European OGD Limited 02819343 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of wholesale of chemical products. Digita Accounts Production Advanced 6.30.9574.0 true 02819343 2023-01-01 2023-12-31 02819343 2023-12-31 02819343 core:CurrentFinancialInstruments 2023-12-31 02819343 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02819343 core:FurnitureFittingsToolsEquipment 2023-12-31 02819343 core:MotorVehicles 2023-12-31 02819343 bus:SmallEntities 2023-01-01 2023-12-31 02819343 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02819343 bus:FullAccounts 2023-01-01 2023-12-31 02819343 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02819343 bus:RegisteredOffice 2023-01-01 2023-12-31 02819343 bus:Director1 2023-01-01 2023-12-31 02819343 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02819343 core:FurnitureFittings 2023-01-01 2023-12-31 02819343 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02819343 core:MotorVehicles 2023-01-01 2023-12-31 02819343 countries:EnglandWales 2023-01-01 2023-12-31 02819343 2022-12-31 02819343 core:FurnitureFittingsToolsEquipment 2022-12-31 02819343 core:MotorVehicles 2022-12-31 02819343 2022-01-01 2022-12-31 02819343 2022-12-31 02819343 core:CurrentFinancialInstruments 2022-12-31 02819343 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02819343 core:FurnitureFittingsToolsEquipment 2022-12-31 02819343 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02819343

European OGD Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

European OGD Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 3

 

European OGD Limited

(Registration number: 02819343)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,374

25,586

Current assets

 

Stocks

179,000

214,900

Debtors

5

99,615

150,548

Cash at bank and in hand

 

117,279

128,861

 

395,894

494,309

Creditors: Amounts falling due within one year

6

(726,356)

(771,825)

Net current liabilities

 

(330,462)

(277,516)

Net liabilities

 

(310,088)

(251,930)

Capital and reserves

 

Called up share capital

120,000

120,000

Retained earnings

(430,088)

(371,930)

Shareholders' deficit

 

(310,088)

(251,930)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 March 2024 and signed on its behalf by:
 

.........................................
Mr Richard Lee
Director

 

European OGD Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Nortonthorpe Mills
Scissett
Huddersfield
West Yorkshire
HD8 9LA

These financial statements were authorised for issue by the Board on 8 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, despite the company being technically insolvent at 31 December 2023. At the balance sheet date the company had net liabilities of £310,088 (2022 - £251,930). This is on the basis of the continued support of the related party, Oriental Giant Dyes and Chemical Ind. Corp. to whom the company owes £582,953 (2022 - £628,486). On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the related party.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line basis (fully written off)

Motor vehicles

20% straight line basis

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

European OGD Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

30,207

28,429

58,636

At 31 December 2023

30,207

28,429

58,636

Depreciation

At 1 January 2023

30,207

2,843

33,050

Charge for the year

-

5,212

5,212

At 31 December 2023

30,207

8,055

38,262

Carrying amount

At 31 December 2023

-

20,374

20,374

At 31 December 2022

-

25,586

25,586

5

Debtors

2023
£

2022
£

Trade debtors

92,312

143,512

Other debtors

7,303

7,036

99,615

150,548

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

624,008

663,761

Taxation and social security

2,120

2,116

Other creditors

100,228

105,948

726,356

771,825