OVAL (765) Limited 02658524 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the management of leasehold properties. Digita Accounts Production Advanced 6.30.9574.0 true 02658524 2024-04-01 2025-03-31 02658524 2025-03-31 02658524 core:CurrentFinancialInstruments 2025-03-31 02658524 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 02658524 core:BetweenTwoFiveYears 2025-03-31 02658524 core:WithinOneYear 2025-03-31 02658524 core:FurnitureFittingsToolsEquipment 2025-03-31 02658524 core:LandBuildings 2025-03-31 02658524 bus:SmallEntities 2024-04-01 2025-03-31 02658524 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02658524 bus:FilletedAccounts 2024-04-01 2025-03-31 02658524 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02658524 bus:RegisteredOffice 2024-04-01 2025-03-31 02658524 bus:Director3 2024-04-01 2025-03-31 02658524 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02658524 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 02658524 core:LandBuildings 2024-04-01 2025-03-31 02658524 core:OtherRelatedParties 2024-04-01 2025-03-31 02658524 countries:EnglandWales 2024-04-01 2025-03-31 02658524 2024-03-31 02658524 core:FurnitureFittingsToolsEquipment 2024-03-31 02658524 core:LandBuildings 2024-03-31 02658524 2023-04-01 2024-03-31 02658524 2024-03-31 02658524 core:CurrentFinancialInstruments 2024-03-31 02658524 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02658524 core:BetweenTwoFiveYears 2024-03-31 02658524 core:WithinOneYear 2024-03-31 02658524 core:FurnitureFittingsToolsEquipment 2024-03-31 02658524 core:LandBuildings 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 02658524

OVAL (765) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

OVAL (765) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

OVAL (765) Limited

(Registration number: 02658524)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

11,067

9,321

Current assets

 

Debtors

5

74,978

2,340

Cash at bank and in hand

 

130,574

6,618

 

205,552

8,958

Creditors: Amounts falling due within one year

6

(85,623)

(17,920)

Net current assets/(liabilities)

 

119,929

(8,962)

Net assets

 

130,996

359

Capital and reserves

 

Called up share capital

18

18

Retained earnings

130,978

341

Shareholders' funds

 

130,996

359

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 June 2025
 

.........................................
Mrs Sheila Clark
Director

 

OVAL (765) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Belmont
Bath
Somerset
BA1 5DZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

OVAL (765) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 7).

 

OVAL (765) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Freehold property interest
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

9,321

-

9,321

Additions

5,400

500

5,900

Disposals

(4,029)

-

(4,029)

At 31 March 2025

10,692

500

11,192

Depreciation

Charge for the year

-

125

125

At 31 March 2025

-

125

125

Net book value

At 31 March 2025

10,692

375

11,067

At 31 March 2024

9,321

-

9,321

5

Debtors

2025
£

2024
£

Trade debtors

60,200

613

Other debtors

9,968

-

Prepayments

4,810

1,727

74,978

2,340

 

OVAL (765) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

3,893

315

Taxation and social security

67,746

6,369

Accruals and deferred income

2,250

1,200

Other creditors

11,734

10,036

85,623

17,920

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

3,546

-

Later than one year and not later than five years

5,685

-

9,231

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,661 (2024 - £Nil).

8

Related party transactions

Summary of transactions with other related parties

Contingency loan During the year the company operated an unsecured, interest free loan, from another company which is controlled by the previous directors of this company who resigned on 1 July 2023. At the year end the amount owed (included in other creditors) is £10,000 (2024 - £9,303).