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REGISTERED NUMBER: 11986732 (England and Wales)















Occam Group Ltd

Unaudited Financial Statements for the Year Ended 31 May 2024






Occam Group Ltd (Registered number: 11986732)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Occam Group Ltd

Company Information
for the year ended 31 May 2024







DIRECTORS: C P Brooking
N J Yates





REGISTERED OFFICE: One New Street
Wells
Somerset
BA5 2LA





REGISTERED NUMBER: 11986732 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Occam Group Ltd (Registered number: 11986732)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 10,102 4,901

CURRENT ASSETS
Stocks 60,762 80,176
Debtors 4 107,341 33,080
Cash at bank and in hand 494,272 153,537
662,375 266,793
CREDITORS
Amounts falling due within one year 5 275,325 78,895
NET CURRENT ASSETS 387,050 187,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

397,152

192,799

PROVISIONS FOR LIABILITIES 1,987 431
NET ASSETS 395,165 192,368

CAPITAL AND RESERVES
Called up share capital 6 215 210
Share premium 1,225 -
Retained earnings 393,725 192,158
SHAREHOLDERS' FUNDS 395,165 192,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Occam Group Ltd (Registered number: 11986732)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





C P Brooking - Director


Occam Group Ltd (Registered number: 11986732)

Notes to the Financial Statements
for the year ended 31 May 2024

1. 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.
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

Occam Group Ltd (Registered number: 11986732)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2023 10,065 483 10,548
Additions 11,544 - 11,544
At 31 May 2024 21,609 483 22,092
DEPRECIATION
At 1 June 2023 5,363 284 5,647
Charge for year 6,246 97 6,343
At 31 May 2024 11,609 381 11,990
NET BOOK VALUE
At 31 May 2024 10,000 102 10,102
At 31 May 2023 4,702 199 4,901

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,317 26,193
Other debtors 20,024 6,887
107,341 33,080

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,028 7,596
Taxation and social security 245,422 64,298
Other creditors 3,875 7,001
275,325 78,895

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
5 Ordinary C £1 5 5
5 Ordinary D £1 5 5
5 Ordinary E £1 5 -
215 210

The following shares were issued during the year:

5 Ordinary E shares of £1 for cash of £ 1,230

Occam Group Ltd (Registered number: 11986732)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

7. FIRST YEAR ADOPTION

The company adopted FRS102 1A from 01 June 2022 and FRS102 1A requires deferred tax to be accounted for on taxation timing differences.
Following adoption no deferred tax provision was required at 01 June 2022. A deferred tax provision of £431 is required as at 31 May 2023.
Under FRS105 equity was reported as £192,589 and restated under FRS102 1A as £192,368 at 31 May 2023.