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Registered number: 04895656
O'Keeffe Building Services Limited
Financial Statements
For The Year Ended 30 September 2024
L J Hanbury Limited
143 Tamworth Road
Long Eaton
Nottingham
NG10 1BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04895656
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 116,168 217,251
116,168 217,251
CURRENT ASSETS
Stocks 6 605,417 450,000
Debtors 7 79,940 89,659
Cash at bank and in hand 21,245 168,991
706,602 708,650
Creditors: Amounts Falling Due Within One Year 8 (741,791 ) (808,668 )
NET CURRENT ASSETS (LIABILITIES) (35,189 ) (100,018 )
TOTAL ASSETS LESS CURRENT LIABILITIES 80,979 117,233
Creditors: Amounts Falling Due After More Than One Year 9 (68,052 ) (107,549 )
NET ASSETS 12,927 9,684
CAPITAL AND RESERVES
Called up share capital 11 200 200
Profit and Loss Account 12,727 9,484
SHAREHOLDERS' FUNDS 12,927 9,684
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Russell O'Keeffe
Director
26/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
O'Keeffe Building Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04895656 . The registered office is 87 Melton Road, West Bridgford, Nottingham, NG2 6EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold fully amortised
Plant & Machinery 25% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings fully depreciated
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 17)
27 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 7,500
As at 30 September 2024 7,500
Amortisation
As at 1 October 2023 7,500
As at 30 September 2024 7,500
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2023 15,250 14,206 436,995 3,029
Additions - - 8,770 -
Disposals - - (155,154 ) -
As at 30 September 2024 15,250 14,206 290,611 3,029
Depreciation
As at 1 October 2023 - 13,421 237,255 3,029
...CONTINUED
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Provided during the period - 785 33,639 -
Disposals - - (81,201 ) -
As at 30 September 2024 - 14,206 189,693 3,029
Net Book Value
As at 30 September 2024 15,250 - 100,918 -
As at 1 October 2023 15,250 785 199,740 -
Computer Equipment Total
£ £
Cost
As at 1 October 2023 29,558 499,038
Additions - 8,770
Disposals - (155,154 )
As at 30 September 2024 29,558 352,654
Depreciation
As at 1 October 2023 28,082 281,787
Provided during the period 1,476 35,900
Disposals - (81,201 )
As at 30 September 2024 29,558 236,486
Net Book Value
As at 30 September 2024 - 116,168
As at 1 October 2023 1,476 217,251
6. Stocks
2024 2023
£ £
Stock 80,000 80,000
Work in progress 525,417 370,000
605,417 450,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,930 14,144
Other debtors 76,010 75,515
79,940 89,659
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,433 77,526
Trade creditors 262,373 346,339
Bank loans and overdrafts 61,216 10,000
Other loans 67,500 67,500
Other creditors 47,228 32,754
Taxation and social security 285,041 274,549
741,791 808,668
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 60,894 90,308
Bank loans 7,158 17,241
68,052 107,549
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 18,433 77,526
Later than one year and not later than five years 60,894 90,308
79,327 167,834
79,327 167,834
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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