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REGISTERED NUMBER: 11112962 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OMG TRADING LIMITED

OMG TRADING LIMITED (REGISTERED NUMBER: 11112962)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OMG TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Miss M J Halleron





REGISTERED OFFICE: 5 Giffard Court
Millbrook Close
Northampton
NN5 5JF





REGISTERED NUMBER: 11112962 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

OMG TRADING LIMITED (REGISTERED NUMBER: 11112962)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,407 50,591

CURRENT ASSETS
Stocks 25,262 27,403
Debtors 5 56,773 132,406
Cash at bank and in hand 24,621 24,629
106,656 184,438
CREDITORS
Amounts falling due within one year 6 126,011 189,681
NET CURRENT LIABILITIES (19,355 ) (5,243 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,052

45,348

CREDITORS
Amounts falling due after more than one year 7 (24,074 ) (13,000 )

PROVISIONS FOR LIABILITIES - (4,512 )
NET ASSETS 1,978 27,836

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,878 27,736
1,978 27,836

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

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

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





Miss M J Halleron - Director


OMG TRADING LIMITED (REGISTERED NUMBER: 11112962)

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

1. STATUTORY INFORMATION

OMG Trading Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Website - Straight line over 3 years
Motor vehicles - 20% on reducing balance
Computer equipment - 25% 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 Statement of Income and Retained Earnings, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

OMG TRADING LIMITED (REGISTERED NUMBER: 11112962)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
Website vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 105,017 2,739 2,608 110,364
Additions - 21,480 1,456 22,936
Disposals - (2,739 ) - (2,739 )
At 31 December 2023 105,017 21,480 4,064 130,561
DEPRECIATION
At 1 January 2023 57,287 1,234 1,252 59,773
Charge for year 25,496 769 761 27,026
Eliminated on disposal - (1,645 ) - (1,645 )
At 31 December 2023 82,783 358 2,013 85,154
NET BOOK VALUE
At 31 December 2023 22,234 21,122 2,051 45,407
At 31 December 2022 47,730 1,505 1,356 50,591

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,673 130,309
Other debtors 14,100 2,097
56,773 132,406

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,200 5,200
Hire purchase contracts 4,155 -
Trade creditors 82,164 103,675
Taxation and social security 8,083 11,596
Other creditors 26,409 69,210
126,011 189,681

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,800 13,000
Hire purchase contracts 16,274 -
24,074 13,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 20,429 -