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Registered number: 04642776
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 30 JUNE 2025
| FACTOR - O LIMITED
FACTOR - O LIMITED |  |
COMPANY INFORMATION
Director | Mr H R Odey
Registered number | 04642776
Registered office | Limberline Road
| Hilsea
| Portsmouth
| Hampshire
| PO3 5JF
Accountants | Menzies LLP
| Chartered Accountants
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
Bankers | National Westminster Bank Plc
| 130 Commercial Road
| Portsmouth
| Hampshire
| PO1 1ES
FACTOR - O LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 9
FACTOR - O LIMITED REGISTERED NUMBER:04642776 |  |
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 7,417 |  | 9,890
|  |  | 7,417 |  | 9,890
Current assets |  |  |  |  |
Stocks |  | 134,425 |  | 161,995 |
Debtors: amounts falling due within one year | 6 | 182,947 |  | 230,756 |
Cash at bank and in hand |  | 46,205 |  | 38,496 |
|  | 363,577 |  | 431,247 |
Creditors: amounts falling due within one year | 7 | (140,412) |  | (160,918) |
Net current assets |  |  | 223,165 |  | 270,329
Total assets less current liabilities |  |  | 230,582 |  | 280,219
Creditors: amounts falling due after more than one year | 8 |  | (23,695) |  | (29,230)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (437) |  | (437) |
|  |  | (437) |  | (437)
Net assets |  |  | 206,450 |  | 250,552
Page 1
FACTOR - O LIMITED REGISTERED NUMBER:04642776 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 JUNE 2025
|  | 2025 |  | 2024
|  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 206,350 |  | 250,452
|  |  | 206,450 |  | 250,552
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr H R Odey
Director
Date: 10 February 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Factor-O Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 25% reducing balance
|  |  |  | Office equipment | - | 25% reducing balance
|  |  |  | Other fixed assets | - | 25% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.11 | 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 are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 5
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
3. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2024 - 8).
Page 6
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 July 2024 | 236,230
| At 30 June 2025 | 236,230
| Amortisation |
| At 1 July 2024 | 236,230
| At 30 June 2025 | 236,230
| Net book value |
| At 30 June 2025 | -
| At 30 June 2024 | -
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 July 2024 | 88,492 | 9,305 | 8,687 | 106,484
| At 30 June 2025 | 88,492 | 9,305 | 8,687 | 106,484
| Depreciation |  |  |  |
| At 1 July 2024 | 79,877 | 9,218 | 7,500 | 96,595
| Charge for the year on owned assets | 2,154 | 22 | 297 | 2,473
| At 30 June 2025 | 82,031 | 9,240 | 7,797 | 99,068
| Net book value |  |  |  |
| At 30 June 2025 | 6,461 | 65 | 890 | 7,416
| At 30 June 2024 | 8,616 | 87 | 1,187 | 9,890
Page 7
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 154,163 | 200,136
| Other debtors | - | 3,471
| Prepayments and accrued income | 28,784 | 27,149
|  | 182,947 | 230,756
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,404 | 5,272
| Trade creditors | 91,016 | 107,969
| Other taxation and social security | 5,307 | 9,130
| Other creditors | 35,535 | 36,147
| Accruals and deferred income | 3,150 | 2,400
|  | 140,412 | 160,918
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 23,695 | 29,230
|  | 23,695 | 29,230
| The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Repayable by instalments | - | 2,869
|  | - | 2,869
Page 8
FACTOR - O LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
9. | Commitments under operating leases
| At 30 June 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 4,525 | 984
| 2-5 Years | 14,242 | 2,214
|  | 18,767 | 3,198
10. | Related party transactions
| At the year end, included within creditors falling due under one year were amounts due to a director amounting to £35,371 (2024 - £35,371). This loan is undated and interest free.
Page 9