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Registration number: 02779512

Mr Ohms Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Mr Ohms Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Mr Ohms Ltd

Company Information

Directors

Philip Michael Ainsworth

Leslie Jones

Registered office

35 Stephenson Way
Formby
Liverpool
L37 8EG

Accountants

Williams & Co Accountants
Pelican House
119c Eastbank Street
Southport
Merseyside
PR8 1DQ

 

Mr Ohms Ltd

(Registration number: 02779512)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

93,581

92,642

Current assets

 

Stocks

5

484,605

568,320

Debtors

6

591,947

605,021

Cash at bank and in hand

 

185,484

141,560

 

1,262,036

1,314,901

Creditors: Amounts falling due within one year

7

(860,632)

(878,408)

Net current assets

 

401,404

436,493

Total assets less current liabilities

 

494,985

529,135

Creditors: Amounts falling due after more than one year

7

(23,832)

(43,121)

Provisions for liabilities

(23,395)

(23,160)

Net assets

 

447,758

462,854

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

447,756

462,852

Shareholders' funds

 

447,758

462,854

 

Mr Ohms Ltd

(Registration number: 02779512)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
Leslie Jones
Director

 

Mr Ohms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 Stephenson Way
Formby
Liverpool
L37 8EG

These financial statements were authorised for issue by the Board on 22 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Mr Ohms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% straighrt line

Vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Mr Ohms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Mr Ohms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 19).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

142,965

102,453

245,418

Additions

-

25,385

25,385

Disposals

-

(16,106)

(16,106)

At 31 January 2025

142,965

111,732

254,697

Depreciation

At 1 February 2024

83,992

68,784

152,776

Charge for the year

8,335

16,111

24,446

Eliminated on disposal

-

(16,106)

(16,106)

At 31 January 2025

92,327

68,789

161,116

Carrying amount

At 31 January 2025

50,638

42,943

93,581

At 31 January 2024

58,973

33,669

92,642

5

Stocks

2025
£

2024
£

Other inventories

484,605

568,320

6

Debtors

Current

2025
£

2024
£

Trade debtors

591,947

600,499

Prepayments

-

4,522

 

591,947

605,021

 

Mr Ohms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Bank loans and overdrafts

19,915

20,444

trade creditors

718,304

755,329

Amount owed to director

8,355

8,355

Taxation and social security

78,646

62,375

Other creditors

35,412

31,905

860,632

878,408

Due after one year

Loans and borrowings

23,832

43,121

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

Loans and borrowings

23,832

43,121

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Dividends

Final dividends paid

2025
£

2024
£

Final dividend of £55,000.00 (2024 - £37,000.00) per each Ordinary

110,000

74,000