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REGISTERED NUMBER: 12469203 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Ms E J Mitchell
Mr O T Masters



REGISTERED OFFICE: Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
Yorkshire
S75 3SP



REGISTERED NUMBER: 12469203 (England and Wales)



ACCOUNTANTS: Reed Smith Accountancy Limited
Chartered Certified Accountants
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



BANKERS: Santander UK Plc
Sunderland
SR43 4FW

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 50,270 63,180

CURRENT ASSETS
Inventories 150,169 38,471
Debtors 5 335,921 294,301
Cash at bank 16,565 7,399
502,655 340,171
CREDITORS
Amounts falling due within one year 6 491,375 260,396
NET CURRENT ASSETS 11,280 79,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,550

142,955

CREDITORS
Amounts falling due after more than one
year

7

33,551

32,822
NET ASSETS 27,999 110,133

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 27,998 110,132
27,999 110,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:




Ms E J Mitchell - Director



Mr O T Masters - Director


OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

OTM Industrial Roofing And Cladding 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
Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Buildings - Straight line over 5 years
Plant and machinery etc - Straight line over 5 years and Straight line over 3 years

Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

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.

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.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
Buildings etc Totals
£    £    £   
COST
At 1 March 2023 4,329 84,510 88,839
Additions - 21,323 21,323
Disposals - (18,995 ) (18,995 )
At 29 February 2024 4,329 86,838 91,167
DEPRECIATION
At 1 March 2023 1,732 23,927 25,659
Charge for year 866 24,766 25,632
Eliminated on disposal - (10,394 ) (10,394 )
At 29 February 2024 2,598 38,299 40,897
NET BOOK VALUE
At 29 February 2024 1,731 48,539 50,270
At 28 February 2023 2,597 60,583 63,180

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

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

Plant and
machinery
etc
£   
COST
At 1 March 2023 30,500
Additions 17,995
At 29 February 2024 48,495
DEPRECIATION
At 1 March 2023 6,100
Charge for year 9,699
At 29 February 2024 15,799
NET BOOK VALUE
At 29 February 2024 32,696
At 28 February 2023 24,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 254,236 238,805
Other debtors 81,685 55,496
335,921 294,301

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 9,708 4,604
Trade creditors 210,238 70,777
Taxation and social security 126,100 160,742
Other creditors 140,329 19,273
491,375 260,396

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,083 12,083
Hire purchase contracts 26,468 20,739
33,551 32,822

OTM INDUSTRIAL ROOFING AND CLADDING
LIMITED (REGISTERED NUMBER: 12469203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 36,176 25,343

The loans in respect of hire purchase contracts are secured against the assets to which they relate.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Ms E J Mitchell.