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REGISTERED NUMBER: 01418006 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

OCO LIMITED

OCO LIMITED (REGISTERED NUMBER: 01418006)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30th June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 9

Statement of Financial Position 10

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 13


OCO LIMITED

COMPANY INFORMATION
for the year ended 30th June 2024







DIRECTORS: P J Cowdery
G Oborne
C Oborne
A J Harrison



SECRETARY: P J Cowdery



REGISTERED OFFICE: Meersbrook House
15 Essex Road
Dartford
Kent
DA1 2AU



REGISTERED NUMBER: 01418006 (England and Wales)



SENIOR STATUTORY AUDITOR: Paul Harris FCCA ACA



AUDITORS: Chegwidden & Co
Statutory Auditors
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex
RM6 4SN

OCO LIMITED (REGISTERED NUMBER: 01418006)

STRATEGIC REPORT
for the year ended 30th June 2024

The directors present the strategic report for OCO Limited for the year ended 30th June 2024.

REVIEW OF BUSINESS
The principal activity of the company continues to be that of installation and maintenance of heating, mechanical, electrical and water treatment services.

Turnover has increased by 7.64% during the year with the gross profit margin increasing from 21.96% in 2023 to 25.77% in 2024.

The net profit margin is up from -3.16% in 2023 to 1.90%. The results for the year have seen an increase in shareholders' funds of £289,667 with an increase in the net asset value to over £2.7 million.

The Directors are encouraged with the significant improvement in the results for the year. Turnover has increased across all key contracts and includes the start of a new term contract in the last quarter.

Ongoing Investment and enhancement in systems, practices and the commitment by staff in managing costs is reflected in the strong performance.

PRINCIPAL RISKS AND UNCERTAINTIES
Management continually monitor the key risks facing the Company together with assessing the controls used for managing these risks. The board of directors formally reviews and documents the principal risks facing the business at least annually.

The principal risks and uncertainties facing the Company are as follows:

Economic downturn
The company acknowledges the importance of maintaining close relationships with its key customers in order to be able to identify the early signs of potential financial difficulties. Sales trends in its major markets are constantly reviewed to enable early action to be taken in the event of sales declining.

Competitor pressure
The market in which the Company operates is considered to be competitive, and therefore competitor pressure could result in losing sales to key competitors. The Company manages this risk by providing quality services and maintaining strong relationships with its key customers.

Reliance on key suppliers
The Company's purchasing activities could expose it to over reliance on certain suppliers and inflationary pricing pressure. The Company manages this risk by ensuring there is enough breadth in its supplier base and by constantly seeking to find potential alternative suppliers that may be used, if necessary.

Loss of key personnel
This would present significant operational difficulties for the Company. Management seek to ensure that key personnel are appropriately remunerated to ensure that good performance is recognised.


OCO LIMITED (REGISTERED NUMBER: 01418006)

STRATEGIC REPORT
for the year ended 30th June 2024

KEY PERFORMANCE INDICATORS ("KPI")
The company assesses the following key performance indicators:

Revenues of £21,657,328 up 7.64% from £20,120,568 in 2023.

Gross margin of £5,581,620 up 26.31% from £4,418,879 in 2023.

EBITDA of £515,026 up 198.14% from £-524,813 in 2023.

Cash balances of £1,451,249 up 235.7% from £432,317 in 2023.

ON BEHALF OF THE BOARD:





G Oborne - Director


22nd April 2025

OCO LIMITED (REGISTERED NUMBER: 01418006)

REPORT OF THE DIRECTORS
for the year ended 30th June 2024

The directors present their report with the financial statements of the company for the year ended 30th June 2024.

DIVIDENDS
An interim dividend of 1.009 per share was paid on 30th June 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30th June 2024 will be £ 104,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report.

P J Cowdery
G Oborne
C Oborne
A J Harrison

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for according to the substance of the contractual arrangements, as either financial assets, financial liabilities or equity instruments, as defined in FRS 102, Financial Instruments, Disclosure and Presentation. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

FUTURE DEVELOPMENTS
The Directors believe that 2025 will be another challenging year. Their aim is to secure new contracts and continue to develop, review and implement management policies to meet and overcome the demands in the market place.

The Directors' initiative, commitment and investment in youth and industry training offered by the Bromley Training and Assessment Centre shall continue in 2025.

The Company continues to invest in software to enhance the service delivery of the business.

