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REGISTERED NUMBER: 06969687 (England and Wales)



















Omega Flex Industrial Limited

Financial Statements

for the Year Ended

31 December 2023






Omega Flex Industrial Limited (Registered number: 06969687)






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


Omega Flex Industrial Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D W Rivest
K R Hoben
M F Unger
Ms S B Asch





SECRETARY: Ms S B Asch





REGISTERED OFFICE: 100 New Bridge Street
London
EC4V 6JA





REGISTERED NUMBER: 06969687 (England and Wales)





AUDITORS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Omega Flex Industrial Limited (Registered number: 06969687)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Stocks - 87,765
Debtors 4 - 68,317
Cash at bank - 162,001
- 318,083
CREDITORS
Amounts falling due within one year 5 - 1,492,366
NET CURRENT LIABILITIES - (1,174,283 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

(1,174,283

)

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 (100 ) (1,174,383 )
SHAREHOLDERS' FUNDS - (1,174,283 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





D W Rivest - Director


Omega Flex Industrial Limited (Registered number: 06969687)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Omega Flex Industrial 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.

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.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The accounts have been prepared under the going concern basis as the company has the continued support of the Omega Flex Inc group as it is being used as a platform to launch the products of the parent undertaking into the UK and European markets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Omega Flex Industrial Limited (Registered number: 06969687)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 28,435
Tax - 35,305
VAT - 4,577
- 68,317

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 4,563
Amounts owed to group undertakings - 1,477,820
Accrued expenses - 9,983
- 1,492,366

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

7. RESERVES
Retained
earnings
£   

At 1 January 2023 (1,174,383 )
Profit for the year 1,174,283
At 31 December 2023 (100 )

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Geoffrey Gilbert FCA (Senior Statutory Auditor)
for and on behalf of Moffat Gilbert

9. RELATED PARTY DISCLOSURES

During the year, the company incurred administration and management charges from Omega Flex Ltd, an associated undertaking, at a cost of £4,016 (2022 £14,762). The company also received further financial assistance whilst the business was arranging its financial affairs. Interest was charged on the balance owed during the year in the amount of £9,357.

10. ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of OmegaFlex Inc, a company registered at 451 Creamery Way, Exton, PA 19341, USA.