Company registration number 05919009 (England and Wales)
OH WORKS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
OH WORKS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
OH WORKS LTD (REGISTERED NUMBER: 05919009)
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
122,880
69,039
Current assets
Stocks
60,086
44,960
Debtors
4
956,366
572,958
Cash at bank and in hand
-
0
98,393
1,016,452
716,311
Creditors: amounts falling due within one year
5
(996,775)
(611,017)
Net current assets
19,677
105,294
Total assets less current liabilities
142,557
174,333
Creditors: amounts falling due after more than one year
6
(26,245)
(70,665)
Provisions for liabilities
(25,465)
(11,640)
Net assets
90,847
92,028
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
90,843
92,024
Total equity
90,847
92,028

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

OH WORKS LTD (REGISTERED NUMBER: 05919009)
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 3 July 2025
Mrs M S Waters
Director
OH WORKS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

OH Works Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria also must be met before turnover is recognised.

Turnover for the sale of goods is recognised when all of the following conditions are met:

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

OH WORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
- 5% on straight line
Computer software
- 10% on straight line
Fixtures, fittings & equipment
- 25% on reducing balance
Computer equipment
- 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
77
68
OH WORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
3
Tangible fixed assets
Improvements to property
Computer software
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
17,446
-
0
63,769
105,580
186,795
Additions
-
0
51,041
4,283
27,802
83,126
Disposals
-
0
-
0
-
0
(58,156)
(58,156)
At 31 August 2024
17,446
51,041
68,052
75,226
211,765
Depreciation and impairment
At 1 September 2023
4,741
-
0
53,257
59,760
117,758
Depreciation charged in the year
872
638
3,579
12,460
17,549
Eliminated in respect of disposals
-
0
-
0
-
0
(46,422)
(46,422)
At 31 August 2024
5,613
638
56,836
25,798
88,885
Carrying amount
At 31 August 2024
11,833
50,403
11,216
49,428
122,880
At 31 August 2023
12,706
-
0
10,512
45,821
69,039
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
918,014
553,828
Other debtors
38,352
19,130
956,366
572,958
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
71,406
41,498
Trade creditors
352,183
228,835
Taxation and social security
570,352
337,984
Other creditors
2,834
2,700
996,775
611,017
OH WORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,245
70,665
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
Ordinary A of £1 each
1
1
1
1
4
4
4
4
8
Financial commitments, guarantees and contingent liabilities

During the 2022 year, the company borrowed £50,000 from its bankers for a bounce-back loan.

As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.

At the balance sheet date, the outstanding amount owed relating to the bounce-back loan was £22,437 (2022: £32,431).

This amount is included in the bank loans and overdrafts figure, and is split between within one year and over one year. Interest is charged on this balance at 2.5%.

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
63,900
101,732
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