The Directors recognise the increasing importance of social value commitments within communities they work and have drawn up plans to establish and invest in a community interest company in the near future.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

OCO LIMITED (REGISTERED NUMBER: 01418006)

REPORT OF THE DIRECTORS
for the year ended 30th June 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Chegwidden & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and

- they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

ON BEHALF OF THE BOARD:





G Oborne - Director


22nd April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OCO LIMITED

Opinion
We have audited the financial statements of OCO Limited (the 'company') for the year ended 30th June 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OCO LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

- Enquiry of management, those charged with governance and the entity's solicitors (or in-house
legal team) around actual and potential litigation and claims.
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.
- Reviewing minutes of meetings of those charged with governance.
- Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant
transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OCO LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Harris FCCA ACA Paul Harris
for and on behalf of Chegwidden & Co
Statutory Auditors
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex
RM6 4SN

21st May 2025

OCO LIMITED (REGISTERED NUMBER: 01418006)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the year ended 30th June 2024

2024 2023
Notes £    £   

TURNOVER 3 21,657,328 20,120,568

Cost of sales 16,075,708 15,701,689
GROSS PROFIT 5,581,620 4,418,879

Administrative expenses 5,127,801 4,986,156
453,819 (567,277 )

Other operating income 4 681 -
OPERATING PROFIT/(LOSS) 6 454,500 (567,277 )

Interest receivable and similar income 22,997 1
477,497 (567,276 )

Interest payable and similar expenses 7 65,612 68,227
PROFIT/(LOSS) BEFORE TAXATION 411,885 (635,503 )

Tax on profit/(loss) 8 18,218 8,690
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

393,667

(644,193

)

Retained earnings at beginning of year 1,854,075 2,506,268

Dividends 9 (104,000 ) (8,000 )

RETAINED EARNINGS AT END OF
YEAR

2,143,742

1,854,075

OCO LIMITED (REGISTERED NUMBER: 01418006)

STATEMENT OF FINANCIAL POSITION
30th June 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 141,288 127,895
Investments 11 224,018 130,523
365,306 258,418

CURRENT ASSETS
Stocks 12 1,198,185 1,247,034
Debtors 13 5,405,051 5,842,234
Cash at bank and in hand 1,451,249 432,317
8,054,485 7,521,585
CREDITORS
Amounts falling due within one year 14 5,068,083 4,416,410
NET CURRENT ASSETS 2,986,402 3,105,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,351,708

3,363,593

CREDITORS
Amounts falling due after more than one year 15 646,166 947,718
NET ASSETS 2,705,542 2,415,875

CAPITAL AND RESERVES
Called up share capital 18 120,000 120,000
Share premium 19 441,800 441,800
Retained earnings 19 2,143,742 1,854,075
SHAREHOLDERS' FUNDS 2,705,542 2,415,875

The financial statements were approved by the Board of Directors and authorised for issue on 22nd April 2025 and were signed on its behalf by:




G Oborne - Director



C Oborne - Director


OCO LIMITED (REGISTERED NUMBER: 01418006)

STATEMENT OF CASH FLOWS
for the year ended 30th June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,361,396 213,078
Interest paid (62,263 ) (65,178 )
Interest element of hire purchase payments
paid

(3,349

)

(3,049

)
Net cash from operating activities 1,295,784 144,851

Cash flows from investing activities
Purchase of tangible fixed assets (50,928 ) (30,446 )
Interest received 22,997 1
Net cash from investing activities (27,931 ) (30,445 )

Cash flows from financing activities
New loans in year (178,495 ) -
Loan repayments in year 85,000 70,000
Capital repayments in year (21,154 ) (19,936 )
Amount introduced by directors 302,449 -
Amount withdrawn by directors (332,721 ) (218,288 )
Equity dividends paid (104,000 ) (8,000 )
Net cash from financing activities (248,921 ) (176,224 )

Increase/(decrease) in cash and cash equivalents 1,018,932 (61,818 )
Cash and cash equivalents at beginning of
year

2

432,317

494,135

Cash and cash equivalents at end of year 2 1,451,249 432,317

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE STATEMENT OF CASH FLOWS
for the year ended 30th June 2024

1. RECONCILIATION OF PROFIT/(LOSS) FOR THE FINANCIAL YEAR TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit/(loss) for the financial year 393,667 (644,193 )
Depreciation charges 37,535 42,463
Finance costs 65,612 68,227
Finance income (22,997 ) (1 )
Taxation 18,218 8,690
492,035 (524,814 )
Decrease in stocks 48,849 79,968
Decrease/(increase) in trade and other debtors 418,965 (213,458 )
Increase in trade and other creditors 401,547 871,382
Cash generated from operations 1,361,396 213,078

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30th June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 1,451,249 432,317
Year ended 30th June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 432,317 494,135


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 432,317 1,018,932 1,451,249
432,317 1,018,932 1,451,249
Debt
Finance leases (63,048 ) 21,154 (41,894 )
(63,048 ) 21,154 (41,894 )
Total 369,269 1,040,086 1,409,355

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30th June 2024

1. STATUTORY INFORMATION

OCO Limited 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 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements, as either financial assets, financial liabilities or equity instruments, as defined in FRS102, Financial Instruments; Disclosure and Presentation.

An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing agreements
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.

Remuneration trust
The company has established trusts for the benefit of employees, former employees and certain of their dependants. Monies held in these trusts are held by independent trustees and are managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date of allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in the identified individuals.

Where monies are held in a trust determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

During the year ended 30th June 2010, the company established the O C O Limited Remuneration Trust.

Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Unlisted investments are measured at fair value with changes in fair value being recognised in profit or loss.

