| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| ROBERTSON GEOLOGGING LIMITED |
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| ROBERTSON GEOLOGGING LIMITED |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Report of the Independent Auditors | 4 |
| Statement of Income and Retained Earnings | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 |
| ROBERTSON GEOLOGGING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| 25 Grosvenor Road |
| Wrexham |
| LL11 1BT |
| BANKERS: |
| 60 Mostyn Street |
| Llandudno |
| LL302SF |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| The directors present their report with the financial statements of the company for the year ended 31st December 2024. |
| PRINCIPAL ACTIVITIES |
| The principal activities of the company in the year under review were those of the manufacture of high technology wireline logging equipment and the provision of borehole logging services. |
| DIRECTORS |
| The directors set out in the table below have held office during the whole of the period from 1st January 2024 to the date of this report. |
| The beneficial interests of the directors holding office at 31st December 2024 in the shares of the company, according to the register of directors' interests, were as follows: |
| 31.12.24 | 1.1.24 |
| Ordinary A shares of £1 each |
| - | - |
| - | - |
| 9,199 | 9,199 |
| - | - |
| These directors did not hold any beneficial interests in the Ordinary shares of £1 each. |
| These directors did not hold any non-beneficial interests in any of the shares of the company. |
| POLITICAL DONATIONS AND EXPENDITURE |
| During the year the company donated £4,000 to charity. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing 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. |
| 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, M. D. Coxey and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROBERTSON GEOLOGGING LIMITED |
| Opinion |
| We have audited the financial statements of Robertson Geologging Limited (the 'company') for the year ended 31st December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and 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 31st December 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROBERTSON GEOLOGGING 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 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; or |
| - | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROBERTSON GEOLOGGING LIMITED |
| 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. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| - the engagement partner ensured that the engagement team collectively had the appropriate competence, |
| capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| - we identified the laws and regulations applicable to the company through discussions with directors and other |
| management; |
| - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of |
| management and inspecting legal correspondence; and |
| - identified laws and regulations were communicated within the audit team regularly and the team remained alert to |
| instances of non-compliance throughout the audit. |
| We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of |
| actual, suspected and alleged fraud; and |
| - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; |
| To address the risk of fraud through management bias and override of controls, we: |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| - assessed whether judgements and assumptions made in determining accounting estimates were indicative of |
| potential bias; and |
| - investigated the rationale behind significant or unusual transactions; |
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
| Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
| 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 |
| ROBERTSON GEOLOGGING 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. |
| for and on behalf of |
| Chartered Accountants |
| and Statutory Auditors |
| 25 Grosvenor Road |
| Wrexham |
| LL11 1BT |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| STATEMENT OF INCOME AND |
| RETAINED EARNINGS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| 544,687 | 278,143 |
| Other operating income |
| OPERATING PROFIT | 4 |
| Interest receivable and similar income |
| 717,406 | 376,970 |
| Interest payable and similar expenses | 5 |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 |
| PROFIT FOR THE FINANCIAL YEAR |
| Retained earnings at beginning of year |
| RETAINED EARNINGS AT END OF YEAR |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| BALANCE SHEET |
| 31ST DECEMBER 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 7 |
| Tangible assets | 8 |
| Investments | 9 |
| CURRENT ASSETS |
| Stocks | 10 |
| Debtors | 11 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 12 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
13 |
( |
) |
| PROVISIONS FOR LIABILITIES | 14 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Robertson Geologging Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Robertson Geologging Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, OYO Corporation USA, 245 Carmelo Avenue, Suite 101, Pasadena, Califomia 91107, USA. |
| OYO Corporation is the parent undertaking of the largest group of undertakings to consolidate these financial statements at 31 December 2023. The consolidated financial statements of OYO Corporation are available from 2 - 6 Kudan Kita Chome, Chiyoda-ku, Tokyo 102-0073, Japan. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover, which excludes value added tax and trade discounts, represents the invoiced value of goods and services supplied. Turnover is recognised upon despatch of goods, or when the risks and rewards transfer to the customer in accordance with agreed trading terms if stock is physically held on site. |
| Logging services income is recognised over the period of time that the service is provided. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures, plant & computers | - |
