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REGISTERED NUMBER: 06831101 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

O'Boyle Brothers Limited

O'Boyle Brothers Limited (Registered number: 06831101)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


O'Boyle Brothers Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R N O'Boyle
K P O'Boyle
C J O'Boyle
Miss E A Gaughan





REGISTERED OFFICE: Unit 3 Westminster Road
Westminster Trading Estate
North Hykeham
Lincoln
LN6 3QY





REGISTERED NUMBER: 06831101 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

O'Boyle Brothers Limited (Registered number: 06831101)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,823 8,529

CURRENT ASSETS
Stocks 67,500 384,565
Debtors 5 203,508 516,800
Cash at bank 1,368,027 1,268,904
1,639,035 2,170,269
CREDITORS
Amounts falling due within one year 6 119,297 219,478
NET CURRENT ASSETS 1,519,738 1,950,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,526,561

1,959,320

PROVISIONS FOR LIABILITIES 1,296 1,621
NET ASSETS 1,525,265 1,957,699

CAPITAL AND RESERVES
Called up share capital 7 201 201
Retained earnings 1,525,064 1,957,498
1,525,265 1,957,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:




K P O'Boyle - Director



C J O'Boyle - Director


O'Boyle Brothers Limited (Registered number: 06831101)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

O'Boyle Brothers 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in 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 the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

O'Boyle Brothers Limited (Registered number: 06831101)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2023
and 29 February 2024 18,520
DEPRECIATION
At 1 March 2023 9,991
Charge for year 1,706
At 29 February 2024 11,697
NET BOOK VALUE
At 29 February 2024 6,823
At 28 February 2023 8,529

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,870 246,532
Amounts owed by group undertakings 42,405 25,993
Other debtors 140,233 244,275
203,508 516,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,696 140,347
Taxation and social security 65,462 31,004
Other creditors 28,139 48,127
119,297 219,478

7. CALLED UP SHARE CAPITAL


Number


Class

Nominal
value


2024

2023
£ £
180 Ordinary 1 180 201
5 Ordinary A 5 5 -
5 Ordinary B 5 5 -
5 Ordinary C 5 5 -
5 Ordinary D 5 5 -
1 Ordinary E 1 1 -
201 201
All shares rank equally in respect of voting rights, all shares rank equally in respect of dividends.

O'Boyle Brothers Limited (Registered number: 06831101)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. RELATED PARTY DISCLOSURES

The company transacted with O'Boyle Brothers Plant Hire Limited, a company in which R N O'Boyle, K P O'Boyle and C J O'Boyle are all Directors and Shareholders. These transactions all take place on commercial terms.

At the balance sheet date there was a net balance due to the company from O'Boyle Brothers Plant Hire of £42,405 (2023 - £25,993).

The controlling party is OB Brothers Holdings Limited.