Company Registration No. NI049766 (Northern Ireland)
O3 Group Ltd
Unaudited accounts
for the year ended 28 February 2025
O3 Group Ltd
Unaudited accounts
Contents
O3 Group Ltd
Company Information
for the year ended 28 February 2025
Directors
Rory O'Hare
Alison O'Hare
Company Number
NI049766 (Northern Ireland)
Registered Office
FORSYTH HOUSE
CROMAC SQUARE
BELFAST
BT2 8LA
Accountants
Stavri
C/O 65 Edenbane Road, Coleraine
Coleraine
BT51 5NA
O3 Group Ltd
Statement of financial position
as at 28 February 2025
Tangible assets
189,074
135,988
Inventories
211,619
196,941
Cash at bank and in hand
239,085
402,004
Creditors: amounts falling due within one year
(302,724)
(270,011)
Net current assets
356,288
492,978
Total assets less current liabilities
545,362
628,966
Creditors: amounts falling due after more than one year
-
(99,700)
Provisions for liabilities
Deferred tax
(14,217)
(3,416)
Net assets
531,145
525,850
Called up share capital
4
4
Profit and loss account
531,141
525,846
Shareholders' funds
531,145
525,850
For the year ending 28 February 2025 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 2 October 2025 and were signed on its behalf by
Rory O'Hare
Director
Company Registration No. NI049766
O3 Group Ltd
Notes to the Accounts
for the year ended 28 February 2025
O3 Group Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI049766. The registered office is FORSYTH HOUSE, CROMAC SQUARE, BELFAST, BT2 8LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
12-5 - 20% per annum of cost
Inventories and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
O3 Group Ltd
Notes to the Accounts
for the year ended 28 February 2025
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
At 28 February 2025
280,025
Charge for the year
20,093
At 28 February 2025
90,951
At 28 February 2025
189,074
At 29 February 2024
135,988
Amounts falling due within one year
Trade debtors
208,308
164,044
O3 Group Ltd
Notes to the Accounts
for the year ended 28 February 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
23,600
20,305
Obligations under finance leases and hire purchase contracts
124,177
27,507
Trade creditors
63,233
167,267
Taxes and social security
10,232
4,490
Other creditors
14,728
15,295
Loans from directors
15,648
1,070
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
77,987
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
9
Average number of employees
During the year the average number of employees was 14 (2024: 13).