Silverfin false false 22/05/2024 01/05/2023 22/05/2024 A H Fraser 22/05/2024 S P D Kershaw 22/05/2024 J A O'Hara 22/05/2024 29/04/2006 N P O'Hara 22/05/2024 29/04/2006 A N O'Hara 22/05/2024 13/05/2019 N O'Hara 22/05/2024 13/05/2019 21 February 2025 The principal activity of the Company during the financial year is that of funeral directors. 05801188 2024-05-22 05801188 bus:Director1 2024-05-22 05801188 bus:Director2 2024-05-22 05801188 bus:Director3 2024-05-22 05801188 bus:Director4 2024-05-22 05801188 bus:Director5 2024-05-22 05801188 bus:Director6 2024-05-22 05801188 2023-04-30 05801188 core:CurrentFinancialInstruments 2024-05-22 05801188 core:CurrentFinancialInstruments 2023-04-30 05801188 core:Non-currentFinancialInstruments 2024-05-22 05801188 core:Non-currentFinancialInstruments 2023-04-30 05801188 core:ShareCapital 2024-05-22 05801188 core:ShareCapital 2023-04-30 05801188 core:RevaluationReserve 2024-05-22 05801188 core:RevaluationReserve 2023-04-30 05801188 core:RetainedEarningsAccumulatedLosses 2024-05-22 05801188 core:RetainedEarningsAccumulatedLosses 2023-04-30 05801188 core:Goodwill 2023-04-30 05801188 core:Goodwill 2024-05-22 05801188 core:LandBuildings 2023-04-30 05801188 core:LeaseholdImprovements 2023-04-30 05801188 core:Vehicles 2023-04-30 05801188 core:FurnitureFittings 2023-04-30 05801188 core:OfficeEquipment 2023-04-30 05801188 core:LandBuildings 2024-05-22 05801188 core:LeaseholdImprovements 2024-05-22 05801188 core:Vehicles 2024-05-22 05801188 core:FurnitureFittings 2024-05-22 05801188 core:OfficeEquipment 2024-05-22 05801188 core:CurrentFinancialInstruments core:Secured 2024-05-22 05801188 2023-05-01 2024-05-22 05801188 bus:FilletedAccounts 2023-05-01 2024-05-22 05801188 bus:SmallEntities 2023-05-01 2024-05-22 05801188 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-05-22 05801188 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-05-22 05801188 bus:Director1 2023-05-01 2024-05-22 05801188 bus:Director2 2023-05-01 2024-05-22 05801188 bus:Director3 2023-05-01 2024-05-22 05801188 bus:Director4 2023-05-01 2024-05-22 05801188 bus:Director5 2023-05-01 2024-05-22 05801188 bus:Director6 2023-05-01 2024-05-22 05801188 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-05-22 05801188 core:Vehicles core:TopRangeValue 2023-05-01 2024-05-22 05801188 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-05-22 05801188 core:OfficeEquipment 2023-05-01 2024-05-22 05801188 2022-05-01 2023-04-30 05801188 core:Goodwill 2023-05-01 2024-05-22 05801188 core:LandBuildings 2023-05-01 2024-05-22 05801188 core:LeaseholdImprovements 2023-05-01 2024-05-22 05801188 core:Vehicles 2023-05-01 2024-05-22 05801188 core:FurnitureFittings 2023-05-01 2024-05-22 05801188 core:CurrentFinancialInstruments 2023-05-01 2024-05-22 05801188 1 2023-05-01 2024-05-22 iso4217:GBP xbrli:pure

Company No: 05801188 (England and Wales)

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

Unaudited Financial Statements
For the financial period from 01 May 2023 to 22 May 2024
Pages for filing with the registrar

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

Unaudited Financial Statements

For the financial period from 01 May 2023 to 22 May 2024

Contents

NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

BALANCE SHEET

As at 22 May 2024
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

BALANCE SHEET (continued)

