REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
OURCO (HOLDINGS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
OURCO (HOLDINGS) LIMITED |
OURCO (HOLDINGS) LIMITED (REGISTERED NUMBER: 04713392) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
OURCO (HOLDINGS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ground Floor Oakhurst House |
77 Mount Ephraim |
Tunbridge Wells |
Kent |
TN4 8BS |
OURCO (HOLDINGS) LIMITED (REGISTERED NUMBER: 04713392) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
OURCO (HOLDINGS) LIMITED (REGISTERED NUMBER: 04713392) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Ourco (Holdings) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue represents a partnership profit share received from membership of an LLP. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 that have been enacted or substantively enacted by the statement of financial position date. |
Going concern |
The financial statements for the year ended 31 March 2024 have been prepared on a going concern basis albeit due to the post balance sheet cessation of trade, adjustments have been made where necessary to reflect the assets and liabilities at their net realisable/settlement values. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 April 2023 | 2,914,224 |
Disposals | ( |
) | (28,460 | ) |
Share of profit/(loss) | - | 16,960 | 16,960 |
At 31 March 2024 | 2,902,724 |
NET BOOK VALUE |
At 31 March 2024 | 2,902,724 |
At 31 March 2023 | 2,914,224 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Tax |
Other creditors |
Accrued expenses |
OURCO (HOLDINGS) LIMITED (REGISTERED NUMBER: 04713392) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | RELATED PARTY DISCLOSURES |
As at 31 March 2024 the company owed £1,200,000 (2023: £1,200,000) to its subsidiary undertaking, TFC Group (UK) Limited. This loan is unsecured, interest free and repayable on demand and following the cessation of trade in April 2024, are to be repaid in due course. |
7. | POST BALANCE SHEET EVENTS |
The company ceased to trade on 5 April 2024, following the third party disposal by Ourco LLP of its trade and assets. The company is entitled to a share of the profits for the period 1 April to 5 April 2024. These amounts have been accrued for within these accounts for simplicity. |
The company is in the process of paying its final debts before entering a 'Members Voluntary Liquidation'. |