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REGISTERED NUMBER: SC271999 (Scotland)










Financial Statements

For The Year Ended 31 August 2024

for

O'Byrne Tiling Limited

O'Byrne Tiling Limited (Registered number: SC271999)

Contents of the Financial Statements
For The Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


O'Byrne Tiling Limited

Company Information
For The Year Ended 31 August 2024







DIRECTORS: S O'Byrne
Mrs D M O'Byrne





SECRETARY: Mrs D M O'Byrne





REGISTERED OFFICE: 49 Oakridge Road
Drumpellier Lawns
Bargeddie
Glasgow
G69 7TH





REGISTERED NUMBER: SC271999 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

O'Byrne Tiling Limited (Registered number: SC271999)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 104,455 96,095

CURRENT ASSETS
Debtors 5 241,760 306,062
Cash at bank 1,149,520 1,261,251
1,391,280 1,567,313
CREDITORS
Amounts falling due within one year 6 312,729 449,821
NET CURRENT ASSETS 1,078,551 1,117,492
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,183,006

1,213,587

CREDITORS
Amounts falling due after more than one
year

7

(45,232

)

(46,501

)

PROVISIONS FOR LIABILITIES 10 (19,846 ) (24,024 )
NET ASSETS 1,117,928 1,143,062

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,117,828 1,142,962
SHAREHOLDERS' FUNDS 1,117,928 1,143,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

O'Byrne Tiling Limited (Registered number: SC271999)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





S O'Byrne - Director


O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements
For The Year Ended 31 August 2024


1. STATUTORY INFORMATION

O'Byrne Tiling Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the date of approval of the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets
As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Debtors recoverability
For any balance considered irrecoverable, provision is made against the debtor. The remaining debtor balance at the year end not provided for, is therefore considered fully recoverable.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes

Turnover represents net invoiced sales of tiling services, excluding value added tax.

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 value added tax and any other sales taxes. The following criteria must also be met before revenue is recognised.

Rendering of services:
Revenue from agreement to provide services is recognised in the period in which the services are provided 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 agreement.

O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible assets are stated at original cost less accumulated depreciation and accumulated impairment losses.

The company adds to the carrying amount of an item of fixed asset the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the
company. Any carrying amount of the replaced part is written off. Repairs and maintenance are charged to
the profit and loss during the year in which they are incurred except for any parts unused at the year end.
Asset residual values, useful lives and depreciation methods of relevant assets are reviewed, and adjusted
prospectively if appropriate. Gains and losses on disposals are determined by comparing the proceeds with
the carrying amount and recognised in the profit and loss during the year of disposal.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Any bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 1,003 9,005 154,060 6,192 170,260
Additions - - 55,248 - 55,248
Disposals - - (28,609 ) - (28,609 )
At 31 August 2024 1,003 9,005 180,699 6,192 196,899
DEPRECIATION
At 1 September 2023 1,003 9,005 57,965 6,192 74,165
Charge for year - - 34,819 - 34,819
Eliminated on disposal - - (16,540 ) - (16,540 )
At 31 August 2024 1,003 9,005 76,244 6,192 92,444
NET BOOK VALUE
At 31 August 2024 - - 104,455 - 104,455
At 31 August 2023 - - 96,095 - 96,095

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 154,060
Additions 55,248
Disposals (28,609 )
At 31 August 2024 180,699
DEPRECIATION
At 1 September 2023 57,965
Charge for year 34,819
Eliminated on disposal (16,540 )
At 31 August 2024 76,244
NET BOOK VALUE
At 31 August 2024 104,455
At 31 August 2023 96,095

O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors & accrued sales 56,063 43,660
VAT 36,127 37,603
Prepayments and accrued income 149,570 224,799
241,760 306,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 31,541 31,154
Trade creditors 135,542 143,384
Tax 55,346 143,982
Social security and other taxes 1,197 15,354
Company credit card 46,113 48,245
Directors' current accounts 8 55
Accrued expenses 42,982 67,647
312,729 449,821

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 45,232 46,501

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 31,541 31,154
Between one and five years 45,232 46,501
76,773 77,655

Non-cancellable operating leases
2024 2023
£    £   
Within one year 7,304 7,091
Between one and five years 17,880 25,183
25,184 32,274

O'Byrne Tiling Limited (Registered number: SC271999)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 76,773 77,655

Hire purchase creditors are secured against the assets concerned.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 19,846 24,024

Deferred
tax
£   
Balance at 1 September 2023 24,024
Accelerated capital allowances (4,178 )
Balance at 31 August 2024 19,846

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S O'Byrne.