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REGISTERED NUMBER: 10652592 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

O'Brien Metals Ltd

O'Brien Metals Ltd (Registered number: 10652592)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


O'Brien Metals Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mrs L M O'Brien





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





REGISTERED NUMBER: 10652592 (England and Wales)





ACCOUNTANTS: Andrew R Cook Chartered Accountants
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

O'Brien Metals Ltd (Registered number: 10652592)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,636 119,514

CURRENT ASSETS
Stocks 35,800 30,300
Debtors 5 15,995 -
51,795 30,300
CREDITORS
Amounts falling due within one year 6 87,867 66,598
NET CURRENT LIABILITIES (36,072 ) (36,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,564

83,216

CREDITORS
Amounts falling due after more than one
year

7

57,453

71,242
NET ASSETS 9,111 11,974

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 9,110 11,973
SHAREHOLDERS' FUNDS 9,111 11,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

O'Brien Metals Ltd (Registered number: 10652592)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 July 2022 and were signed by:





Mrs L M O'Brien - Director


O'Brien Metals Ltd (Registered number: 10652592)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

O'Brien Metals Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

O'Brien Metals Ltd (Registered number: 10652592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2021
and 31 March 2022 121,521 55,150 176,671
DEPRECIATION
At 1 April 2021 33,996 23,161 57,157
Charge for year 11,881 4,997 16,878
At 31 March 2022 45,877 28,158 74,035
NET BOOK VALUE
At 31 March 2022 75,644 26,992 102,636
At 31 March 2021 87,525 31,989 119,514

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Other debtors 15,995 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 21,291 15,322
Other creditors 3,000 3,730
Tax 18,645 13,195
VAT 42,949 28,879
Directors' current accounts 1,982 5,472
87,867 66,598

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 2-5 years 41,620 50,000
Hire purchase contracts 15,833 21,242
57,453 71,242

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
1 Ordinary 1 1 1

O'Brien Metals Ltd (Registered number: 10652592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. RESERVES
Retained
earnings
£   

At 1 April 2021 11,973
Profit for the year 17,137
Dividends (20,000 )
At 31 March 2022 9,110

10. RELATED PARTY DISCLOSURES

During the year the director Mrs L M O'Brien made net withdrawals from her account of £3,490. The balance on her account at 31 March 22 was £1,982 in credit (2021 - £5,472 in credit).

During the year Mrs L M O'Brien received net dividends from the company £20,000 (2021 - £35,000).