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Company No: 10442546 (England and Wales)

O.R.M PRODUCTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

O.R.M PRODUCTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

O.R.M PRODUCTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
O.R.M PRODUCTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR P A Fairhurst
SECRETARY C Fairhurst
REGISTERED OFFICE 5 Passage Street
Fowey
PL23 1DE
United Kingdom
COMPANY NUMBER 10442546 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
O.R.M PRODUCTS LIMITED

BALANCE SHEET

As at 31 October 2023
O.R.M PRODUCTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 179 238
179 238
Current assets
Debtors 4 3,805 9,692
Cash at bank and in hand 5 182 226
3,987 9,918
Creditors: amounts falling due within one year 6 ( 6,260) ( 9,445)
Net current (liabilities)/assets (2,273) 473
Total assets less current liabilities (2,094) 711
Provision for liabilities 0 ( 45)
Net (liabilities)/assets ( 2,094) 666
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 2,194 ) 566
Total shareholders' (deficit)/funds ( 2,094) 666

For the financial 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.

Director's responsibilities:

The financial statements of O.R.M Products Limited (registered number: 10442546) were approved and authorised for issue by the Director on 31 July 2024. They were signed on its behalf by:

P A Fairhurst
Director
O.R.M PRODUCTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
O.R.M PRODUCTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

O.R.M Products Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Passage Street, Fowey, PL23 1DE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and is recognised as the service is delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2022 566 566
At 31 October 2023 566 566
Accumulated depreciation
At 01 November 2022 328 328
Charge for the financial year 59 59
At 31 October 2023 387 387
Net book value
At 31 October 2023 179 179
At 31 October 2022 238 238

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 3,306 7,646
Other debtors 499 2,046
3,805 9,692

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 182 226

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 5,003 7,945
Other creditors 1,257 1,500
6,260 9,445

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary share capital shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Due by the director at the start of the year 1,780 3,624
Advances to the director 0 8,634
Repayments (1,780) (10,478)
Due by the director at the end of the year 0 1,780