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REGISTERED NUMBER: 06001850 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

OWL MOTOR SERVICES LTD

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


OWL MOTOR SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr J H Skerratt
Mr R Skerratt





SECRETARY: Mrs C P Skerratt





REGISTERED OFFICE: Owl Motor Services
Unit 2
Richmond Road
Southsea
PO5 2LN





REGISTERED NUMBER: 06001850 (England and Wales)





ACCOUNTANTS: Garbetts (IOW) Limited
Exchange House
St Cross Lane
Newport
Isle of Wight
PO30 5BZ

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 175,295 169,012

CURRENT ASSETS
Stocks 9,257 7,702
Debtors 5 21,057 21,839
Cash at bank and in hand 17,230 32,721
47,544 62,262
CREDITORS
Amounts falling due within one year 6 59,766 112,146
NET CURRENT LIABILITIES (12,222 ) (49,884 )
TOTAL ASSETS LESS CURRENT LIABILITIES 163,073 119,128

CREDITORS
Amounts falling due after more than one
year

7

(37,627

)

-

PROVISIONS FOR LIABILITIES (34,942 ) (30,194 )
NET ASSETS 90,504 88,934

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 36,709 43,004
Retained earnings 53,695 45,830
SHAREHOLDERS' FUNDS 90,504 88,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

BALANCE SHEET - continued
30 SEPTEMBER 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 16 May 2025 and were signed on its behalf by:





Mr J H Skerratt - Director


OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Owl Motor Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Included within plant and machinery are motor vehicles, a class of asset that the directors have determined will be included in the accounts at valuation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 October 2023 235,048
Additions 56,382
Disposals (16,000 )
Revaluations (26,000 )
At 30 September 2024 249,430
DEPRECIATION
At 1 October 2023 66,036
Charge for year 34,649
Revaluation adjustments (26,550 )
At 30 September 2024 74,135
NET BOOK VALUE
At 30 September 2024 175,295
At 30 September 2023 169,012

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2016 1,466
Valuation in 2017 (5,613 )
Valuation in 2018 1,521
Valuation in 2019 (2,000 )
Valuation in 2020 (7,834 )
Valuation in 2021 17,685
Valuation in 2022 (8,500 )
Valuation in 2023 3,667
Valuation in 2024 (26,000 )
Cost 275,038
249,430

If motor vehicles had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 182,575 147,391
Aggregate depreciation 105,680 87,908

Motor vehicles were valued on an open market basis on 30 September 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,645 16,594
Amounts recoverable on contract 7,295 4,894
Other debtors 1,117 351
21,057 21,839

OWL MOTOR SERVICES LTD (REGISTERED NUMBER: 06001850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,463 -
Trade creditors 34,989 36,439
Taxation and social security 9,191 23,486
Other creditors 4,123 52,221
59,766 112,146

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 37,627 -

8. RESERVES
Revaluation
reserve
£   
At 1 October 2023 43,004
Revaluation 550
Transfer (6,845 )

At 30 September 2024 36,709