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Company Registration No. 13323156 (England and Wales)
Owen's Gas Solutions Limited Unaudited accounts for the year ended 31 March 2024
Owen's Gas Solutions Limited Unaudited accounts Contents
Page
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Owen's Gas Solutions Limited Company Information for the year ended 31 March 2024
Directors
Matthew Owen Charlotte Owen
Company Number
13323156 (England and Wales)
Registered Office
11A Westwood Road Canvey Island Essex SS8 0ED
Accountants
JK Business Services Ltd Axwell House 2 Westerton Road Broxburn West Lothian EH52 5AU
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Owen's Gas Solutions Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
22,396 
29,035 
Current assets
Debtors
317 
- 
Cash at bank and in hand
52,926 
31,292 
53,243 
31,292 
Creditors: amounts falling due within one year
(52,741)
(30,915)
Net current assets
502 
377 
Total assets less current liabilities
22,898 
29,412 
Creditors: amounts falling due after more than one year
(7,850)
(11,305)
Provisions for liabilities
Deferred tax
(5,599)
(5,807)
Net assets
9,449 
12,300 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
9,349 
12,200 
Shareholders' funds
9,449 
12,300 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by
Matthew Owen Director Company Registration No. 13323156
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Owen's Gas Solutions Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Owen's Gas Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 13323156. The registered office is 11A Westwood Road, Canvey Island, Essex, SS8 0ED.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Owen's Gas Solutions Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2023
29,035 
Additions
676 
At 31 March 2024
29,711 
Depreciation
Charge for the year
7,315 
At 31 March 2024
7,315 
Net book value
At 31 March 2024
22,396 
At 31 March 2023
29,035 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
317 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,431 
2,140 
Obligations under finance leases and hire purchase contracts
3,770 
3,770 
Taxes and social security
18,255 
8,328 
Loans from directors
29,035 
16,677 
Accruals
250 
- 
52,741 
30,915 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
7,850 
11,305 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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