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Registered number: 07986647










ON LINE SUPPORT PERSONNEL LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ON LINE SUPPORT PERSONNEL LIMITED
REGISTERED NUMBER: 07986647

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,688,950
1,732,949

Investment property
 5 
1,674,848
1,674,848

  
3,363,798
3,407,797

Current assets
  

Stocks
  
40,894
-

Debtors: amounts falling due within one year
 6 
1,489,919
1,460,992

Cash at bank and in hand
  
150
790

  
1,530,963
1,461,782

Creditors: amounts falling due within one year
 7 
(3,672,699)
(3,718,345)

Net current liabilities
  
 
 
(2,141,736)
 
 
(2,256,563)

Total assets less current liabilities
  
1,222,062
1,151,234

Provisions for liabilities
  

Deferred tax
 8 
(65,194)
(69,466)

Net assets
  
1,156,868
1,081,768


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
1,146,868
1,071,768

  
1,156,868
1,081,768


Page 1

 
ON LINE SUPPORT PERSONNEL LIMITED
REGISTERED NUMBER: 07986647
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 August 2024.


S Laird
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

On Line Support Personnel Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 07986647). Its registered office is On Line House, Pelham Road, Immingham, North East Lincolnshire, DN40 1AB. The principal activity of the Company throughout the year continued to be that of a management company for the Group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.


The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The Company's functional and presentational currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Land and buildings
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







20
22


4.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
1,431,769
11,040
196,102
891,031
2,529,942


Additions
-
-
15,198
175,234
190,432


Disposals
-
-
(3,603)
-
(3,603)



At 31 March 2024

1,431,769
11,040
207,697
1,066,265
2,716,771



Depreciation


At 1 April 2023
91,675
10,210
139,701
555,407
796,993


Charge for the year on owned assets
54,127
207
15,050
164,097
233,481


Disposals
-
-
(2,653)
-
(2,653)



At 31 March 2024

145,802
10,417
152,098
719,504
1,027,821



Net book value



At 31 March 2024
1,285,967
623
55,599
346,761
1,688,950



At 31 March 2023
1,340,094
830
56,401
335,624
1,732,949

Page 6

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,674,848



At 31 March 2024
1,674,848

The investment property was revalued at January 2023 by PPH Commercial, independent valuers not connected with the company, on the basis of market value. The directors have concluded that this value remains appropriate at the reporting date.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,754,966
1,754,966

Accumulated depreciation and impairments
(115,217)
(80,118)

1,639,749
1,674,848


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
1,343,068
1,363,284

Other debtors
-
100

Prepayments and accrued income
146,851
97,608

1,489,919
1,460,992


Page 7

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
7,744
213,221

Trade creditors
111,025
127,461

Amounts owed to group undertakings
2,742,586
2,946,977

Other taxation and social security
126,628
119,710

Other creditors
644,879
284,180

Accruals and deferred income
39,837
26,796

3,672,699
3,718,345



8.


Deferred taxation




2024


£






At beginning of year
69,466


Utilised in year
(4,272)



At end of year
65,194

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
69,466
69,726

Changes in provisions leading to a decrease in tax charge
(4,272)
(260)

65,194
69,466


No deferred tax asset has been recognised in respect of tax losses totalling £50,238 (2023: £241,898) carried forward at 31 March 2024 as these are not considered to meet the appropriate recognition criteria.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £26,690 (2023: £38,526). Contributions totalling £6,658 (2023: £2,421) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
ON LINE SUPPORT PERSONNEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.Other financial commitments

The Company is subject to a fixed and floating charge over all assets of the Company, providing a cross guarantee against an overdraft held in another group company. The value of the potential liability is subject to variation depending on the amount of overdraft being utilised.


11.


Related party transactions

The Company has taken advantage of the exemption available in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is party to the transaction is wholly owned by the Group.

In respect of other companies within the Group that are not wholly owned, the Company made sales of £7,640 (2023: £8,736) and purchases of £50,384 (2023: £58,861). At the year end the Company owed £201,335 (2023: £159,387) to this entity. At the year end the Company was owed £12,334 (2023: £nil) from this entity.

In addition, at the year end there are balances owed by directors totalling £638,221 (2023: £281,757). Interest is charged on these directors' loans and they have no fixed terms for repayment.


12.


Controlling party

The ultimate parent is On Line Group Limited, a Company incorporated in England and Wales, by virtue of its 100% shareholding in the Company. 
On Line Group Limited is the largest and smallest Group of undertakings for which group accounts are drawn up and of which the Company is a member. The consolidated financial statements for On Line Group Limited can be obtained from their registered office or Companies House. 




13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 13 August 2024 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts.

 
Page 9