REGISTERED NUMBER: 04550401 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Oasthouse Engineering Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K N Morris

SECRETARY:

Mrs D Morris

REGISTERED OFFICE:

352 Burncross Road

Burncross

Chapeltown

Sheffield

S35 1SJ

REGISTERED NUMBER:

04550401 (England and Wales)

ACCOUNTANTS:

SMH Reed Smith Ltd

Copia House

Great Cliffe Court

Great Cliffe Road

Barnsley

S75 3SP

BANKERS:

Barclays Bank Plc

40 Pinstone Street

Sheffield

S1 2HN

FIXED ASSETS

Property, plant and equipment

4

2,593,180

3,175,689

Investments

5

302

232

2,593,482

3,175,921

CURRENT ASSETS

Inventories

447,971

552,359

Debtors

6

198,188

279,342

Cash at bank and in hand

288,927

217,296

935,086

1,048,997

CREDITORS

Amounts falling due within one year

7

1,480,338

1,320,740

NET CURRENT LIABILITIES

(545,252

)

(271,743

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,048,230

2,904,178

CREDITORS

Amounts falling due after more than one year

8

(1,097,088

)

(1,546,433

)

PROVISIONS FOR LIABILITIES

(114,606

)

(176,450

)

NET ASSETS

836,536

1,181,295

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

836,436

1,181,195

SHAREHOLDERS' FUNDS

836,536

1,181,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2025 and were signed by:

Mr K N Morris - Director

1.	STATUTORY INFORMATION

Oasthouse Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost and 2% on cost

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on cost and 10% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 23 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

952,234

3,419,026

4,371,260

Additions

-

63,510

63,510

Disposals

-

(50,513

)

(50,513

)

At 31 December 2024

952,234

3,432,023

4,384,257

DEPRECIATION

At 1 January 2024

122,018

1,073,553

1,195,571

Charge for year

20,892

620,127

641,019

Eliminated on disposal

-

(45,513

)

(45,513

)

At 31 December 2024

142,910

1,648,167

1,791,077

NET BOOK VALUE

At 31 December 2024

809,324

1,783,856

2,593,180

At 31 December 2023

830,216

2,345,473

3,175,689

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

2,950,565

Additions

27,470

Disposals

(27,773

)

Transfer to ownership

(29,433

)

At 31 December 2024

2,920,829

DEPRECIATION

At 1 January 2024

734,772

Charge for year

565,784

Eliminated on disposal

(27,773

)

Transfer to ownership

(23,548

)

At 31 December 2024

1,249,235

NET BOOK VALUE

At 31 December 2024

1,671,594

At 31 December 2023

2,215,793

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

232

Impairments

70

At 31 December 2024

302

NET BOOK VALUE

At 31 December 2024

302

At 31 December 2023

232

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

148,009

174,454

Other debtors

50,179

104,888

198,188

279,342

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

21,358

18,282

Hire purchase contracts and finance leases

448,613

449,966

Trade creditors

779,044

573,461

Taxation and social security

60,148

93,153

Other creditors

171,175

185,878

1,480,338

1,320,740

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

198,749

220,951

Hire purchase contracts and finance leases

898,339

1,325,482

1,097,088

1,546,433

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

91,861

129,579

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

220,107

239,233

Hire purchase contracts and finance leases

1,346,952

1,775,448

1,567,059

2,014,681

The bank loan is secured by a legal charge over the company's freehold property.

The obligations under hire purchase contracts and finance leases are secured against the items of plant and machinery etc to which they relate together with legal charges over the company's freehold property.

The commercial finance facility is secured against the assets of the company.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr K N Morris.