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REGISTERED NUMBER: 05397541 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Yorkshire Paints-Ozchem Limited

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)






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


Yorkshire Paints-Ozchem Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr P Haigh
Mrs E A Haigh
Mr J P Haigh





SECRETARY: Mrs E A Haigh





REGISTERED OFFICE: Queens Mill
Mill Street East
Dewsbury
West Yorkshire
WF12 9AQ





REGISTERED NUMBER: 05397541 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 7,500 10,000
Tangible assets 6 39,994 52,820
47,494 62,820

CURRENT ASSETS
Stocks 48,000 16,328
Debtors 7 125,554 96,135
Cash at bank and in hand 37,008 31,521
210,562 143,984
CREDITORS
Amounts falling due within one year 8 166,649 122,462
NET CURRENT ASSETS 43,913 21,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,407

84,342

CREDITORS
Amounts falling due after more than one
year

9

(37,632

)

(50,029

)

PROVISIONS FOR LIABILITIES (1,963 ) (3,845 )
NET ASSETS 51,812 30,468

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 51,712 30,368
SHAREHOLDERS' FUNDS 51,812 30,468

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

Balance Sheet - continued
31 March 2022


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 directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by:





Mr P Haigh - Director


Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

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

1. STATUTORY INFORMATION

Yorkshire Paints-Ozchem Limited 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.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods provided during the year and derives from the provision of goods falling within the company's ordinary activities. Turnover is recognised at the point of despatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

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 Statement of Income and Retained Earnings, 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.

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 50,000
AMORTISATION
At 1 April 2021 40,000
Amortisation for year 2,500
At 31 March 2022 42,500
NET BOOK VALUE
At 31 March 2022 7,500
At 31 March 2021 10,000

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

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

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2021
and 31 March 2022 14,822 8,213 65,378 88,413
DEPRECIATION
At 1 April 2021 12,074 7,174 16,345 35,593
Charge for year 412 156 12,258 12,826
At 31 March 2022 12,486 7,330 28,603 48,419
NET BOOK VALUE
At 31 March 2022 2,336 883 36,775 39,994
At 31 March 2021 2,748 1,039 49,033 52,820

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 125,237 94,056
Other debtors 317 2,079
125,554 96,135

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 5,970 5,189
Hire purchase contracts 5,645 5,645
Trade creditors 106,173 73,828
Taxation and social security 35,055 26,345
Other creditors 13,806 11,455
166,649 122,462

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 11,274 18,026
Hire purchase contracts 26,358 32,003
37,632 50,029

Yorkshire Paints-Ozchem Limited (Registered number: 05397541)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
49 A Ordinary £1 49 49
49 B Ordinary £1 49 49
2 C Ordinary £1 2 2
100 100