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REGISTERED NUMBER: 02805926 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MBM OMEGA LIMITED

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MBM OMEGA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr M J L Morton





SECRETARY: Mrs J C Morton





REGISTERED OFFICE: 1141b The Axis Centre
Cleeve Road
Leatherhead
Surrey
KT22 7RD





REGISTERED NUMBER: 02805926 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 750
Tangible assets 5 61,253 51,901
61,253 52,651

CURRENT ASSETS
Stocks 79,582 116,676
Debtors 6 783,440 709,834
Cash at bank 244,110 208,997
1,107,132 1,035,507
CREDITORS
Amounts falling due within one year 7 520,593 491,216
NET CURRENT ASSETS 586,539 544,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

647,792

596,942

CREDITORS
Amounts falling due after more than one
year

8

(295,169

)

(179,473

)

PROVISIONS FOR LIABILITIES 11 (10,600 ) (7,962 )
NET ASSETS 342,023 409,507

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 337,023 404,507
SHAREHOLDERS' FUNDS 342,023 409,507

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 his 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.

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

BALANCE SHEET - continued
31 DECEMBER 2023


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 and authorised for issue by the director and authorised for issue on 11 September 2024 and were signed by:





Mr M J L Morton - Director


MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

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

1. STATUTORY INFORMATION

MBM Omega 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 20% on cost and 15% 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.

Stock is valued on a first in first out basis.

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.

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 90,000
AMORTISATION
At 1 January 2023 89,250
Charge for year 750
At 31 December 2023 90,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 750

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 290,804
Additions 23,406
At 31 December 2023 314,210
DEPRECIATION
At 1 January 2023 238,903
Charge for year 14,054
At 31 December 2023 252,957
NET BOOK VALUE
At 31 December 2023 61,253
At 31 December 2022 51,901

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 45,900
DEPRECIATION
At 1 January 2023 765
Charge for year 9,180
At 31 December 2023 9,945
NET BOOK VALUE
At 31 December 2023 35,955
At 31 December 2022 45,135

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 184,685 205,016
Amounts owed by group undertakings 320,020 205,020
Other debtors 278,735 299,798
783,440 709,834

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 97,144 50,000
Hire purchase contracts (see note 9) 7,915 7,408
Trade creditors 204,303 203,513
Taxation and social security 33,685 30,525
Other creditors 177,546 199,770
520,593 491,216

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 265,278 141,667
Hire purchase contracts (see note 9) 29,891 37,806
295,169 179,473

Bank loans and other creditors of £362,422 (31.12.22: £191,667) above represents Coronavirus Business Interruption Loan Scheme (CBILS) and Recovery Loan Scheme loans.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 7,915 7,408
Between one and five years 29,891 37,806
37,806 45,214

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 46,200 46,200
Between one and five years 69,300 115,500
115,500 161,700

MBM OMEGA LIMITED (REGISTERED NUMBER: 02805926)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 37,806 45,214
Factoring account 144,365 -
182,171 45,214

The hire purchase contracts are secured against the assets being financed.

The factoring account is secured against the invoices being financed.

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 10,600 7,962

Deferred
tax
£   
Balance at 1 January 2023 7,962
Charge to Income Statement during year 2,638
Balance at 31 December 2023 10,600

12. RELATED PARTY DISCLOSURES

The aggregate amount owed by group undertakings at the balance sheet date is £320,020 (31.12.22: £205,020).

The aggregate amount owed by connected companies at the balance sheet date is £263,830 (31.12.22: £263,830).

During the period the company was invoiced £Nil (31.12.22: £6,000) by group undertakings for management charges.

During the period the company was invoiced £40,085 (31.12.22: £48,900) by connected entities for rent.

The aggregate amount owed to the director at the balance sheet date is £2,496 (31.12.22: £1,872).

13. ULTIMATE CONTROLLING PARTY

The controlling party is MBM Omega Holdings Limited.

The ultimate controlling party is Mr M J L Morton.