As at 22 May 2024
Note 22.05.2024 30.04.2023
£ £
Fixed assets
Intangible assets 3 202,056 227,558
Tangible assets 4 2,016,940 1,515,304
2,218,996 1,742,862
Current assets
Stocks 5 20,151 30,000
Debtors 6 279,307 347,888
Cash at bank and in hand 10,525 1,956
309,983 379,844
Creditors: amounts falling due within one year 7 ( 1,822,253) ( 620,553)
Net current liabilities (1,512,270) (240,709)
Total assets less current liabilities 706,726 1,502,153
Creditors: amounts falling due after more than one year 8 0 ( 1,163,467)
Provision for liabilities ( 185,376) ( 36,771)
Net assets 521,350 301,915
Capital and reserves
Called-up share capital 10,000 10,000
Revaluation reserve 498,750 0
Profit and loss account 12,600 291,915
Total shareholders' funds 521,350 301,915

For the financial period ending 22 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Nicholas O'Hara Funeral Directors Limited (registered number: 05801188) were approved and authorised for issue by the Board of Directors on 21 February 2025. They were signed on its behalf by:

A H Fraser
Director
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 22 May 2024
NICHOLAS O'HARA FUNERAL DIRECTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 22 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nicholas O'Hara Funeral Directors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cumberland Court, 80 Mount Street, Nottingham, England, NG1 6HH, United Kingdom. The principal place of business is 38 Rowlands Hill, Wimborne, Dorset, BH21 1AW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared based on the company's assets and liabilities as at 22 May 2024. All loans and bank borrowings were settled upon completion of the sale to Funeral Partners Limited.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

Period from
01.05.2023 to
22.05.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 30 31

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 885,405 885,405
At 22 May 2024 885,405 885,405
Accumulated amortisation
At 01 May 2023 657,847 657,847
Charge for the financial period 25,502 25,502
At 22 May 2024 683,349 683,349
Net book value
At 22 May 2024 202,056 202,056
At 30 April 2023 227,558 227,558

4. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 1,218,726 226,172 720,600 303,312 1,800 2,470,610
Revaluations 665,000 0 0 0 0 665,000
Disposals 0 ( 5,649) ( 75,487) 0 0 ( 81,136)
At 22 May 2024 1,883,726 220,523 645,113 303,312 1,800 3,054,474
Accumulated depreciation
At 01 May 2023 2,116 150,572 557,067 244,960 591 955,306
Charge for the financial period 0 15,463 125,432 16,727 328 157,950
Disposals 0 ( 235) ( 75,487) 0 0 ( 75,722)
At 22 May 2024 2,116 165,800 607,012 261,687 919 1,037,534
Net book value
At 22 May 2024 1,881,610 54,723 38,101 41,625 881 2,016,940
At 30 April 2023 1,216,610 75,600 163,533 58,352 1,209 1,515,304

Revaluation of tangible assets

Freehold land and buildings were revalued on the basis of the sales price apportioned to buildings following the sale of the share capital of the company on 22 May 2024.

5. Stocks

22.05.2024 30.04.2023
£ £
Stocks 20,151 30,000

6. Debtors

22.05.2024 30.04.2023
£ £
Trade debtors 59,407 144,319
Other debtors 219,900 203,569
279,307 347,888

7. Creditors: amounts falling due within one year

22.05.2024 30.04.2023
£ £
Bank loans (secured £ 935,017) 1,575,526 165,776
Trade creditors 7,525 272,956
Corporation tax 5,532 37,775
Other taxation and social security 7,520 9,536
Obligations under finance leases and hire purchase contracts (secured) 122,639 58,868
Other creditors 103,511 75,642
1,822,253 620,553

Bank loans are secured on the freehold property with a carrying value of £1,881,610 (2022: £1,216,610) by way of a fixed charge. Hire purchase contracts are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

22.05.2024 30.04.2023
£ £
Bank loans 0 953,374
Obligations under finance leases and hire purchase contracts 0 110,787
Other creditors 0 99,306
0 1,163,467

9. Financial commitments

Commitments

Capital commitments are as follows:

22.05.2024 30.04.2023
£ £
Contracted for but not provided for:
Finance leases entered into 381,600 463,500

10. Related party transactions

Transactions with the entity's directors

22.05.2024 30.04.2023
£ £
Advanced to directors 114,926 49,683

11. Events after the Balance Sheet date

During the period, the company entered into an agreement for the sale of its business to Funeral Partners Limited. The sale was completed on 22 May 2024.