| O'Hagan Transport Limited |
| Notes to the Accounts |
| for the year ended 31 October 2025 |
|
| 1 |
Accounting policies |
|
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. and is recognised by reference to the stage of completion of the contract, which is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Leasehold improvements |
over 5 years |
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Plant and machinery |
over 5 years |
|
Motor vehicles |
over 5 years |
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Work-in-progress |
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Work-in-progress is measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against the reversal of tax liabilities or other future taxable profits. Current tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
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|
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| 3 |
Tangible fixed assets |
|
|
Land and buildings |
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Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 November 2024 |
106,342 |
|
140,391 |
|
20,613 |
|
267,346 |
|
Additions |
- |
|
21,735 |
|
15,000 |
|
36,735 |
|
Disposals |
- |
|
- |
|
(7,310) |
|
(7,310) |
|
At 31 October 2025 |
106,342 |
|
162,126 |
|
28,303 |
|
296,771 |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
At 1 November 2024 |
20,603 |
|
61,774 |
|
7,047 |
|
89,424 |
|
Charge for the year |
38,791 |
|
32,641 |
|
5,661 |
|
77,093 |
|
On disposals |
- |
|
- |
|
(4,386) |
|
(4,386) |
|
At 31 October 2025 |
59,394 |
|
94,415 |
|
8,322 |
|
162,131 |
|
|
|
|
|
|
|
|
|
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Net book value |
|
At 31 October 2025 |
46,948 |
|
67,711 |
|
19,981 |
|
134,640 |
|
At 31 October 2024 |
85,739 |
|
78,617 |
|
13,566 |
|
177,922 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
310,956 |
|
379,102 |
|
Amounts owed by related parties |
|
1,258,985 |
|
1,231,985 |
|
Other debtors |
192,589 |
|
382,716 |
|
|
|
|
|
|
1,762,530 |
|
1,993,803 |
|
|
|
|
|
|
|
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|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
72,933 |
|
24,970 |
|
Amounts owed to related parties |
2,786,675 |
|
2,551,857 |
|
Taxation and social security costs |
84,596 |
|
15,274 |
|
Other creditors |
1,315,493 |
|
1,365,819 |
|
|
|
|
|
|
4,259,697 |
|
3,957,920 |
|
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|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Provision for uninsured losses |
|
|
|
|
100,000 |
|
100,000 |
|
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|
|
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Included in Other creditors is £131,417 (2024: £169,347) owing to the director. The loan bears interest at 20% on the average balance during the year. There is no fixed date of repayment. The director has confirmed that the loans will only be repaid as and when cash flow permits. |
|
|
|
| 7 |
Provisions for liabilities |
2025 |
|
2024 |
| £ |
£ |
|
Deferred taxation |
|
|
At 1 November 2024 |
- |
|
- |
|
Increase in provision |
(2,824) |
|
- |
|
|
At 31 October 2025 |
(2,824) |
|
- |
|
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| 8 |
Related party transactions |
2025 |
|
2024 |
| £ |
£ |
|
|
Darra Bridge Housing Limited (a company incorporated in Eire) |
|
Darra Bridge Housing Ltd is controlled by S N O'Hagan, Esq, the director and shareholder of O'Hagan Transport Limited |
|
Amount due from the related party |
1,244,750 |
|
1,217,750 |
|
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|
|
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Anytime Haulage Ltd |
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Anytime Haulage Ltd is controlled by S N O'Hagan, Esq, the director and shareholder of O'Hagan Transport Limited. |
|
Amount due from the related party |
14,235 |
|
14,235 |
|
|
|
|
|
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O'Hagan Transportation Ltd |
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O'Hagan Transportation Ltd is controlled by S N O'Hagan, Esq, the director and shareholder of O'Hagan Transport Limited |
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A management fee of £250,000 (2024:(£75,000) was charged for the year to O'Hagan Transportation Ltd. |
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|
An equipment hire rental charge for the year of £431,640 (2024: £640,700) net of VAT, was made by O'Hagan Transportation Ltd to O'Hagan Transport Limited. |
|
Amount due to the related party |
|
|
|
(2,195,949) |
|
(2,562,871) |
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Gilroz Ltd |
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Gilroz Ltd is controlled by S N O'Hagan, Esq, the director and shareholder of O'Hagan Transport Limited |
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During the year, rent was payable to Gilroz Limited by O'Hagan Transport Ltd of £44,000 (2024: £40,000). |
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A management fee of £0 (2024: £30,000) was charged for the year by O'Hagan Transport Ltd. |
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|
Amount due to the related party |
(62,331) |
|
(68,497) |
|
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Speedy Building Ltd |
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Speedy Building Ltd is controlled by S N O'Hagan, Esq, the director and shareholder of O'Hagan Transport Limited |
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|
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Amount due to/ from the related party |
(228,395) |
|
79,511 |
|
|
|
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HSD Asset Holdings Ltd (a company incorporated in Eire) |
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S N O'Hagan, Esq, is a director and shareholder in HSD Asset Holdings Ltd. |
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A management fee for the year of £300,000 (2024: £0) was charged by HSD Asset Holdings Ltd to O'Hagan Transport Ltd. |
|
Amount due to the related party |
(300,000) |
|
- |
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| 9 |
Controlling party |
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The company is controlled by the director who owns the entire share capital of the company. |
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| 10 |
Other information |
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O'Hagan Transport Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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|
Devonshire House |
|
Manor Way |
|
Borehamwood |
|
Hertfordshire |
|
WD6 1QQ |