Company Registration No. 11400991 (England and Wales)
Ohso Technical Ltd
Unaudited accounts
for the year ended 30 June 2024
Ohso Technical Ltd
Unaudited accounts
Contents
Ohso Technical Ltd
Company Information
for the year ended 30 June 2024
Directors
Chris Beechend
Tom Carroll
David Morton
Company Number
11400991 (England and Wales)
Registered Office
Eternity House Eternity House
21-24 Hickman Avenue
Highams Park
London
E4 9GA
United Kingdom
Ohso Technical Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
4,296
2,992
Cash at bank and in hand
30,182
7,393
Creditors: amounts falling due within one year
(195,593)
(321,401)
Net current liabilities
(21,921)
(191,719)
Total assets less current liabilities
6,641
(188,727)
Creditors: amounts falling due after more than one year
(207,073)
(31,705)
Net liabilities
(200,432)
(220,432)
Called up share capital
100,000
100,000
Profit and loss account
(300,432)
(320,432)
Shareholders' funds
(200,432)
(220,432)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
Chris Beechend
Director
Company Registration No. 11400991
Ohso Technical Ltd
Notes to the Accounts
for the year ended 30 June 2024
Ohso Technical Ltd is a private company, limited by shares, registered in England and Wales, registration number 11400991. The registered office is Eternity House Eternity House, 21-24 Hickman Avenue, Highams Park, London, E4 9GA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Company has been given the continuing support of the directors and this will not be withdrawn. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis.
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:
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.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective
interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as
a reduction in the proceeds of the associated capital instrument.
Ohso Technical Ltd
Notes to the Accounts
for the year ended 30 June 2024
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 the Statement of Income and Retained Earnings 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.
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal
of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets and depreciation
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, using the straight-line method. Depreciation is provided on the following basis:
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 the Statement of Income and Retained Earnings.
Plant & machinery
20% Straight line
Computer equipment
20% Straight line
Investments in subsidiaries are measured at cost less accumulated impairment.
Ohso Technical Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
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.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and
liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and
investments in ordinary shares.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
4,614
6,220
10,834
At 30 June 2024
5,171
8,316
13,487
At 1 July 2023
3,140
4,702
7,842
Charge for the year
618
731
1,349
At 30 June 2024
3,758
5,433
9,191
At 30 June 2024
1,413
2,883
4,296
At 30 June 2023
1,474
1,518
2,992
5
Investments
Subsidiary undertakings
Valuation at 1 July 2023
-
Valuation at 30 June 2024
24,266
The company holds 100% of the issued share capital of Amicom Limited, a company incorporated in England. The principal activity of the subsidiary is "Other information technology service activities". The investment is recorded at cost less any impairment.
Ohso Technical Ltd
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Trade debtors
87,406
61,570
Deferred tax asset
53,830
56,783
Accrued income and prepayments
2,254
3,936
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
6,626
Trade creditors
47,746
30,232
Taxes and social security
33,956
57,856
Other creditors
10,504
9,439
Loans from directors
60,000
197,000
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
160,907
-
Allotted, called up and fully paid:
1,000,000 Ordinary shares of £0.10 each
100,000
100,000
At the year end, Pension Commitments of £5,761 were outstanding (2023: £1,548).
Ohso Technical Ltd
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
197,000
493,907
470,000
220,907
197,000
493,907
470,000
220,907
At the balance sheet date, the director's loan account showed a balance of £220,907. (2023: £197,000). The loan is subject to an interest rate of 1% on principal amounts loaned and is repayable on demand. The director has confirmed that no formal repayment schedule exists. However, £60,000 of the balance is expected to be repaid within one year, with the remainder repayable after one year.
12
Average number of employees
During the year the average number of employees was 8 (2023: 8).