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Registered Number: 05998453
England and Wales

 

 

 

OZONE INTERIORS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 11,599    15,736 
11,599    15,736 
Current assets      
Debtors 83,737    338,102 
Cash at bank and in hand 75,515    508,240 
159,252    846,342 
Creditors: amount falling due within one year (88,491)   (616,871)
Net current assets 70,761    229,471 
 
Total assets less current liabilities 82,360    245,207 
Creditors: amount falling due after more than one year (27,785)   (33,228)
Provisions for liabilities (2,899)   (2,990)
Net assets 51,676    208,989 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 51,674    208,987 
Shareholders' funds 51,676    208,989 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 November 2024 and were signed on its behalf by:


-------------------------------
C P Howes
Director
-------------------------------
B L Vincent
Director
1
General Information
Ozone Interiors Ltd is a private company, limited by shares, registered in England and Wales, registration number 05998453, registration address Mortimer House, 49 Church Street Theale, Reading, Berkshire, RG7 5BX.

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(1A) 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.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net sales of services, excluding value added tax. Income is recognised when the company obtains the right to consideration.
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 contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of this obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
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.
Taxation
Taxation for the year comprises current 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 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Hire purchase and leasing agreements
Assets held under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2023 16,103    18,690    6,841    14,670    56,304 
Additions     776    1,301    2,077 
Disposals       (1,328)   (1,328)
At 30 September 2024 16,103    18,690    7,617    14,643    57,053 
Depreciation
At 01 October 2023 6,592    15,779    6,841    11,356    40,568 
Charge for year 3,221    728    58    2,208    6,215 
On disposals       (1,329)   (1,329)
At 30 September 2024 9,813    16,507    6,899    12,235    45,454 
Net book values
Closing balance as at 30 September 2024 6,290    2,183    718    2,408    11,599 
Opening balance as at 01 October 2023 9,511    2,911      3,314    15,736 


4.

Director’s loan

Director's Advances, Credits And Guarantees

At the balance sheet, the following balances existed on the director's loan accounts:

C Howes - £3,223 in credit (2023 - £12,918 in credit)

B Vincent - £4,331 in credit (2023 - 4,019 in credit)

The above loans are interest free with no fixed date of repayment.


5.

Debtors: amounts falling within one year

.   2024
£
  2023
£
Trade debtors 49,531  6,399 
Amounts recoverable on contracts 320,785 
Other Debtors 34,206  10,918 
83,737  338,102 

6.

Creditors: amount falling due within one year

.   2024
£
  2023
£
Trade Creditors 52,827  476,387 
Bank loans & Overdrafts 5,442  5,307 
Corporation Tax 47,211 
PAYE & Social Security 2,163  3,558 
Accrued expenses 201  237 
Other Creditors 2,974  1,763 
Directors 7,554  6,937 
VAT 17,330  75,471 
88,491  616,871 

7.

Amounts falling due in more than five years:

.   2024
£
  2023
£
Bank loans & Overdrafts 27,785  33,228 
27,785  33,228 

8.

Amounts falling due in more than five years: Repayable by instalments

.   2024
£
  2023
£
Bank loans more than 5 years by instalments 4,608  10,623 
4,608  10,623 

9.

Provisions for liabilities

.   2024
£
  2023
£
Deferred Tax 2,899  2,990 
2,899  2,990 

10.

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:   2024
£
  2023
£
Within one year 13,800  29,700 
Between two and five years
13,800  29,700 

2