Company Registration No. 01510978 (England and Wales)
Ovalring Limited
Unaudited accounts
for the year ended 31 May 2024
Ovalring Limited
Unaudited accounts
Contents
Ovalring Limited
Company Information
for the year ended 31 May 2024
Directors
Nicola Powell
Sheila May Smith
Company Number
01510978 (England and Wales)
Registered Office
8 Brightwell Crescent
Dorridge
Solihull
West Midlands
B93 8HF
England
Accountants
Perfect Balance Accounting
63 Micklehill Drive
Solihull
West Midlands
B90 2PU
Ovalring Limited
Statement of financial position
as at 31 May 2024
Investment property
340,998
214,119
Cash at bank and in hand
31,436
166,193
Creditors: amounts falling due within one year
(36,739)
(54,254)
Net current assets
2,660
125,553
Total assets less current liabilities
344,356
340,484
Creditors: amounts falling due after more than one year
(18,148)
(19,479)
Net assets
326,208
321,005
Called up share capital
3,000
3,000
Profit and loss account
323,208
318,005
Shareholders' funds
326,208
321,005
For the year ending 31 May 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 24 January 2025 and were signed on its behalf by
Nicola Powell
Director
Company Registration No. 01510978
Ovalring Limited
Notes to the Accounts
for the year ended 31 May 2024
Ovalring Limited is a private company, limited by shares, registered in England and Wales, registration number 01510978. The registered office is 8 Brightwell Crescent, Dorridge, Solihull, West Midlands, B93 8HF, 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. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Ovalring Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 June 2023
214,119
Amounts falling due within one year
Trade debtors
7,000
10,000
Accrued income and prepayments
638
-
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
2,750
Trade creditors
6,067
14,072
Taxes and social security
1,394
39
Loans from directors
27,798
7,680
8
Creditors: amounts falling due after more than one year
2024
2023
Ovalring Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).