Registered number
11346492
OP Construction Ltd
Filleted Accounts
31 May 2024
OP Construction Ltd
Registered number: 11346492
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,759 2,101
Current assets
Debtors 4 10,080 972
Cash at bank and in hand 11,532 38,411
21,612 39,383
Creditors: amounts falling due within one year 5 (13,400) (20,096)
Net current assets 8,212 19,287
Total assets less current liabilities 9,971 21,388
Creditors: amounts falling due after more than one year 6 (1,600) (3,200)
Provisions for liabilities (335) (400)
Net assets 8,036 17,788
Capital and reserves
Called up share capital 1 1
Profit and loss account 8,035 17,787
Shareholder's funds 8,036 17,788
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O Pugsley
Director
Approved by the board on 10 September 2024
OP Construction Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Office Equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 3,325 837 4,162
Additions 670 - 670
At 31 May 2024 3,995 837 4,832
Depreciation
At 1 June 2023 1,503 558 2,061
Charge for the year 733 279 1,012
At 31 May 2024 2,236 837 3,073
Net book value
At 31 May 2024 1,759 - 1,759
At 31 May 2023 1,822 279 2,101
4 Debtors 2024 2023
£ £
Trade debtors 9,191 -
Other debtors 889 972
10,080 972
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,600 1,600
Trade creditors 248 1,411
Taxation and social security costs 6,941 17,032
Other creditors 4,611 53
13,400 20,096
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,600 3,200
7 Related party transactions
Included within other creditors is the amount of £80 (2023 - £53) owed to the director. This amount is undated, unsecured, interest free & repayable upon demand.
8 Controlling party
The controlling party is Mr O Pugsley, as the director & shareholder.
9 Other information
OP Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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