IRIS Accounts Production v24.2.0.383 00428145 Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004281452022-12-31004281452023-12-31004281452023-01-012023-12-31004281452021-12-31004281452022-01-012022-12-31004281452022-12-3100428145ns15:EnglandWales2023-01-012023-12-3100428145ns14:PoundSterling2023-01-012023-12-3100428145ns10:Director12023-01-012023-12-3100428145ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100428145ns10:SmallEntities2023-01-012023-12-3100428145ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100428145ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100428145ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100428145ns10:FullAccounts2023-01-012023-12-310042814512023-01-012023-12-3100428145ns10:Director22023-01-012023-12-3100428145ns10:RegisteredOffice2023-01-012023-12-3100428145ns5:CurrentFinancialInstruments2023-12-3100428145ns5:CurrentFinancialInstruments2022-12-3100428145ns5:ShareCapital2023-12-3100428145ns5:ShareCapital2022-12-3100428145ns5:RetainedEarningsAccumulatedLosses2023-12-3100428145ns5:RetainedEarningsAccumulatedLosses2022-12-3100428145ns5:NetGoodwill2023-01-012023-12-3100428145ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3100428145ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3100428145ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3100428145ns5:FurnitureFittings2023-01-012023-12-3100428145ns5:NetGoodwill2022-12-3100428145ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3100428145ns5:NetGoodwill2023-12-3100428145ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3100428145ns5:NetGoodwill2022-12-3100428145ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3100428145ns5:LandBuildings2022-12-3100428145ns5:FurnitureFittings2022-12-3100428145ns5:LandBuildings2023-01-012023-12-3100428145ns5:LandBuildings2023-12-3100428145ns5:FurnitureFittings2023-12-3100428145ns5:LandBuildings2022-12-3100428145ns5:FurnitureFittings2022-12-3100428145ns5:CostValuation2022-12-3100428145ns5:RevaluationsIncreaseDecreaseInInvestments2023-12-3100428145ns5:CostValuation2023-12-3100428145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100428145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 00428145 (England and Wales)









Financial Statements

for the Year Ended 31 December 2023

for

Original Products (Marylebone)
Limited

Original Products (Marylebone)
Limited (Registered number: 00428145)






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


Original Products (Marylebone)
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P R Spencer
Mrs L Spencer





REGISTERED OFFICE: Unit 5, Kites Park
Summerleys Road
Princes Risborough
Buckinghamshire
HP27 9PX





REGISTERED NUMBER: 00428145 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Original Products (Marylebone)
Limited (Registered number: 00428145)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 110 192
Tangible assets 5 855,741 869,355
Investments 6 1,505,292 1,498,044
2,361,143 2,367,591

CURRENT ASSETS
Stocks 590,207 648,922
Debtors 7 277,046 267,336
Cash at bank and in hand 1,227,478 1,243,083
2,094,731 2,159,341
CREDITORS
Amounts falling due within one year 8 (133,441 ) (155,889 )
NET CURRENT ASSETS 1,961,290 2,003,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,322,433

4,371,043

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 4,319,433 4,368,043
SHAREHOLDERS' FUNDS 4,322,433 4,371,043

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 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.

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 16 September 2024 and were signed on its behalf by:





P R Spencer - Director


Original Products (Marylebone)
Limited (Registered number: 00428145)

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

1. STATUTORY INFORMATION

Original Products (Marylebone) 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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year/period, and also have been consistently applied within the same accounts.

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 2012, is being amortised evenly over its estimated useful life of three 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.

Trademark are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings & equipment - 33.33% on cost and 10% and 20% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.

Original Products (Marylebone)
Limited (Registered number: 00428145)

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

2. ACCOUNTING POLICIES - continued

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 scheme for the director. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions paid to the fund during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Trademark Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 20,000 410 20,410
AMORTISATION
At 1 January 2023 20,000 218 20,218
Amortisation for year - 82 82
At 31 December 2023 20,000 300 20,300
NET BOOK VALUE
At 31 December 2023 - 110 110
At 31 December 2022 - 192 192

5. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 910,038 55,945 965,983
DEPRECIATION
At 1 January 2023 51,947 44,681 96,628
Charge for year 12,225 1,389 13,614
At 31 December 2023 64,172 46,070 110,242
NET BOOK VALUE
At 31 December 2023 845,866 9,875 855,741
At 31 December 2022 858,091 11,264 869,355

Original Products (Marylebone)
Limited (Registered number: 00428145)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2023 1,498,044
Revaluations 7,248
At 31 December 2023 1,505,292
NET BOOK VALUE
At 31 December 2023 1,505,292
At 31 December 2022 1,498,044

Cost or valuation at 31 December 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2023 7,248
Cost 1,498,044
1,505,292

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,198 67,859
Amounts owed by connected company 155,846 187,131
Other debtors 67,671 -
Prepayments and accrued income 14,331 12,346
277,046 267,336

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 48,657 65,257
Tax - 733
Social security and other taxes 6,197 6,295
VAT 57,899 64,712
Other creditors 3,218 -
Directors' current accounts 10,359 395
Accruals and deferred income 7,111 18,497
133,441 155,889

9. RETAINED EARNING

The retained earnings of £4,319,433 (2022: £4,368,043) comprise of distributable reserves of £4,312,185 (2022: £4,368,043) and non-distributable reserves of £7,248 (2022: £Nil) which relate to investment revaluations.