5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 11,000 11,000 xbrli:pure xbrli:shares iso4217:GBP 06460849 2023-01-01 2023-12-31 06460849 2023-12-31 06460849 2022-12-31 06460849 2022-01-01 2022-12-31 06460849 2022-12-31 06460849 2021-12-31 06460849 core:NetGoodwill 2023-01-01 2023-12-31 06460849 core:MotorVehicles 2023-01-01 2023-12-31 06460849 bus:Director1 2023-01-01 2023-12-31 06460849 core:NetGoodwill 2023-12-31 06460849 core:MotorVehicles 2023-12-31 06460849 core:WithinOneYear 2023-12-31 06460849 core:WithinOneYear 2022-12-31 06460849 core:AfterOneYear 2023-12-31 06460849 core:AfterOneYear 2022-12-31 06460849 core:ShareCapital 2023-12-31 06460849 core:ShareCapital 2022-12-31 06460849 core:RetainedEarningsAccumulatedLosses 2023-12-31 06460849 core:RetainedEarningsAccumulatedLosses 2022-12-31 06460849 bus:SmallEntities 2023-01-01 2023-12-31 06460849 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06460849 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06460849 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06460849 bus:FullAccounts 2023-01-01 2023-12-31 06460849 core:PlantMachinery 2023-01-01 2023-12-31 06460849 core:PlantMachinery 2022-12-31 06460849 core:PlantMachinery 2023-12-31
COMPANY REGISTRATION NUMBER: 06460849
Oscar Products Limited
Unaudited financial statements
31 December 2023
Oscar Products Limited
Statement of financial position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
4,745
60
Current assets
Stocks
63,559
85,976
Debtors
7
104,451
81,461
Cash at bank and in hand
25,809
36,159
---------
---------
193,819
203,596
Creditors: Amounts falling due within one year
8
( 163,184)
( 194,345)
---------
---------
Net current assets
30,635
9,251
-------
------
Total assets less current liabilities
35,380
9,311
Creditors: Amounts falling due after more than one year
9
( 15,834)
( 25,834)
Provisions
Taxation including deferred tax
( 1,186)
3,947
-------
-------
Net assets/(liabilities)
18,360
( 12,576)
-------
-------
Capital and reserves
Called up share capital
110
110
Profit and loss account
18,250
( 12,686)
-------
-------
Shareholders funds/(deficit)
18,360
( 12,576)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oscar Products Limited
Statement of financial position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
A Jamidar
Director
Company registration number: 06460849
Oscar Products Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Inca Business Park, Melford Road, Acton, Suffolk, CO10 0BB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. unhide lines if required
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Plant & machinery
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 5 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
11,000
-------
Amortisation
At 1 January 2023 and 31 December 2023
11,000
-------
Carrying amount
At 31 December 2023
-------
At 31 December 2022
-------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2023
10,841
10,841
Additions
4,834
125
4,959
------
-------
-------
At 31 December 2023
4,834
10,966
15,800
------
-------
-------
Depreciation
At 1 January 2023
10,781
10,781
Charge for the year
242
32
274
------
-------
-------
At 31 December 2023
242
10,813
11,055
------
-------
-------
Carrying amount
At 31 December 2023
4,592
153
4,745
------
-------
-------
At 31 December 2022
60
60
------
-------
-------
7. Debtors
2023
2022
£
£
Trade debtors
85,562
70,560
Other debtors
18,889
10,901
---------
-------
104,451
81,461
---------
-------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
12,303
Trade creditors
84,556
119,315
Amounts owed to group undertakings and undertakings in which the company has a participating interest
37,136
30,569
Social security and other taxes
29,017
29,283
Other creditors
2,475
2,875
---------
---------
163,184
194,345
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,834
25,834
-------
-------