Overock Limited 02303141 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Artistic Creation Digita Accounts Production Advanced 6.30.9574.0 true 02303141 2023-05-01 2024-04-30 02303141 2024-04-30 02303141 core:CurrentFinancialInstruments 2024-04-30 02303141 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 02303141 core:FurnitureFittingsToolsEquipment 2024-04-30 02303141 core:OtherPropertyPlantEquipment 2024-04-30 02303141 bus:SmallEntities 2023-05-01 2024-04-30 02303141 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02303141 bus:FilletedAccounts 2023-05-01 2024-04-30 02303141 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02303141 bus:RegisteredOffice 2023-05-01 2024-04-30 02303141 bus:Director1 2023-05-01 2024-04-30 02303141 bus:Director2 2023-05-01 2024-04-30 02303141 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02303141 core:ComputerEquipment 2023-05-01 2024-04-30 02303141 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 02303141 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02303141 core:PlantMachinery 2023-05-01 2024-04-30 02303141 countries:AllCountries 2023-05-01 2024-04-30 02303141 2023-04-30 02303141 core:FurnitureFittingsToolsEquipment 2023-04-30 02303141 core:OtherPropertyPlantEquipment 2023-04-30 02303141 2022-05-01 2023-04-30 02303141 2023-04-30 02303141 core:CurrentFinancialInstruments 2023-04-30 02303141 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 02303141 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 02303141 core:FurnitureFittingsToolsEquipment 2023-04-30 02303141 core:OtherPropertyPlantEquipment 2023-04-30 02303141 core:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 02303141

Overock Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

image-name
 

Overock Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Overock Limited

Company Information

Directors

Mr David Gavurin

Ms Harriet Ella Wheeler

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Overock Limited

(Registration number: 02303141)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

3,776

3,938

Current assets

 

Debtors

5

31,039

33,435

Cash at bank and in hand

 

337,346

713,666

 

368,385

747,101

Creditors: Amounts falling due within one year

6

(90,705)

(487,729)

Net current assets

 

277,680

259,372

Total assets less current liabilities

 

281,456

263,310

Provisions for liabilities

(717)

(748)

Net assets

 

280,739

262,562

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

280,639

262,462

Shareholders' funds

 

280,739

262,562

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

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 January 2024 and signed on its behalf by:
 

 

Overock Limited

(Registration number: 02303141)
Balance Sheet as at 30 April 2024

.........................................
Mr David Gavurin
Director

.........................................
Ms Harriet Ella Wheeler
Director

 
     
 

Overock Limited

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

1

General information

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

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the Board on 10 January 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.

The financial statements are presented in Sterling, which is the functional currency of the company.

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

 

Overock Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

20% Reducing Balance

Computer equipment

20% Reducing Balance

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.

 

Overock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Overock Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

2

2

2

2

4

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

3,449

66,101

69,550

Additions

708

-

708

At 30 April 2024

4,157

66,101

70,258

Depreciation

At 1 May 2023

890

64,722

65,612

Charge for the year

594

276

870

At 30 April 2024

1,484

64,998

66,482

Carrying amount

At 30 April 2024

2,673

1,103

3,776

At 30 April 2023

2,559

1,379

3,938

5

Debtors

Current

2024
£

2023
£

Prepayments

31,039

33,435

 

31,039

33,435

 

Overock Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

73,748

476,580

Trade Creditors

 

9,281

3,708

Social security and other taxes

 

1,883

4,124

Accrued expenses

 

1,030

960

Corporation Tax

4,763

2,357

 

90,705

487,729

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

73,748

476,580