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Obbard Limited

Registered Number
02917554
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Obbard Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Hugh Obbard
Patricia Patrick

Company Secretary

Hugh Obbard

Registered Address

5 Technology Park
Colindeep Lane
Colindale
NW9 6BX

Registered Number

02917554 (England and Wales)
Obbard Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets333,13630,501
33,13630,501
Current assets
Debtors4921,625673,529
Cash at bank and on hand674,464825,496
1,596,0891,499,025
Creditors amounts falling due within one year5(1,427,616)(1,248,388)
Net current assets (liabilities)168,473250,637
Total assets less current liabilities201,609281,138
Creditors amounts falling due after one year6(179,167)(255,833)
Provisions for liabilities7(5,795)(5,795)
Net assets16,64719,510
Capital and reserves
Called up share capital1,6001,600
Share premium13,22113,221
Other reserves300300
Profit and loss account1,5264,389
Shareholders' funds16,64719,510
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
Hugh Obbard
Director
Registered Company No. 02917554
Obbard Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of the contract is measured by the proportion of physical work completed compared to the total work to be done. When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs associated with the construction contract are included as revenue and expenses respectively by reference to the stage of completion of the contract at the end of the reporting period.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Current taxation
The tax currently payable is based on the taxable profit for the year. Taxable profit duffers from net profits as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Office Equipment3
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year129
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 May 23134,05223,31397,270254,635
Additions2,0401,5716,76910,380
At 30 April 24136,09224,884104,039265,015
Depreciation and impairment
At 01 May 23112,20221,25390,679224,134
Charge for year3,2409083,5977,745
At 30 April 24115,44222,16194,276231,879
Net book value
At 30 April 2420,6502,7239,76333,136
At 30 April 2321,8502,0606,59130,501
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables718,007341,370
Other debtors118,645267,563
Prepayments and accrued income84,97364,596
Total921,625673,529
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables146,79282,617
Bank borrowings and overdrafts76,66776,667
Taxation and social security312,413290,196
Other creditors28,43410,458
Accrued liabilities and deferred income863,310788,450
Total1,427,6161,248,388
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts179,167255,833
Total179,167255,833
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,7955,795
Total5,7955,795
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Patricia Patrick130,702209,525292,00048,227
Hugh Obbard121,141232,030292,00061,171
251,843441,555584,000109,398
The loans are interest-bearing and repayable on demand by the Directors.
9.Controlling party
The directors consider Mr. H. Obbard to be the ultimate controlling party of the company.