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Registered number: 03389226










OD Consultancy Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
OD Consultancy Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of OD Consultancy Limited for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of OD Consultancy Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of OD Consultancy Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of OD Consultancy Limited and state those matters that we have agreed to state to the Board of directors of OD Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OD Consultancy Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that OD Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of OD Consultancy Limited. You consider that OD Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of OD Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Canterbury
21 March 2025
Page 1

 
OD Consultancy Limited
Registered number: 03389226

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,090
58,974

  
39,090
58,974

Current assets
  

Debtors: amounts falling due within one year
 5 
77,395
77,643

Current asset investments
 6 
700,999
639,994

Cash at bank and in hand
  
308,175
374,628

  
1,086,569
1,092,265

Creditors: amounts falling due within one year
 7 
(286,241)
(416,398)

Net current assets
  
 
 
800,328
 
 
675,867

Total assets less current liabilities
  
839,418
734,841

  

Net assets
  
839,418
734,841


Capital and reserves
  

Called up share capital 
 8 
100
100

Capital redemption reserve
  
9,005
9,005

Profit and loss account
  
830,313
725,736

  
839,418
734,841


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Bradley
Director
Date: 21 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

OD Consultancy Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is; Innovation Reception, Innovation Way, Discovery Park, Sandwich, Kent, CT13 9FF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Revenue

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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



3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
76,082
11,828
87,910


Additions
-
797
797



At 30 June 2024

76,082
12,625
88,707



Depreciation


At 1 July 2023
22,662
6,274
28,936


Charge for the year on owned assets
19,021
1,660
20,681



At 30 June 2024

41,683
7,934
49,617



Net book value



At 30 June 2024
34,399
4,691
39,090



At 30 June 2023
53,420
5,554
58,974

Page 6

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Debtors

2024
2023
£
£


Trade debtors
75,296
70,314

Other debtors
360
5,255

Prepayments and accrued income
1,739
2,074

77,395
77,643



6.


Current asset investments

2024
2023
£
£

Listed investments
509,164
311,683

Unlisted investments
191,835
328,311

700,999
639,994



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Company credit card
1,478
14,910

Trade creditors
15,766
37,238

Corporation tax
17,909
3,917

Other taxation and social security
22,877
38,688

Other creditors
128,086
191,521

Accruals and deferred income
100,125
130,124

286,241
416,398



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

All related party transactions during the current and prior periods, including key mangement personnel compensation, were made under normal market conditions.

Page 7

 
OD Consultancy Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

10.


Controlling party

The company considers the ultimate controlling party to be Mr & Mrs Bradley by virtue of their majority holding of the issued share capital.


Page 8