VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Company Registration Number: 03072565
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 10
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTOR
V B O'Brien
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Unit 4, Wychwood Business Centre
Milton Road
Shipton-Under-Wychwood
Chipping Norton
Oxon
OX7 6XU
COMPANY REGISTRATION NUMBER
03072565 England and Wales
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
Notes 2025 2024
£ £
FIXED ASSETS
Tangible assets 5 405,134 434,545
CURRENT ASSETS
Stock 517,343 826,378
Debtors 6 486,341 2,194,961
Cash at bank and in hand 25,644 88,598
1,029,328 3,109,937
CREDITORS: Amounts falling due within one year 7 415,149 2,262,524
NET CURRENT ASSETS 614,179 847,413
TOTAL ASSETS LESS CURRENT LIABILITIES 1,019,313 1,281,958
CREDITORS: Amounts falling due after more than one year 8 196,821 277,941
Provisions for liabilities and charges 16,429 21,836
NET ASSETS 806,063 982,181
CAPITAL AND RESERVES
Called up share capital 10 10
Distributable profit and loss account 806,053 982,171
SHAREHOLDER'S FUNDS 806,063 982,181
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
V B O'Brien
Director
Date approved by the board: 9 December 2025
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 GENERAL INFORMATION
Vince O'Brien Plastering Contractors Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 4, Wychwood Business Centre
Milton Road
Shipton-Under-Wychwood
Chipping Norton
Oxon
OX7 6XU
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover represents the fair value of consideration received or receivable and represents the provision of plastering services, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Buildings Straight line basis at 2% per annum
Plant and machinery Reducing balance basis at 25% per annum
Motor vehicles Reducing balance basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Long term contracts
Long term contracts have been assessed on a contract-by-contract basis and reflected in the profit and loss account by recording revenue and related costs as contract activity progresses. Revenue is ascertained in a manner appropriate to the stage of completion of the contract, calculated by reference to the costs incurred at the balance sheet date, the business and the industry in which it operates. Profit is taken on long term contracts on a prudent basis and only when the final outcome of the project is reasonably certain.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Borrowing costs
All borrowing costs are recognised in the profit and loss account in the period in which they are incurred.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
4 EMPLOYEES
The average number of persons employed by the company (including the director) during the year was:
2025 2024
Average number of employees 13 13
5 TANGIBLE ASSETS
Buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 389,388 145,292 299,005 833,685
Additions - 283 - 283
At 31 March 2025 389,388 145,575 299,005 833,968
Accumulated depreciation and impairments
At 1 April 2024 61,304 103,248 234,588 399,140
Charge for year 7,788 10,582 11,324 29,694
At 31 March 2025 69,092 113,830 245,912 428,834
Net book value
At 1 April 2024 328,084 42,044 64,417 434,545
At 31 March 2025 320,296 31,745 53,093 405,134
6 DEBTORS
2025 2024
£ £
Trade debtors - 25,906
Prepayments and accrued income 14,084 15,635
Amounts recoverable on long-term contracts - 2,127,288
Other debtors 472,257 26,132
486,341 2,194,961
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
7 CREDITORS: Amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 53,000 46,000
Trade creditors 87,206 120,117
Taxation and social security 100,536 163,895
Other creditors 174,407 1,932,512
415,149 2,262,524
8 CREDITORS: Amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 4,519 60,597
Other creditors 192,302 217,344
196,821 277,941
9 SECURED DEBTS
The company's bankers hold fixed and floating charges over all the property and assets of the company.
10 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year:
Balance at 1 April 2024 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 March 2025
£ £ £ £ £
V B O'Brien - 390,942 - - 390,942
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
VINCE O'BRIEN PLASTERING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
VOB Holdings Ltd Parent undertaking
VOB Homes Ltd Group member
During the year, the following transactions with related parties took place:
V B O'Brien
Director and shareholder 2025 2024
£ £
Advances to company The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: - 1,696,426
VOB The Crescent Ltd
Connected undertaking 2025 2024
£ £
Advances by company Amount owed by connected undertaking at year end: 55,016 -
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