Company Registration No. 01554311 (England and Wales)
Ovalmere (1993) Limited
Unaudited accounts
for the year ended 30 April 2024
Ovalmere (1993) Limited
Unaudited accounts
Contents
Ovalmere (1993) Limited
Company Information
for the year ended 30 April 2024
Company Number
01554311 (England and Wales)
Registered Office
11 Orchard Way
Burgess Hill
West Sussex
RH15 9PB
England
Accountants
SWP Chartered Accountants
Unit 4 Basepoint
Andersons Road
Southampton
SO14 5FE
Ovalmere (1993) Limited
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
9,485
7,272
Creditors: amounts falling due within one year
(6,749)
(27,280)
Net current assets/(liabilities)
7,623
(15,121)
Total assets less current liabilities
7,623
19,627
Creditors: amounts falling due after more than one year
(1,782)
(3,282)
Called up share capital
100
100
Profit and loss account
5,741
16,245
Shareholders' funds
5,841
16,345
For the year ending 30 April 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 director acknowledges his 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 and authorised for issue on 15 January 2025 and were signed on its behalf by
S N Marshall
Director
Company Registration No. 01554311
Ovalmere (1993) Limited
Notes to the Accounts
for the year ended 30 April 2024
Ovalmere (1993) Limited is a private company, limited by shares, registered in England and Wales, registration number 01554311. The registered office is 11 Orchard Way, Burgess Hill, West Sussex, RH15 9PB, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects
current market assessments of the time value of money and the risks specific to the asset for which the
estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased
to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased
carrying amount does not exceed the carrying amount that would have been determined had no impairment
loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which
case the reversal of the impairment loss is treated as a revaluation increase.
Ovalmere (1993) Limited
Notes to the Accounts
for the year ended 30 April 2024
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Tangible fixed assets
Land & buildings
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,442
1,442
Taxes and social security
290
331
Loans from directors
3,217
6,582
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 1 (2023: 2).