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Registration number: 00166445

Oughtred and Harrison Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Oughtred and Harrison Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Oughtred and Harrison Limited

Company Information

Directors

G C Harrison

A W Kirkman

Registered office

Unit E
Rotterdam Park
Hull
HU7 0AN

 

Oughtred and Harrison Limited

(Registration number: 00166445)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,045

14,371

Current assets

 

Debtors

6

681,763

624,614

Cash at bank and in hand

 

89,735

182,432

 

771,498

807,046

Creditors: Amounts falling due within one year

7

(106,371)

(77,580)

Net current assets

 

665,127

729,466

Total assets less current liabilities

 

671,172

743,837

Creditors: Amounts falling due after more than one year

7

(29,615)

(34,854)

Net assets

 

641,557

708,983

Capital and reserves

 

Called up share capital

43,660

43,660

Share premium reserve

8,100

8,100

Capital redemption reserve

5,380

5,380

Retained earnings

584,417

651,843

Shareholders' funds

 

641,557

708,983

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2024 and signed on its behalf by:
 

.........................................
A W Kirkman
Director

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 00166445.

The address of its registered office is:
Unit E
Rotterdam Park
Hull
HU7 0AN
England

These financial statements were authorised for issue by the Board on 29 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

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. .

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of IT support and archival services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 ofdeferred 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for the provision of IT services and archival services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2023 - 5).

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Website costs £

Total
£

Cost or valuation

At 1 May 2023

11,080

11,080

At 30 April 2024

11,080

11,080

Amortisation

At 1 May 2023

11,080

11,080

At 30 April 2024

11,080

11,080

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

321,137

260,032

1,536

582,705

Additions

845

-

-

845

At 30 April 2024

321,982

260,032

1,536

583,550

Depreciation

At 1 May 2023

313,954

252,844

1,536

568,334

Charge for the year

3,854

5,317

-

9,171

At 30 April 2024

317,808

258,161

1,536

577,505

Carrying amount

At 30 April 2024

4,174

1,871

-

6,045

At 30 April 2023

7,183

7,188

-

14,371

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

108,057

70,364

Amounts owed by related parties

10

511,928

511,928

Other debtors

 

6,219

18,128

Prepayments

 

47,478

13,558

Deferred tax assets

8,081

10,636

 

681,763

624,614

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,692

6,210

Trade creditors

 

45,741

10,627

Taxation and social security

 

31,736

53,102

Accruals and deferred income

 

5,975

7,213

Other creditors

 

566

428

Other borrowings

8

16,661

-

 

106,371

77,580

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

29,615

34,854

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,692

6,210

Other borrowings

16,661

-

22,353

6,210

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

29,615

34,854

The bank borrowings relate to a business bounce back loan, and are therefore, unsecured.

Other borrowings relate to an unsecured directors loan account.

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

A total of £6,846 is due after five years, relating to the business bounce back loan.

 

Oughtred and Harrison Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £123,500 (2023 - £180,500).

10

Related party transactions

Other transactions with Directors

At the year end, the company owed the directors £16,661 (2023: The directors owed the company £18,128). This amount is unsecured, interest free and repayable on demand.

11

Parent and ultimate parent undertaking

The Company's immediate parent is Oughtred and Harrison Group Limited, incorporated in England and Wales.

 The ultimate parent is OHG Acquisitions Limited, incorporated in England and Wales.

  These financial statements are available upon request from Unit E, Rotterdam Park, Hull, HU7 0AN.