| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 November 2024 |
| for |
| Oven Sheen Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 November 2024 |
| for |
| Oven Sheen Ltd |
| Oven Sheen Ltd (Registered number: 06014051) |
| Contents of the Financial Statements |
| for the Year Ended 29 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Oven Sheen Ltd |
| Company Information |
| for the Year Ended 29 November 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Airport House |
| Suite 43-45 |
| Purley Way |
| Croydon |
| CR0 0XZ |
| Oven Sheen Ltd (Registered number: 06014051) |
| Balance Sheet |
| 29 November 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| Provisions for liabilities | 9 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings | 10 |
| The director acknowledges his 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. |
| Oven Sheen Ltd (Registered number: 06014051) |
| Balance Sheet - continued |
| 29 November 2024 |
| The financial statements were approved by the director and authorised for issue on |
| Oven Sheen Ltd (Registered number: 06014051) |
| Notes to the Financial Statements |
| for the Year Ended 29 November 2024 |
| 1. | STATUTORY INFORMATION |
| Oven Sheen Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal activity of the company was that of oven cleaning. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
| TURNOVER |
| Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| TANGIBLE FIXED ASSETS |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
| Fixtures, fittings & equipment | 15% Reducing Balance |
| Motor vehicles | 25% Reducing Balance |
| Computer Software | 15% Reducing Balance |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
| FINANCIAL INSTRUMENTS |
| The company only enters into basic financial transactions that result in recognition of financial assets an liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| TAXATION |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| CURRENT TAX |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
| Oven Sheen Ltd (Registered number: 06014051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| LEASES |
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed. |
| PENSIONS |
| DEFINED CONTRIBUTION PENSION PLAN |
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. |
| The contributions are recognised as an expense in Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in Balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
| PROVISIONS FOR LIABILITIES |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in Balance sheet. |
| GOING CONCERN |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Oven Sheen Ltd (Registered number: 06014051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 November 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 30 November 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 29 November 2024 |
| DEPRECIATION |
| At 30 November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 29 November 2024 |
| NET BOOK VALUE |
| At 29 November 2024 |
| At 29 November 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by associated company |
| Other debtors |
| The director considers the carrying value of trade and other receivables approximate to their fair values. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| The director considers the carrying amounts of current liabilities approximate to their fair values. |
| Oven Sheen Ltd (Registered number: 06014051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 November 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 years | 4,293 | 8,334 |
| The director considers the carrying amounts of long term liabilities approximate to their fair values. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Between one and five years |
| Non-cancellable operating | leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 7,471 | 7,754 |
| Deferred |
| tax |
| £ |
| Balance at 30 November 2023 |
| Provided during year | ( |
) |
| Balance at 29 November 2024 |
| Oven Sheen Ltd (Registered number: 06014051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 November 2024 |
| 10. | RESERVES |
| PROFIT AND LOSS RESERVES |
| The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
| 11. | 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. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,361 (2023 - £8,236). |
| Contributions totaling £559 (2023 - £480) were payable to fund at the balance sheet date and are included in creditors. |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 29 November 2024 and 29 November 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 13. | RELATED PARTY DISCLOSURES |
| As at the balance sheet date included in debtors were amounts of £34,107 (2023 - £26,600) due from the director. |
| As at the balance sheet date, included in creditors is an amount due to Carpet Sheen Ltd of £108 (2023 - £1,092 in debtors) an associate company having common director and shareholders. |