Company registration number 14220179 (England and Wales)
OM MANUFACTURING LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
OM MANUFACTURING LIMITED
COMPANY INFORMATION
Director
Mr M S Evans
Company number
14220179
Registered office
Spicer House
Lincoln Road
High Wycombe
HP12 3RH
Accountants
Evelyn Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
OM MANUFACTURING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OM MANUFACTURING LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
Notes
£
£
Current assets
Stocks
27,785
Debtors
3
1
Cash at bank and in hand
2,320
30,106
Creditors: amounts falling due within one year
4
(35,399)
Net current liabilities
(5,293)
Capital and reserves
Called up share capital
5
1
Profit and loss reserves
(5,294)
Total equity
(5,293)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period 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 and signed by the director and authorised for issue on 5 April 2024
Mr M S Evans
Director
Company registration number 14220179 (England and Wales)
OM MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

OM Manufacturing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Spicer House, Lincoln Road, High Wycombe, HP12 3RH.

1.1
Reporting period

This is the company's first set of financial statements. The reporting period is 13 months from incorporation on 7 July 2022 and covers trading that commenced on 18 May 2023.

1.2
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.

1.3
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

 

Rendering of services

Revenue arises from the manufacture of furniture.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments
Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

OM MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
1.7
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
3
3
Debtors
2023
Amounts falling due within one year:
£
Other debtors
1
OM MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
- 4 -
4
Creditors: amounts falling due within one year
2023
£
Trade creditors
9,845
Taxation and social security
12,244
Other creditors
13,310
35,399
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
of £1 each
1
1
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