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Registered number: 04464795
Oztex Services Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04464795
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 15,962 20,299
15,962 20,299
CURRENT ASSETS
Debtors 6 30,811 29,131
Cash at bank and in hand 73,910 109,344
104,721 138,475
Creditors: Amounts Falling Due Within One Year 7 (22,826 ) (22,323 )
NET CURRENT ASSETS (LIABILITIES) 81,895 116,152
TOTAL ASSETS LESS CURRENT LIABILITIES 97,857 136,451
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (3,033 ) (3,857 )
NET ASSETS 94,824 132,594
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 94,724 132,494
SHAREHOLDERS' FUNDS 94,824 132,594
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Allan Harraden
Director
26/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oztex Services Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04464795 . The registered office is 100 Church Street, Brighton, East Sussex, BN1 1UJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 8% straight line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 67,000
As at 30 June 2024 67,000
Amortisation
As at 1 July 2023 67,000
As at 30 June 2024 67,000
...CONTINUED
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Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 July 2023 3,250 54,995 58,245
Additions - 984 984
As at 30 June 2024 3,250 55,979 59,229
Depreciation
As at 1 July 2023 3,250 34,696 37,946
Provided during the period - 5,321 5,321
As at 30 June 2024 3,250 40,017 43,267
Net Book Value
As at 30 June 2024 - 15,962 15,962
As at 1 July 2023 - 20,299 20,299
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,976 25,048
Other debtors 8,835 4,083
30,811 29,131
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 16,179 15,655
Taxation and social security 6,647 6,668
22,826 22,323
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8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 3,033 3,857
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £59 (PY £0) were due to the fund. They are included in Other Creditors.
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