o1constructive.com Limited
Filleted Abridged Accounts
31 January 2025
Registered number
07901656
o1constructive.com Limited
Registered number: 07901656
Abridged Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 162,413 31,669
Current assets
Stocks 1,330 624
Debtors 39,714 217,752
Cash at bank and in hand 521,255 616,973
562,299 835,349
Creditors: amounts falling due within one year (389,003) (546,305)
Net current assets 173,296 289,044
Total assets less current liabilities 335,709 320,713
Provisions for liabilities (1,871) (7,917)
Net assets 333,838 312,796
Capital and reserves
Called up share capital 10 10
Profit and loss account 333,828 312,786
Shareholder's funds 333,838 312,796
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
G Teale
Director
Approved by the board on 30 April 2025
o1constructive.com Limited
Notes to the Abridged Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 25% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 5
3 Tangible fixed assets
Total
£
Cost
At 1 February 2024 134,028
Additions 159,712
Disposals (6,370)
At 31 January 2025 287,370
Depreciation
At 1 February 2024 102,359
Charge for the year 28,500
On disposals (5,902)
At 31 January 2025 124,957
Net book value
At 31 January 2025 162,413
At 31 January 2024 31,669
4 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
G Teale
[Loan 1] 7,375 - (7,375) -
7,375 - (7,375) -
5 Other information
o1constructive.com Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2, Felnex Close
Cross Green
Leeds
LS9 0SR
o1constructive.com Limited 07901656 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts April 2024 G Teale No description of principal activity 07901656 2023-02-01 2024-01-31 07901656 core:WithinOneYear 2024-01-31 07901656 core:ShareCapital 2024-01-31 07901656 core:RetainedEarningsAccumulatedLosses 2024-01-31 07901656 2024-02-01 2025-01-31 07901656 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07901656 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 07901656 bus:Director40 2024-02-01 2025-01-31 07901656 1 2024-02-01 2025-01-31 07901656 2 2024-02-01 2025-01-31 07901656 bus:Director5 2024-02-01 2025-01-31 07901656 bus:Director5 1 2024-02-01 2025-01-31 07901656 countries:England 2024-02-01 2025-01-31 07901656 bus:FRS102 2024-02-01 2025-01-31 07901656 bus:AbridgedAccounts 2024-02-01 2025-01-31 07901656 2025-01-31 07901656 core:WithinOneYear 2025-01-31 07901656 core:ShareCapital 2025-01-31 07901656 core:RetainedEarningsAccumulatedLosses 2025-01-31 07901656 bus:Director5 1 2025-01-31 07901656 2024-01-31 07901656 bus:Director5 1 2024-01-31 iso4217:GBP xbrli:pure