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Registered number: 06158488
Owens Handyman Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06158488
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13 115
13 115
CURRENT ASSETS
Cash at bank and in hand 11 11
11 11
Creditors: Amounts Falling Due Within One Year 5 (43,031 ) (40,591 )
NET CURRENT ASSETS (LIABILITIES) (43,020 ) (40,580 )
TOTAL ASSETS LESS CURRENT LIABILITIES (43,007 ) (40,465 )
NET LIABILITIES (43,007 ) (40,465 )
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account (43,009 ) (40,467 )
SHAREHOLDERS' FUNDS (43,007) (40,465)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T Owens
Director
28 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Owens Handyman Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06158488 . The registered office is 24 Eastwood Drive, Donnington, Shropshire, TF2 7LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on cost
Computer Equipment 33% on reducing balance
2.5. Financial Instruments
The company only enters in to basic financial intrument transactions that result in the recognition of financial
aseets and liabilites like trade debtors and creditors, loans from banks and other third parties and loans to
related parties.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 3,319 2,500 1,359 7,178
As at 31 March 2024 3,319 2,500 1,359 7,178
Depreciation
As at 1 April 2023 3,328 2,396 1,339 7,063
Provided during the period (9 ) 104 7 102
As at 31 March 2024 3,319 2,500 1,346 7,165
Net Book Value
As at 31 March 2024 - - 13 13
As at 1 April 2023 (9 ) 104 20 115
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors - 2,500
Accruals and deferred income 251 250
Director's loan account 42,780 37,841
43,031 40,591
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Ultimate Controlling Party
The company's ultimate controlling party is Mr T A Owens by virtue of his ownership of 100% of the issued share capital in the company.
8. Going Concern
Total liabilities exceed total assets, however, the company is able to meet its liabilities as they fall due.
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