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REGISTERED NUMBER: 08537347 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2022

for

Online Merchant Connect Limited

Online Merchant Connect Limited (Registered number: 08537347)

Contents of the Financial Statements
for the Year Ended 31 May 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Online Merchant Connect Limited

Company Information
for the Year Ended 31 May 2022







DIRECTOR: C A Chmiel





SECRETARY: C A Chmiel





REGISTERED OFFICE: 54-58 Tanner Street
The Brandenburg Suite Tanner Place
London
SE1 3PH





REGISTERED NUMBER: 08537347 (England and Wales)





ACCOUNTANTS: Tuerner & Co Limited
Chartered Accountants
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG

Online Merchant Connect Limited (Registered number: 08537347)

Balance Sheet
31 May 2022

31.5.22 31.5.21
as restated
Notes £    £    £    £   
FIXED ASSETS
Investments 5 2,015,715 220,383

CURRENT ASSETS
Debtors 6 8,773,282 140,164
Investments 7 1,520,912 -
Cash at bank 868,556 7,453
11,162,750 147,617
CREDITORS
Amounts falling due within one year 8 32,755 367,972
NET CURRENT ASSETS/(LIABILITIES) 11,129,995 (220,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,145,710

28

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 13,145,709 27
SHAREHOLDERS' FUNDS 13,145,710 28

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

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 director and authorised for issue on 10 January 2025 and were signed by:





C A Chmiel - Director


Online Merchant Connect Limited (Registered number: 08537347)

Notes to the Financial Statements
for the Year Ended 31 May 2022


1. STATUTORY INFORMATION

Online Merchant Connect 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Online Merchant Connect Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

Online Merchant Connect Limited (Registered number: 08537347)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2021 220,383
Additions 1,995,332
Disposals (200,000 )
At 31 May 2022 2,015,715
NET BOOK VALUE
At 31 May 2022 2,015,715
At 31 May 2021 220,383

The company has made total loans of £1,595,759 (2021: £24,639) to group companies. These loans are repayable after more than one year.

6. DEBTORS
31.5.22 31.5.21
as restated
£    £   
Amounts falling due within one year:
Trade debtors - 113,439
Amounts owed by associates 21,296 -
Other debtors 7,156,227 2,086
7,177,523 115,525

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,595,759 24,639

Aggregate amounts 8,773,282 140,164

7. CURRENT ASSET INVESTMENTS
31.5.22 31.5.21
as restated
£    £   
Listed investments 1,520,912 -

Online Merchant Connect Limited (Registered number: 08537347)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
as restated
£    £   
Trade creditors 209 -
Amounts owed to group undertakings 20,383 20,383
Taxation and social security - 1,834
Other creditors 12,163 345,755
32,755 367,972

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.22 31.5.21
value: as restated
£    £   
1 Ordinary 1 1 1