Registered number
07853037
OMP STUD LIMITED
Filleted Accounts
30 April 2022
OMP STUD LIMITED
Registered number: 07853037
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 2 1,218,464 1,217,385
Current assets
Debtors 3 4,738 1,779
Cash at bank and in hand 10,598 4,279
15,336 6,058
Creditors: amounts falling due within one year 4 (1,254,826) (1,243,778)
Net current liabilities (1,239,490) (1,237,720)
Total assets less current liabilities (21,026) (20,335)
Creditors: amounts falling due after more than one year 5 (7,695) (7,972)
Net liabilities (28,721) (28,307)
Capital and reserves
Called up share capital 100 100
Profit and loss account (28,821) (28,407)
Shareholders' funds (28,721) (28,307)
Number Number
Average number of persons employed by the company - -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Carolyn Bennett Kirsty Oliver
Director Director
Approved by the board on 15 August 2022
OMP STUD LIMITED
Notes to the Accounts
for the year ended 30 April 2022
1 Accounting policies
Basis of preparation
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).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
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:
Leasehold land and buildings -
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 5 - 10% straight line
Debtors
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.
Creditors
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.
Taxation
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2021 1,137,683 173,099 1,310,782
Additions 8,511 4,432 12,943
Disposals - (4,249) (4,249)
At 30 April 2022 1,146,194 173,282 1,319,476
Depreciation
At 1 May 2021 - 93,397 93,397
Charge for the year - 11,864 11,864
On disposals - (4,249) (4,249)
At 30 April 2022 - 101,012 101,012
Net book value
At 30 April 2022 1,146,194 72,270 1,218,464
At 30 April 2021 1,137,683 79,702 1,217,385
3 Debtors 2022 2021
£ £
Trade debtors 2,400 -
Other debtors 2,338 1,779
4,738 1,779
4 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 9,447 31
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,201,573 1,201,145
Taxation and social security costs 1,572 779
Other creditors 42,234 41,823
1,254,826 1,243,778
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 7,695 7,972
6 Related party transactions
During the year the company entered into the following transactions with related parties:
Amounts due to related parties: 2022 2021
£ £
Orchard Property Investments Ltd - Parent 1,201,573 1,201,145
7 Other information
OMP STUD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Old Orchard House
59 Upper Hale Road
Farnham, Surrey
England
GU9 0NX
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