IRIS Accounts Production v24.1.9.2 12602810 Board of Directors Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh126028102022-10-31126028102023-10-31126028102022-11-012023-10-31126028102021-10-31126028102021-11-012022-10-31126028102022-10-3112602810ns15:EnglandWales2022-11-012023-10-3112602810ns14:PoundSterling2022-11-012023-10-3112602810ns10:Director12022-11-012023-10-3112602810ns10:Director22022-11-012023-10-3112602810ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3112602810ns10:SmallEntities2022-11-012023-10-3112602810ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3112602810ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3112602810ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3112602810ns10:AbridgedAccounts2022-11-012023-10-3112602810ns10:RegisteredOffice2022-11-012023-10-3112602810ns5:CurrentFinancialInstruments2023-10-3112602810ns5:CurrentFinancialInstruments2022-10-3112602810ns5:ShareCapital2023-10-3112602810ns5:ShareCapital2022-10-3112602810ns5:RetainedEarningsAccumulatedLosses2023-10-3112602810ns5:RetainedEarningsAccumulatedLosses2022-10-3112602810ns5:PlantMachinery2022-11-012023-10-3112602810ns5:FurnitureFittings2022-11-012023-10-3112602810ns5:ComputerEquipment2022-11-012023-10-31
REGISTERED NUMBER: 12602810 (England and Wales)












ONYX PEARL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






ONYX PEARL LTD (REGISTERED NUMBER: 12602810)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ONYX PEARL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: L Simpson
Mrs D J Simpson





REGISTERED OFFICE: 166 Lancaster Road
Carnforth
LA5 9EF





REGISTERED NUMBER: 12602810 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP

ONYX PEARL LTD (REGISTERED NUMBER: 12602810)

ABRIDGED BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,736 19,275

CURRENT ASSETS
Stocks 120,214 139,252
Debtors 16,919 37,989
Cash at bank 9,735 28,801
146,868 206,042
CREDITORS
Amounts falling due within one year 180,949 213,146
NET CURRENT LIABILITIES (34,081 ) (7,104 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,345

)

12,171

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (23,347 ) 12,169
SHAREHOLDERS' FUNDS (23,345 ) 12,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

ONYX PEARL LTD (REGISTERED NUMBER: 12602810)

ABRIDGED BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




Mrs D J Simpson - Director



L Simpson - Director


ONYX PEARL LTD (REGISTERED NUMBER: 12602810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Onyx Pearl Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, the validity of which may be inappropriate as at 31 October 2023, the company's total liabilities exceeded its total assets by £23,345. The financial statements do not include any adjustment that may result from the company ceasing to trade. The directors have lent £173,493 to the company and have indicated that they do not require these funds to be repaid at present.

The financial statements are presented in Sterling (£). Monetary values in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33.3% on cost, 20% on cost and 10% on cost
Fixtures and fittings - 33.3% on cost, 20% on cost and 10% on cost
Computer equipment - 33.3% on 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 Income Statement, 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.


ONYX PEARL LTD (REGISTERED NUMBER: 12602810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 23,580
Additions 400
Disposals (6,555 )
At 31 October 2023 17,425
DEPRECIATION
At 1 November 2022 4,305
Charge for year 3,477
Eliminated on disposal (1,093 )
At 31 October 2023 6,689
NET BOOK VALUE
At 31 October 2023 10,736
At 31 October 2022 19,275