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

4. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts 681 -

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,619,823 7,287,278
Social security costs 805,148 765,508
8,424,971 8,052,786

The average number of employees during the year was as follows:
2024 2023

Engineers and site staff 92 94
Office and management 85 80
Directors 4 4
181 178

2024 2023
£    £   
Directors' remuneration 128,497 128,709

6. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Other operating leases 142,014 132,618
Depreciation - owned assets 15,598 20,529
Depreciation - assets on hire purchase contracts 21,937 21,934
Auditors' remuneration 9,000 9,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest 62,263 65,178
Hire purchase 3,349 3,049
65,612 68,227

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 4,369 -

Deferred tax 13,849 8,690
Tax on profit/(loss) 18,218 8,690

UK corporation tax was charged at 22%) in 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 411,885 (635,503 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 22%)

102,971

(139,811

)

Effects of:
Expenses not deductible for tax purposes 3,169 18,340
Capital allowances in excess of depreciation (5,159 ) (31,157 )
Utilisation of tax losses (82,763 ) 161,318
Total tax charge 18,218 8,690

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 104,000 8,000

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st July 2023 4,333 213,107 325,867 543,307
Additions - 50,928 - 50,928
At 30th June 2024 4,333 264,035 325,867 594,235
DEPRECIATION
At 1st July 2023 3,167 147,415 264,830 415,412
Charge for year 385 15,919 21,231 37,535
At 30th June 2024 3,552 163,334 286,061 452,947
NET BOOK VALUE
At 30th June 2024 781 100,701 39,806 141,288
At 30th June 2023 1,166 65,692 61,037 127,895

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

11. FIXED ASSET INVESTMENTS

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Unlisted investments are measured at fair value with changes in fair value being recognised in profit or loss.


2024 2023
£ £
Unlisted investment 224,018 130,523
Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

12. STOCKS
2024 2023
£    £   
Stocks 233,024 101,567
Work-in-progress 965,161 1,145,467
1,198,185 1,247,034

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

13. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,212,839 1,107,419
Uninvoiced Work 3,344,964 4,171,254
Other debtors 62,359 62,359
Tax 119,382 123,751
Deferred tax asset 35,807 35,807
Prepayments and accrued income 493,537 191,632
5,268,888 5,692,222

Amounts falling due after more than one year:
Deferred tax asset 136,163 150,012

Aggregate amounts 5,405,051 5,842,234

The deferred tax asset has arisen due to unused tax losses brought forward which are considered recoverable over the next few years.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 21,817 21,817
Trade creditors 3,595,078 3,139,324
Credit cards (458 ) 3,386
Social security and other taxes 272,221 267,184
VAT 617,767 677,449
Other creditors 12,274 12,274
Directors' loan accounts 472,655 222,529
Accrued expenses 76,729 72,447
5,068,083 4,416,410

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 20,077 41,231
Directors' loan accounts 626,089 906,487
646,166 947,718

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 21,817 21,817
Between one and five years 20,077 41,231
41,894 63,048

Non-cancellable operating leases
2024 2023
£    £   
Within one year 537,558 319,393
Between one and five years 1,057,542 775,455
1,595,100 1,094,848

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 41,894 63,048
Directors Loans 1,098,744 1,129,016
1,140,638 1,192,064

The finance leases and hire purchase contracts are secured on the assets to which they relate.

Directors' loans are secured by a charge over all company assets.

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120,000 Ordinary £1 120,000 120,000

19. RESERVES

Retained Share
earnings premium Totals
£ £ £

At 1st July 20231,854,075 441,800 2,295,875
Surplus for the year393,667 - 393,667
Dividends(104,000 )- (104,000 )
At 30th June 20242,143,742 441,800 2,585,542

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.

Profit and loss account - This reserve records retained earnings and accumulated losses.

20. OTHER FINANCIAL COMMITMENTS

During the year ended 30th June 2010, the Company established the OCO Limited Remuneration Trust. During the year the company gifted £350,000 (2023; £200,000) to the Trust. No taxation liability arose to the Company as a result of such transaction.

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest is payable on the advances to the directors at a rate of 3%.

22. RELATED PARTY DISCLOSURES

During the year, total dividends of £104,000 (2023 - £8,000) were paid to the directors .

OCO LIMITED (REGISTERED NUMBER: 01418006)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th June 2024

22. RELATED PARTY DISCLOSURES - continued

Loans From Directors

Included in other creditors are the following amounts due to the directors under formal loan agreements.

Due in one year 2024 2023
C Oborne 108,778 55,515
G Oborne 113,409 55,301
P Cowdrey 135,359 55,512
A Harrison 115,109 56,201
£472,655 £222,529

Due after one year
C Oborne 155,630 236,616
G Oborne 150,810 234,275
P Cowdery 162,405 225,026
A Harrison 157,244 210,571
£626,089 £906,488



The loans are repayable in monthly instalments.

Interest is charged at 3% over the base rate prevailing at the end of December each year and 4% fixed.

23. ULTIMATE CONTROLLING PARTY

The shareholding is such that there is no controlling interest.