Registration number:
Overseas Contracting LTD
for the Year Ended 31 December 2024
Overseas Contracting LTD
(Registration number: 08492654)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
12,000 |
12,000 |
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Retained earnings |
31,964 |
41,585 |
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Shareholders' funds |
43,964 |
53,585 |
Approved and authorised by the
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Overseas Contracting LTD
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 presentation currency is Euro.
Going concern
The directors have considered the company’s financial position, forecast performance, and available resources for a period of at least 12 months from the date of approval of these financial statements. Based on this assessment, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties which cast significant doubt on the company’s ability to continue as a going concern.
Accordingly, the financial statements have been prepared on a going concern basis.
Overseas Contracting LTD
Notes to the Financial Statements for the Year Ended 31 December 2024
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
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Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
The presentation currency is Euro.
Non-monetary items measured in terms of historical cost in a non-euro currency are not retranslated.
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 merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Overseas Contracting LTD
Notes to the Financial Statements for the Year Ended 31 December 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Auditors' remuneration |
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2024 |
2023 |
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Audit of the financial statements |
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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- |
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Overseas Contracting LTD
Notes to the Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
€ |
No. |
€ |
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12,000 |
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12,000 |
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Parent and ultimate parent undertaking |
The company's immediate parent is