Company No:
Contents
Note | 22.05.2024 | 30.04.2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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2,218,996 | 1,742,862 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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309,983 | 379,844 | |||
Creditors: amounts falling due within one year | 7 | (
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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 |
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total shareholders' funds |
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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:
A H Fraser
Director |
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.
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 £.
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.
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.
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.
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.
Land and buildings | not depreciated |
Leasehold improvements |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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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.
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.
Period from 01.05.2023 to 22.05.2024 |
Year ended 30.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
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At 22 May 2024 |
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Accumulated amortisation | |||
At 01 May 2023 |
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Charge for the financial period |
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At 22 May 2024 |
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Net book value | |||
At 22 May 2024 |
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At 30 April 2023 |
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Land and buildings | Leasehold improve- ments |
Vehicles | Fixtures and fittings | Office equipment | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 May 2023 |
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Revaluations |
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Disposals |
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At 22 May 2024 |
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Accumulated depreciation | |||||||||||
At 01 May 2023 |
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Charge for the financial period |
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Disposals |
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At 22 May 2024 |
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Net book value | |||||||||||
At 22 May 2024 |
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At 30 April 2023 |
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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.
22.05.2024 | 30.04.2023 | ||
£ | £ | ||
Stocks |
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22.05.2024 | 30.04.2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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22.05.2024 | 30.04.2023 | ||
£ | £ | ||
Bank loans (secured £
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Trade creditors |
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Corporation tax |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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22.05.2024 | 30.04.2023 | ||
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Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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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 |
Transactions with the entity's directors
22.05.2024 | 30.04.2023 | ||
£ | £ | ||
Advanced to directors | 114,926 | 49,683 |