pinacle 6.0
2017.03.01
Overhaul Limited
4798984
2017-11-01
2018-10-31
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4798984
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FILLETED FINANCIAL STATEMENTS
|
YEAR ENDED 31 OCTOBER 2018
|
COMPANY REGISTRATION NUMBER - 4798984
|
|
1. |
OVERHAUL LIMITED
|
COMPANY NUMBER - 4798984
|
|
BALANCE SHEET AS AT
31 OCTOBER 2018
|
|
|
|
Notes |
£ |
£ |
£ |
£ |
FIXED ASSETS
|
|
Tangible assets |
4 |
|
893,672
|
|
875,845
|
|
Investments-Joint Property |
|
|
Syndicates |
5 |
|
- |
|
2,520 |
|
|
|
|
|
|
|
|
|
893,672
|
|
878,365
|
CURRENT ASSETS
|
|
Debtors |
6 |
7,124
|
|
27,997
|
|
|
Investments |
7 |
-
|
|
50,000
|
|
|
Cash at bank and in hand |
|
101,150
|
|
38,124
|
|
|
|
|
|
|
|
|
108,274
|
|
116,121
|
CURRENT LIABILITIES
|
|
CREDITORS - Amounts |
falling due within one year |
8 |
282,145
|
|
84,957
|
|
|
|
|
|
|
NET CURRENT (LIABILITIES) ASSETS
|
|
|
(173,871) |
|
31,164
|
|
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
|
719,801
|
|
909,529
|
|
CREDITORS - Amounts falling |
|
|
due after more than one year |
8 |
106,179
|
|
318,179
|
|
Provisions for liabilities
|
|
|
Deferred taxation |
9 |
76,603 |
|
76,603 |
|
|
|
|
|
|
|
|
(182,782) |
|
(394,782) |
|
|
|
|
|
|
NET ASSETS
|
|
|
537,019
|
|
514,747
|
|
|
|
|
|
|
|
|
2. |
OVERHAUL LIMITED
|
COMPANY NUMBER - 4798984
|
|
BALANCE SHEET AS AT
31 OCTOBER 2018
|
|
|
|
|
|
2018 |
|
2017 |
|
|
|
---- |
|
---- |
|
Notes |
|
£ |
|
£ |
CAPITAL AND RESERVES
|
|
Called up share capital |
|
|
5
|
|
5
|
|
Profit - Not distributable |
|
|
305,126 |
|
305,126 |
|
Profit and Loss account |
|
|
231,888 |
|
209,616 |
|
|
|
|
|
|
SHAREHOLDERS' FUNDS
|
|
|
537,019
|
|
514,747
|
|
|
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.
For the financial year ended 31 October 2018, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Approved by the board of directors on26 July 2019
|
|
and signed on their behalf by: |
|
|
J SALOMON
|
The notes on pages 3 to 6 form an integral part of these accounts.
|
|
3. |
OVERHAUL LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2018
|
|
|
1. COMPANY INFORMATION
|
|
Overhaul Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 4798984.
The company's registered office is 2nd Floor-Parkgates, Bury New Road, Prestwich, Manchester M25 0TL.
|
2. ACCOUNTING POLICIES
|
|
BASIS OF ACCOUNTING
|
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable. Turnover is reduced for estimated rebates and other similar allowances.
Investment property is carried at fair value as determined by the directors. Revaluation surpluses and deficits are recognised in the profit and loss account. Deferred taxation is provided on these gains or losses at the rate that is expected to apply to them when the property is sold.
|
TANGIBLE FIXED ASSETS AND DEPRECIATION
|
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery - 25% reducing balance
Fixtures and fittings - 20% reducing balance
No depreciation is provided on freehold land.
Taxation represents the sum of tax currently payable and deferred tax. 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 all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. 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.
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discount basis.
|
4. |
OVERHAUL LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2018
|
|
|
FINANCIAL INSTRUMENTS
|
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The average number of persons employed by the company (including directors) during the year was 2 (2017 - 2).
4. FIXED ASSETS - TANGIBLE
|
|
|
Plant |
Fixtures |
|
Freehold |
and |
and |
Total |
|
cost |
machinery |
Fittings |
|
-------- |
--------- |
-------- |
----- |
Fair value
|
£
|
£
|
£
|
£
|
At 1 November 2017 |
868,458
|
34,510
|
-
|
902,968 |
Additions |
16,704
|
-
|
3,397
|
20,101 |
|
|
|
|
|
At 31 October 2018 |
885,162 |
34,510 |
3,397 |
923,069 |
|
|
|
|
|
|
Depreciation
|
At 1 November 2017 |
-
|
27,123
|
-
|
27,123 |
Charge for year |
-
|
1,847
|
427
|
2,274 |
|
|
|
|
|
At 31 October 2018 |
- |
28,970 |
427 |
29,397 |
|
|
|
|
|
|
Net book values
|
At 31 October 2018 |
885,162 |
5,540 |
2,970 |
893,672
|
|
|
|
|
|
At 1 November 2017 |
868,458 |
7,387 |
- |
875,845 |
|
|
|
|
|
|
|
The historical cost of the freehold properties |
included at valuation are as follows: |
£ |
Cost
|
At 1 November 2017 |
487,051 |
Additions |
34,510 |
|
|
At 31 October 2018 |
521,561 |
|
|
|
|
Net book amounts
|
At 31 October 2018 |
521,561 |
|
|
|
At 1 November 2017 |
487,051 |
|
|
|
|
5. |
OVERHAUL LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2018
|
|
|
5. INVESTMENTS IN JOINT SYNDICATES
|
Investment at 1 November 2017 |
2,520 |
|
|
|
2,520 |
Repaid |
(2,520) |
|
|
|
|
|
|
|
|
2018 |
|
2017 |
|
---- |
|
---- |
|
£ |
|
£ |
6. DEBTORS
|
|
Due within one year: |
Trade debtors |
-
|
|
14,797
|
Other debtors |
7,124 |
|
13,200 |
|
|
|
|
|
7,124
|
|
27,997
|
|
|
|
|
|
7. INVESTMENTS
|
|
Unlisted |
|
Investments |
|
£ |
Cost |
Additions |
50,000 |
Disposals |
(50,000) |
|
|
At 31 October 2018 |
|
|
|
|
Unlisted investments
|
Unlisted investments comprise an investment in US Solar Projects Ltd |
|
|
|
|
|
|
|
6. |
OVERHAUL LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2018
|
|
|
|
2018 |
|
2017 |
|
---- |
|
---- |
|
£ |
|
£ |
8. CREDITORS
|
|
Amounts falling due within one year: |
Bank loans-Secured |
210,701
|
|
18,000
|
Trade creditors |
8,334
|
|
5,521
|
Other creditors: |
Corporation tax |
12,551
|
|
5,172
|
Other taxation and social security |
13,008
|
|
13,309
|
Other |
35,000
|
|
40,880
|
Accruals and deferred income |
2,551
|
|
2,075
|
|
|
|
|
|
282,145 |
|
84,957 |
|
|
|
|
|
Amounts falling due after one year: |
Other creditors: |
Bank Loans-Secured |
106,179
|
|
318,179
|
|
|
|
|
|
9. DEFERRED TAXATION
|
|
At 1 November 2017 |
76,603 |
|
76,281 |
Charged to profit and loss account |
- |
|
322 |
|
|
|
|
At 31 October 2018 |
76,603 |
|
76,603 |
|
|
|
|
|