Company registration number 05334974 (England and Wales)
THE ONE OFF MELBOURNE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
THE ONE OFF MELBOURNE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE ONE OFF MELBOURNE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
588,683
518,357
Current assets
Debtors
4
3,854,442
3,436,945
Cash at bank and in hand
6,756
253,179
3,861,198
3,690,124
Creditors: amounts falling due within one year
5
(2,008,478)
(1,907,198)
Net current assets
1,852,720
1,782,926
Total assets less current liabilities
2,441,403
2,301,283
Creditors: amounts falling due after more than one year
6
(967,897)
(1,217,834)
Net assets
1,473,506
1,083,449
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,473,406
1,083,349
Total equity
1,473,506
1,083,449
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
Mr A R Devey Smith
Director
Company registration number 05334974 (England and Wales)
THE ONE OFF MELBOURNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information
The One Off Melbourne Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. The company registration number is 05334974.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services supplied during the year net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% and 25% straight line on building element
Plant and equipment
25% straight line or over life of lease
Fixtures and fittings
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE ONE OFF MELBOURNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
95
79
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2022
889,583
679,245
1,568,828
Additions
2,703
122,244
124,947
At 30 April 2023
892,286
801,489
1,693,775
Depreciation and impairment
At 1 May 2022
437,640
612,831
1,050,471
Depreciation charged in the year
9,536
45,085
54,621
At 30 April 2023
447,176
657,916
1,105,092
Carrying amount
At 30 April 2023
445,110
143,573
588,683
At 30 April 2022
451,943
66,414
518,357
THE ONE OFF MELBOURNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,374,703
1,516,473
Corporation tax recoverable
27,006
Other debtors
2,479,739
1,893,466
3,854,442
3,436,945
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
431,767
371,492
Trade creditors
354,577
399,321
Amounts owed to group undertakings
74,800
82,241
Corporation tax
198,085
250,548
Other taxation and social security
253,970
227,588
Other creditors
695,279
576,008
2,008,478
1,907,198
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
855,232
1,217,834
Other creditors
112,665
967,897
1,217,834
7
Transactions with directors
Net advances of £151,734 were made to a director during the year. Interest of £9,647 was charged on the overdrawn balance at HMRC official rates. The balance is repayable on demand.