2 2 Powell & Oliver Limited 04650507 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is independent farming consultants. Digita Accounts Production Advanced 6.30.9574.0 true 04650507 2024-01-01 2024-12-31 04650507 2024-12-31 04650507 core:CurrentFinancialInstruments 2024-12-31 04650507 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04650507 core:FurnitureFittings 2024-12-31 04650507 core:OfficeEquipment 2024-12-31 04650507 bus:SmallEntities 2024-01-01 2024-12-31 04650507 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04650507 bus:FilletedAccounts 2024-01-01 2024-12-31 04650507 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04650507 bus:RegisteredOffice 2024-01-01 2024-12-31 04650507 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 04650507 bus:Director2 2024-01-01 2024-12-31 04650507 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04650507 bus:Agent1 2024-01-01 2024-12-31 04650507 core:ComputerEquipment 2024-01-01 2024-12-31 04650507 core:FurnitureFittings 2024-01-01 2024-12-31 04650507 core:OfficeEquipment 2024-01-01 2024-12-31 04650507 countries:EnglandWales 2024-01-01 2024-12-31 04650507 2023-12-31 04650507 core:FurnitureFittings 2023-12-31 04650507 core:OfficeEquipment 2023-12-31 04650507 2023-01-01 2023-12-31 04650507 2023-12-31 04650507 core:CurrentFinancialInstruments 2023-12-31 04650507 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04650507 core:FurnitureFittings 2023-12-31 04650507 core:OfficeEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 04650507

Powell & Oliver Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Powell & Oliver Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Powell & Oliver Limited

Company Information

Directors

Mr N E Powell

Mr I T Oliver

Company secretary

Mr N E Powell

Registered office

The Links
Peterstow
Ross-on-Wye
Herefordshire
HR9 6LD

 

Accountants

W J James & Co
Chartered Accountants Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG


 

Bankers

The Co-operative Bank Plc
PO Box 250
Skelmersdale
WN8 6WT

 

Powell & Oliver Limited

(Registration number: 04650507)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,953

2,604

Current assets

 

Debtors

5

90,297

78,361

Cash at bank and in hand

 

3,792

20,629

 

94,089

98,990

Creditors: Amounts falling due within one year

6

(65,002)

(59,138)

Net current assets

 

29,087

39,852

Net assets

 

31,040

42,456

Capital and reserves

 

Called up share capital

100

100

Retained earnings

30,940

42,356

Shareholders' funds

 

31,040

42,456

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2025 and signed on its behalf by:
 

.........................................
Mr N E Powell
Company secretary and director

.........................................
Mr I T Oliver
Director

 

Powell & Oliver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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:
The Links
Peterstow
Ross-on-Wye
Herefordshire
HR9 6LD

These financial statements were authorised for issue by the Board on 30 July 2025.

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.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of agricultural consulting services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue when the work has been performed.

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 tax expense for the period comprises of 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 bases 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.

 

Powell & Oliver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Computer equipment

25% on reducing balance

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 services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Powell & Oliver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2024

8,733

2,942

11,675

At 31 December 2024

8,733

2,942

11,675

Depreciation

At 1 January 2024

6,782

2,289

9,071

Charge for the year

488

163

651

At 31 December 2024

7,270

2,452

9,722

Carrying amount

At 31 December 2024

1,463

490

1,953

At 31 December 2023

1,951

653

2,604

5

Debtors

Current

2024
£

2023
£

Trade debtors

87,979

75,989

Prepayments

2,318

2,372

 

90,297

78,361

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,080

8,250

Taxation and social security

13,613

15,352

Accruals and deferred income

1,890

1,800

Other creditors

43,419

33,736

65,002

59,138