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Registration number: 06534571

Offa-Fix Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Offa-Fix Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Offa-Fix Holdings Limited

(Registration number: 06534571)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

74,261

31,964

Investments

5

850

850

 

75,111

32,814

Current assets

 

Debtors

6

31,347

84,146

Cash at bank and in hand

 

2,787

1,856

 

34,134

86,002

Creditors: Amounts falling due within one year

7

(36,107)

(74,747)

Net current (liabilities)/assets

 

(1,973)

11,255

Total assets less current liabilities

 

73,138

44,069

Provisions for liabilities

(18,325)

(5,036)

Net assets

 

54,813

39,033

Capital and reserves

 

Called up share capital

8

1,980

1,980

Retained earnings

52,833

37,053

Shareholders' funds

 

54,813

39,033

 

Offa-Fix Holdings Limited

(Registration number: 06534571)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 and in accordance with the provisions of FRS 102 section 1A - Small Entities. The profit and loss account and directors’ report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mr CB Harman
Director

.........................................
Mr M Brown
Director

 

Offa-Fix Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Suite 26 Hardmans Bus Centre
New Hall Hey Road
Rawtenstall
Lancashire
BB4 6HH
England

These financial statements were authorised for issue by the Board on 20 March 2025.

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 and are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group and has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Offa-Fix Holdings Limited

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

Tax

The tax expense for the period comprises 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

Fixtures and fittings

15% per annum straight line

Equipment

20% per annum straight line

Motor vehicles

25% per annum straight line

Plant and machinery

15% per annum straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Offa-Fix Holdings Limited

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

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.

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.

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.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

 

Offa-Fix Holdings Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Equipment
£

Motor vehicles
 £

Cost or valuation

At 1 July 2023

18,008

114,137

16,871

74,914

Additions

-

56,331

2,116

-

Disposals

-

(5,727)

-

-

At 30 June 2024

18,008

164,741

18,987

74,914

Depreciation

At 1 July 2023

17,512

87,362

12,178

74,914

Charge for the year

322

14,354

1,474

-

Eliminated on disposal

-

(5,727)

-

-

At 30 June 2024

17,834

95,989

13,652

74,914

Carrying amount

At 30 June 2024

174

68,752

5,335

-

At 30 June 2023

496

26,775

4,693

-

Total
£

Cost or valuation

At 1 July 2023

223,930

Additions

58,447

Disposals

(5,727)

At 30 June 2024

276,650

Depreciation

At 1 July 2023

191,966

Charge for the year

16,150

Eliminated on disposal

(5,727)

At 30 June 2024

202,389

Carrying amount

At 30 June 2024

74,261

At 30 June 2023

31,964

 

Offa-Fix Holdings Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

850

850

Subsidiaries

£

Cost or valuation

At 1 July 2023

850

Carrying amount

At 30 June 2024

850

At 30 June 2023

850

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Offa-Fix Formwork Ltd

Suite 26, Hardmans Bus Centre
Rawtenstall
BB4 6HH

Ordinary

100%

100%

 

England

     

Subsidiary undertakings

Offa-Fix Formwork Ltd

The principal activity of Offa-Fix Formwork Ltd is that of engineering and construction.

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

31,331

82,629

Other debtors

 

16

1,517

   

31,347

84,146

 

Offa-Fix Holdings Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

19,603

40,532

Accruals and deferred income

149

13

Other creditors

16,355

34,202

36,107

74,747

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' share of £1 each

30

30

30

30

Ordinary 'B' share of £1 each

650

650

650

650

Ordinary 'C' share of £1 each

650

650

650

650

Ordinary 'D' share of £1 each

650

650

650

650

1,980

1,980

1,980

1,980

9

Related party transactions

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

82,629

82,629

Advanced

586,750

586,750

Repaid

(638,048)

(638,048)

At end of period

31,331

31,331

 

Offa-Fix Holdings Limited

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

2023

Subsidiary
£

Total
£

At start of period

74,775

74,775

Advanced

288,000

288,000

Repaid

(280,146)

(280,146)

At end of period

82,629

82,629

Terms of loans to related parties

The loan is repayable on demand and no interest is payable.