Severe right Ore sets and universal localisation

We introduce the notion of a severe right Ore set in the main as a tool to study universal localisations of rings but also to provide a short proof of P. M. Cohn's classification of homomorphisms from a ring to a division ring. We prove that the category of finitely presented modules over a universal localisation is equivalent to a localisation at a severe right Ore set of the category of finitely presented modules over the original ring. This allows us to describe the structure of finitely presented modules over the universal localisation as modules over the original ring.