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Registered Number: 07221208
England and Wales

 

 

 

OEMA CHEM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Mr M Chiverton
Registered Number 07221208
Registered Office Unit 4 Trinity Court
Brunel Road
Southampton
Hampshire
SO40 3WX
Accountants Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 May 2024.
Director
The director who served the company throughout the year was as follows:
Mr M Chiverton
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Mr M Chiverton
Director

Date approved: 19 February 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of Oema Chem Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oema Chem Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Oema Chem Limited, as a body, in accordance with the terms of our engagement letter dated 19 February 2025 Our work has been undertaken solely to prepare for your approval the accounts of Oema Chem Limited and state those matters that we have agreed to state to the Board of Directors of Oema Chem Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oema Chem Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Oema Chem Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oema Chem Limited. You consider that Oema Chem Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Oema Chem Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 May 2024



....................................................
Dove Marsh & Jones
Dove Marsh & Jones

1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
19 February 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 90,417    95,417 
Tangible fixed assets 4 451,714    456,583 
542,131    552,000 
Current assets      
Stocks 5 54,277    56,780 
Debtors 6 488,314    395,731 
Cash at bank and in hand 259,362    205,576 
801,953    658,087 
Creditors: amount falling due within one year 7 (615,247)   (503,655)
Net current assets 186,706    154,432 
 
Total assets less current liabilities 728,837    706,432 
Creditors: amount falling due after more than one year 8 (34,167)   (64,167)
Accruals and deferred income (30,135)   (37,205)
Provisions for liabilities 9 (110,860)   (107,870)
Net assets 553,675    497,190 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 553,575    497,090 
Shareholders' funds 553,675    497,190 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 19 February 2025 and were signed by:


-------------------------------
Mr M Chiverton
Director
4
General Information
Oema Chem Limited is a private company, limited by shares, registered in England and Wales, registration number 07221208, registration address Unit 4 Trinity Court, Brunel Road, Southampton, Hampshire, SO40 3WX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences
Licences are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. 
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 24 (2023 : 20).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 June 2023 100,000    100,000 
Additions  
Disposals  
At 31 May 2024 100,000    100,000 
Amortisation
At 01 June 2023 4,583    4,583 
Charge for year 5,000    5,000 
On disposals  
At 31 May 2024 9,583    9,583 
Net book values
At 31 May 2024 90,417    90,417 
At 31 May 2023 95,417    95,417 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 June 2023 621,976    75,988    198,027    38,990    934,981 
Additions 69,659    54,992    2,546    20,348    147,545 
Disposals (1,974)         (1,974)
At 31 May 2024 689,661    130,980    200,573    59,338    1,080,552 
Depreciation
At 01 June 2023 312,280    38,031    99,799    28,288    478,398 
Charge for year 106,035    17,707    19,991    6,949    150,682 
On disposals (242)         (242)
At 31 May 2024 418,073    55,738    119,790    35,237    628,838 
Net book values
Closing balance as at 31 May 2024 271,588    75,242    80,783    24,101    451,714 
Opening balance as at 01 June 2023 309,696    37,957    98,228    10,702    456,583 


5.

Stocks

2024
£
  2023
£
Stocks 54,277    56,780 
54,277    56,780 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 466,446    365,112 
Prepayments & Accrued Income 11,718    23,369 
Other Debtors 10,150    7,250 
488,314    395,731 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 175,574    162,380 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 61,828    12,127 
PAYE & Social Security 16,118    10,588 
Accrued Expenses 4,000    3,870 
Other Creditors 74,845    73,664 
Directors' Current Accounts 201,577    176,111 
VAT 71,305    54,915 
615,247    503,655 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 14,167    24,167 
Other Creditors 20,000    40,000 
34,167    64,167 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 110,860    107,870 
110,860    107,870 

5