2024-06-012025-05-312025-05-31false07498979O'CONNOR AND CO (FINANCIAL SERVICES) 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O'CONNOR AND CO (FINANCIAL SERVICES) LIMITED

Registered Number
07498979
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

O'CONNOR AND CO (FINANCIAL SERVICES) LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors

FA Gould
LM Tait
PD Valentine

Registered Address

Windsor House
Cliftonville
Northampton
NN1 5BE

Registered Number

07498979 (England and Wales)
O'CONNOR AND CO (FINANCIAL SERVICES) LIMITED
Balance Sheet as at
31 May 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets314,35510,260
14,35510,260
Current assets
Debtors78,668133,239
Cash at bank and on hand222,352462,377
301,020595,616
Creditors amounts falling due within one year4(127,156)(111,926)
Net current assets (liabilities)173,864483,690
Total assets less current liabilities188,219493,950
Provisions for liabilities5(3,332)(2,252)
Net assets184,887491,698
Capital and reserves
Called up share capital22
Other reserves88
Profit and loss account184,877491,688
Shareholders' funds184,887491,698
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2025, and are signed on its behalf by:
PD Valentine
Director
Registered Company No. 07498979
O'CONNOR AND CO (FINANCIAL SERVICES) LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover comprises commission and fee income recognised by the company in respect of insurance policies put on risk during the period.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Office Equipment-5
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20252024
Average number of employees during the year1415
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 June 2414,10939,38153,490
Additions3806,7787,158
At 31 May 2514,48946,15960,648
Depreciation and impairment
At 01 June 2410,25832,97243,230
Charge for year6182,4453,063
At 31 May 2510,87635,41746,293
Net book value
At 31 May 253,61310,74214,355
At 31 May 243,8516,40910,260
4.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables14,6354,605
Bank borrowings and overdrafts12,51318,391
Taxation and social security80,19455,969
Accrued liabilities and deferred income19,81432,961
Total127,156111,926
5.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)3,3322,252
Total3,3322,252
6.Operating lease commitments
At 31 May 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £46,333 (2024 – £Nil)