

2,238,928

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 215,478 243,362
Investment property 10 - 64,397
215,478 307,759

CURRENT ASSETS
Stocks 11 2,000 2,000
Debtors 12 3,197,037 5,579,388
Cash at bank and in hand 3,051,080 1,996,354
6,250,117 7,577,742
CREDITORS
Amounts falling due within one year 13 4,206,335 5,752,948
NET CURRENT ASSETS 2,043,782 1,824,794
TOTAL ASSETS LESS CURRENT LIABILITIES 2,259,260 2,132,553

PROVISIONS FOR LIABILITIES 14 27,556 19,777
NET ASSETS 2,231,704 2,112,776

CAPITAL AND RESERVES
Called up share capital 15 500 500
Capital redemption reserve 16 1,000 1,000
Retained earnings 16 2,230,204 2,111,276
SHAREHOLDERS' FUNDS 2,231,704 2,112,776

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

BALANCE SHEET - continued
31 MARCH 2024


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





Mr S N Oxley - Director


O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 500 969,532 1,000 971,032

Changes in equity
Dividends - (1,097,184 ) - (1,097,184 )
Total comprehensive income - 2,238,928 - 2,238,928
Balance at 31 March 2023 500 2,111,276 1,000 2,112,776

Changes in equity
Dividends - (1,582,399 ) - (1,582,399 )
Total comprehensive income - 1,701,327 - 1,701,327
Balance at 31 March 2024 500 2,230,204 1,000 2,231,704

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
(Unaudited)
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,283,783 1,444,836
Tax paid (771,967 ) (269,707 )
Net cash from operating activities 2,511,816 1,175,129

Cash flows from investing activities
Purchase of tangible fixed assets (2,809 ) (171,190 )
Sale of tangible fixed assets - 50,600
Sale of investment property 85,000 -
Interest received 43,118 1,063
Net cash from investing activities 125,309 (119,527 )

Cash flows from financing activities
Equity dividends paid (1,582,399 ) (1,097,184 )
Net cash from financing activities (1,582,399 ) (1,097,184 )

Increase/(decrease) in cash and cash equivalents 1,054,726 (41,582 )
Cash and cash equivalents at beginning
of year

2

1,996,354

2,037,936

Cash and cash equivalents at end of
year

2

3,051,080

1,996,354

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.3.24 31.3.23
(Unaudited)
£    £   
Profit before taxation 2,277,279 2,761,086
Depreciation charges 30,270 35,613
Profit on disposal of fixed assets (20,180 ) (15,211 )
Finance income (43,118 ) (1,063 )
2,244,251 2,780,425
Decrease/(increase) in trade and other debtors 2,382,351 (2,909,876 )
(Decrease)/increase in trade and other creditors (1,342,819 ) 1,574,287
Cash generated from operations 3,283,783 1,444,836

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 3,051,080 1,996,354
Year ended 31 March 2023
31/3/23 1/4/22
(Unaudited)
£    £   
Cash and cash equivalents 1,996,354 2,037,936


O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank and in hand 1,996,354 1,054,726 3,051,080
1,996,354 1,054,726 3,051,080
Total 1,996,354 1,054,726 3,051,080

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

O & P Construction Services 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents amounts receivable for goods and services provided net of taxes and trade discounts.

When the outcome of a contract can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that is probable will be recovered.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is initially recognised in the financial statements at historic cost. In subsequent years, investment property is measured at fair value at each reporting date, with changes in fair value recognised in profit and loss.

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 Statement of Comprehensive Income, 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.

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.

