Registered number
11486673
O'Brien Van Der Steen Workshops Limited
Unaudited Filleted Accounts
31 July 2024
O'Brien Van Der Steen Workshops Limited
Registered number: 11486673
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,468 10,000
Current assets
Debtors 4 142,644 118,911
Cash at bank and in hand 14,295 59,592
156,939 178,503
Creditors: amounts falling due within one year 5 (76,063) (91,673)
Net current assets 80,876 86,830
Total assets less current liabilities 88,344 96,830
Provisions for liabilities (1,419) (2,047)
Net assets 86,925 94,783
Capital and reserves
Called up share capital 2 2
Profit and loss account 86,923 94,781
Shareholders' funds 86,925 94,783
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 Joseph Van Der Steen
Director
Approved by the board on 2 December 2024
O'Brien Van Der Steen Workshops Limited
Notes to the Accounts
for the year ended 31 July 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Plant and machinery 25% Straight line
Debtors/creditors
Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
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 7 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 21,258
Additions 1,850
At 31 July 2024 23,108
Depreciation
At 1 August 2023 11,258
Charge for the year 4,382
At 31 July 2024 15,640
Net book value
At 31 July 2024 7,468
At 31 July 2023 10,000
4 Debtors 2024 2023
£ £
Trade debtors 59,945 55,686
Other debtors 82,699 63,225
142,644 118,911
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,167 15,015
Taxation and social security costs 31,808 39,983
Other creditors 33,088 36,675
76,063 91,673
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest charged at HMRC's official rate, repayable on demand 20,473 25,713 (24,773) 21,413
Interest charged at HMRC's official rate, repayable on demand 21,895 26,163 (25,419) 22,639
6 Other information
O'Brien Van Der Steen Workshops Limited is a private company limited by shares and incorporated in England. Its registered office is:
56 The Square
Chagford
Devon
TQ13 8AE
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