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REGISTERED NUMBER: 08713395 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

O'CONNELL BUILDING CONTRACTORS LTD

O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


O'CONNELL BUILDING CONTRACTORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mr D P O'Connell





REGISTERED OFFICE: 2 Mountside
Stanmore
Middlesex
HA7 2DT





REGISTERED NUMBER: 08713395 (England and Wales)





ACCOUNTANTS: Mountsides Limited
Chartered Accountants
2 Mountside
Stanmore
Middlesex
HA7 2DT

O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

ABRIDGED BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 745,775 356,660

CURRENT ASSETS
Debtors 511,463 730,828
Cash at bank 805,729 36,720
1,317,192 767,548
CREDITORS
Amounts falling due within one year (614,886 ) (503,313 )
NET CURRENT ASSETS 702,306 264,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,448,081

620,895

CREDITORS
Amounts falling due after more than one
year

(1,048,326

)

(192,872

)

PROVISIONS FOR LIABILITIES (145,146 ) (62,158 )
NET ASSETS 254,609 365,865

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 254,509 365,765
SHAREHOLDERS' FUNDS 254,609 365,865

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 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.

O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:





Mr D P O'Connell - Director


O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

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


1. STATUTORY INFORMATION

O'Connell Building Contractors 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.

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.

TURNOVER
Turnover represents the invoiced sales of services, excluding value added tax.

Turnover has also been recognised in respect of on-going services, with the value of work completed but unbilled at the balance sheet date being taken to turnover and the associated costs, where not invoiced at the date, being accrued for.

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.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - at varying rates on cost

GOVERNMENT GRANTS
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement.

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.


O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

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


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 987,676
Additions 647,214
Disposals (143,425 )
At 31 October 2023 1,491,465
DEPRECIATION
At 1 November 2022 631,016
Charge for year 182,845
Eliminated on disposal (68,171 )
At 31 October 2023 745,690
NET BOOK VALUE
At 31 October 2023 745,775
At 31 October 2022 356,660

O'CONNELL BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 08713395)

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


5. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
At 1 November 2022 509,060
Additions 604,666
Disposals (130,075 )
Transfer to ownership (118,085 )
At 31 October 2023 865,566
DEPRECIATION
At 1 November 2022 193,391
Charge for year 154,992
Eliminated on disposal (56,210 )
Transfer to ownership (111,037 )
At 31 October 2023 181,136
NET BOOK VALUE
At 31 October 2023 684,430
At 31 October 2022 315,669

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 621,794 257,906

Obligations under hire purchase contracts are secured on the respective assets.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary undertaking of Nippercove Limited, a company incorporated in Ireland.

The ultimate controlling party is Mr D P O'Connell.