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REGISTERED NUMBER: 05045250 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Oracle Components Ltd

Oracle Components Ltd (Registered number: 05045250)

Contents of the Financial Statements
For The Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Oracle Components Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mr J Mustafa
Mr C Mustafa





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 05045250 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Oracle Components Ltd (Registered number: 05045250)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 774,140 777,952

CURRENT ASSETS
Stocks 220,774 244,658
Debtors 6 486,405 350,647
Cash at bank 112,332 738,627
819,511 1,333,932
CREDITORS
Amounts falling due within one year 7 294,879 417,490
NET CURRENT ASSETS 524,632 916,442
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,298,772

1,694,394

CREDITORS
Amounts falling due after more than one
year

8

(402,565

)

(420,533

)

PROVISIONS FOR LIABILITIES 10 (52,249 ) (53,202 )
NET ASSETS 843,958 1,220,659

CAPITAL AND RESERVES
Called up share capital 11 5,000 5,000
Revaluation reserve 12 125,054 124,701
Retained earnings 713,904 1,090,958
SHAREHOLDERS' FUNDS 843,958 1,220,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Oracle Components Ltd (Registered number: 05045250)

Statement of Financial Position - continued
31 March 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 Income Statement 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:




Mr C Mustafa - Director



Mr J Mustafa - Director


Oracle Components Ltd (Registered number: 05045250)

Notes to the Financial Statements
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Oracle Components Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared as a single entity.
The principal accounting policies adopted are set out below.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on ·an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Going concern
At the time that the financial statements were approved, the directors had a reasonable expectation that the company had adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

The directors have considered a period of twelve months following the date of approval of the financial statements, when considering the appropriateness of the adoption of the going concern basis of preparation.

Turnover
Turnover 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.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Recognition and impairment of tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Freehold property is being recognised under the fair value model less accumulated depreciation.

The entity reviews the carrying value's of its tangible fixed assets at each reporting date, to determine wether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the estimated recoverable value of the asset is used to determine the extent of the impairment loss (if any).

Oracle Components Ltd (Registered number: 05045250)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at average weighted cost, derived from, the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

Oracle Components Ltd (Registered number: 05045250)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 730,000 90,113 89,590 37,667 947,370
Additions - 1,617 61,236 11,095 73,948
Disposals - - (38,500 ) - (38,500 )
At 31 March 2024 730,000 91,730 112,326 48,762 982,818
DEPRECIATION
At 1 April 2023 43,800 66,932 24,399 34,287 169,418
Charge for year 14,600 3,720 24,689 7,079 50,088
Eliminated on disposal - - (10,828 ) - (10,828 )
At 31 March 2024 58,400 70,652 38,260 41,366 208,678
NET BOOK VALUE
At 31 March 2024 671,600 21,078 74,066 7,396 774,140
At 31 March 2023 686,200 23,181 65,191 3,380 777,952

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2020 164,857 - - - 164,857
Cost 565,143 91,730 112,326 48,762 817,961
730,000 91,730 112,326 48,762 982,818

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 565,143 565,143

Freehold land and buildings were valued on an open market basis on 30 October 2020 by Fenn Wright .

This valuation remains fair following an assessment by the directors at 31st March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 462,236 347,632
Other debtors 24,169 3,015
486,405 350,647

Oracle Components Ltd (Registered number: 05045250)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,701 33,182
Trade creditors 26,818 116,935
Taxation and social security 48,050 108,108
Other creditors 192,310 159,265
294,879 417,490

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 402,565 420,533

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after
more than five years 266,565 254,533
266,565 254,533

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 429,565 453,533

Bank loans and hire purchases are secured against the freehold property.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 52,249 53,202

Deferred
tax
£   
Balance at 1 April 2023 53,202
Provided during year 2,697
Deferred tax on freehold reval (3,650 )
Balance at 31 March 2024 52,249

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary £1 5,000 5,000

Oracle Components Ltd (Registered number: 05045250)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


12. RESERVES
Revaluation
reserve
£   
At 1 April 2023 124,701
Deferred tax on revaluation 3,650
Excess depreciation (3,297 )

At 31 March 2024 125,054