Company Registration No. 12263607 (England and Wales)
OAM Logistics Ltd
Unaudited accounts
for the year ended 31 October 2023
OAM Logistics Ltd
Unaudited accounts
Contents
OAM Logistics Ltd
Company Information
for the year ended 31 October 2023
Company Number
12263607 (England and Wales)
Registered Office
26 Ashford Road
Stockport
Cheshire
SK4 5JX
United Kingdom
Accountants
Whyatt Accountancy
Stockport Business & Innovation Centre
Broadstone Mill, Broadstone Road
Stockport
Cheshire
SK5 7DL
OAM Logistics Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
7,472
11,970
Cash at bank and in hand
3,129
3,662
Creditors: amounts falling due within one year
(13,371)
(15,953)
Net current assets
5,030
3,802
Total assets less current liabilities
12,502
15,772
Creditors: amounts falling due after more than one year
(10,579)
(10,603)
Provisions for liabilities
Deferred tax
(1,420)
(2,274)
Called up share capital
1
1
Profit and loss account
502
2,894
Shareholders' funds
503
2,895
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2024 and were signed on its behalf by
Daniel Mannion
Director
Company Registration No. 12263607
OAM Logistics Ltd
Notes to the Accounts
for the year ended 31 October 2023
OAM Logistics Ltd is a private company, limited by shares, registered in England and Wales, registration number 12263607. The registered office is 26 Ashford Road, Stockport, Cheshire, SK4 5JX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 3-5 years (straight line basis)
Motor vehicles
over 5 years (straight line basis)
Fixtures & fittings
over 3-5 years (straight line basis)
Computer equipment
over 3 years (straight line basis)
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
OAM Logistics Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
673
19,590
1,197
349
21,809
At 31 October 2023
673
19,590
1,197
349
21,809
At 1 November 2022
143
9,142
419
135
9,839
Charge for the year
224
3,918
239
117
4,498
At 31 October 2023
367
13,060
658
252
14,337
At 31 October 2023
306
6,530
539
97
7,472
At 31 October 2022
530
10,448
778
214
11,970
Amounts falling due within one year
Accrued income and prepayments
3,064
-
Other debtors
7,641
10,873
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,092
3,678
Taxes and social security
6,764
7,946
7
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
3,396
-
No security has been granted for the bank loans at 31 October 2023 (31 October 2022: none).
OAM Logistics Ltd
Notes to the Accounts
for the year ended 31 October 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to directors included in 'Other debtors' (note 5)
8,206
1,387
4,619
4,974
No amounts have been waived or written off in the year (2022: £Nil). The maximum amount outstanding during the year was £9,593 (2022: £9,385).
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).