Company Registration No. 12932186 (England and Wales)
Ogc-uk Limited
Unaudited accounts
for the year ended 31 December 2024
Ogc-uk Limited
Unaudited accounts
Contents
Ogc-uk Limited
Company Information
for the year ended 31 December 2024
Directors
Simon Osborne
Lisa Osborne
Company Number
12932186 (England and Wales)
Registered Office
7 High Street
Windsor
Berkshire
SL4 1LD
England
Accountants
James Norman Business Advisory Limited
7 High Street
Windsor
SL4 1LD
Ogc-uk Limited
Statement of financial position
as at 31 December 2024
Intangible assets
74,071
93,074
Tangible assets
327,731
357,618
Cash at bank and in hand
3,171
4,906
Creditors: amounts falling due within one year
(458,392)
(363,942)
Net current liabilities
(192,251)
(150,495)
Total assets less current liabilities
209,551
300,197
Creditors: amounts falling due after more than one year
(162,947)
(199,723)
Called up share capital
100
100
Profit and loss account
41,514
95,384
Shareholders' funds
46,604
100,474
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by
Simon Osborne
Director
Company Registration No. 12932186
Ogc-uk Limited
Notes to the Accounts
for the year ended 31 December 2024
Ogc-uk Limited is a private company, limited by shares, registered in England and Wales, registration number 12932186. The registered office is 7 High Street, Windsor, Berkshire, SL4 1LD, England.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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. The goodwill is evenly amortised over its estimated useful economic life over twenty years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
Ogc-uk Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
3
Intangible fixed assets
Goodwill
At 31 December 2024
93,074
Charge for the year
19,003
At 31 December 2024
19,003
At 31 December 2024
74,071
At 31 December 2023
93,074
Previously goodwill was not amortised, these accounts bring the amortisation up to date.
Ogc-uk Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
412,273
38,179
1,537
6,724
458,713
Additions
-
-
435
2,523
2,958
At 31 December 2024
412,273
38,179
1,972
9,247
461,671
At 1 January 2024
82,792
14,719
103
3,481
101,095
Charge for the year
30,222
152
405
2,066
32,845
At 31 December 2024
113,014
14,871
508
5,547
133,940
At 31 December 2024
299,259
23,308
1,464
3,700
327,731
At 31 December 2023
329,481
23,460
1,434
3,243
357,618
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
272,990
313,998
- Motor vehicles
17,138
22,851
Amounts falling due within one year
Trade debtors
204,563
122,139
Accrued income and prepayments
14,801
23,851
Other debtors
12,606
37,514
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
159,014
105,259
Obligations under finance leases and hire purchase contracts
74,476
64,119
Trade creditors
137,627
115,098
Taxes and social security
16,635
31,876
Other creditors
2,436
2,429
Loans from directors
14,071
442
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
162,947
199,723
Ogc-uk Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,993
5,324
Later than one year and not later than five years
-
3,993
10
Average number of employees
During the year the average number of employees was 15 (2023: 14).