Registration number: 00166445

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