Registered number
04408559
Owls Hall Environmental Ltd
Filleted Accounts
31 March 2024
Owls Hall Environmental Ltd
Registered number: 04408559
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 15,334 17,253
Tangible assets 4 1,180,951 1,091,407
1,196,285 1,108,660
Current assets
Stocks 217,482 208,631
Debtors 5 199,183 120,107
Cash at bank and in hand 138,497 199,632
555,162 528,370
Creditors: amounts falling due within one year 6 (542,558) (511,968)
Net current assets 12,604 16,402
Total assets less current liabilities 1,208,889 1,125,062
Creditors: amounts falling due after more than one year 7 (392,378) (340,214)
Provisions for liabilities (54,924) (40,701)
Net assets 761,587 744,147
Capital and reserves
Called up share capital 240 240
Share premium 79,960 79,960
Profit and loss account 681,387 663,947
Shareholders' funds 761,587 744,147
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C I Finbow
Director
Approved by the board on 2 October 2024
Owls Hall Environmental Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings none
Plant machinery, fixtures fittings and equipment over 5 and 10 years
Motor vehicles 25% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company, including the director. 16 17
3 Intangible fixed assets £
Trademarks and website
Cost
At 1 April 2023 23,082
At 31 March 2024 23,082
Amortisation
At 1 April 2023 5,829
Provided during the year 1,919
At 31 March 2024 7,748
Net book value
At 31 March 2024 15,334
At 31 March 2023 17,253
Patents trademarks etc is being written off in equal annual instalments over its estimated economic life of 20 years. The website is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 877,191 471,595 178,162 1,526,948
Additions - 134,733 20,000 154,733
Disposals - (4,165) - (4,165)
At 31 March 2024 877,191 602,163 198,162 1,677,516
Depreciation
At 1 April 2023 - 377,561 57,980 435,541
Charge for the year - 33,893 31,296 65,189
On disposals - (4,165) - (4,165)
At 31 March 2024 - 407,289 89,276 496,565
Net book value
At 31 March 2024 877,191 194,874 108,886 1,180,951
At 31 March 2023 877,191 94,034 120,182 1,091,407
5 Debtors 2024 2023
£ £
Trade debtors 169,479 82,752
Other debtors 29,704 37,355
199,183 120,107
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,231 21,865
Obligations under finance lease and hire purchase contracts 36,369 8,425
Trade creditors 198,892 177,819
Amounts owed to group undertakings and undertakings in which the company has a participating interest 110,366 123,105
Taxation and social security costs 45,250 55,479
Other creditors 134,450 125,275
542,558 511,968
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 289,764 327,818
Obligations under finance lease and hire purchase contracts 102,614 12,396
392,378 340,214
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 263,740 290,238
Secured bank loans 263,740 290,238
Lloyds Bank PLC and Union Pensions Trustees (Eastern) Limited have charges over assets of the company
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,224 8,635
10 Controlling party
CI Finbow and HA Finbow are both directors and shareholders of Owls Hall Farm Ltd. Owls Hall Environmental Ltd owes Owls Hall Farm Limited £110,367 at year end 2024 (£123,105 - 2023)
11 Other information
Previous years reflected the share capital as £79,200; this has been amended to correct the
share capital to £240 and the share premium to £79,960, reflecting the true position.
Owls Hall Environmental Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Owls Hall Farm
Blackmore End
Braintree
Essex
CM7 4DF
Owls Hall Environmental Ltd 04408559 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr C I Finbow No description of principal activity 04408559 2022-04-01 2023-03-31 04408559 core:WithinOneYear 2023-03-31 04408559 core:AfterOneYear 2023-03-31 04408559 core:ShareCapital 2023-03-31 04408559 core:SharePremium 2023-03-31 04408559 core:RetainedEarningsAccumulatedLosses 2023-03-31 04408559 core:AllPeriods 2023-03-31 04408559 2023-04-01 2024-03-31 04408559 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04408559 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04408559 bus:Director40 2023-04-01 2024-03-31 04408559 1 2023-04-01 2024-03-31 04408559 2 2023-04-01 2024-03-31 04408559 core:Goodwill 2023-04-01 2024-03-31 04408559 core:LandBuildings 2023-04-01 2024-03-31 04408559 core:PlantMachinery 2023-04-01 2024-03-31 04408559 core:Vehicles 2023-04-01 2024-03-31 04408559 countries:England 2023-04-01 2024-03-31 04408559 bus:FRS102 2023-04-01 2024-03-31 04408559 bus:FilletedAccounts 2023-04-01 2024-03-31 04408559 2024-03-31 04408559 core:WithinOneYear 2024-03-31 04408559 core:AfterOneYear 2024-03-31 04408559 core:ShareCapital 2024-03-31 04408559 core:SharePremium 2024-03-31 04408559 core:RetainedEarningsAccumulatedLosses 2024-03-31 04408559 core:Goodwill 2024-03-31 04408559 core:LandBuildings 2024-03-31 04408559 core:PlantMachinery 2024-03-31 04408559 core:Vehicles 2024-03-31 04408559 core:AllPeriods 2024-03-31 04408559 2023-03-31 04408559 core:Goodwill 2023-03-31 04408559 core:LandBuildings 2023-03-31 04408559 core:PlantMachinery 2023-03-31 04408559 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure