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REGISTERED NUMBER: 01199658 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Overs And Rich Limited

Overs And Rich Limited (Registered number: 01199658)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Overs And Rich Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr S Overs





REGISTERED OFFICE: Expresso Slots
19 Market Place
Bedlington
Northumberland
NE22 5TN





REGISTERED NUMBER: 01199658 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Overs And Rich Limited (Registered number: 01199658)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 973,102 1,001,280

CURRENT ASSETS
Stocks - 125
Debtors 6 556,651 566,690
Cash at bank 27,299 44,471
583,950 611,286
CREDITORS
Amounts falling due within one year 7 (13,323 ) (30,943 )
NET CURRENT ASSETS 570,627 580,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,543,729

1,581,623

PROVISIONS FOR LIABILITIES (1,311 ) (20,784 )
NET ASSETS 1,542,418 1,560,839

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Profit and loss account 1,527,418 1,545,839
SHAREHOLDERS' FUNDS 1,542,418 1,560,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





Mr S Overs - Director


Overs And Rich Limited (Registered number: 01199658)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Overs And Rich Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
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 group companies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, stated net of discounts and value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Property rentals :
Income from property rentals are recognised in the profit and loss account on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
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 estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

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 been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.


Overs And Rich Limited (Registered number: 01199658)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued
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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Leasing
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 6 ).

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 1,042,731 139,974 1,182,705
Additions (5,806 ) - (5,806 )
At 31 May 2024 1,036,925 139,974 1,176,899
DEPRECIATION
At 1 June 2023 50,089 131,336 181,425
Charge for year 20,633 1,739 22,372
At 31 May 2024 70,722 133,075 203,797
NET BOOK VALUE
At 31 May 2024 966,203 6,899 973,102
At 31 May 2023 992,642 8,638 1,001,280

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 450
Amounts owed by group undertakings 554,331 553,754
Other debtors 2,320 12,486
556,651 566,690

Overs And Rich Limited (Registered number: 01199658)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,712 22,564
Taxation and social security 2,100 -
Other creditors 8,511 8,379
13,323 30,943

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 19,000 19,000
Between one and five years 38,000 57,000
57,000 76,000

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Treatview Limited registered in England and Wales with company number 01755525.