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
(Unaudited)
£    £   
Wages and salaries 1,458,845 1,481,250
Social security costs 101,548 62,880
Other pension costs 86,135 62,338
1,646,528 1,606,468

The average number of employees during the year was as follows:
31.3.24 31.3.23
(Unaudited)

Directors and management 6 4
Administration 2 2
Site operations 25 23
33 29

4. DIRECTORS' EMOLUMENTS
31.3.24 31.3.23
(Unaudited)
£    £   
Directors' remuneration 465,489 166,091

Information regarding the highest paid director for the year ended 31 March 2024 is as follows:
31.3.24

£   
Emoluments etc 207,464

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.24 31.3.23
(Unaudited)
£    £   
Depreciation - owned assets 30,270 35,613
Profit on disposal of fixed assets (20,180 ) (15,211 )
Auditors' remuneration 17,500 -

6. INTEREST RECEIVABLE AND SIMILAR INCOME
31.3.24 31.3.23
(Unaudited)
£    £   
Interest receivable 43,118 1,063

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
(Unaudited)
£    £   
Current tax:
UK corporation tax 569,002 522,796
Over-provision of tax (829 ) (638 )
Total current tax 568,173 522,158

Deferred tax 7,779 -
Tax on profit 575,952 522,158

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
(Unaudited)
£    £   
Profit before tax 2,277,279 2,761,086
Profit multiplied by the standard rate of corporation tax in the UK
of 25% (2023 - 19%)

569,320

524,606

Effects of:
Expenses not deductible for tax purposes 1,940 2,617
Capital allowances in excess of depreciation - (1,537 )
Depreciation in excess of capital allowances 2,787 -
Adjustments to tax charge in respect of previous periods (829 ) (638 )
Profit (loss) on disposal of assets (5,045 ) (2,890 )
Deferred tax movement 7,779 -
Total tax charge 575,952 522,158

8. DIVIDENDS
31.3.24 31.3.23
(Unaudited)
£    £   
Ordinary A Shares shares of £1 each
Interim 808,999 551,584
Ordinary B Shares shares of £1 each
Interim 773,400 545,600
1,582,399 1,097,184

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 96,417 41,663 283,870 34,906 456,856
Additions - - - 2,809 2,809
Disposals - - (5,750 ) (2,988 ) (8,738 )
At 31 March 2024 96,417 41,663 278,120 34,727 450,927
DEPRECIATION
At 1 April 2023 82,386 36,661 74,218 20,229 213,494
Charge for year 2,806 1,001 22,396 4,067 30,270
Eliminated on disposal - - (5,673 ) (2,642 ) (8,315 )
At 31 March 2024 85,192 37,662 90,941 21,654 235,449
NET BOOK VALUE
At 31 March 2024 11,225 4,001 187,179 13,073 215,478
At 31 March 2023 14,031 5,002 209,652 14,677 243,362

10. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2023 64,397
Disposals (64,397 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 64,397

11. STOCKS
31.3.24 31.3.23
(Unaudited)
£    £   
Materials 2,000 2,000

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
(Unaudited)
£    £   
Trade debtors 1,362,919 4,512,190
Amounts recoverable on contract 1,702,701 958,606
Other debtors 2,255 1,945
Prepayments and accrued income 129,162 106,647
3,197,037 5,579,388

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
(Unaudited)
£    £   
Trade creditors 2,249,919 2,398,203
Corporation tax 319,002 522,796
PAYE and NIC 44,843 34,658
VAT 898,716 1,423,030
Other creditors 20,120 33,463
Directors' current accounts 61 61
Accruals 288,948 355,737
Payments on account 384,726 985,000
4,206,335 5,752,948

14. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
(Unaudited)
£    £   
Deferred tax 27,556 19,777

Deferred
tax
£   
Balance at 1 April 2023 19,777
Accelerated capital allowances 7,779
Balance at 31 March 2024 27,556

O & P CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 01028198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.21 31.3.20
value: £    £   
475 A £1 475 475
25 B £1 25 25

16. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 2,111,276 1,000 2,112,276
Profit for the year 1,701,327 1,701,327
Dividends (1,582,399 ) (1,582,399 )
At 31 March 2024 2,230,204 1,000 2,231,204

17. RELATED PARTY DISCLOSURES

During the year the company carried out work at properties owned by two of the Directors, Mr S Oxley and Mrs M Oxley, amounting to £84,271. No amounts were outstanding at the year end. Similar work was carried out during year ended 31 March 2023 amounting to £1,330.