OWLVUE LTD Accounts






OWLVUE LTD

	Company No. 10720878
		Information for Filing with The Registrar
		30 April 2025

The Director presents his report and the accounts for the year ended 30 April 2025.

Principal activities
The principal activity of the company during the year under review was installation of aftermarket equipment for commercial vehicles.




Director

The Director who served at any time during the year was as follows:

S.J. Trotman









































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

S.J. Trotman
Director
29 April 2026

at	30 April 2025
Company No.		10720878	Notes	2025	2024
				£	£
					Restated
Fixed assets

	Tangible assets		5	149,615	215,835

	Investments		6	-	190,042
				149,615	405,877
Current assets
	Stocks		7	7,480	19,425
	Debtors		8	702,726	506,620

	Cash at bank and in hand			22,348	430,420
				732,554	956,465
Creditors: Amount falling due within one year			9	(703,705)	(387,050)
Net current assets				28,849	569,415
Total assets less current liabilities				178,464	975,292
Creditors: Amounts falling due after more than one year			10	(129,613)	(174,093)
Provisions for liabilities
	Deferred taxation			(30,231)	-

Net assets				18,620	801,199

Capital and reserves
	Called up share capital			204	204



	Profit and loss account		12	18,416	800,995

Total equity				18,620	801,199



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 April 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 29 April 2026 and signed on its behalf by:
S.J. Trotman
Director
29 April 2026

for the year ended 30 April 2025

General information

OWLVUE LTD is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 10720878

Its registered office is:

Penycae

Aberfields View

Nantymoel

Bridgend

CF32 7SJ

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• 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 economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% Straight line

Motor vehicles

25 / 20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Items of income or expenses of exceptional size or incidence
			2025	2024
			£	£
		During the year, the company disposed of its entire interest in P. D. Morgan Limited, a subsidiary company, for a total consideration of £60,000, resulting in a loss on disposal.	130,042	-

4	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	47	39

5	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
				Restated
		Cost or revaluation
		At 1 May 2024	19,344	296,259	8,931	324,534
		Additions	1,442	-	-	1,442



		At 30 April 2025	20,786	296,259	8,931	325,976
		Depreciation
		At 1 May 2024	11,824	96,356	519	108,699
		Charge for the year	4,717	60,712	2,233	67,662



		At 30 April 2025	16,541	157,068	2,752	176,361
		Net book values
		At 30 April 2025	4,245	139,191	6,179	149,615
		At 30 April 2024	7,520	199,903	8,412	215,835

6	Investments
			Investment in Subsidiaries	Total
			£	£
		Cost or valuation
		At 1 May 2024	190,042	190,042


		Disposals	(190,042)	(190,042)
		At 30 April 2025	-	-
		Provisions/Impairment





		Net book values
		At 30 April 2025	-	-
		At 30 April 2024	190,042	190,042

7	Stocks
			2025	2024
			£	£
		Raw materials and consumables	7,480	19,425


			7,480	19,425

8	Debtors
			2025	2024
			£	£
		Trade debtors	681,171	493,251


		Deferred tax asset	-	4,923


		Other debtors	-	8,446
		Prepayments and accrued income	21,555	-
			702,726	506,620

9	Creditors:
		amounts falling due within one year
			2025	2024
			£	£

				Restated
		Bank loans and overdrafts	10,242	10,243

		Obligations under finance lease and hire purchase contracts	40,253	40,253


		Taxes and social security	277,822	240,909

		Other creditors	311,087	90,230
		Accruals and deferred income	64,301	5,415
			703,705	387,050

10	Creditors:
		amounts falling due after more than one year
			2025	2024
			£	£

				Restated
		Bank loans and overdrafts	3,091	13,091

		Obligations under finance lease and hire purchase contracts	126,522	161,002




			129,613	174,093

Share Capital

102 ORD A £1 shares and 102 ORD B £1 shares allocated, called up and fully paid.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

13	Dividends
			2025	2024
			£	£
		Dividends for the period:
		Dividends paid in the period	-	-
		Dividends accrued at the period end	385,000	9,650
			385,000	9,650

		Dividends by type:

		Equity dividends	385,000	9,650
			385,000	9,650

Prior year adjustment

During the year, it was identified that two lease agreements that had been entered into on 22 September 2022 and 15 October 2022 had been incorrectly classified as operating leases. A review of the lease terms concluded that the agreement should have been classified as finance leases in accordance with Section 20 of FRS 102 as they transfer substantially all risks and rewards of ownership to the company. As a result , the financial statements for the YE 30 April 2025 have been restated to recognise the leased assets and the corresponding finance lease liabilities. The impact of this change on the prior periods are as follows:

Impact on previous reported figures

Balance Sheet

Increase on tangible fixed assets (net book value)

177,658

Increase in finance lease liabilities:

201,555

Decrease in retained earnings

23,597

Profit and Loss

Decrease in administrative expenses ( reversal of operating lease charges)

40,253

Increase in depreciation

53,287

Increase in finance costs

5,773

Net Decrease in profit

18,817

Opening balances reserves

The opening balances as at 1 May 2023 have been adjusted to recognise the finance lease assets and liabilities from the leases commencement date and to reflect the cumulative depreciation and finance costs up to that date.