| Service logging equipment | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recorded at cost plus allowable acquisition costs less any provision in impairment. Impairment reviews are performed by the directors when there has been an indication of potential impairment. |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value. Cost comprises purchase cost on a first-in-first-out basis together with, where appropriate, an allocation of attributable overheads. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal. |
| Reviews are carried out to identify slow moving, obsolete and defective stock. Where such items are identified, provision is made to adjust their value to net realisable value. |
| 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. |
| 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. |
| Research and development |
| Pure research expenditure is written off in the year in which it is incurred. Significant costs incurred on the development of specific products are capitalised and amortised over the expected commercial life of the product, typically three years. Research and development undertaken under contract for individual clients is written off against the costs of the project. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under finance leases and hire purchase contracts are capitalised in the Statements of Financial Position and are depreciated over their useful lives. The interest element of the rental obligations is charged to the Statement of Comprehensive Income over the period of the lease on a sum of digits basis. Rental paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the term of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme which requires contributions to be made to separately administered funds. The company also operates a group private pension scheme. The assets of the schemes are held separately from those of the company in two independently administered funds. he amount charged against profits represents the contributions payable to the schemes in respect of the accounting year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Hire of plant and machinery |
| Depreciation - owned assets |
| Depreciation - assets on hire purchase contracts |
| Loss on disposal of fixed assets |
| Computer software amortisation |
| Auditors' remuneration |
| Auditors' remuneration for non audit work |
| Foreign exchange differences | ( |
) |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Other interest |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) |
| Tax on profit |
| UK corporation tax has been charged at 25% (2023 - 23.52%). |
| 7. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1st January 2024 |
| Additions |
| At 31st December 2024 |
| AMORTISATION |
| At 1st January 2024 |
| Amortisation for year |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 8. | TANGIBLE FIXED ASSETS |
| Fixtures, | Service |
| Freehold | plant & | logging | Motor |
| property | computers | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1st January 2024 |
| and 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| and 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| 9. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1st January 2024 |
| and 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 9. | FIXED ASSET INVESTMENTS - continued |
| The investment in the wholly owned subsidiary Robertson Geologging (USA) Inc has been fully written down in prior periods. Robertson Geologging (USA) Inc is a company incorporated in the USA and is a supplier of wireline logging equipment to the North and South American markets. Robertson Geologging Limited hold 100% of the ordinary shares in Robertson Geologging (USA) Inc. The company's registered address is 1809 N. Helm Ave, Suite #4, Fresno, 93727 California, USA. |
| Robertson Geologging (Asia) Limited is a wholly owned subsidiary and is a company incorporated in Hong Kong to promote the sale of wireline logging equipment and borehole logging services. The company's registered address is 16th Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong. |
| 10. | STOCKS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Stocks |
| Finished goods |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Corporation tax |
| VAT |
| Prepayments |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Amounts owed to group undertakings |
| ROBERTSON GEOLOGGING LIMITED (REGISTERED NUMBER: 02059684) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 14. | PROVISIONS FOR LIABILITIES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) | ( |
) |
| Other timing differences | (23,319 | ) | (20,246 | ) |
| 128,442 | 104,444 |
| Deferred |
| tax |
| £ |
| Balance at 1st January 2024 |
| Movement in the year due to - |
| changes in tax allowances | 26,928 |
| changes in tax rates |
| changes in timing differences | 143 |
| changes in tax losses | (3,073 | ) |
| Balance at 31st December 2024 |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 1,033,149 | 1,033,149 |
| Ordinary A | £1 | 63,930 | 63,930 |
| 1,097,079 | 1,097,079 |
| 16. | CAPITAL COMMITMENTS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 17. | RELATED PARTY DISCLOSURES |
| During the year the company made sales to OYO Corporation Japan, its ultimate parent company in the sum of £322,187 (2023: £100,996) and purchases of £87,159. (2023 £160,049). At the year end had a trade debtor balance of £nil (2023: £53,570) and a trade creditor balance of £17,122 (2023: £17,355). |
| During the year purchases of £nil (2023: £3,695) were made from OYO Corporation USA, the immediate parent company. At the year end there was a loan balance payable of £2,425,000 (2023: £56) and the company paid interest of £92,714 (2023: £nil). |
| 18. | ULTIMATE CONTROLLING PARTY |
| The immediate parent undertaking is OYO Corporation USA who own 99.16% (2023 - 99.16%) of the share capital. |
| The ultimate parent and controlling party is OYO Corporation, a company incorporated in Japan. |