Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Martin Paul Grant 01/09/1997 Nicola Ann Grant 14/06/2022 Benjamin Matthew Paul 14/06/2022 Hazel Jennifer Paul 19/04/2023 03 April 2025 The principal activity of the Company during the financial year was manufacturing of plastic products, mainly windows, doors and conservatories. 03427045 2024-12-31 03427045 bus:Director1 2024-12-31 03427045 bus:Director2 2024-12-31 03427045 bus:Director3 2024-12-31 03427045 bus:Director4 2024-12-31 03427045 2023-12-31 03427045 core:CurrentFinancialInstruments 2024-12-31 03427045 core:CurrentFinancialInstruments 2023-12-31 03427045 core:Non-currentFinancialInstruments 2024-12-31 03427045 core:Non-currentFinancialInstruments 2023-12-31 03427045 core:ShareCapital 2024-12-31 03427045 core:ShareCapital 2023-12-31 03427045 core:RetainedEarningsAccumulatedLosses 2024-12-31 03427045 core:RetainedEarningsAccumulatedLosses 2023-12-31 03427045 core:Goodwill 2023-12-31 03427045 core:Goodwill 2024-12-31 03427045 core:LeaseholdImprovements 2023-12-31 03427045 core:PlantMachinery 2023-12-31 03427045 core:Vehicles 2023-12-31 03427045 core:LeaseholdImprovements 2024-12-31 03427045 core:PlantMachinery 2024-12-31 03427045 core:Vehicles 2024-12-31 03427045 2022-12-31 03427045 bus:OrdinaryShareClass1 2024-12-31 03427045 bus:OrdinaryShareClass2 2024-12-31 03427045 core:WithinOneYear 2024-12-31 03427045 core:WithinOneYear 2023-12-31 03427045 core:BetweenOneFiveYears 2024-12-31 03427045 core:BetweenOneFiveYears 2023-12-31 03427045 core:MoreThanFiveYears 2024-12-31 03427045 core:MoreThanFiveYears 2023-12-31 03427045 2024-01-01 2024-12-31 03427045 bus:FilletedAccounts 2024-01-01 2024-12-31 03427045 bus:SmallEntities 2024-01-01 2024-12-31 03427045 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03427045 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03427045 bus:Director1 2024-01-01 2024-12-31 03427045 bus:Director2 2024-01-01 2024-12-31 03427045 bus:Director3 2024-01-01 2024-12-31 03427045 bus:Director4 2024-01-01 2024-12-31 03427045 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 03427045 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 03427045 core:PlantMachinery 2024-01-01 2024-12-31 03427045 core:Vehicles 2024-01-01 2024-12-31 03427045 2023-01-01 2023-12-31 03427045 core:LeaseholdImprovements 2024-01-01 2024-12-31 03427045 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 03427045 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 03427045 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03427045 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 03427045 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03427045 (England and Wales)

OMEGA TRADE FRAMES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

OMEGA TRADE FRAMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

OMEGA TRADE FRAMES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
OMEGA TRADE FRAMES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 268,486 297,464
268,486 297,464
Current assets
Stocks 184,289 184,883
Debtors 5 473,074 431,499
Cash at bank and in hand 442,075 408,393
1,099,438 1,024,775
Creditors: amounts falling due within one year 6 ( 446,765) ( 508,150)
Net current assets 652,673 516,625
Total assets less current liabilities 921,159 814,089
Creditors: amounts falling due after more than one year 7 ( 72,935) ( 90,521)
Provision for liabilities 8 ( 64,968) ( 72,659)
Net assets 783,256 650,909
Capital and reserves
Called-up share capital 9 220 220
Profit and loss account 783,036 650,689
Total shareholders' funds 783,256 650,909

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Omega Trade Frames Limited (registered number: 03427045) were approved and authorised for issue by the Board of Directors on 03 April 2025. They were signed on its behalf by:

Martin Paul Grant
Director
OMEGA TRADE FRAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
OMEGA TRADE FRAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Omega Trade Frames Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 30

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 19,950 19,950
At 31 December 2024 19,950 19,950
Accumulated amortisation
At 01 January 2024 19,950 19,950
At 31 December 2024 19,950 19,950
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 January 2024 58,032 893,671 287,918 1,239,621
Additions 0 14,928 37,919 52,847
Disposals 0 0 ( 25,264) ( 25,264)
At 31 December 2024 58,032 908,599 300,573 1,267,204
Accumulated depreciation
At 01 January 2024 49,808 747,736 144,613 942,157
Charge for the financial year 872 37,955 42,075 80,902
Disposals 0 0 ( 24,341) ( 24,341)
At 31 December 2024 50,680 785,691 162,347 998,718
Net book value
At 31 December 2024 7,352 122,908 138,226 268,486
At 31 December 2023 8,224 145,935 143,305 297,464

5. Debtors

2024 2023
£ £
Trade debtors 415,663 420,367
Amounts owed by directors 39,677 0
Prepayments 17,734 11,132
473,074 431,499

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,268 10,015
Trade creditors 206,025 154,999
Amounts owed to directors 0 84,200
Accruals 6,400 4,400
Taxation and social security 205,941 237,649
Obligations under finance leases and hire purchase contracts 6,306 6,306
Other creditors 11,825 10,581
446,765 508,150

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,640 19,908
Obligations under finance leases and hire purchase contracts 63,295 70,613
72,935 90,521

The Hire Purchase agreements are secured against the assets to which they relate.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 72,659) ( 59,259)
Credited/(charged) to the Statement of Income and Retained Earnings 7,691 ( 13,400)
At the end of financial year ( 64,968) ( 72,659)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
160 A ordinary shares of £ 1.00 each 160 160
60 D ordinary shares of £ 1.00 each 60 60
220 220

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 76,800 76,800
between one and five years 307,200 307,200
after five years 230,400 307,200
614,400 691,200

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,047 581

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by/ (to) Directors 39,677 (84,201)

Interest has been charged at 2.25% on the amounts owed by directors.