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REGISTERED NUMBER: 11586850 (England and Wales)


















O'LEARY ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


O'LEARY ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S D Merrick
B O'leary
L Merrick





REGISTERED OFFICE: 16 Dane Road
Bletchley
Milton Keynes
Buckinghamshire
MK1 1JQ





REGISTERED NUMBER: 11586850 (England and Wales)





ACCOUNTANTS: Thompson Balch Limited
Chartered Accountants
Sovereign House
15 Towcester Road
Old Stratford
Milton Keynes
MK19 6AN

O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 117,732 73,192

CURRENT ASSETS
Stocks 83,552 85,886
Debtors 5 803,693 437,975
Cash at bank 83,315 182,464
970,560 706,325
CREDITORS
Amounts falling due within one year 6 549,783 413,168
NET CURRENT ASSETS 420,777 293,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

538,509

366,349

PROVISIONS FOR LIABILITIES 29,433 18,299
NET ASSETS 509,076 348,050

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 509,073 348,047
SHAREHOLDERS' FUNDS 509,076 348,050

O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:




S D Merrick - Director



B O'leary - Director


O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

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


1. STATUTORY INFORMATION

O'Leary Engineering 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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

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 - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.


O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

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


2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 117,527 2,387 31,449 6,630 157,993
Additions 5,663 124 72,990 1,203 79,980
At 30 September 2024 123,190 2,511 104,439 7,833 237,973
DEPRECIATION
At 1 October 2023 66,056 1,309 13,551 3,885 84,801
Charge for year 11,428 301 22,724 987 35,440
At 30 September 2024 77,484 1,610 36,275 4,872 120,241
NET BOOK VALUE
At 30 September 2024 45,706 901 68,164 2,961 117,732
At 30 September 2023 51,471 1,078 17,898 2,745 73,192

O'LEARY ENGINEERING LTD (REGISTERED NUMBER: 11586850)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 476,160 412,558
Amounts owed by group undertakings 300,683 -
Other debtors 26,850 25,417
803,693 437,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 219,765 161,680
Taxation and social security 150,099 156,886
Other creditors 179,919 94,602
549,783 413,168