One Off Engineering Services Limited
Registered number: 04826168
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,282 16,377
Current assets
Stocks 10,166 9,740
Debtors 4 34,129 96,183
Cash at bank and in hand 315,350 356,618
359,645 462,541
Creditors: amounts falling due within one year 5 (22,242) (30,520)
Net current assets 337,403 432,021
Total assets less current liabilities 372,685 448,398
Provisions for liabilities (2,524) (3,112)
Net assets 370,161 445,286
Capital and reserves
Called up share capital 110 100
Profit and loss account 370,051 445,186
Shareholders' funds 370,161 445,286
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.
M Breedon
Director
Approved by the board on 27 November 2024
One Off Engineering Services Limited
Notes to the Accounts
for the year ended 31 October 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.
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.
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% reducing balance
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.
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 5 6
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 - 9,500 44,495 53,995
Additions 22,000 1,333 - 23,333
At 31 October 2024 22,000 10,833 44,495 77,328
Depreciation
At 1 November 2023 - 2,375 35,243 37,618
Charge for the year - 2,115 2,313 4,428
At 31 October 2024 - 4,490 37,556 42,046
Net book value
At 31 October 2024 22,000 6,343 6,939 35,282
At 31 October 2023 - 7,125 9,252 16,377
4 Debtors 2024 2023
£ £
Trade debtors 31,736 94,318
Other debtors 2,393 1,865
34,129 96,183
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,807 5,118
Corporation tax 1,307 23,002
Other taxes and social security costs 6,128 2,400
22,242 30,520
6 Other information
One Off Engineering Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Knollbeck Lane
Brampton Brierlow
Barnsley
South Yorkshire
S73 0TF
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