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Registration number: 06500020

Andrews & O'Shea Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Andrews & O'Shea Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Andrews & O'Shea Ltd

Company Information

Director

Mr C Brown

Company secretary

R A Registrars Ltd

Registered office

Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

Accountants

Andrews & O'Shea Ltd
Accountants
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Andrews & O'Shea Ltd
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Andrews & O'Shea Ltd for the year ended 30 September 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Andrews & O'Shea Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Andrews & O'Shea Ltd and state those matters that we have agreed to state to the Board of Directors of Andrews & O'Shea Ltd, as a body, in this report and for no other reason. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrews & O'Shea Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Andrews & O'Shea Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Andrews & O'Shea Ltd. You consider that Andrews & O'Shea Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Andrews & O'Shea Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Andrews & O'Shea Ltd
Accountants
Optima House
Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

28 November 2024

 

Andrews & O'Shea Ltd

(Registration number: 06500020)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

1,305

1,938

Current assets

 

Debtors

7

21,633

52,331

Cash at bank and in hand

 

12,783

25,351

 

34,416

77,682

Creditors: Amounts falling due within one year

8

(10,455)

(23,866)

Net current assets

 

23,961

53,816

Net assets

 

25,266

55,754

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

25,264

55,752

Shareholders' funds

 

25,266

55,754

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr C Brown
Director

 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

These financial statements were authorised for issue by the director on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.

Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

Tax

The company has trading losses available to carry forward against future trading profits of £277,880 (2023 - £247,481).

 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% per annum - reducing balance basis

Fixture and fittings

25% per annum - reducing balance basis

Other tangibles

25% per annum - reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% per annum - straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

633

935

 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

219,999

219,999

At 30 September 2024

219,999

219,999

Amortisation

At 1 October 2023

219,999

219,999

At 30 September 2024

219,999

219,999

Carrying amount

At 30 September 2024

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Other tangibles
 £

Total
£

Cost or valuation

At 1 October 2023

6,305

10,882

17,187

At 30 September 2024

6,305

10,882

17,187

Depreciation

At 1 October 2023

6,218

9,031

15,249

Charge for the year

22

611

633

At 30 September 2024

6,240

9,642

15,882

Carrying amount

At 30 September 2024

65

1,240

1,305

At 30 September 2023

87

1,851

1,938

 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

debtors

Current

2024
£

2023
£

Trade debtors

14,177

42,947

Other debtors

7,456

9,384

 

21,633

52,331

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

1,991

7,530

Trade creditors

 

796

5,096

Taxation and social security

 

7,268

10,840

Other creditors

 

400

400

 

10,455

23,866

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Andrews & O'Shea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,991

7,530

11

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr C Brown

Interest free loan

7,530

(7,541)

2,002

1,991

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Mr C Brown

Interest free loan

9,739

(2,209)

7,530

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

8,040

8,040