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REGISTERED NUMBER: 01118742 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

OMEGA PISTONS LIMITED

OMEGA PISTONS LIMITED (REGISTERED NUMBER: 01118742)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


OMEGA PISTONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr B O Andersson
Mr F J R Hadley
Mr P Hadley
Mr K Andersson





SECRETARY: Mr F J R Hadley





REGISTERED OFFICE: Oak Barn Road
HALESOWEN
West Midlands
B62 9DW





REGISTERED NUMBER: 01118742 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
OMEGA PISTONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Omega Pistons Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Omega Pistons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Omega Pistons Limited and state those matters that we have agreed to state to the Board of Directors of Omega Pistons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Omega Pistons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Omega Pistons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Omega Pistons Limited. You consider that Omega Pistons 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 financial statements of Omega Pistons 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 financial statements.






E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


23 April 2025

OMEGA PISTONS LIMITED (REGISTERED NUMBER: 01118742)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,321,526 1,343,356
Investments 5 1 1
1,321,527 1,343,357

CURRENT ASSETS
Stocks 224,025 305,450
Debtors 6 88,446 202,083
Cash at bank and in hand 78,309 70,674
390,780 578,207
CREDITORS
Amounts falling due within one year 7 114,155 126,163
NET CURRENT ASSETS 276,625 452,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,598,152

1,795,401

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,597,952 1,795,201
SHAREHOLDERS' FUNDS 1,598,152 1,795,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





Mr F J R Hadley - Director


OMEGA PISTONS LIMITED (REGISTERED NUMBER: 01118742)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Omega Pistons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

OMEGA PISTONS LIMITED (REGISTERED NUMBER: 01118742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 1,347,000 704,639 85,656 8,950 2,146,245
Additions - 14,750 415 - 15,165
At 31 July 2024 1,347,000 719,389 86,071 8,950 2,161,410
DEPRECIATION
At 1 August 2023 52,880 662,603 78,855 8,551 802,889
Charge for year 26,440 9,358 1,098 99 36,995
At 31 July 2024 79,320 671,961 79,953 8,650 839,884
NET BOOK VALUE
At 31 July 2024 1,267,680 47,428 6,118 300 1,321,526
At 31 July 2023 1,294,120 42,036 6,801 399 1,343,356

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2022 1,249,685 - - - 1,249,685
Cost 97,315 719,389 86,071 8,950 911,725
1,347,000 719,389 86,071 8,950 2,161,410

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 97,315 97,315
Aggregate depreciation 72,315 72,315

Value of land in freehold land and buildings 25,000 25,000

Freehold land and buildings were valued on reinstatement cost basis on 26 October 2022 by Pennycuick Collins Chartered Surveyors .

OMEGA PISTONS LIMITED (REGISTERED NUMBER: 01118742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 74,747 189,465
Other debtors 13,699 12,618
88,446 202,083

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 44,927 46,353
Taxation and social security 55,084 66,620
Other creditors 14,144 13,190
114,155 126,163

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,998 2,998
Between one and five years 2,496 4,368
5,494 7,366

9. ULTIMATE CONTROLLING PARTY

The company is under the control of the Directors' who own 100% of the issued share capital.